Why Bitcoin Loophole Is A Scam
If you have been keeping track of the news, you would know that crypto currencies such as Bitcoin have seen massive increase in value over the past few months. In fact, the total capitalization of Bitcoin may soon cross USD $100 billion.
There are a lot of people who have made a lot of money with Bitcoin trading as well as through other means such as Bitcoin binary options. However, this has also led to a boom of scam products claiming to make millionaires out of ordinary people with almost no investment. One such product that has gained notoriety in the recent past is Bitcoin Loophole.
What Is Bitcoin Loophole?
It claims to be a binary options trading software that claims to make use of Bitcoin in order to make money for its users. The creator of the software tells us that any user of the software can make up to $13,000 a day with just a few clicks.
In other words, they are saying that money is going to fall from the sky and all you need to do is collect it.
How Does It Work?
If you're wondering how this seemingly amazing system works, you won't find anything that makes sense. In fact, that's the goal of the people behind the software, as they use terms such as ‘complex algorithms’ and ‘super fast computers’ and ‘high accuracy’. These terms are typically associated with scams in the industry.
They don't tell you anything about how the software works and if it works, why they are giving it away for free. The creator of the software claims to be a Wall Street employee but there is absolutely nothing online that confirms that this is a real person. There are no social media profiles or forum accounts or any other such thing that proves the existence or identity of this person.
Why Bitcoin Loophole Is a Scam?
Here is a list of the reasons why you need to stay miles away from this scam.
Another Name for Bitcoin Code
This software is nothing but a rephrased copy of Bitcoin Code, that also claims to magically make money for its users. In fact, the video on the member’s page mentions that users will get access to Bitcoin code software. Pretty dumb! The people behind this software are so lazy that they didn't even bother to create a new video for pushing this seemingly new software.
Bitcoin Code is another product that also claims to have been created by the same person, Steve McKay, the guy behind Bitcoin Loophole.
Domain Registered in September 2017
This domain was registered on 12 September 2017 whereas the creators of the software claim that the software has been making money for its users for several months. It's simply not physically possible that a software that came into being only in September 2017 has been already making money for its users for several months.
This product has the tell-tale signs of being a scam. The software that is capable of making $13,000 a day is being given away for free. However, there is a catch just like all the other scam software offers that have been the bane of this industry.
Once you give your name, email address and phone number in order to get access to free software, you are asked to create an account with a preferred broker through the app. You do not have the option of choosing any broker you want. You have to go through the preferred broker and you are supposed to deposit $250 in your account in order to let the software start making money for you.
While any trading would require you to deposit money with a broker, or else how would you trade, the problem here is that you will in all likelihood never see your $250 again, even if the system works for you because the people behind the system simply cannot be trusted.
While the majority of bad binary brokers have been kicked out of the market, and new brokers have to be especially careful to not run afoul with the regulators, we did not feel comfortable with the brokers that came with this system.
No Bitcoin Needed
The creators of the Bitcoin Loophole software claim that you do not need to buy Bitcoin, and you will be allowed to trade Bitcoin without actually buying the currency. While a lot of online trading does not require you to ever physically own the financial assets you are trading, with Bitcoin trading as it stands currently you still need to own some in order to trade it.
This whole scammy system is based on luring in unsuspecting people by making unsubstantiated claims. When you sign up, this fraud software will charge $250 to your credit card and that money will most probably be gone, forever. This system is simply designed to steal your money.
Fake Testimonials and Reviews
If you take a close look at the testimonials and reviews on their website, you will find that all these photographs have either been stolen or bought from other websites. In other words, the testimonials are completely fake.
They claim to offer limited access to their software. However, you can visit their website as many times as you want and sign up to get their software as many times as you want. In other words, they are just using the classic sales tactic of scarcity in order to get people to sign up as quickly as possible, without thinking about it too much.
If you have just inherited millions of dollars and have absolutely no idea about how to spend that money, you might consider investing in this system. It will quickly spend your money and leave you wondering what happened. However, if you are smart and believe in the potential of making money through binary options, you will stay miles away from this scam software system.
It's important for you to know that it's possible to make money through binary options as well as Bitcoin. However, this “Bitcoin Loophole” software is designed to rob you of your money with no real chance of getting an increase on your investment.
There are quite a few other trusted binary options trading systems available today that can help you make decent amount of money. So, do your research and find such a system that has given proven results and is used by thousands of others all over the world, to successfully make money through binary options but stay away from this software.