Bitcoin Machine – Crypto Trading Bot Review by Traders
How to use Bitcoin Machine – full review
The first difficulty when investigating Bitcoin Machine is its generic name. That’s why we used a trick to obtain as many search results as possible. Simply by adding “official” to search terms we were able to reach results and review sites.
This, however, already raised some red flags, as this kind of language as part of website titles is a staple of scams.
One review site went into great detail about this project providing many images and convincingly reiterating claims on the supposed website. However, following the link to what they claim is Bitcoin Machine leads us to an entirely different, but known scam operation, BitQH.
This is unsurprising as indexuniverse.com is known for peddling scams and providing a level of credibility through fake reviews.
As regards the other two websites, one of which was reached through Trustpilot, there are many incriminating clues right at the outset.
First, note the vast difference between the two logos. Without going into the discussion about their quality, it should immediately raise suspicion if a company uses multiple logos and websites.
It’s not trustworthy on either of the two accounts. It could be the case that it was careless with securing its domain name and should thereby not be trusted with sensitive information.
Alternatively, it deliberately uses multiple websites and logos, but no credible company does this as it dissipates brand identity and diffuses traffic. Both of these go counter to the interest of building the brand.
Funnily enough, clicking on the first page’s logo to go to “home” leads us to an entirely new website. Remember the underlined link of that website for a minute.
Third website and third logo. Let’s discuss the underlined links.
They are actually “fake” websites in the sense that the domain isn’t even related to Bitcoin Machine. The main domains are financialmarketsworld.com and investercorp.com.
The “Bitcoin Machine” part of the link is actually found in what’s called a subdomain section. Subdomains are used to present different parts or different versions of websites to users. They are like one of the pages of a website and should be reachable either through Google search or through the website itself.
So what can we find on these “root” websites?
Empty pages with no way to navigate back. In fact, to even get here we had to manually “trim” the link, which is not something users are used to doing. Scammers rely on this to maintain the illusion.
How many websites are these domains propping up in their subdomains? Google can actually answer that with its “site:” operator.
Between the two sites, there are about 2500 ongoing scams. Just take a look at the names of these “projects”.
By now we can safely deduce that this project is very untrustworthy and is almost certainly a scam, but let’s keep the investigation going to reveal its features.
One common feature of scam sites is the overuse of generic, publicly available images and videos related to crypto, as well as generic text about the history of crypto and Bitcoin. What you won’t find much of is information about their product.
Apart from this generic video from an old news show, the other thing to note is the signup form. It includes a mandatory phone number section.
It simply makes no sense to demand a phone number from people when you’re selling crypto trade bots or even crypto broker services. Having it available, optionally, as part of two-factor authentication, is another thing.
As regards the claims, one of the two first websites is ridiculously devoid of any useful information about the project itself. The other two are more interesting to look at. For example…
We’ve seen some outright funny scam elements, but this one really takes the cake. Testimonials have been misused before in scams, but here they outdid themselves.
Consider it carefully. Here we can see names, locations, photos, and amounts of transactions. This would present a huge risk and expose these people to criminal activities. Then that scandal would spill over to Bitcoin Machine and completely ruin its credibility.
No normal company would expose its users to danger and risk this carelessly. Then there’s this…
Alright, so we’ve established one certain claim, even if it’s questionable. Consider the cost of developing and maintaining the operation. These people, if taking no money, are losing a lot of money for you to become a millionaire. The other web page presents a contradiction.
While charging a fee generally makes more sense, even this statement makes no sense upon closer inspection. First of all, 2% is a very high fee. Secondly, who will be paying it – the buyer or the seller? Or both?
Burdening only one party in the transaction would skew the incentive and affect the trading environment. Brokers usually split the fee more or less evenly between the buyer and the seller.
So which is it, in the end? No fees or 2% fees? That’s not the only money-related detail that doesn’t add up.
Introducing a minimum deposit this high is a strange decision but it’s even more unclear when considering that there are no fees (or are they 2%?)
The other website introduces another barrier.
$25 minimum stake is not ridiculously high, but the words used are odd. Stake is something normally reserved for stocks, not crypto coins. In crypto, “stake” has an entirely different use.
It refers to committing crypto assets to support a blockchain network and confirm transactions on it. In return, usually, the staking account is awarded a small number of the same coins as a reward. It has nothing to do with trading crypto coins from the account.
Finally, here is another example of strange claims and somewhat meaningless content being used to fill a site that’s otherwise devoid of any useful information.
First, there is this strange cap on our daily profits. Putting aside the fact that 60% daily growth is insane, why is there this limit in the first place? For example, let’s say that a coin becomes popular overnight and grows in price from $0.1 to $1 or $2. That would certainly be possible, although unheard of within a single day. Why is there a cap at all?
This is unclear language presented in terms of impressive growth that is otherwise improbable. Lacking any context, a little thinking about it reveals just how unfounded the statement is.
Next, there is a whole section devoted to rumors that in fact serve to namedrop. The section goes on and on about various celebrities only to reveal that the “rumors” are actually false. No such rumors can be found on the internet and addressing them on the front page would be both improper use of the front page and undesirable business practice.
Suppose there really was a rumor spreading around that Elon Musk is using Bitcoin Machine. The project can only stand to profit greatly from this and has no interest in dispelling the rumor – nor is it legally obliged to do so. The entire section just doesn’t make sense from the beginning to the end.
So far we haven’t caught wind of who is behind this project, which is strange. You’d think such an ambitious project would have a face, a spokesperson, someone kicking up dust on social media to raise brand awareness.
It was a source for one of the websites analyzed here and is otherwise a good source for reviews as it is popular and sometimes verifies reviews.
This website is the only one represented on Trustpilot and gives almost nothing of use save for one additional false piece of information.
The company claims it has received an award from this institution, but a simple search reveals that no such thing exists. This is yet another in the series of falsehoods presented regarding this project.
As regards the stated physical location of the offices, the following was provided: 5 Tanner St, Bermondsey, SE1 3LE, London, United Kingdom.
It’s just an office building where anyone could rent office space, but more importantly, there is no trace of this company ever existing here.
This exhausts our search for information and we are only left with investigating the domain registry.
Domain Registry Lookup
Using ICANN Lookup we can attempt to discover the identity or location of the person who registered these websites. We’ve already established that these are huge scam operations so not much is to be expected.
Although we haven’t been able to point our finger at any one responsible person in the case of this scam, all the elements together are quite damning and that brings about a satisfying conclusion to this little investigation. Bitcoin Machine is a scam.
FAQ on Bitcoin Machine
What is Bitcoin Machine?
Bitcoin Loophole is just one in a very long line of scam operations.
Is Bitcoin Machine a Scam?
There is no doubt that it is. The evidence is overwhelming.
How much money can I make with Bitcoin Machine?
Making money with Bitcoin Machine is impossible. Losing money, however, is quite certain.
Is Bitcoin Machine legit?
No, it’s a scam.