Bitcoin Malay System is one of a wave of Bitcoin trading robot scams which are blowing up the internet right now. A number of these auto-trade scams are aimed at specific countries or regions (like Malaysia in this case). Scams like this one claim to be based on a powerful algorithm that can make successful Bitcoin trades far better than human beings. All users have to do, it claims, is contribute money, which will be used to make even more winning investments, with the profits shared with Bitcoin Malay System users.
In reality, Bitcoin Malay System is a front for binary options brokers. It’s possible to make money with binary options trading, but it’s basically the casino of the investment world. This trading robot will automate trades on these platforms, but its win rate will be far less than what’s advertised, and no user is going to get rich using Bitcoin Malay System.
It’s a shame that phony trading robot scams are so prominent, because there are other Bitcoin Trading Robots which are excellent (for example: Bitcoin Code – Scam or Legit?, and Bitcoin Loophole Review). Read on to learn the basics of this obvious Bitcoin trading scam, so that you won’t lose your money this way.
- 1 Is Bitcoin Malay System a Scam? YES!
- 2 What is Bitcoin Malay System, and is it a Scam?
- 3 Who Founded Bitcoin Malay System?
- 4 Why Bitcoin Malay System is a Scam
- 5 Have People Made Money With Bitcoin Malay System?
- 6 Recommended Robots
- 7 Bitcoin Malay System Review: the Verdict!
- 8 FAQ
- 9 Does Bitcoin Malay System Actually Sell Bitcoin?
- 10 Are These Scams Based in the US?
- 11 Why Are Celebrities Sometimes Rumored to Support These Scams?
- 12 Is Bitcoin BTC Itself a Scam?
- 13 Do You Know of Any Real Bitcoin Trading Robots?
- 14 How Can I Trade Risk-Free With a Bitcoin Robot?
Is Bitcoin Malay System a Scam? YES!
What is Bitcoin Malay System, and is it a Scam?
Bitcoin Malay System is a really lousy internet investment platform that’s pretending to be a get-rich-quick technological miracle. It totally fails to deliver on that promise. The system promises that users can make thousands of dollars per day, giving them the keys to a brand new life of luxury, travel, and early retirement. Who wouldn’t want that? Unfortunately, people who use the program are probably just going to lose the little money they had to begin with, making only Bitcoin Malay System’s anonymous creators rich.
Bitcoin Malay System uses a bunch of technology mumbo jumbo to make itself seem legit. It claims to have an autonomous algorithm that can make winning investments almost 100% of the time. The algorithm, they say, is much faster than a human, and can learn and read more effectively than any human trader. While this might sound plausible to some people, this begs the question, “Why doesn’t everybody just invest this way?” Of course, people don’t invest this way because the algorithm doesn’t exist, or doesn’t work – likely both.
What happens when you create a Bitcoin Malay System account is that you are really connected to one of several binary options brokers. Binary options trading is gambling. You won’t get any real Bitcoin. When you use the Auto-Trade function, your money will just be thrown randomly at various bets that are made regarding the price of Bitcoin. Most of these will probably lose, and your money will go to the people who own the binary options broker platforms. Just like with a real casino, the odds are rigged in favor of the house, so the house always wins in the end.
There are dozens of sites like this. All of them are meant to fool unwise and inexperienced investors into believing that a once-in-a-lifetime opportunity is at their fingertips, if they’ll just toss in a few hundred dollars. The fine print holds the details, but these sites hope that users won’t read that. They’re transparent scams, and it’s a shame they’re trying to take advantage of the impressionable. But that’s why we’re here, to bring these sketchy frauds into the light.
Who Founded Bitcoin Malay System?
One common tactic of these schemes is to claim that they were founded by some kind of benevolent genius who created the perfect trading robot, and who now wants to share this golden goose with the masses. Here’s an example of this from another site, Crypto VIP Club, which functions the same way. Notice how “Andrew King” is really just a made up name and a stock photo.
This scam tactic is getting a little overplayed. People who were once fooled by it are starting to recognize it. That’s why Bitcoin Malay System doesn’t use this ploy. This platform doesn’t advertise who created it. Even if they did, it would surely be a lie.
