Bitcoin Generator: Scam or Legit Trading robot? Author: joe maurice Last Updated: 18 June 2020 Bitcoin Generator is the newest scam claiming to be a bitcoin trading bot with high profitability. This scam promises a daily return of $5000 from a trading capital as little as $250. We have carried out a rigorous investigation and found Bitcoin Generator to be a scam. A live test informs InsideBitcoins reviews and also on an analysis of feedback from people who have tried the robot. This review confirms that Bitcoin Generator is a terrible scam that targets inexperienced crypto traders. Furthermore, they use deceptive marketing techniques to bait new signups. In this review, we will analyze all the red flags that show that Bitcoin Generator is a scam. We will also provide tips to help you identify scammers and also recommend legit robots that you should try. Keep reading or go straight to a legit robot by clicking the link in the table below. Robot Rating Properties Trade 1 Free to use 82% claimed win-rate $250 Min Deposit Accepts Debit and Credit Card Trade Now All trading carries risk On this Page: Is Bitcoin Generator a Scam? Yes! InsideBitcoins gives Bitcoin Generator a legitimacy score of 2% – Most of the information on their website is false Bitcoin Generator partners with scam brokers – Our investigation shows that all their partner brokers lack proper regulation Our investigation finds a lot of complaints about this platform – The majority of reviewers report losing money through this robot We find this platform to have an accuracy level of zero percent – You will lose money if you deposit it with Bitcoin Generator Bitcoin Generator is one of the shameless scams masquerading as a legit crypto robot. InsideBitcoins investigation shows that this platform is an affiliate of offshore fraud brokers. In other words, it is used by scam brokers to get new signups. When you register with Bitcoin Generator, your data goes to the underlying scam broker. The deposit methods provided by this platform are for these scam brokers. This means that any deposit you make through the platform goes straight to the scam broker. The broker, in return, gives a share of your deposit to the scammers behind the platform. InsideBitcoins reveals that the scammers receive 60% of the deposit. Further investigation shows that Bitcoin Generator depends on unscrupulous affiliates for referrals. These we can confirm that these affiliates earn $50 per referral. Moreover, Bitcoin Generator trading platforms are fake and do not connect to any real broker. Consequently, they trick you into believing that you are participating in live trading through their scam brokers. This is typical of most scam trading robots. We recommend that you read our review of the top Bitcoin Robot for a list of tested and proven robots for 2019. What is Bitcoin Generator? Bitcoin Generator is a scam platform that tricks unsuspecting traders into depositing money with sham offshore brokers. The platform alleges to be a fully automatic robot that applies complex computer algorithms to identify and execute trading signals. However, InsideBitcoins investigation reveals that it does not have such technologies. Like other scam platforms, Bitcoin Generator provides a fake web-trader that reports predetermined losses. Generally, trading robots rely on sophisticated algorithms to scan the markets for trading insights and execute trades. There are those that depend on big data and those that copy the trades of professional traders. Some of the best trading robots that rely on big data apply advanced technologies in Artificial Intelligence and Machine Learning. Read our Cryptosoft Review for a legit robot that applies these technologies. Why is Bitcoin Generator a scam? Bitcoin Generator has all the telltale signs of a scam robot. InsideBitcoins can confirm that at least 90% of the information on their website is false. Firstly, the testimonials on the website are not genuine. A Google reverse image search shows that the images used for the profiles are stolen from different sites across the web. This is typical of most scam trading robots. Secondly, they are hesitant to disclose about their partner brokers until the trader makes a deposit. This is because the majority of these brokers are sham. Our investigation shows that most are not registered under any regulatory jurisdiction. Furthermore, they do not disclose any traceable information, such as physical location and business registration. We are 100 percent sure that these brokers are part of the scam and share a portion of your deposit with the scammers behind Bitcoin Generator. Scam robots usually rely on scam brokers to receive deposits and facilitate transactions. Never register with a robot without conducting a background investigation to determine the legitimacy of their brokers. InsideBitcoins investigation also includes a review of robot brokers. Read our review of Ashford Investments to learn more about legit robot brokers. Other reasons not to sign up with Bitcoin Generator As mentioned earlier, Bitcoin Generator has all the red flags of a scam robot. The scammers behind this platform not only steal deposits but also sell users data to other scammers. Moreover, their website and trading platform are unsecured meaning that hackers can snoop in and steal data. InsideBitcoins takes into account factors such as encryption, password policy, and data sharing and protection policy when determining the legitimacy of a robot. Legit trading robots must have well-defined data protection policies. Scam robots are known to pay little attention to users’ safety and might even be in the business of selling personal data in the black market. It is not uncommon to hear stories of a data breach as a result of malware-infected scam robot trading platform. We have carried out a rigorous security test on Bitcoin Generator, and we believe that it is unsafe. Suspicious signup process While Bitcoin Generator requires basic personal information during the initial registration, you may be asked to provide more details later. Our review shows that this platform collects more personal data than necessary. Even worse, they appear to be selling this data in the black market. InsideBitcoins found a lot of complaints about people who open an account with this robot receiving a lot of spam calls and emails from scam brokers. There is a high likelihood that this platform also sells users’ data to hackers. Legit robots do not collect unnecessary users’ data and do not share any data without users’ consent. Additionally, they have measures in place to