Home » Guest post » Do not fall for Crypto Bots Scams

Do not fall for Crypto Bots Scams

It’s an part of the cryptocurrency industry that’s plagued with a very numerous scams. Each day, a fraudulent trading bot is launched that aims to take your funds. There are a lot of dangers on the market, and it’s important to remain vigilant – related site?

So, with that in mind we’ve prepared a selection of three examples of crypto trading bot scams that you should avoid. It’s not possible to publish a large index to encompass all such scams. We selected three robots that have all displayed red flags. Before you start trading it is important to ensure you’re familiar with these red flags.

Crypto Trading Robots 101

In short, crypto trading bots are able to automatically buy and sell crypto on your behalf. The trading strategies of the bots are set by the user in order to trade cryptocurrency in accordance with their own preferences.

We must warn us to warn. The trading robots are accused of fraud in some instances, despite the fact that they’re genuine.

This is because traders who aren’t experienced fall into the trap of believing that a bot can do everything for them, while they’re relaxing and enjoying an ongoing passive income. It’s not possible because otherwise, everyone would be rich and sipping Pina Coladas in Bora Bora. It’s true that the bot will assist you, but only after that you’ve given it the correct details that are in sync with the strategy of trading you’ve developed.

Knowing the indicators of fake bots will surely be useful. Every bot has been identified by us as fraudulent due to their alarming traits. Once you’ve read the report, be equipped with the know-how necessary to spot the telltale indicators of a fraudulent trading bot by yourself.

We suggest that you continue to educate yourself through reliable sites, like TradeCrypto because there’s no way to be sure. There is a wealth of information on scam bots from here in much detail, with numerous bots. You can prepare yourself by being aware of red flags and the common scammers.

Three Crypto Bot Scams to Stay Away From

The time has come to have the main course. In each case of scam digital bots we’ve made an inventory of warning signs that show the bots are fraudulent. The indicators alone don’t constitute conclusive proof but when you combine them all the evidence is crystal easy to recognize.

Crypto Bank

The first step in identifying the fraud is the bot’s website, which contains all the typical methods. In this instance, the perpetrators of fraud have published various logos of numerous security organizations that are supposed to be responsible for Crypto Bank users’ protection. They aren’t involved in crypto-security.

The disclaimer states that, in the event that you agree to the terms and conditions of Crypto Bank, you can contact them any time. (They mostly use WhatsApp).

That brings us to the third alarming sign with a puzzlingly huge minimum deposit required of $250. The most required investment in genuine trading bots can be as low as 10 dollars. If you open an account, the scammers will reach you via WhatsApp in order to “encourage users to open an account”. What they really want is for the deposit to be made so that they can take off with $250. Don’t do it.

And lastly, but definitely not the least, the logo for Crypto Bank itself is identical to the logo of Bitcoin Bank. It is known that Bitcoin Bank is another trading robot scam. The scammers make use of the same template and name to create another website. Then they continue their scam until they are caught.

Ethereum Code

Like many other instances with fraudulent trading bots, Ethereum Code actually owns several similar websites. It seems suspicious. Why do they have to create multiple sites for the same purpose? Answer: It enables the scammers to continue operating even when their site is taken down. Cunning.

According to some reports, there is a claim that UK Trading Association has given the Ethereum Code a prestigious award for being the top product in the trading software category. In further study It is evident that this is not the case. Incredibly, the vast majority of scams for automated trading are said to originate in the UK. It’s difficult to discern if this is true, however it’s probably not.

The only way to get in touch with to the Ethereum Code team is by leaving a comment on the website. There is no email physical address, email, or even a phone number. The evidence suggests it’s because Ethereum Code doesn’t want its founders to be in the same place as their creators. Why? Why?

3) Bitcoin Formula

According to the claims, this bot has the accuracy that is 98%. Yeah, right. If you see promises of this kind of astronomically accurate rate, you should know it’s scammers trying to con you.

A good trading system is one that has a variety of features, offering many choices for investors in crypto. Management of your portfolio, futures, as well as margin trading are among the many among the capabilities. However, the scammers behind fake bots, like Bitcoin Formula, often claim their product only features the live demo and trading options. It is likely the fact that they’re impatient to make fake images which are similar to features of other brands.

Leave a comment

Your email address will not be published. Required fields are marked *