Highlights
Pros&Cons
Pros
- No commissions
- Free of charge
Cons
- $250 initial deposit
- Lacks features
- You will lose absolutely everything you invest
Key takeways
- Asks users to leave a deposit of $250 before the bot can make transactions.
- By registering, you agree to the sale or transfer of your data to third parties.
- This is not automated trading software, there are no profitable trades here, it's just a scam.
Overview
Table of Contents
How to use Crypto Bank – full review
Crypto Bank is quite a catchy name. No wonder there are many projects on the internet that opted for this name. However, we find that Crypto Bank is on a well-known fake review site. InexUniverse has already in the past supported fraudulent trading bots and platforms that offer crypto trading on the crypto market, but in fact, this was just a scam to deprive users of their $250 deposit. According to our research, there’s no actual cryptocurrency trading to be made with these bots.
Scammers make a lot of mistakes. Little mistakes and discrepancies can make you accumulate red flags. Each by itself, under close scrutiny, those mistakes aren’t proof. However, when they repeat in significant places, they do create a string of red flags to make you want to avoid their fake platform or trading bot. It becomes clear that it’s one of the fake crypto trading bots that only claim they can automate trading.
Therefore, it’s fair to say that Crypto Bank is certainly a fraudulent trading platform. The scammers claim that the bot provides reliable trading strategies and analysis of market signals and data for crypto traders, such as crypto’s trading volume, but that’s a lie. In fact, its crypto trading strategy is entirely non-existent. The trading bot exploits exactly the same fake strategy as applied by a number of other scam crypto bots we have been warning about:
The first mistake that the scammers made is evident in this image:
As you can see, the title reads ‘Crypto Bank Review’, but the logo is that of BitcoinBank. Bitcoin Bank is a well-known scam in the trading community, a platform that looks like many cryptocurrency trading bots. But, its only aim is to collect $250 from naive users who don’t have enough experience with the world of crypto and using legitimate trading bots. Therefore, claims that this is a free crypto trading bot, with no trading fees charged, are entirely irrelevant. It might be completely free to use it, but you’ll actually only end up losing the deposit.
Let’s proceed. Following the link shows another surprise and yet another mistake:
As you can see, the website address for this trading platform is anchored to apexoffer.net, which is known to host different fraudulent platforms. Another telltale sign-again, not proof per se, but a definite red flag – is the FOMO red bar, fake success stories in the form of random names and sums supposedly won by a user. This certainly smells fishy.
Moreover, notice the strip of logos which don’t actually relate to crypto trading or trading bots. It’s there to connect the content of the website to a sense of security, as it features different companies dedicated to safety, albeit none of them have anything to do with bitcoin. This is another proof of the importance of careful research in the world of crypto, as looking into things uncovers the truth behind the scammers’ attempts to deceive us.
Also notice the asking and bidding prices, which don’t correspond to prices of any known cryptocurrency. They wanted to trick us to begin trading, but the developers of this bot didn’t put enough effort into it, as their deceit is easy to see through.
As I’ve said, these are not definitive proof of fraud, but red flags, as this platform is clearly designed to lure naive customers to leave their phone numbers to scammers. Experienced traders are less likely to fall for the scammers’ bait, but they can make mistakes too if they’re not being careful. However, this many red flags already indicate that dealing with Crypto Bank won’t do you any good.
Actually, Crypto Bank is one of a well-known scam network:
Crypto Bank Key Features
This so-called crypto trading robot is suspiciously lacking in features that many trading bots come with. For instance, there’s no margin trading. It only offers options for a live trading session and a demo account. In addition, where are paper trading, portfolio management, futures trading, arbitrage trading, etc.? These trading tools are all important features that many crypto trading bots have gotten us used to.
This is a clear sign that something’s not right with this cryptocurrency trading platform. Even if Crypto Bank was legit, it would still come with only a couple of features, which is far too few options for trading crypto.
Trust the Trustpilot
If we check Trustpilot, we can see that Bitcoin Bank was running its scheme for a while. It seems that this is a truly bad fake automated web platform scam. Let’s analyze the Trustpilot report. At first glance, nothing is wrong:
Out of fifteen reviews, only six are negative. Not your typical Trustpilot page, but the numbers are quite similar to what we’ve seen with other fraudulent websites. After all, it wouldn’t be convincing if all the reviews were positive, unless it was one of the very best crypto trading bots out there. Nine out of fifteen seems like a trustworthy number that the scammers are hoping will fool the users into thinking this is one of the best trading bots.
Let’s continue. All 3 out of 6 reviews were made by the same guy. OK, strange.
A burned customer, it seems. Maybe, but it’s still suspicious that the same person left three reviews. What could have the developers done to make him this mad? But let’s focus on the positive reviews.
Jurgen Jung is not a common German name. It’s almost as if someone wanted to come up with a German-sounding name, but didn’t put in enough effort to choose a good one. Jurgen Jungs we’ve managed to google aren’t really matching the image there.
However, the search of alleged Jurgen Jung’s image yielded an interesting result.
The image used is not Jurgen Jung but one Michael Clarke. So, it’s a fake trading bot review. The exact words of his review were used in previous issues of this particular fraud. The scammers didn’t even bother with changing the wording. We can’t even be sure that there is a person named Michael Clarke who uses trading bots; most likely, this person is entirely fabricated.
