IS BITCOIN WEALTH A SCAM? KNOW THE WHOLE TRUTH ABOUT BITCOIN TRADING BOT
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.
The Bitcoins Wealth Club Scam Is a Combination Of Many Scams!
This is perhaps the major component of bitcoins wealth club scam. This, along with other methods, is how Vitaliy makes money off you. What he does is refer you to other Ponzi schemes and get paid for it. It is even worse because most of the platforms he refers you to are not licensed and are also out to steal your money. They include;
USI-Tech parades itself as an automated trading software developer, with claims that they have achieved returns of 150% for their clients in the past. However, there is no trade history to prove this claim. There is also a false claim that the company is headquartered in Dubai. I did a thorough search and found that there is no such registered company in Dubai. They even provided a business registration number “ICC20160282” but it came back unfound
Furthermore, the Bitcoins Wealth Club review company was founded by two known scammers; Ralf Gold and Joao Severino. While Ralf Gold is an unrepentant fraudster, having been associated with past scams including AdsProfitReward, HourlyRevShare, and MX Fast Money, Severino is known for his part in the famous AMC Invest fraud. If you intend to get involved with such a company that charges €600 for automated Forex trading and €50 for its bitcoin package, be ready to lose your money.
- Trade Coin Club
Another scam platform that Bitcoins Wealth Club scam refers you to is the Trade Coin Club. You would begin to wonder if Vitaliy Dubinin decided to put all the known fraudsters together into a network of scammers. This is another cryptocurrency-based Ponzi scheme. The first thing I noticed is that there is no known owner or creator of trade coin club. I always tell people to stay away from anonymous platforms because some of them are scams
Secondly, there is no identifiable product that the Bitcoins Wealth Club system offers. Members are just supposed to sell the Bitcoins Wealth Club review website’s membership to other people and get some commissions in return.
There seems to be a never ending stream of investing scams that are rolling out these days. Automated investing combined with FOREX seems to be the sweet spot. Add a dash of Bitcoin and the story is complete. Take something that few people understand and automate it. What could possibly go wrong? My subscribers have requested that I take a look into USI-Tech. Here is what I have found.
USI-Tech Scam Claims
IN THE PAST WE HAVE MANAGED TO OBTAIN A PROFIT OF UP TO 150% FOR OUR CUSTOMERS!
The objective for USI-Tech was the logical development of a fully automated trading software, with which “smaller” investors may also participate in the FOREX market. Originating from the technical complexity and many characteristics of the FOREX market this project could now be successfully completed, after 7 years of intensive development work. As a result, today, the company can offer a fully automatic trading software to its customers. In numerous intensive tests consistently outstanding results were achieved, in practice, with excellent profits.
Average 1% Daily Payout, 5 days per week.
Here is how this money making opportunity is presented:
USI-Tech Scam Reality
USI-Tech claims to have its headquarters in Dubai. The address they provide is a P.O. Box: USI – TECH Limited P.O Box 122036 Dubai UAE. USI-Tech began its pre-launch in September 2016.
I was unable to find USI-Tech listed as a registered company in Dubai. Their registration number ICC20160282 returned not found. It turns out they are registered as a company in Ras Al Khaimah. Ras Al Khaimah is a common place for offshore companies to register a company in the UAE. There is no way to know where USI-Tech is actually located at with this type of offshore company registration.
The founders of USI-Tech are Jao Severino and Ralf Gold.
Jao Severino (JOÃO FILIPE FERNANDES SEVERINO) has been barred from financial activity in Portugal because he was involved with another scam called AMC INVEST.
AMC Invest offered 10% interest per month on investments and it ended up scamming hundreds of people before it was taken down by the authorities. People were arrested for this scam.
Ralf Gold has promoted many money making scams in the past as well:
- AdsProfitReward 2012
- MX FAST MONEY 2013
- WORLD CONSUMER ALLIANCE 2013
- HourlyRevShare 2013
- AdsProfitWiz 2013
- APR CLICKS 2013
- UPPERGAME 2014
Speaking of USI-Tech’s owners, since BehindMLM published its original USI-Tech review in late 2016, they’ve been outed as Joao Severino, Horst Jicha and Ralf Gold.
Severino is from Portugal, Gold is hiding out in Brazil and Jicha appears to be in Europe.
What’s particularly interesting is the claim “USI-TECH NOW IN USA” on the USI-Tech website.
Alexa estimate the US is the top source of traffic to the company’s website, meaning USI-Tech is and always has been “in the USA”.
With its MLM offering clearly a securities offering, that nothing comes up for “USI Tech” or any derivatives in the SEC’s Edgar database should be of concern.
A legitimate company cannot offer securities to US residents without SEC registration.
Hardly surprising though, considering USI-Tech aren’t registered to offer securities in any jurisdiction they operate in.
With promises of magic 1% daily ROIs, it’s easy to forget that USI-Tech launched less than a year ago.
Two years on average is about the tipping point for online Ponzi schemes, with USI-Tech arriving at this point a lot earlier.
The introduction of bitcoin investment to resuscitate the business will only prop up reserve funds for so long.
At 1% a day and with referral commissions to pay out, it takes approximately two to three months for USI-Tech to start losing money.
From what I was able to ascertain, USI-Tech introduced bitcoin investment in late May. This means we’re coming up on almost two months, or approximately 60% of initially invested funds paid out.
The Ponzi veterans trying to recruit you now need you to invest so they can collect their 140% ROI at 140 days.
When your own 140 days comes up, unless an endless stream of gullible idiots continue to invest, there’s going to be nothing for you to withdraw.
It’s not quite as harsh as the 200% model in 90 days bitcoin scams like GladiaCoin and JetCoin pushed, but the inevitable collapse of USI-Tech is still going to leave the majority of investors out of pocket.
Unfortunately by the time you realize there’s no money left, those who recruited you will have stopped responding to your emails and moved onto promotion of the next Ponzi scam.