In this quick review of Bitcoin News Trader I’ll be giving several reasons why you should completely avoid them.
Will you actually become Bitcoin’s next self-made millionaire?
Well not with this system…
Bitcoin News Trader Quick Review
Product: Bitcoin News Trader
Price: $250 Minimum Deposit
Website: bitcoinnewstrader.com
Is Bitcoin News Trader A Scam? YES!
Is Bitcoin News Trader Recommended? No!
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What Is Bitcoin News Trader?
Bitcoin News Trader claims to be a new state-of-the-art Cryptocurrency trading system that will help you become the next Bitcoin millionaire.
They claim that they have a software that scans hundreds of news sources for reliable Cryptocurrency news then automatically make successful trades on your behalf.
However there is a lot of information about it that you need to know before depositing your money into a brokerage account!
The Pros & Cons
Let’s go over some of the good and bad things I could find out about this program while I was doing my research on it.
Pros:
- Nothing
Cons:
- Little To Information
- Just Like Other Scams
- It’s Unregulated
- Binary Options Are Risky
Within the next few sections I’ll be giving many more details about the points that I just listed out!
Little To No Information
One of the first things I want to point out is that there is little to no information about the company behind this supposed system.
If this system was really making people millionaires with their amazing software, don’t you think you’d be able to find out who’s behind it?
Where are they based out of? What’s the name of the founder?
Honestly, if their was a software that was automatically making people millionaires, don’t you think you would’ve heard more about them?
Just Like Other Scams
I’ve been reviewing online money making programs for years now, and I’ve reviewed dozens of programs that are almost exactly like this one.
They claim that they’ve created some type of algorithm that allows them to predict how the market is going to go, and can therefore automatically make trades and money for you.
Well I’ve wasted hundreds of dollars trying a bunch of them out, and not a single one of them made me any money. In fact they all lost all of my money.
Some examples of similar scams are 1K in 1 Day, Free Ad Cash System, and Crypto Edge System.
It’s Unregulated
If you scroll down to the bottom of their sales page you’ll come across several disclaimers warning you about the various risks.
Including one that discloses the fact that “Option trading is not regulated within the United States…Any unregulated trading activity by U.S. residents is considered unlawful.”
A majority of my readers are within the United States, so that should serve as enough of a warning to deter you from joining.
However if you are not in the United States I still recommend that you avoid trading these options for several reasons.
Binary Options Trading Is Risky
The first that I want to point out is that you will not be investing in Bitcoin or any other cryptocurrency like they make it seem.
You’ll be trading Binary Options based on the stocks of cryptocurrencies. If you’re confused don’t worry about it, I’ll try to explain.
A Binary Option is basically a bet on whether a certain stock will rise or fall within a set amount of time. Normally 2-5 minutes or so.
So let’s say you bet $50 that Bitcoin’s stock will fall in 5 minutes, if it does, you’ll win 60% to 80% of the $50. So let’s just say $30.
However if you are wrong, you’ll lose all 50 bucks. This means that you’re basically making an unfair bet.
If a friend bet you $30 that they would pay you if they were wrong about something, but if you were wrong you’d have to pay them $50 would you do it?
What if you were betting on whether a quarter would land on heads or tails?
That’s basically what Trading Binary Options is like, you make a guess with a 50% chance of winning, but even if you win 50% of the time, you still lose money.
There is no way to figure out if a stock will rise or fall in 2-5 minutes because it is completely random.
Is Bitcoin News Trader A Scam?
I honestly hope that at this point you are convinced that its a scam. I didn’t actually invest $250 to try it out, but I’ve tried out enough similar to know it’s a scam.
Odds are that if you deposit your $250, you’ll either lose it all on trades, or they will simply take it and run. Either way you probably won’t see that money again.
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Is Bitcoin New Trader A Scam? What Do You Think? Let Me Know In The Comments Below!
YES IT IS. TOOK MY 3475 THEN TWO DAYS LATER TOOK ANOTHER £500 OUT OF MY DEBIT CARD, DESPITE BEING TOLD NOT TO TAKE ANYMORE. IN FACT, THEY WERE SUPPOSED TO HAVE BEEN DEPOSITING. The SAME THING LATER £2900 THIS TIME. ONLY THING WAS I HAD ALREADY TRANSFERRED ALL FUNDS IN THAT ACCOUNT TO ANOTHER DEPOSIT ACCOUNT LEAVING INSUFFICIENT FUNDS SO THE BANK REJECTED THE TRANSACTION. NO REASON. WAS GIVEN FOR THIS ACTION AS THEY WERE SUPPOSED TO BE DEPOSITING THE £2900. SINCE THEN THEY HAVE BEEN CONSTANTLY TRYING TO GET ME DEPOSIT LARGE SUMS TO COVER THE TAX. I HAVE TOLD THEM TO TAKE IT OUT OF THE ACCOUNT AND REFUND THE REST TO ME. NOW I AM TOLD THAT IF I DO NOT ADD THE TAX PAYMENT WITHIN 7 DAYS THEY WILL CONFISCATE THE LOT. SCAM, OF COURSE IT IS A SCAM THEY HAVE NOT EVEN REFUNDED MY ORIGINAL DEPOSITS IN FULL. CROOKS TO THE LAST