Bitcoin Loophole is a new get-rich-quick trading software that caught our eye. With its vague site, impossible promises, misleading video and unregulated brokers, this software has proven to be yet another scam in the trading market. Our team took a thorough look at Bitcoin Loophole’s site and platform and created a detailed list and review of all the red flags we found. Investors should take a close look at this example, so they can instantly spot a scam the minute they see it.
“Steer clear from fraudsters like Bitcoin Loophole and always trade with trusted robots like FXMB”
What is Bitcoin Loophole?
Bitcoin Loophole is a trading software that claims to take advantage of the huge returns of the first and arguably most famous cryptocurrency, Bitcoin. Like similar software, they simply connect users to unregulated brokers. With a $250 deposit, users are promised direct and exclusive access to a “path of success” that will potentially help them earn thousands of dollars for the rest of their life. As mentioned in the beginning of this article, this is a scam and our team has listed for you below all the red flags to prove it.
Red Flag 1: Get-Rich-Quick Promises
Right off the bat, this software promises to pour $13,000 into users’ bank accounts in merely 24 hours. When watching their video, the only information that is communicated is how much money you can make and how fast this money will magically appear in your bank account. There is absolutely no mention of the type of platform used or even how it works.
Instead, they continuously state that nearly $14,000 will be deposited into users’ accounts, with a guaranteed $500 an hour. Their fake testimonials try to justify the $250 deposit to gain exclusive access to this “revolutionary software” by confidently stating: What is a simple $250 investment (the minimum deposit) compared to thousands of dollars pouring into your bank account for the rest of your life?
Investors should always be skeptical when a trading software promises alarming amounts of money, because in reality, trading always entails some degree of risk and no broker or software can predict any profits. The minute you see statements such as these, never think twice and walk away.
Red Flag 2: Vague Site and No Company Name
When taking a look at their site, once again, no real information is communicated. They simply have a video stating how much money you can make, more text saying the same thing and a few “articles” about a 25-year old Bitcoin millionaire that made a fortune and is living his best life in exotic locations. When clicking on “read more” though, no article is found. This pattern is similar across the whole site.
What’s more, no company name was found anywhere. The man behind this software, Steve McKay (if that is even his real name) describes himself as a “developer turned investor” and gives no further information about the company behind Bitcoin Loophole or his exact place in it.
Users should always look carefully at the sites and try to find real information behind buzzwords and trader testimonials, like the company behind this software and of course, their license (discussed below). Investors should also note that while this was an unprofessional site that had hardly been worked on at all, fancy-looking professional sites do not guarantee security. The most professional-looking site could actually be another scam.
Red Flag 3: Unregulated Brokers
Finally, when users register with Bitcoin Loophole, they automatically get redirected to an offshore broker’s platform. The brokers used here are all non-regulated and unlicensed. This, of course, is yet another big red flag. Investors should never deposit money with non-regulated brokers, because most of these companies are making a living off scamming unsuspecting customers. Always make sure to do your research and know who you are depositing to.
Conclusion: Bitcoin Loophole is a Scam
After carefully reviewing this new software, our team has concluded that Bitcoin Loophole is not to be trusted because it is in fact another scam. Scams can be quite common in this industry, so traders should always use the tips we provide on how to avoid them. There are real brokers and excellent trading software out there, one only needs to know how to recognize it.