Watch out for the latest cryptocurrency auto-trading robot scammers, Bitcoin News Trader. A trading robot that is very slightly different from all of the other scammer robots because it reads the news for you and uses that to magically predict the market as opposed to just working it out from a magic algorithm invented by genius' from NASA.
Let's have a look at what they are promising:
What is Bitcoin News Trader?
Well the name is pretty straightforward as you can see. What they are proposing is that this supposed software scans news outlets on-line and evaluates the news and its effect upon the crypto-currency markets. From the news articles alone it somehow works out what demands will take place upon BTC and other crypto prices, calculating all of the influences from spread-betting, CFDs, market dumping and other influences, and then manages to predict the currency differences so that it can make successful trades for you on crypto-currency prices.
Now this is all complete nonsense as the news does not solely dictate supply and demand and if it did, dictating the news would be a simple way to suck all of the money out of the populous.
In reality, there are all sorts of schemes being implemented by all sorts of people all the time that have various effects on market prices and none of this information is available from any news outlet.
Bitcoin News Trader is clearly impossible.
How Does Bitcoin News Trader Work?
We cannot find any information on how this app is supposed to work or which news sites it supposedly interrogates and so it is difficult to say how it works. If the system is supposed to read the news on the FT, Forbes and the Economist then it must take some sort of view on how quickly the news will influence the markets. This seems like a difficult pill to swallow, as in general, the news reports on what the market is doing, not vice-versa. It is very rare that a reporter reacts to a market-changing event before the market does, and even then, they would have to get it signed off by their editor before they can get it to print, and then it will be seeping out of the news outlet to traders before anyone else can read it. In our opinion, Bitcoin News Trader would not be able to stay ahead of the markets by accessing the news.
Can I Trust Bitcoin News Trader?
In our considered opinion, it would be unwise to trust an app like Bitcoin News Trader. It does not appear to have a registered company as it's owner. It does not give an address or contact number on the website, nor any registration details. We cannot find any evidence that Bitcoin News Trader has ever been properly reviewed outside of the fake news sites conducted by scammer companies like Finixio. We cannot see any evidence that there is any sort of useful app on Google or Apple pertaining to this software or even the concept, and if it was a reasonable concept, someone else would have made an app to do it by now. In our opinion, from the scammers reviewing this product, it is a boiler room scam and not to be trusted.
Is There Any Risk Using Bitcoin News Trader?
Yes using Bitcoin News Trader is definitely risky. There is no attestable legal entity taking responsibility for Bitcoin News Trader. If it really is an AI that trades then they must have a disclaimer absolving the inventors from any responsibility for the actions of the AI so you will have no comeback. We do not believe that any sane insurer would ever insure the customers of an AI betting on crypto-market prices and that the idea itself is absolutely crazy. The chances of making money with an AI news-reading robot are extremely thin, especially on a market as volatile as crypto-currency.
How Many People Have Made Money With Bitcoin News Trader?
We cannot find any evidence whatsoever that anyone has made any money at all with this alleged software. There is no site to download an app version of the software and outside of the rather dodgy looking video, we cannot see any sign that the software actually exists. All of the reviews on-line are with scammer sites that are packed with lies of all the other boiler room scam sites. Every one of the scammer reviews leads us to believe that Bitcoin News Trader is a scam and not an app or website at all.
Can I Trade Bitcoins With Bitcoin News Trader?
No, there is no evidence to suggest that this entity can trade anything or even read anything. If the system is an AI then the way it might react to the new or a misprint of the news would be an extremely dangerous party to leave in charge of your money. There is no way than an AI would be able to understand the meaning of a lot of the news in a proper context and one misprint could cause you to lose all of your money and no one would be liable except you. The idea of this robot is too preposterous for it to be real so do not let yourself be defrauded by anyone pretending that they have used Bitcoin News Trader software or websites.
Can I Earn Bitcoins With Bitcoin News Trader?
No there is no evidence that this software can earn or mine Bitcoins in any way at all. Most of the information is all printed by the same company who have been shown to be a scammer time and time again. There are no posts on forexpeacearmy.com that suggest anyone has ever used this software and there is no reason that any AI could achieve what these boiler room reviewer sites claim it can do. Bitcoin News Trader is a scam and should be avoided at all costs.
How Much Money can I make with Bitcoin News Trader?
We have not seen one trustable review that you or anyone else can or ever has made any money with this software. All of the reviews on line seem to be conducted by the same people just copied over and over again. We cannot see any evidence that any of the review was a real all their photos are stock photos that are recycled over and over. None of the names are verifiable to any University they claim to have been to. The whole thing just seems to be a complete pack of lies. As far as we can see there is no evidence that Bitcoin News Trader either exists or is reliable or is capable of making any money for anyone. In light of this we are prepared to cast a verdict that bitcoin News Trader is a scam.
How Much Should I Deposit with Bitcoin News Trader?
Whenever you are depositing any money with any account anywhere in the world you must always find out who you are going to be depositing your money with. You need to verify which bank account the money is going to, what legal entity is responsible for returning that money to you, who those people are registered with (are they registered with an authority that can help you get your money back if there's a problem) and what laws are they governed by. Where is their company based? Where is it registered? Who are they who are the directors? Who are their partners? Who are there insurers? None of this vital information is available on the Bitcoin News Trader website which leads us to believe that if you deposit your money you will never see it again. It will be transferred to cryptocurrency, moved to no-one knows where, and it will disappear. Do not invest with bitcoin News Trader
What Happens if I lose Money With Bitcoin News Trader?
There is no easy way to get your money back. There is no relevant authority to call. There is no insurer to call. All of these bogus brokers are offshore unregulated brokers and they are beyond the laws of your own territory or country. There is no recovery company that can recover your money they can only recover it from your bank. This is something you can do yourself if you wish. No single recovery company can return your money to you. There is no way to trace a crypto transfer. All you can do is find out which wallet the money goes to. You cannot find out who withdrew from that wallet. You cannot ascertain who owns that wallet. You will never see your money again!
Who Makes Bitcoin News Trader?
There is no such thing as Bitcoin News Trader. There is no app, there is no software, there is no robot, there is no AI! The only truth about bitcoin News Trader is that it is an advert for offshore, unregulated, bogus brokers that will use the idea of contracts for differences (CFD) trading to convince you lost your money fair and square. In reality you were was robbed. There was no way to win. There never was any way to win. That is why they introduce the idea of an invincible robot AI that can always win. This is to take you as far away from the truth of what really is happening as they possibly can. That is how a confidence trick works. It feels you with fake confidence to make you take a bad decision that cannot be easily revoked. Once you've made that bad decision and deposited your money, the scammers will try and get every penny they can from you. Once they are satisfied there is no more money to take, they will shut down, change the website and robot name, change the website, change the phone numbers and start the scan all over again.
Who is Responsible for Bitcoin News Trader?
Russians? British? We just don't know. But whoever they are they are highly organised and have a global reach. Their strategies are designed to prevent tracing of their identities and are very effective. The countries they are registering their companies in are in the middle of the ocean and very difficult to access. The chances of the perpetrators being in any of these countries are extremely remote. Most of the call centres sound like English speakers to us but we also hear about American, Israeli and Australian call centres from other victims. There are websites operating in most European languages. They operate worldwide and defraud people in Every Continent, with the exception of Antarctica. The best way to avoid these scams is not to ever believe there is such a thing as a 'get rich quick scheme.'
VERDICT: BITCOIN NEW READER IS A SCAM !!