In the growing world of cryptocurrencies, there are more and more platforms you can trade on designed to support you in your investment decisions even as an inexperienced user. An example of these are auto trading robots is Bitcoin Method. We have tested this particular platform and have found it to be a scam. Our suggestion would be to try Bitcoin Loophole instead. Keep on reading to find out why we consider Bitcoin Method to be a scam and everything else you need to know about it.
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Is the Bitcoin Method a scam?
What is Bitcoin Method, and is it a scam?
Taking a look at the Bitcoin Method website, we did not find it to be very convincing considering that it is full of unrealistic statements. The Bitcoin Method website advertises that, with their service, users can potentially make up to $14,000 a day. However, we tested the platform by trading on it and we lost our money. That is definitely not the same as making $14,000 in one day. The website also states that the service was featured on mainstream media outlets, including Forbes, Fortune, and CNN. So, the robot should have hundreds of thousands – if not millions – of users. But that’s not the case as we’ve checked all over the internet, and there was not a single mention or reference of the Bitcoin Method system in the aforementioned media outlets.
According to its creator, the Bitcoin Method software is capable of predicting the future price of Bitcoin but that is actually impossible. Not even human experts are capable of knowing where Bitcoin price is headed in the short term. But we can’t even predict the mid and long-term movement precisely.
In general, based on our analysis of the Bitcoin Method website, the service is full of false promises. Instead of using it, we recommend another algorithmic crypto trading bot such as Bitcoin Revolution.
Who founded Bitcoin Method?
The alleged operator of the Bitcoin Method app is Joe Templeton. According to the service’s website, Joe is a “Harvard-educated cyber-security whiz”. Thanks to his excellent hacking skills, he has managed to breach the Bitcoin algorithm. He claims that Bitcoin Method is a software capable of predicting the price of BTC in advance. The website also provides a picture of Mr. Templeton. However, we’ve searched the image in Google, and found the picture to be a stock image. So either Joe is featured on stock photos besides running the Bitcoin Method app, or the image about the operator is fake. And there is a much higher probability for the second case. We believe that “Joe Templeton” is just a name created to link a person to the robot, which is a way of attracting new users. The actual identity of the developer remains unknown.
Why is Bitcoin Method a scam?
The Signup, Deposit, and Trade Process on Bitcoin Method
The registration process is fairly straight forward. That is not necessarily a positive note considering that it may be a strategy to get users to the deposit stage as fast as possible before they change their mind about trading on Bitcoin Method. Anyway, to sign up you simply have to go on the official website. Below the promotional video or on the right, depending on the size of the screen you are using, you will be asked to type in your full name and email address. You can then click on “Get Started Now” to continue.
At this point, you will be requested to complete a registration form by inserting a password, your country code and your phone number. Once you have done that, you will be asked whether you want to start trading or test the platform. If you choose to deposit your funds, you will most likely be redirected to a questionable broker website, where you will have to deposit at least $250 to be able to start trading. Even though the fact that the robot is linked to a broker is normal, because that is how auto-trading robots function, it is not normal that Bitcoin Method will link you to an untrustworthy broker that no one’s ever heard of before.