Trading cryptocurrencies is big business. And where the money is, you can always expect to find scam artists lurking and waiting to pounce on unsuspecting investors.
The latest cryptocurrencies trading scam is bitcoin wealth. It’s being marketed as an automated binary options trading software that will make you thousands in profits per day.
Since its launch late September, there’s no doubt that it has received a lot of interest.
But every wary trader is asking one question.
Is bitcoin wealth a scam?
This bitcoin wealth scam review will expose all the details that make this system one you should totally avoid.
Very few options traders can overlook a free opportunity to make money. Bitcoin wealth is marketed as a free to join system.
However, it comes at a price. You’ll be expected to deposit at least $250 with the broker you’re assigned to enjoy the benefits that come with this system.
And that leads me to the next red flag
Bitcoin wealth will only link to unregulated brokers. This means that your money will be held by a business that might decide to disappear and have no one to answer to. When this scam is finally exposed and goes under, anyone who invested their cash will lose it. Two brokers this software is linked with are ArgusFX and Pure Market.
Trying to link the software to a regulated broker account will simply fail.
The claims made are unrealistic
The promo video makes a bold claim that you can earn a minimum of 0.3 bitcoins per day on autopilot. Calculating based on the current bitcoin value, that’s at least $1000 per day.
This claim is based on the software’s programming. According to its creator, it uses artificial intelligence algorithms which make it almost impossible to lose on a trade.
Regardless of how any options trading bot is programmed, the possibility of losing on trades is always there.
You cannot see how this software works
After dishing out several hundred dollars with an unregulated broker, you can expect to earn thousands of dollars per day on autopilot.
Without knowing how this software does it.
While I wouldn’t mind making money this way, I don’t believe that the bitcoin wealth app is the way to do it. There’s too much risk involved and there’s no way of knowing whether any trades entered have ended ITM or OTM.
Fake owner and testimonials
The bitcoin wealth scam was purportedly created by Max Carney. After conducting some research, I found the same person being the creator of a similar cryptocurrency scam system called Crypto Wealth. Besides both systems’ creators having similar names, they’re quite similar in design.
The system’s marketing involves the use of video testimonials. None of them sound convincing. In fact, I suspect that these are paid actors reading off scripts meant to paint a rosy picture about this scam.
That’s not all. The earnings disclaimer used in the promo video explains that all messages are meant to demonstrate what the app can do. You won’t find a clip of the software actually placing trades or making any user some money.
There’s no doubt that bitcoin wealth is a scam. It’s designed to lure in unsuspecting traders by being packaged as a free to join the system. Once you’ve invested your money with one of their unregulated brokers, you will be expected to trust a bot whose working you cannot understand to make you thousands of dollars each day. There’s no doubt that there’s a lot of money to be made trading cryptocurrencies. However, it’s not worth it to invest your time or money with the bitcoin wealth scam.