As a newbie in the crypto world, you’re probably jumping for joy. The software may seem like the perfect solution as it lets you make money while doing the hard work of analyzing the markets for you.
Unfortunately, it’s too good to be true.
Bitcoin Profit is a scam that all investors should avoid. In our Bitcoin Profit review, we uncover what other online reviews fail to report about this site. Read on to learn who the site targets, how it tricks investors, why you shouldn’t use it, and other important info.
Bitcoin Profit Quick Summary
Bitcoin Profit claims to be an auto-trader that invests your money in cryptocurrencies. Users can sign up for an account, make deposits, and set parameters that adhere to their trading strategy. Then, the platform analyzes trends and uses your money to conduct profitable trades.
Well, that’s the idea anyway. We’re sad to report that the software is nothing but a scam. While some users can withdraw small earnings, most end up losing their entire investments.
Investors continue to fall prey to the Bitcoin Profit scam because of the company’s vigorous marketing tactics. It does everything it can to lure in unsuspecting traders, using fake celebrity endorsements and hiding negative reviews.
5 Reasons Why Not to Use Bitcoin Profit
When you look past the positive press, you discover many reasons why you shouldn’t use the platform. Here are five that will convince you to stay far, far away.
1. Ridiculous Claims
The claims across multiple Bitcoin Profit variations are ridiculous. One site claims that users can make $800 per day on a $250 deposit. Another site, Profit Bitcoin, says that members average $13,000 per day. If these returns were legit, everyone would be using the platform.
2. Constant Phone Calls
Victims of Bitcoin Profit fraud face constant phone calls. When you provide your number upon registration, a team member will instantly call you to request a deposit. Subsequent calls will pressure you into depositing even more money.
3. Bad Reviews
It can be difficult to track down bad reviews of this platform as it has a great marketing team.
However, if you look hard enough, you’ll find plenty of user complaints. For instance, check out mobile Bitcoin Profit app reviews — British Bitcoin Profit and other versions of the software have poor user ratings.
4. Fake Endorsements
One tell-tale sign of any scam is fake endorsements. After all, why would the company need to make up testimonials if its software was legit? It uses famous names like Filip Hammar and Camilla Läckberg to back its service, even though they don’t endorse it.
5. Steals Your Money
Perhaps the most compelling reason not to use this platform? It steals your money. Many users report that they lost their investments because the company purposefully conducted losing trades or made it impossible to withdraw funds.
Who Does Bitcoin Profit Target?
While anyone can be a victim of Bitcoin Profit fraud, the platform primarily goes after new investors who don’t know much about crypto trading. It appeals to their lack of knowledge and strives to offer an easy solution. By claiming to analyze the markets and make intelligent trades automatically, the software appears to be a helpful investment tool to those who don’t know any better.
Additionally, the platform targets people looking to make a quick buck. It acts as an exclusive “get rich quick” scheme by promising that members make hundreds (or even thousands) of dollars per day. The software’s websites entice people to join by featuring luxurious pictures and reviews discussing how users use their earnings to live lavish lifestyles.
You should also know that the platform doesn’t discriminate when it comes to geographic location. It goes after investors no matter where they live as it allows users to access the site in 13 languages.
Finally, while the platform tries to appeal to as many people as possible, it targets those who are willing to spend money to earn money. Users must be willing to provide a $250 minimum deposit. Through constant phone calls, the company attempts to get you to deposit even more.
Bitcoin Profit Company Information
Because the company is not legitimate, it provides little to no information about its origins. We know that the scam has been around for several years and operates under different names and URLs.
The “standard” platform appears to be Bitcoin Profit, though you may also run across sites and apps like Profit Bitcoin, British Bitcoin Profit, etc.
Even though the names are different, they all use the same software to steal your money.
Bitcoin Profit Scam or Safe?
At first glance, the platform appears legitimate. The main website has a clean, professional design and plenty of information on how it operates.
However, these features create a false sense of security. A closer look reveals many sketchy things.
For instance, the website claims to have relationships with reputable brokers but offers no proof. Meanwhile, its marketing efforts hide reviews from users who’ve had poor experiences, and the company has created multiple variations of the platform to mask controversy.
If you need further proof, consider that the Financial Markets Authority, New Zealand’s major financial watchdog, issued an official warning against Profit Bitcoin.
In short, the Bitcoin Profit scam is real, and you should avoid it at all costs.
How Bitcoin Profit Tries to Scam You
The platform uses a range of manipulative tactics. As we mentioned earlier, it promises that it will generate big rewards using small amounts of money. It further entices you by making the signup process free and easy.
One major red flag is that the company pressures users into becoming members. For instance, the website states that you should sign up now while the platform is still free, even though it’s unlikely there will ever be a registration fee.
Additionally, users face a countdown when verifying the bank details. The pressure can prevent them from thinking the decision through.
