What is InsideBitcoins.com?
We're going to start by looking at the actual information on InsideBitcoins.com. What are they actually discussing? Well they do post a lot about the price of Bitcoin, but their UK site begins with:
Have you ever dreamed of making it as a trader or investor? If so, you share a dream with many others. But so often budding traders and investors struggle to get over that first major hurdle: where to begin?
It takes time, dedication and experience to become a successful investor, but that doesn’t mean it can’t be done. As long as you’re able to put in the time and work to build up your knowledge and develop on your strategy, anyone can taste success in the financial markets.
What has trading got to do with Bitcoin? Bitcoin buying and selling and conversion back into local currency make it like a commodity for sure, but that is not connected to being a trader. Why would you even think to begin a Bitcoin website this way unless your website has nothing to do with Bitcoin?
Do InsideBitcoins.com Review Bitcoin Related Services?
No, not really. In the most part they review a lot of products that relate to what they refer to as autotrading, which is a concept that was popular with MT5 traders a while back. Traders creating algorithms that could then be shared and perfected to help people make money out of MT5 trading software on stocks like Foreign Exchange or ForEx. These algorithms were soon banned as brokers occasionally lost a lot of money, but they are still hiding out in the depths of Reddit somewhere. They are very dangerous to use as they can lose money just as quickly as they make it, so you need to know what you are doing before you try and implement one live with real money.
InsideBitcoins.com however, review something somewhat more enigmatic, a full blown automated website that can automatically trade for you without using metatrader software, a robot that can make you money without any input at all, a robot that can predict the market by looking into the future. A robot that makes free money!!
Is The Idea of Autotrading Robots Too Good To Be True?
Of course it is. Anyone that tells you that they have a software that can predict any market and therefore makes you money by default, and that they are going to let you use it for free is obviously lying. Many of these types of scammers use various tactics to persuade you that they are giving away this technology because they want to end poverty or that they have made so much money that they just want to help normal people but no one would make this offer without ruining said market and making themselves a target for derision. Anyone claiming they want to end poverty is either mad or has no idea how the world really works.
Modern AI bots that are designed to trade have never exhibited good results, they just tend to lose all of your money within a day or two. The autotrading reviews only seem to be on the US site, they do not appear when on the UK version. This is a big red flag as most of the autotrading scams tend to be soliciting CFD trading to Americans, which is illegal.
If we have a look at the site on their autotrading robot reviews page we can see the following:
So What Do InsideBitcoins.com Really Do?
Well here is a clue, they are recommending QuantumAI which is one of the most ridiculous scammer campaigns we have ever seen. QuantumAI was supposedly invented by Elon Musk and is a Quantum Computing software package (when there aren't any yet) that runs an AI that predicts the future of markets. From the above they are stating that there is a ninety-two percent claimed win rate which presumably means that they haven't tested that rate yet. The idea that a robot could have a constant rate at predicting a market is utterly ridiculous as it would mean that the robot could predict the market no matter the conditions. This would mean that the system could predict external influences just from the movement of the market, which is clearly impossible.
We can also see from the same page more facts about these alleged autotrader bitcoin robots:
Bitcoin robots can have up to 99% win rate, meaning that for every ten trades made by each of these robots, at least nine are correct. Two of such robots are Bitcoin Code, and Cryptosoft.
Just to start with, a 99% win rate would mean ninety-nine out of a hundred rather than nine out of ten, so we can see that they are targeting people who know nothing about trading, and are fully aware that these products are a scam. They must also realise that neither of these products exists. If you look at a website for Bitcoin Code, you can see straightaway that it has nothing other than a contact form to harvest peoples' details and has no facility to use an autotrading robot of any kind.
Why Do InsideBitcoins.com Recommend these Scammer Sites?
Well for commission, for affiliate fees, and to defraud people with their own scammer sites. This is the sad truth. That these sites are deliberate misinformation sites designed to take advantage of novice wanna-be traders, and that many of these fake review sites are all run by the same companies, in this case Finixio Ltd. Some of these companies actually run the scammer trading sites too and take money directly as a result, but it is a very difficult matter to prove this beyond reasonable doubt.
Here is a list of some of their pages, linking to various discussions about each title on InsideBitcoins.com
Now every one of the above associations is obviously complete nonsense and requires no review, does it? Well, only if you are looking to rank on searches like Holly Willoughby Bitcoin for instance, so that you can have an affiliate link to the scammers and make money out of sending them to a scam.
