We visited a website called aitrades.org which claims to offer Bitcoin trading and management services using cutting edge technology like AI trading. They state the following on their website and of course they want investors to believe that AI trades is really investing their clients funds in trading of Bitcoin.
They claim the following: A platform like no other to harness the powers of Artificial Intelligence and Cryptocurrency. Great things are in store when these two technologies are combined. Predictive analytics is an area that can streamline information, processes, data, and profit when combined with the power behind crypto. Experience the future with AiTrades!”
The company claims that it is harnessing the power of intelligent machine learning, professional trading expertise, and block chain technology. They want investors to know that Artificial Intelligence can be summed up as the technology that can think and act for itself, and thus it is perfect for complex trading applications where speed and efficiency are key.
The company in question claims to make use of AI robots for market analysis and search for financially advantages. They claim that they are intending to use this robot for margin trading on exchanges specifically for for arbitrage
between exchanges. At the moment, AItrades.org is claiming to trade multiple crypto currencies as well as investing in AI power nodes. Everything seems to revolve around AI technology but what you must know is that with this company, there is no evidence that there is AI technology in use. In fact, there are several things that are wrong with this website which we have already considered a red flag. Before you ever think of investing with this website, you should go through the reasons why we believe this is a scam and make up your mind thereafter.
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The platform touts a number of features which they say will be beneficial to enthusiasts. The platform is claiming to provide trading, analysis of offers and opportunities in addition to Crypto trading.
In their about us section, they make the following controversial statement which is hard to believe if you do research and find contradicting evidence: Cryptomatic by AiTrades has been actively involved in the payment terminals market for the last 5 years, with more than 2 years of involvement in the cryptocurrency industry. We manufacture and distribute ATMs around the globe in more than 25 countries!
They make the following statement on their site: Buying, storing and selling cryptocurrency in absolute safety. Proprietary trading bots for novice to expert crypto-enthusiasts are complete and being taken online! Control your own exchange account while executing trades using Reservation, Strategy, and Line trading options in our custom trading console.
AI Trades claims to provide multiple forms of income using AI technology to harness multiple streams of income. These include the use of bots to trade the coins. This is explained in the statement below:
“Analysis of the most profitable offers on the market with the help of AI technology to capitalize on Arbitrage. Manual trading bots, Marginal trading bots, Long-Short scalping, and MTS are used to harness multiple income streams.”
In a bid to explain how copy trading is done on the platform, they want investors to believe this statement: Our expert traders use proprietary AI robots for maximizing cryptocurrency gains. Our new Ai Copy Trades puts you in control of your exchange account but with our professionals executing the trades. Nothing could be easier!
Other income generating opportunities include citing various altcoins to invest in, participation in promising ICOs (Research of projects that enter the market for participation in the most successful) etc.
The company is also allegedly involved in distributing Crypto ATMs around the globe. There’s no truth about this. Look at this statement: Cryptomatic by AiTrades has been actively involved in the payment terminals market for the last 5 years, with more than 2 years of involvement in the cryptocurrency industry. We manufacture and distribute ATMs around the globe in more than 25 countries!
On their website, they are making the following statement: Created by entrepreneurs from different continents, IT professionals, professional traders, and highly qualified legal team. Our human traders might be off at nighttime, but our bots are on the job and trading 24/7. We are developing the most advanced software in order to achieve new financial heights together.
AI Trades is enticing investors to join their platform using several statements that suggest they are soliciting funds from the public.
“Find out how much BTC you can get per day/month/ year with AI Trades. There is no set or guaranteed percentage for gains when trading cryptocurrencies. Trading based on market movement and gains earned by real trading will fluctuate from time-to-time. Particularly when bitcoin is outperforming altcoins. The percentage is reconciled periodically, so you will see changes to the amount of earnings percent from time to time. This calculator is provided simply to provide an estimate.
We are not a license investment Company. We are a Bitcoin management Company. We manage our members Bitcoins and return a ROIB daily. We do not give any guarantees. The crypto market is a very volatile space. This Calculator is to give you an estimate of what could happen.”
For such an investment platform to operate, they need to be authorized by the relevant authorities. We have no idea where AI Trades is based at. So we cannot say for certain whether they should be regulated by the FCA or the SEC for that matter.
Our conclusion will definitely be hash because AI trades fails to convince us of their legitimacy. Getting into this MLM or Ponzi, isn’t getting into crypto trading or investing, it is getting into deep doo doo. Bots, my arse! If you want to invest, please do so using credible tools that are used to trade Crypto.
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