safeguard this data. For instance, their websites and trading platforms must have encryption to ensure that hackers can not copy any data that passes through them. Bitcoin Generator website and the trading platform does not have any encryption and keeps shifting from one domain to another. Perhaps this is in a bid to avoid being punished by search engines for the many complaints about them. Unsafe deposit Bitcoin Generator requires users to make a minimum deposit of $250 to access their trading platform. They accept multiple deposit methods to include Bitcoin, Visa, MasterCard, Maestro, WireTransfer, Bitcoin, Neteller, Skrill, and others. InsideBitcoins investigation reveals that this platform is a scam and therefore, traders who deposit with them end up losing money. Furthermore, their platforms are unsafe and are, therefore, likely to expose your billing information to cybercriminals. We recommend that you stay away from this platform and instead try a tested and proven robot. Read our Bitcoin Trader review for a legit trading robot with an average daily profitability of above $1k. Fake live trading platform As mentioned earlier, Bitcoin Generator is a spam robot, and their trading platform is fake. This means that there is no live trading that takes place with this platform. When a trader makes a deposit, the scammers behind the platform shares it with their partner scam brokers. They lie to traders by redirecting them to a fake platform which reports predetermined losses until the account depletes. The goal is to convince them that their money was lost during live trading. Bitcoin Generator: Key Features Zero Payouts Zero profits Bitcoin Generator is a scam platform, and you will not make a dime through it. We can confirm that you will make consistent losses from the beginning to the end if you deposit with this robot. Try Bitcoin Trader if you are looking for a legit robot with high profitability. No Withdrawals No withdrawals Bitcoin Generator is a scam platform and therefore does not allow its victims to withdraw their trading capital. This is because the only way they make money is by stealing deposits. Any attempt to withdraw your capital is likely to get you blocked from the platform. Fake web-trader Fake web-trader InsideBitcoins investigation reveals that the Bitcoin Generator web-trader is fake. There is no real trading that takes place with this platform, and the results you get through it are predetermined. Scam robots are known to use this trick to get their victims to believe that their money was lost during real trading. Unsafe platforms Unsafe platforms The Bitcoin Generator website and trading platform are not safe. As mentioned earlier, they lack encryption, which makes it easy for hackers to steal data. We have also determined that Bitcoin Generator shares user data with third parties, mostly scam offshore brokers. This is typical of most scam robots. Fake brokers Fake brokers The brokers listed as Bitcoin Generator partners are all fake. This means that they have no regulation and do not engage in any real-time trading. Without supervision, there is no way to trace them in the event of a deposit dispute. InsideBitcoins recommends that you stay away from this platform. Read our guide to identifying the best Bitcoin robot and robot brokers for legit robots. How to identify a legit trading robot Legit robots tend to have the same characteristics and are easy to locate for the trained eye. The following are the factors we take into account when determining the legitimacy of a trading robot. Transparency – Scam robots will never truthfully disclose crucial information such as their legal registration and founder’s identity. Most lie about these details and are likely to provide fake testimonials. Our investigation involves conducting a reverse image search on the founder’s profile photo and photos used for the testimonials profiles. Scammers are known to use images from stock sites or hire actors on Fiverr for video testimonials. Reputation – We conduct an in-depth analysis of users’ feedback on individual consumer review sites. Scam robots are likely to have a generally negative reputation. Beware of any platform with many negative reviews or those with a few perfect reviews. Withdrawals – A trading robot that does not allow you to withdraw your trading capital is likely to be a scam. Our investigations include a live test where we request for capital withdrawal after a few hours of trading. Most scam robots make consistent losses and will not allow you to withdraw your capital. Customer service – A legit robot must provide multiple communication channels and must respond to inquiries as soon as possible. Scam robots usually provide email as the only mode of communication and do not respond to inquiries unless they relate to how to make a deposit. Is Bitcoin Generator legit? The Verdict! Bitcoin Generator is a scam platform whose sole objective is to bait unsuspecting traders into signing up with scam brokers. Once you deposit with this platform, there is no way to recover your money. The scammers behind the platform share it with their partner sham brokers and affiliates. Meanwhile, they redirect you to a fake web-trader that reports predetermined losses. If you are looking for a legit crypto robot with high profitability, we suggest that you try Bitcoin Trader. We have tested this trading bot and can confirm that it is highly legit. Moreover, we can confirm that it is possible to make an average daily profit of $1k using this robot. Bitcoin Trader requires a minimum deposit of $250 to start trading. The app is free to use, but there is a likelihood that they will introduce a license fee in the future. This means that this is the best time to use this robot. Remember that all investment opportunities carry a certain risk. This especially applies to cryptocurrencies, which are still relatively young in the financial markets. FAQ Is Bitcoin Generator legit? No! InsideBitcoins investigation reveals that this robot web-trader and brokers are fake. You will lose money if you deposit with this platform. How much should I deposit with Bitcoin Generator? Do not deposit any money with this platform or else you will lose it. We suggest that you try Bitcoin Trader for a legit robot. How much can I make with Bitcoin Generator? You stand no chance of making a single cent with Bitcoin Generator. This is because it is a scam platform aimed at stealing your deposit. Can I withdraw my money from Bitcoin Generator? No! Bitcoin Generator does not allow withdrawals. This means that there is no way to salvage your money.