Highlights
Pros&Cons
Pros
- Easy to use
- Registration and deposits are instantaneous
Cons
- Websites provide conflicting information about the terms of use and commissions
- Customer support allegedly works 24/7, but in fact it is just fraudsters posing as a support service
- Everything is done beautifully and elegantly to make it easier to deceive users
- Reviews on Trustpilot report of fraud
Key takeways
- Several websites whose design and logo give away the copying of other fraudulent bots.
- Even with incredible trading ability, it would be almost impossible to generate as much income in a few years as Crypto Engine claims.
- The Danish Financial Supervisory Authority (FSA) has issued a warning to Crypto Engine for suspected fraud.
Overview
Table of Contents
How to Use Crypto Engine – Full Review: Is This Crypto Bot Really Worth the Hype?
It is a truth universally acknowledged that a 21st-century person is in need of financial independence. Ways to achieve it are numerous, and one of those is through crypto trading.
To aid beginners and experienced traders alike, smart people have invented crypto trading bots. Once set up, they do all the heavy lifting for you, by analyzing the trading signals and providing automated trading done on the behalf of the user. This saves a lot of time when compared to trading manually.
Even when left to their own devices, tireless trading bots can still do a good job with market analysis of the relevant market trends, trade signals, and with making the appropriate trading decisions.
Of course, trading robots still require oversight from a user who’s well acquainted with the latest trading trends, but it doesn’t need to be constant. For a more manual trading approach, users can adjust a trading bot’s behavior by setting up trading parameters that the bot will follow.
In this way, you can determine the bot’s trading strategies on the crypto markets. Of course, being an experienced trader will be useful when it’s time to set up a trading robot’s behavior.
While all of that is great, there exist devious minds that have plotted crypto trading cons. So now, it appears, there are more scamming crypto bots than legitimate ones. Not only do you need to be very careful in order to choose the best trading robot, but you also need to be sure that it is not one of the fraudulent trading robots.
This leads us to the question, is Crypto Engine legit or not? Does Crypto Engine work or is it nothing more than a filthy scam?
Unfortunately, as we will demonstrate in this review, the answer is that the Crypto Engine robot is one of the fraudulent ones, after all. Allegedly, Crypto Engine works, but it seems this is just a shameless lie. You should be aware that trading crypto and investing with this auto trader is highly risky for your crypto assets.
But, let’s start at the beginning.
Why Have One Crypto Engine Website When You Can Have Six?
Our search began with a very simple step – Google. On the first page alone, we found three Crypto Engine websites. But we continued venturing through the second and third for the sheer fun of it. And we were not disappointed.
Our search yielded a total of six different websites. There could, obviously, be more, but even six websites is a suspiciously high number of websites for one single product.
This, of course, begs the question of why a legit company would have several different websites. You’d think that one website containing all the relevant information would be enough. Having six websites only confuses the potential customers and does not instill confidence.
Especially so when there’s differing info on the websites, so the users need to compare them with one another in order to try and reach any kind of conclusion. But, ultimately, that’s impossible as the developers seem to be lying all the time.
In short, multiple websites are always a red flag, as well as evidence of a scam most likely. Such strategy is used by a number of other scam crypto bots we have been warning about:
A Design As Old As The Scam Itself
These types of scams have been around for quite some time and Crypto Engine robot is not that different. In fact, it is exactly the same as Yuan Pay, Bitcoin Prime, Immediate Edge, and News Spy, to name just a few.
Bitcoin Prime:
Immediate Edge:
Yuan Pay Group:
The News Spy:
A Very Confusing Crypto Engine Offer
Since there are many websites for the Crypto Engine platform, one cannot keep up with the differences in their offer. Even the Crypto Engine logo on the websites is confusing, as it closely resembles the logos we’ve already seen that are used by other crypto bot scamming operations.
However, we did our best to summarize the websites here and keep it less confusing.
So, according to one website, there are no fees with this auto trading platform, it’s all free. There are no registration fees, no commissions, no hidden costs, the money is yours, and yours alone. But on another website, there is a 2% commission. And on the third one, they only charge spreads. So, what’s true?
They are consistent in one aspect, and that is the initial deposit, which amounts to $250 and is necessary before you can gain access to this trading robot.
Also, the Crypto Engine customer support is there 24/7. At least, these pieces of information didn’t give us a headache, but the customer support itself would have, as it’s just scammers posing as the support crew.
There’s also a Crypto Engine demo account feature promised. In theory, a demo mode allows users to trade in simulated financial markets, so that they can practice their trading strategies and get used to the bot’s user interface and features.
This should have been one of Crypto Engine key features, as the demo account feature is extremely helpful when using high-quality trading bots. With fraudulent bots, however, a demo trading platform is not worth anything.