Nobody knows who really runs Bitcoin trading robot scam sites like this one. Even though we’re not sure where they come from, we can recognize their signature in just a few seconds. Once you start looking for scams like this, you realize they’re everywhere. These robot scams might not ensnare many people, but it’s obviously more than enough to keep them up and running. Tell your friends, because friends don’t let friends fall for Bitcoin scams.
Why Bitcoin Malay System is a Scam
So we obviously believe that Bitcoin Malay System is a scam, but let’s take some time to look at concrete proof that this is the case. Perhaps no single one of these evidence points will disprove Bitcoin Malay System entirely, but taken together, this evidence is pretty much irrefutable.
Fake User Testimonials
First of all, Bitcoin Malay System uses faked testimonials from phony users. This is another common trait of all scam trading bots. Images from stock photo sites are acquired, names are made up on the spot, and fake feedback is created. Do we really believe that this lady’s name is “Juwita binti Mat”, or that the dude on the left has “Putri” for a surname? I think not.
But let’s look even deeper, beneath the improbable face-name correlation we’re asked to accept. What happens when we search for these images online? As you can see below, we’re greeted with stock photo models from Russia. Does this mean that Bitcoin Malay System is a Russian scam? Inconclusive. But it definitely means this is not a site you should trust.
It’s important to note that positive testimonials about Bitcoin Malay System pretty much only exist on their own website. If you go on Reddit or to any other place where real people can discuss investment platforms like this, you’l see that everyone else pretty much hates this scam and all of the scams just like it.
Media Endorsements That Don’t Really Exist
Now, this is one common Bitcoin scam tactic that Bitcoin Malay System does not employ. Usually a site like this will claim that it has been featured on numerous famous media channels, like CNN or the New York Times. Of course, these connections are never authentic. Bitcoin Malay System makes no such claim, probably because Western media outlets like CNN aren’t as popular in Malaysia. The people who made the site can’t even be bothered to figure out which media outlets would be most relevant to a Malaysian person. This is a slipshod scam if we’ve ever seen one, but we suppose people still fall for it.
While none of these apply to Bitcoin Malay System exactly, similar sites are often tied to celebrities like Elon Musk (Even though he definitely does not care about this two-bit fintech scam). You can pretty much guarantee that any celebrity endorsement tied to this site or any similar one is not real. They’re meant to fool people who don’t know how to read past headlines.
Reused Images From Other Scam Platforms
Want to know just how lazy these scammers are? So many elements from Bitcoin Malay System are copied directly from other, similar scams. Take the punchable face above, for example. You can see on the right, he appears in BMS video claiming to have made more than $3,000. But what’s that to the left? That’s the same guy advertising the Bitcoin Aussie System, another Bitcoin scam we’ve covered elsewhere.
This guy is an actor. He probably works on a website like Fiverr where he’ll say anything you want into his video camera for a few dollars. There’s no chance that this guy uses all of these platforms (we’ve found him on other scam sites as well) and has similar success on each. Nope, he’s a (low) paid actor shilling for whoever meets his payment requirements.
What’s this below? Another example. As you can see, Bitcoin Malay System can’t even keep its own name straight. We took this screenshot directly from the BMS website, and you can see they are calling themselves “Bitcoin South African System” instead. This is a mistake they made when they were copying this image from another scam site. Clearly, standards are not high at this sketchy business. All the more reason not to give them your money.
Have People Made Money With Bitcoin Malay System?
It’s not impossible to make money with binary options trading, but why not use a broker who’s not lying to you? What’s basically going to happen with this system is this:
- You make an initial deposit.
- You turn on the Auto-Trade function.
- The system throws your money at various binary options contracts, all of which you have less than 50% chance of winning.
- You lose most of these bids, eating up at least half of your cash.
- The process is repeated with the few options you win.
- You win less than half, leaving you with less money than you started with.
- Rinse and repeat until all of your money is gone.
This is how binary options schemes are meant to work. With Auto-trading you are pretty much guaranteed to lose in the long run. Even experienced binary options traders only have success because they’re good investors and don’t rely on auto-trading. If you’re not an experienced binary options trader (and really, no one with experience would use a site like this), you’ll be doomed if you use Bitcoin Malay System.
