Robot Bitcoin is your usual suspect. The reasons as to why you should stay away from such trading apps is because they have been recycled many times under different names. But the product remains the same. The algorithm remains unchanged. The fate of the user is obviously sealed in the sense that you can never realize any miraculous returns with such generic bots which are sold as white labels.
According to the name of the site, Robot Bitcoin seems to be a trading bot designed for trading of Cryptocurrencies. However, on the video which we find on the homepage, the story is quite different. The video is talking about how this bot is trading Forex pairs in form of binary options. So this is the first red flag and giveaway that the robot we are dealing with is a classic scam that not only recycled a former binary options robot, but also copy pasted this video into their website due to laziness.
We don’t honestly believe that such lazy people can come up with a working solution for trading Bitcoins and other Cryptocurrencies. These people are already giving us all the proof we need in order to conclude that Robot Bitcoin is a scam bot. So what else do you still need?
Before we can go any further, we advice you to check out these recommended Bitcoin trading bots and pick one if you want to proceed with trading. As for the Robot Bitcoin app, we will expose the elements that are making it an outright fraud.
The main selling point is that Robot Bitcoin is supposed to be an automated solution for trading Cryptocurrencies. We also presume that the reason why the anonymous developer is offering it is because it is profitable or they want traders to use it.
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We want to bring to your attention that this robot is a scam. It has been used hundreds of times before. Only logos and names have changed in every instance of a scam that Robot Bitcoin appeared. It used to be popular in the Binary Options niche. And as you can see on the sales pitch, the video was recycled from an old binary options scam.
The scammers just couldn’t find time to put in the effort needed in order to come up with their own video. This also shows you that whatever they are offering is not of quality. If they can’t spare time to make a professional presentation, it only means that the service is not a good one for you. Anyone who ignores these red flags and goes ahead to invest funds here will lose it all. There is no doubt about this presumption.
The other thing that we want to bring to your attention is that this software has one dirty feature which the owners are not always switching on. But when they do, this feature usually fools a lot of people on the internet. We almost got fooled by this feature when we first started trading on the internet. The feature we are talking about here is a demo account. The robot is designed to give access to a fake demo so that users can try it out to see whether it works before going full throttle on the bot. This demo feature is malicious because it is programmed to use fake price feed and results are always being manipulated in favor of the trader so that the naive trader can be convinced of the profitability of the software.
We have discovered that these demo results are fake, and can never be replicated into a live trading environment. That’s why we call it one dirty feature.
The other thing is that a lot of users have confirmed that this breed of robot is always losing money. This includes Robot Bitcoin and other robots that are using the same platform but different names and logos.
The main purpose of a trading bot like this one is to make you deposit funds with an unregulated broker. The pattern is always the same. The reason as to why these scammers will push you to make a deposit is because they are paid by those brokers when they bring in new clients.
The way it works is that the scammers will offer a free robot and ask you to deposit funds with their selected broker so that you can begin using the bot for free.
It is the reason why these crooks will tell you that the bot can only be activated once you make a deposit with real money. It cannot be used on a demo unless this feature is enabled. And when that’s the case, they’ll still fool you with the trading results so you can think that those results can be simulated in a live trading environment.
The truth is that when you make a deposit, you will lose the money. The robot will definitely have an auto trading option which if utilized, the bot will start trading and losing your funds. It will only stop when your account is empty.
Also, most of the time, this robot comes with the usual Forex indicators that can be found for free on any charting solution. The reason you can play with the settings is because it is build with indicators on it. These can be fine tuned to command the robot to trade in a specific way. It will still lose money anyway.
We have seen Robot Bitcoin many times before. It keeps resurfacing under different names and logos. So if you don’t fall for it when it’s known as Robot Bitcoin, you will probably fall for it if you encounter it in another name (that is, if you fail to conduct due diligence). But we hope that this will never happen to you. Probably you should start using these Bitcoin trading bots rather than keep pursuing every ”new” robot that gets introduced into the market.
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