This is not the jobs of a review site obviously. This is a huge red flag hanging over InsideBitcoins.com. They even have sign-up forms for some of these scam on their own site.
They also list reviews for:
Every one of which is a scam that they recommend! This is another huge red flag to hang over their site! I mean some of these even we haven't even heard of!
Do InsideBitcoins.com Review Anything Useful
Sure they do, they review all sorts of things on their UK and Australian websites, as you can see below:
As you can see they reserve the autotrading robots for the US market as they cannot use the CFD scam there. The tactics are pretty obvious and you would think that they would be held to account by the FBI or similar, in some sort of sting operation, but nothing ever seems to be done.
InsideBitcoins.com Fake Reviews
Next we shall have a look at a new trading platform that has been pushed pretty hard recently, and is on FaceBook and lots of the review sites, Quantum Code.
So what do InsideBitcoins.com think of it?
Well they do decide that it is a scam, probably because there does not currently seem to be a website for it that hasn't been shut down, so it doesn't offer affiliate links anymore. So they send you to Bitcoin Profit with their name as the affiliate code, so they are definitely scammers. They obviously are just out to get you scammed by their partners or the websites that they own, whichever is the case. This site cannot be trusted.
Their review of the Quantum Code goes on to say:
We believe that just like other scammers in our list, Quantum Code is nothing but a webpage that connects unsuspecting traders to scam brokers. Their so-called web-trader appears to be set to deliver specific results. Our live test reveals that traders make consistent losses from the first minute of live trading.
How can you do a live test on a product that you have just said is only a website to connect people to offshore scammer brokers? What would be the point in investing with offshore brokers that have nothing to do with the Quantum Code website other than being a partner? This is a deceitful review at best, and more likely, a scam.
The link to bitcoin profit is: https://bitcoinprofit.today/click/geo_bitcoin_profit_roi?source=insidebitcoins&aff_id=[string] and as you can see the source=insidebitcoins&aff proves that the insidebitcoins.com website is a recognised affiliate to bitcoinprofit.today, a scam that has been through so many URL iterations that they are forced to use a .today suffix.
Can We Report InsideBitcoins.com?
We recently sent this over to AWS asking them to take action against this site, as that is where they are hosted:
The above site appears to be either a part of or receiving affiliate fees from offshore, unregulated brokers being connected with US citizens for the purposes of defrauding using either unfair, or in some cases, completely fake CFD trader accounts.
This scam has no connection to cryptocurrency at all, it just uses the public image of bitcoin to delude people into handing over their cash to CFD traders which they are never told is illegal. in the US. Soliciting this product to US citizens is also illegal and we believe that this customer is breaking that law. You can see for yourself by following the links and signing up before being required to deposit any money as the money is deposited with the illegal broker to whom you are forwarded.
From the above link we would deduce that bitcoin profit, quantum code and insidebitcoins.com are all operated by the same criminals.
If you look at a site like insidebitcoins.com you can see that they link directly to these sites, without giving any sort of review. This seems like odd behaviour for a review site?? Why would you want to directly link to a page from menus on your own site if you do not own them?
It is also obvious that this site is run by the same scammers as many of the other fake news and fake reviews site as many appear to be traceable back to this group:
Finixio Ltd (Company number: 11705811), St Magnus House, 3 Lower Thames St, London EC3R 6HE, United Kingdom Who seem to operate out of a lot of addresses.
Are InsideBitcoins.com The Scammers Themselves?
InsideBitCoins.com have recently started using a series of servers on the domain name planetz.care which has a few servers named after the planets within it.
This one for instance is used for boiler room scam adverts such as Bitcoin Rush:
As you can see this server mars.planetz.care is used for the Bitcoin Rush/Lifestyle etc.
Then they have another server for actual fake trader pages that they use to defraud people:
So it is safe to say that these fake trading houses they use, are actually directly connected to InsideBitcoins.com.
If you register with this Elite Trading page, you are taken through to another trader:
The InsideBitcoins.com site is part of a huge network of scams all being run by Finixio Ltd
out of the UK. It is entirely possible that they are using companies in the Czech Republic and St Vincents and the Grenadines to push the blame elsewhere.
Another example is below, where they show a review of Bitcoin Lifestyle
, a well known scam, which they once again use as a way to send innocent people to criminal fake brokers who then defraud people. The server name and domains remain consistent in the video below, showing that these companies are one and the same:
VERDICT: INSIDEBITCOINS.COM IS A: SCAM !!