Once the company ropes you into its scam, it’s unclear exactly how it takes your money. Users speculate that it conducts losing trades on purpose or makes it hard to withdraw your money.
How Does Bitcoin Profit Work According to Itself?
Below, we take a look at how the company claims to operate.
Bitcoin Profit Account
Making an account is easy and simple. All you have to do is provide your first name, last name, email address, and phone number. Once you verify your contact information, you can log into your account.
Bitcoin Profit App
Note that while you can use the platform through a web browser, it’s also available on mobile devices. App variations include the Bitcoin Profit App and British Bitcoin Profit, both available on iOS and Android.
Bitcoin Profit Trade Experience
At a glance, the trade experience seems to care about your success. The demo mode lets you test out the platform’s features before risking real money. Additionally, you can adjust the trade settings to ensure the platform adheres to your unique investment strategy.
Bitcoin Profit Automated Trading
While the platform offers some degree of customization, it claims to rely on automated trading. Automated trading (also known as algorithmic trading or black-box trading) analyzes the crypto markets and executes orders on your behalf.
This strategy has some advantages. Because it relies on advanced AI to make smart trades, it is free from human emotions that can impact decisions.
Unfortunately, the company doesn’t want to use its software to make you money. It lures you in with the benefits of auto crypto trading and keeps your deposit for itself.
Bitcoin Profit Fees
It is entirely free to sign up for an account. However, the website will charge a 2% commission fee on every profitable trade. It claims that there are no charges for unprofitable trades and no hidden fees. However, this is all part of the fraudulent setup to lure unknowing customers to lose their money.
Endorsement by Celebrities and TV Shows
The company’s marketing team has attempted to build trust throughout the years and create buzz through fake testimonials. Here are a few of the most prominent false endorsements:
Shark Tank is a popular American TV show where companies seek investments from successful entrepreneurs. While the sharks may have been interested in revolutionary auto trading, Bitcoin Profit never made an appearance on the show.
Dragons’ Den is essentially the British equivalent of Shark Tank. Like its sister show, it never featured the crypto trading platform.
Exposure on This Morning, a British daytime television program, would’ve been huge for this platform. But, again, the platform did not have a spot on the show.
Many investors know that Bill Gates is a big proponent of cryptocurrency. However, he never endorsed this auto trading platform.
The marketing team has tried to use Gordon Ramsay’s broad reach to promote its software, even though the world-renowned chef has not endorsed it.
Fake Bitcoin Profit Reviews and Reputation
To generate positive press, the marketing team often partners with blogs and news outlets. These sites write positively about the platform to encourage users to sign up and earn a commission. However, many sites only talk about how the platform should work and not how it scams users.
When verifying the authenticity of this software, you should also consider popular review sites like Trustpilot. See below for an overview of what users are saying on this platform.
From British Bitcoin Profit to Profit Bitcoin, Trustpilot features many listings for the company.
The positive reviews are questionable as they primarily come from users with no history of Trustpilot reviews. As more people have become aware of Bitcoin Profit fraud, there seem to be more negative reviews. One listing in particular highlights that the app is something you should avoid.
Bitcoin Profit Security
The website claims to have many security measures in place, such as AES encryption. It also states that it complies with data privacy laws and has partnerships with reliable brokers. However, based on real user experiences, it’s safe to say that these claims carry no merit.
When you first research this platform, it seems like the solution you’ve been awaiting. It has tons of positive online reviews and claims to yield big rewards. Best of all, it promises to take the hard work out of crypto trading so that you can enjoy your earnings.
However, as our Bitcoin Profit review has highlighted, the platform is fraudulent. It targets hopeful investors who will only end up losing their investments.
Bitcoin Profit FAQs
Is Bitcoin Profit legit?
The platform is not legit — it is a scam that operates under several URLs and swindles investors out of their money.
How to stop emails from Bitcoin Profit?
There is no clear way to opt-out of emails from this company. Try clicking the “Unsubscribe” link in the footer if it’s present. If not, contact the support team to request removal from the email list. Or block them entirely with your email client.
How to withdraw money from Bitcoin Profit?
The website claims that users can make withdrawals at any time and that they only take 30 minutes. However, seeing as the company is a scam, it’s unlikely you’ll be able to access any earnings.
How to remove the Bitcoin Profit app?
To remove the Bitcoin Profit app, delete it from your device.
Can you make money with Bitcoin Profit?
While the company may make you some money to build your trust, it’s common for users to lose their entire investment.
How does Bitcoin Profit make money?
The platform makes money by charging a 2% fee on profitable trades and by withholding your funds against your will.
How much is the Bitcoin Profit minimum deposit?
The minimum deposit is $250.
Is Bitcoin Profit a fraud?
The platform is a fraud that uses many sketchy tactics, including manipulative marketing and fake testimonials.