Notice the same title, but a vastly different number of reviews. Another in the long line of telltale signs.
Similar Trustpilot reviews have several scam crypto bots we have written about:
The app that isn’t there
Following the link at TrustPilot, we come across Bitcoin-Bank.biz. And there’s quite a lot to see on there.
This website displays all the typical red flags of a cryptocurrency trading bot scam. This is a textbook example of a fraudulent website if we’ve ever seen one. It promises automated trading that will earn you a fortune while you’re relaxing and enjoying yourself. It speaks in techno buzz, but what it actually says is mostly nonsense. The website asks for an initial minimum deposit of $250, mixes facts and fiction, and promises profits without providing adequate info about the platform itself.
Interesting is the name-dropping technique, frequently used by fraudulent websites. As you can see they drop names of celebrities known to be connected with bitcoin or crypto investing.
If you read the actual text, they don’t lie. It clearly states that the Bitcoin Bank is not associated with these names. It’s a trick to make the customer connect familiar celebrities with the product. But with a bit of research, they can’t fool a careful user. As you begin to see through their tactics, it becomes clear that the best course of action is to stay away from this “product”.
The platform suggests that there is a trading platform app you can download. But you can’t expect any genuine claims made by these developers.
I know, at first, you will think, okay there is the download button, nothing wrong, right? If there’s an app, there has to be a download option as well. Well, sadly there is no button. There is just a .jpg image.
Clicking anywhere on this page will yield this notification.
How do these scams operate?
There are several known practices for these fraudulent websites, that the scammers behind fake bots such as the Anon System and Bitcoin Investor are frequently relying on. These are tried-and-tested methods of conning unsuspecting crypto investors and new users, who are looking to start trading for a lucrative passive profit.
It seems that Crypto Bank is a professionally set up operation. Unfortunately, these are not professional trading bot developers, but professional scammers. These are some of the methods they use:
• They change names and logos to avoid targeting by market regulators, legit review sites, and agencies (like Trustpilot). So, if a trading bot has multiple names and logos over a period of time, that’s a red flag for sure.
• They ask for users to leave a $250 deposit before the bot can execute trades. Legitimate trading platforms and trading bots do have minimum investments, but these measure in low figures, typically $10. The need to deposit funds in such a high amount clearly signals that something’s not right.
• They ask phone number as part of the registration. Legit crypto services have several layers of
Identification. The typical platform will ask for an email, then proceed with different Know Your Customer verification protocols (scan of ID or other national ID documents). These fraudulent websites usually claim speedy registration with just phone and email, hoping that they’ll attract users who are looking to finish the job with a minimal investment of time.
• They all have disclaimers that make the customer agree with the breach of their privacy. Namely, they make it legitimate for the agents or ‘brokers’ of the fraudulent sites to call the customer (typically they will contact the gullible via WhatsApp). Therefore, users will do well to read the disclaimers carefully.
• Brokers aggressively pursue customers to deposit the first $250 and then it becomes impossible to get your money back. There are no profits, let alone a significant profit that is promised. Another reason to change names and website addresses. Once the number of angry customers mounts up, scammers simply move to greener pastures, abandoning their project.
Both new investors and advanced traders can be caught in the scammers’ trap if they’re not careful. Don’t trust their promises of sound automated trading strategies on all the major cryptocurrency exchanges, with no trading skills required. This isn’t automated trading software, there are no profitable trades, it’s just a scam.
Final verdict
Crypto Bank auto trading robot is a known scam! Do not fall for it. With this many red flags, everyone should steer clear of this immoral fraudulent bot.
FAQ on Crypto Bank
It’s a fake website. They promise a useful trading tool for investing in crypto markets, but that’s a lie. All they want is your data so that agents can call you and ask for a deposit of $250, while promising a great return on investment. The fact is, there is no crypto bot trading, no market trends or technical analysis, no money to be made, just brokers fishing for deposits. And this will be true for all new users of this trading bot, regardless of what Crypto Bank claims.
Yes. It is part of fraudulent websites, a total scam, just like many other fake automated trading bots. The con artists behind the scam claim it’s the best crypto trading bot on the market that’s supposed to be expertly analyzing crypto signals, but, of course, this is just a dirty scheme. Steer clear of this “trading software”.
Judging by reviews, you can’t profit from the Crypto Bank trading bot. People have tried to make a profit, but that was a waste of their time, money, and nerves. You can only lose a $250 deposit with fraudulent crypto bots such as this one.
No. This is certainly a scam. There are legit warnings in the disclaimer, however. By registering, you agree to have your data sold or transferred to third parties. You agree to be contacted by agents (to bug you for a deposit). The scammers have thought of truly slimy ways to get away with taking someone’s money, but don’t fall for it.
Reviews
the trades Crypto Bank makes are completely nonsensical, always seem to result in losses… and you can’t withdraw funds. i highly recommend avoiding BitQT if you want to keep your money safe.
I can’t believe I fell for the Corona Bank fraud. I was promised easy money and thought it was too good to be true, but I went ahead and deposited money into my account anyway. Sure enough, the software was a complete fraud and made terrible trades that lost me a lot of money.
Tested it for a bit, enough to see a suspicious lack of features and reliability in crypto trading. Might do better with additional tweaking, but why waste time
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