The market for trading software is vast. No matter how experienced you’re in trading, it’s hard to know if you can trust a product. The situation with scam projects is complicated by the wide variety of tools that fraudulent actors use against us to steal funds and personal information or to get you to participate in the scheme.
The good news is that you can see some clear patterns. That being said, many of these fraudulent actors aren’t good enough at hiding their evil intentions.
We have compiled a list of 5 scam crypto bots and highlighted the techniques used to trick users into using them. After this article, you’ll cross these particular bots off your list and learn the patterns you can apply in your further investigation of trading software.
Bitcoin Circuit Scam Crypto Bot
Bitcoin Circuit trading bot is a textbook example of scam project. There are a variety of conspicuous things right for starters. But let’s start with the main difference between a fake and a real bot: you can’t find any technical details whatsoever. What is the algorithm, the strategy used to achieve the promised 90% profits? Apart from that, there is no information about who and when created the bot. Moreover, you can read in the terms and conditions that your personal data will be shared with third parties.
Pattern: dull web design, no technical details, no security protocols.
Read the full review: Bitcoin Circuit – Crypto Trading Bot by Traders
Bitcoin Code Fake Trading Bot
No, your eyes aren’t deceiving you. It uses the exact same web design as Bitcoin Circuit. When you open the main page, you read a fictional story that is mostly about Bitcoin itself, and no clear information about the Bitcoin code trading software. What is different is the story about the creators, but again, there are no names, dates, or other valid information can be found.
Not to repeat ourselves, let’s introduce another pattern. This one is beyond “THE OFICIAL WEBSITE 2023”, but in the affiliated websites that give the fake crypto bots high rates and good ratings. If you google “bitcoin code review”, the first link will pop up, convincing you that this bot is legit and the success rate is 99.4%. Funnily enough, these reviews are just as fake as the fake bots.
Find more details: Bitcoin Code – Crypto Trading Bot Review by Traders
Bitcoin Fast Profit Scam Trading Bot
Bitcoin Fast Profit is a bit further than its aforementioned trading bots. It’s said that Bitcoin Fast Profit is an automated trading bot, but no details were revealed. As you can see, the web design is pretty much the same; no names and no securities measures are highlighted.
Don’t get bored, because there is a new fake trading bot pattern: generic people giving feedback. Clearly, generic photos and names with good reviews are introduced to convince people to use the software.
Dive into the full article: Bitcoin Fast Profit – Crypto Trading Bot Review by Traders
Bitcoin Formula Scam Trading Bot
Bitcoin Formula is no exception. Once you create a new Bitcoin Formula account and start trading, the platform promises up to $5,000 in profit per trading session, which is clearly highly exaggerated. While Bitcoin Formula tries to lure you in, the content contains grammatical errors. How can you trust the website when they can’t hire an English-speaking writer?
Pattern: poor content
Read the full review: Bitcoin Formula – Crypto Trading Bot Review by Traders
Bitcoin Machine Scam Bot
While we were investigating this crypto bot, the first problem occurred: its generic name. The fraudulent actors made this on purpose, so those searching for Bitcoin ATMs would visit the website. Secondly, the website was spotted in frequent changing of domain and logos. Moreover, this fraudulent project promises not to charge any fees or commissions. How is the team making money?
Another pattern: constantly changing logos and domains.
Find out more: Bitcoin Machine – Crypto Trading Bot Review by Traders
Behind all those crypto bots are clearly the same fraudulent actors. Starting from the same design and content to the same terms and conditions, the use of all these crypto bots must be avoided. Never fall for high returns or great reviews, even on trusted review platforms, and double-check everything.
The group behind all these projects has already fooled thousands of users. This allowed them to not only create the websites but buy reviews on trusted review platforms like Trust Pilot and create even more websites with full articles pretending to be legit.
As promised, there are 5 patterns you learned from this article:
- dull web design, no technical details, no security protocols
- fake reviews on affiliated websites
- generic feedback from people
- poor content
- constantly changing logos, domains
Just stick to your guns, as there are legit trading bots worth it: Best Crypto Scalping Bots For Beginners