Check out our Bitcoin Profit review to see what a high quality Bitcoin trading robot looks like. Don’t get to this point in this highly entertaining Bitcoin Malay System review thinking that all Bitcoin robots are scams. In reality, it is possible to create an algorithm that makes Bitcoin trades. The thing is, these bots tend to have inconsistent results. They also are only used by people who really understand this industry, and who have some serious technological savvy. Here are some ways to spot the real bots from the scams, if you want to have some auto-trading in your life.
- Only pay attention to trading robots that make reasonable claims. If they’re saying you can get rich quick or receive thousands of dollars in effortless profits every day, you can pretty much guarantee that this is a scam.
- Make sure that you ask good questions, and that these questions are answered by the service provider. You should always know how operations are conducted, and don’t even just “trust” that buzzwords like “algorithm” mean anything in this case. It’s more likely you’re being dazzled by jargon, and the person behind the scams hopes you don’t think about the reality too hard.
- Work with robot companies that have real founders and teams. The ones we’ve highlighted in other reviews have actual Github accounts, LinkedIn profiles, and other methods to establish that real people are behind the technology.
Bitcoin Malay System Review: the Verdict!
Bitcoin Malay System is a scam, plain and simple. Most of the content on the website it copied from other scams, and sometimes names and details aren’t even changed. This is a cynical attempt on the part of the scammer, to part ignorant investors out of the little money they have. Of course, there’s nothing wrong with being ignorant – we’re all born that way. But to stay ignorant and not learn from mistakes isn’t right. Take our advice and steer clear of these scams, and learn how to see them for what they are without getting burned first!
Does Bitcoin Malay System Actually Sell Bitcoin?
No. There are plenty of real Bitcoin brokers like Coinbase who will sell you real BTC in exchange for money. To get this Bitcoin, you'll have to have a Bitcoin wallet, and you'll need to learn all kinds of Bitcoin safety rules. Scam sites like Bitcoin Malay System don't sell real Bitcoin. They allow the user to make bets about the price of Bitcoin. But rather than putting the user in the driver's seat, the auto-trade feature makes bad bets so fast that the user loses their money before they can stop. They'll never get any dollars, or Bitcoin, in their account ever again.
Are These Scams Based in the US?
No one really knows where this breed of Bitcoin trading robot scam comes from. As we pointed out earlier in this review, some of the stock photos used on this site are from Russian sources, so it's not unthinkable that this is a Russian scam. That would make sense, especially because similar scams are being cracked down on pretty hard in the United States. Still, it's the internet, so anyone can create a scam from anywhere. Probably, there are various teams and individuals around the world who make scams like this, rather than a single entity, though the opposite could be true.
Why Are Celebrities Sometimes Rumored to Support These Scams?
These scams want to attract people who don't have much common sense. They do this by saying, Hey! Here's Elon Musk. He's smart and famous and into technology, so he endorses Bitcoin Malay System. They hope that their users will be too lazy to look any deeper, and will get swept up in the excitement that they have a secret investment technique straight from Elon Musk. Obviously, that's a silly thing to believe, but you'd be surprised how many people fall for these tactics. Bitcoin scams use all kinds of other celebrities and TV shows, like Shark Tank and Dragons' Den as well.
Is Bitcoin BTC Itself a Scam?
The problem with these scams (one of the problems, anyway) is that they make people believe that Bitcoin BTC, itself, is a scam. This isn't true. Bitcoin is real digital cash. You can buy stuff with it. You can trade it for other cryptocurrencies. You can save it as an investment and (hopefully) sell it for much more money later. Bitcoin is a hot topic, though, and poorly understood by most. These scams try to take advantage of people who have heard of Bitcoin, but who don't really understand anything about it.
Do You Know of Any Real Bitcoin Trading Robots?
We've actually covered some real Bitcoin trading robots elsewhere on our site. It's easy enough to create a bot that makes trades on Bitcoin broker sites. It's harder to make a Bitcoin robot that makes successful trades reliably. Most of the authentic Bitcoin trading bots have inconsistent results, and probably will not make their creators rich, much less you. Try these at your own risk, but do share with us if you find good results with one or another.
How Can I Trade Risk-Free With a Bitcoin Robot?
The only way to try a robot risk free is to use one with a free demo account. This will allow you to test site functionality without risking money. Make sure that the demo version you are trying actually has the same engine as the real version, because sometimes this can be faked. If you like what you see, invest a minimal amount first to test results. Only when the money is cleared in your account, and on its way to your bank account, should you chance greater investments.