Highlights
Pros&Cons
Pros
- No advantages, just a lot of questions and signs of a scam
Cons
- Misleading promises and obscured information in promotional materials
- No one found on the provided physical address
- Users claiming to have lost the $250 minimum deposit
- Fake reviews and testimonials
Key takeways
- Behind the hype and dubious marketing is just another scam bot.
- Many websites with different information.
- No information about innovative algorithms or even owners.
- One of the sites is characterized by high user traffic, but this is not a sign of the program's reality.
Overview
Table of Contents
What is Bitcoin Machine?
Bitcoin Machine is a trading platform that relies on artificial intelligence, which was created a few months ago and has quickly become one of the most discussed automated crypto trading platforms on the internet and cryptocurrency market. The fundamental concept behind utilizing the Bitcoin Machine trading robot is to provide access to reliable trades, which are based on a reasonable price for bitcoin.
Bitcoin Machine appears as a fully automated crypto trading platform that is meant to assist crypto traders in minimizing risks while also enhancing profit possibilities. Working with advanced, but user-friendly software enables new and experienced traders to gain regularly large profits from the bitcoin market.
It has been revealed that the robot is capable of identifying trades that are profitable and completing them in real-time. Also, it is able to identify patterns pretty quickly. They claim that after having established the trading parameters under which the robot must work, the user can start a live trading session. To help minimize losses from market volatility, the robot must also stop losses from taking place.
The robot’s developers claim that their AI coupled with analysis of different market conditions gives their application an edge to make the best possible trades.
Note: Distinguishing between Bitcoin Machine and the bitcoin machines (ATMs) that allow traders to make cryptocurrency transactions is important; these machines are not the same as the Bitcoin Machine we are talking about in this review.
Does the Crypto Trading Platform Bitcoin Machine Work Effectively?
Researching the Bitcoin Machine proves to be a challenge for the sake of finding relevant and current information. 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.
A small term-boosting tweak such as adding the word “official” to your search terms can be very effective in reaching review sites for your brand or company. That’s why we used that simple trick.
This, however, already raised some red flags. The fact that the website is loaded with this type of language, especially in terms of the website’s title, which is a staple of fraud made us a little skeptical of the Bitcoin Machine.
One review site went into great detail about this project providing many images and convincingly reiterating claims on the supposed Bitcoin Machine website. However, if you were to follow 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.
Regarding the other two websites, one of which was reached via Trustpilot, you will find plenty of incriminating clues right at the outset.
The first thing to note is the difference between the two logo designs. Without going into a discussion about their quality, it should immediately raise suspicion if a company has multiple logos, websites, and/or marketing materials to represent their company.
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 as well as the third logo. Let’s talk about the underlined links.
They happen to be actually “fake” websites inside of the sense that the domain isn’t even related to Bitcoin Machine. The main domains happen to be financialmarketsworld.com as well as investercorp.com. These 2 sites is a well-known scam network, that includes a number of other fake crypto platforms like these:
The “Bitcoin Machine” that belongs to the link happens to be actually found inside of what’s called an existing 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. Many scammers frequently rely on this to maintain the illusion.
How many websites are these domains propping up in their subdomains? Based on the information provided, Google can actually answer that with its “site:” operator.
More than 2500 ongoing scams have been found on these two sites. Just take a look at the names of some of these “projects”.
By now we can safely deduce that this project is very untrustworthy and even though there is no way of knowing for sure if this is a scam or not (for now), it is worth continuing to investigate to reveal the key features.
One common feature of scam websites is the overuse of generic and publicly available images and videos related to crypto, as well as generic text about the history of the crypto market and Bitcoin. What is interesting about their product is that there isn’t much information about what it entails.
Apart from this generic video from an old news show, the other thing to note is the account setup process. When you’re creating a Bitcoin Machine account (with or without an account manager), the signup form 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.
When asked if the traders will be able to access the platform only by providing an email address, the answer was that it’s not yet clear.
The Bitcoin Machine team has boldly claimed that it has created the most innovative, automated trading platform that can be used to generate a daily profit from the crypto market. The owners of Bitcoin Machine have provided some information to confirm these claims.
On the site, it has been revealed that hundreds of users have already registered and traded with the platform every day. This information was confirmed by viewing the testimonials written by active users.
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…
Similar reviews have several scam crypto bots we have been warning about:
We’ve seen some outright funny scam elements, but this one really takes the cake. User 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 don’t charge any fees and the registration process is completely free, 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 cryptocurrency 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 hidden fees (or are they 2%?).
On the other hand, they claim that trading with the Bitcoin Machine is a way to make money without huge capital and that it is “much lower than other crypto trading platforms where users are compelled to invest up to $2,000 before they can start trading”.
Once the deposit funds have been paid in, you will have full access to all the features and can then proceed to the trading process.
The other website introduces another barrier.
$25 minimum stake is not ridiculously high, but the words used are odd. The stake is something normally reserved for stocks, not the crypto market. 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 cryptocurrencies from the trading 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 as one of the crypto investors 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, and someone kicking up dust on social media to raise brand awareness.
Trustpilot Reviews
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.
Similar issues with Trustpilot reviews have other scam crypto bots we have been warning about:
Bitcoin Machine 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.
Typically for scams and previously known to us, these websites are registered via Cloudflare, a hosting service notorious for its privacy policy enabling scammers and fraudsters to hide and evade discovery.
Conclusion – Bitcoin Machine Review 2022
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.
Protect Yourself from Scams
Scams work because they appear convincing and grab you off guard when you least expect it. Scammers are becoming more sophisticated, making use of the latest tech, new products or services, and important events to construct convincing stories that will encourage you to give them your credit card or bank account information.
Here you can read more about that and take a few good tips for protecting yourself from scams.
And remember, if it seems too good to be true, it is.
FAQ on Bitcoin Machine
Bitcoin Loophole is just one in a very long line of scam operations.
No, there is no Bitcoin Machine app available. Yet, Bitcoin Machine is accessible via the web on any browser-compatible device such as mobile devices and desktop computers.
Bitcoin Machine claims that all new traders and advanced traders have free access to a demo trading account.
There are no pros to the Bitcoin Machine.
There is no doubt that it is. The evidence is overwhelming.
Making money with Bitcoin Machine is impossible. Losing money, however, is quite certain.
No, it’s a scam.
Reviews
Registered and gave my contact info, then they started urging to invest. Once I finally did, I quickly realized I was fooled and they got away with some $300 I put into it. This is no doubt just a dirty, dirty scam.
I recently tried out the Bitcoin Machine trading bot, and it’s no good at all. Despite the promises of huge profits, I ended up losing all of my investment in just a matter of days. The bot’s algorithms seemed to be completely useless and ineffective, and the customer support was unresponsive when I tried to seek help.
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