Another rather surprising thing is that the Live Trading option is the only auto trading feature that Crypto Engine offers. We’re used to other trading platforms presenting us with many different options for trading, that offer multiple ways to make a profit, such as CFD trading.
So, featuring only the Live Trading option for trading sessions makes us think the devs are either lazy or scammers who didn’t care about implementing any other common auto trade feature. And why would they, if all Crypto Engine features would just send your investments directly to the scammers?
A very important question is – how much can you make once you start trading with live trading sessions? Oh, well, that is another game.
Let’s just say this auto trading system offers absurd amounts for the live trading process, including maximum profits even if you don’t have any prior trading experience. Its investment advice must be solid gold if we are to believe that, coming from some futuristic artificial intelligence technology.
The truth is, even with an incredible trading ability, it would be nearly impossible to generate as much revenue in a few years as Crypto Engine claims you’ll make, let alone in a single trading session. So, as you see, it is all a scam.
Crypto Engine Misleading Ease of Use
One positive aspect of Crypto Engine is that it is rather easy to use. Crypto Engine users can register and place a deposit in no time, and the user interface is rather elegantly designed. It’s obvious the developers have wanted everyone to be able to use this trading platform with no trouble at all.
While this would, normally, be highly commendable, in this case, it makes the developers appear even slimier than before.
As it is highly likely that Crypto Engine is a scam, a logical conclusion is that the scammers want to make this trading robot accessible to users, so that they can con you more easily. You can also choose a payment method that personally suits you the best. With such accessibility, it’s a shame that Crypto Engine is not a legitimate trading solution.
As for the payout system, we didn’t check it out for obvious reasons – there are no payouts! Just like with other bots of this well-known scam network:
Crypto Engine Fake News, Reviews, and Celebrity Endorsements
There are numerous claims that celebrities, such as Bill Gates, Gordon Ramsay, and Elon Musk have supported Crypto Engine. However, they are all fake. And, interestingly enough, they are all spread by the scammers – Crypto Engine itself.
But there’s another even more cunning way they spread fake news. Let’s take a look at this example:
Yes, this quote has been attributed to Bill Gates and has spread all over the Internet. But, it only talks about Bitcoin, and in particular the technology behind it. It has nothing to do with the Crypto Engine trading software nor any kind of automatic trading.
They are effectively lying here by association. They want you to think that because Bill Gates thinks Bitcoin tech is revolutionary, it means that he also supports Crypto Engine. And there is zero evidence of that.
But they do not stop there. They have also stated that their crypto trading platform has been reviewed more than 20.000 times on Trustpilot, which is ridiculous.
And also easily verifiable.
If we add up all of the reviews for each of the websites, that becomes 38. Which is a far cry from 20.000 reviews.
Similar Trustpilot reviews have several scam crypto bots we have written about:
No Registered Company on That Address
Speaking about Trustpilot, we found their addresses (yes, plural) on the dedicated review pages. There were two, so we decided to check them out.
Also, let’s clarify that a legit company would have their physical address listed somewhere on the website, in the About-us section or the footer. Of course, as we expected, Crypto Engine does not.
We checked in the UK’s government database if any of these addresses were registered to the company. And, as usual, there isn’t one.We checked in the UK’s government database if any of these addresses were registered to the company. And, as usual, there isn’t one. Providing unregistered addresses is no doubt very suspicious and tells us plenty about the shady nature of Crypto Engine developers.
Not One, But Two Crypto Engine Mobile Apps
Not only do they have six websites, they also have not one Crypto Engine app, but two such mobile apps. We checked these in Google Play Store to see what we can learn.
While examining the apps, we were very surprised by the fact that they didn’t have any reviews. Not only that, but they also have such a small number of downloads, seeing that they claim their growing community already has more than 150.000 users.
So, if we do some math here, it appears that only 3,33% of their users downloaded the app. That seems highly unlikely to be legit, given the number of people who spend most of their time on mobile phones.
This lie is similar to the Crypto Engine developers’ claim that their trading robot has 20.000 reviews on Trustpilot, which is indicative of the type of method they’re using to deceive the users. Is Crypto Engine safe? No way.
Trustpilot Has Issued Warning Against Crypto Engine because of Fake Reviews
As it is proven that the developers have been leaving fake comments, why trust them about anything else? These fraudulent practices should be reason enough not to invest with this crypto bot.
There are still some fake positive reviews, and we will take a look at them. The fake comments are typically left by people who previously never posted on Trustpilot.
Furthermore, the only place where these celebs are mentioned is on Crypto Engine’s websites and on the fake blogs reviewing it. The reviews are obviously fake, as they are completely unnuanced.
According to the exaggerated fake reviews, everything is great about Crypto Engine. It does not have one single fault, no matter how tiny. The praise the reviews are singing is also rather general, with little or, in some cases, no mention of any concrete reasons why Crypto Engine is so amazing.
On the other hand, the real people posting negative stuff about the company typically have multiple reviews on Trustpilot. What’s more, they describe the same pattern of behavior of the scammers: once they get your info, the incessant calls never stop.
They want you to place the initial $250 deposit, claiming that the trading robot will be using it for investing on your behalf. But, the real reason why they want you to place a deposit as soon as possible, is so that they can take your initial investment for themselves and disappear.
A Strange Case in Palau
Whilst looking at the reviews on Trustpilot, we found a website registered in the Republic of Palau (the domain ending in .pw).
It describes the same pattern – they call and pester people for money. The only curiosity here is, if we were to believe this commenter, that they have played a commercial on national TV.
Since this comment was posted on Jul 8, 2020, we checked to see what regulations there were at the time on cryptocurrency trading in Palau. And it appears to have been highly unregulated, but progress has been made in the past year or so.
Looking at their operation as a whole, it seems that they are targeting countries with lesser regulatory constraints. You should be mindful of whether there are policies in place for financial fraud in your country or region.
Generally speaking, cryptocurrency is becoming increasingly regulated by governmental institutions and laws. And that’s a good thing when it comes to preventing this type of trading system fraud.
In countries with little or no crypto regulation, it’s easier for scammers to get away with it. If you’re living in such a country, know that you should be extra careful in order to avoid being conned out of your money due to an encounter with a fraudulent automated trading system.
Danish FSA Has Issued a Warning Against Crypto Engine
The Danish Financial Supervisory Authority (FSA) has issued a warning against Crypto Engine for suspected fraudulent activity.
This is a clear sign that there is something off with this crypto trading bot and you shouldn’t invest with the platform. While the Danish FSA could be wrong, that’s highly unlikely considering all the other red flags we’ve mentioned so far. Is Crypto Engine scam or legit? Scam, obviously.
Our Verdict: Crypto Engine Is a Scam Through and Through!
As we have extensively demonstrated in this Crypto Engine review, this platform is a scam 100%. There are so many red flags that become evident after some digging. These things may not be proof on their own, but when combined, they make it rather obvious that we’re dealing with scammers.
Multiple websites, identical to similar scams, fake reviews, and articles, as well as fake addresses and even suspected fraud warnings are a clear sign to stay as far away from this platform as possible.
If you wish to secure a financially-independent future, we recommend investigating the crypto market. And in case you wish to use a cryptocurrency trading platform, you should look into legitimate bots, such as Trality, Cryptohopper, Coinrule, Bitsgap, etc. Unlike when using Crypto Engine, it is actually possible to pull off profitable trades when using those trading platforms.
For our final Crypto Engine summary, we’ll emphasize the fact that there’s no reason to waste your time, money, and nerves with immoral attempts to deceive users. And that’s precisely what the Crypto Engine is.
FAQs on Crypto Engine
Yes, Crypto Engine is a scam. It is designed to make you think it is a cryptocurrency trading bot to get your personal information after you create a Crypto Engine account. Then, they want to get your money, too. Don’t give the scammers your information, or they will begin to incessantly bore you with endless phone calls.
No, trading with Crypto Engine is extremely dangerous, as any Crypto Engine customer will realize. The scammers will acquire your personal data in order to pester you with phone calls and investment requests.
No, you shouldn’t invest with this trading robot. As this is a fraudulent website that looks like a crypto bot, you will only lose money and time when you attempt to begin trading. The trading journey with Crypto Engine will certainly be an unpleasant one. Even if you wanted to invest with Crypto Engine, you won’t be able to, as it’s not really possible to invest with fraudulent websites masquerading as trading bots. Instead, all of your investments will go straight into the scammers’ pockets.
Crypto Engine is not a legit crypto bot. It is a scam designed to look like one of the legitimate automated trading services on the cryptocurrency market, but it only preys on innocent people and novices to take away their money. Steer clear of it and choose one of the reliable automated trading platforms instead.
Reviews
First of all, the customer service was unresponsive and unhelpful, and I was left with unanswered questions about my account. Even worse, on top of that, the trading platform was glitchy and slow, making it impossible to make trades. No profits to be had here, just frustration.
Don’t trust Crypto Engine! It’s a scam that will steal your money and leave you $250-lighter. They’ll use all sorts of tactics to convince you to invest, but it’s all manipulation to get your money. Couldn’t withdraw the $250 after I realized what was going on.
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