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.
When a robot is reliable, it also usually offers many different payment methods in an attempt to meet the needs of customers. Bitcoin Method however, only offers credit and debit cards and Bitcoin. E-wallets, PayPal or bank transfers are not an option. Once you have deposited your money, you can start trading. You can either trade in auto trading mode on the Bitcoin Method platform and wait to lose your money like we did, or trade without any support on a broker with a built-in trading platform that no one trusts. Our suggestion is to go for a third option: trade on another robot!
Can you make money with Bitcoin Method?
As Bitcoin Method is a scam and you can’t make money with the app. The amount of profits the operators of the service promise may sound tempting. However, you should think about the security of your funds first – you don’t want to lose money, do you? Instead of creating a Bitcoin Method account, check out a trustworthy platform like Bitcoin Code.
During our test, we did not make any money. We actually lost our entire investment amount. We are not the only ones who have had a bad experience on this robot though. We’ve had a look online and found user reviews of people claiming that the Bitcoin Method software stole all of their money and recommending readers not to use the robot. There are much better robots out there that you can choose from.
While we have made it clear that we believe you should get your hands off Bitcoin Method, you may still be wondering what are the best robots you can trade on. We have reviewed many robots and have come to consider Bitcoin Loophole and Bitcoin Revolution two of the best ones in the market. Please keep in mind though, that no matter what platform you decide to trade on, crypto trading can be a dangerous activity as it can result in the partial or total loss of the funds you invest. The cryptocurrency market is known for its volatility, which means that no matter what accuracy rates your robot has, they are sometimes not be enough to guarantee you profits. However, if you do trade with reliable robots like the ones we mentioned, your chances of making money will certainly increase.
Being one of our top-rated algorithmic cryptocurrency platforms, Bitcoin Revolution features an overall great service with high-performing bots and a fast and easy account creation process. After signing up, you can use the demo trading platform of the Bitcoin Revolution app to test the bots before depositing any funds from your Bitcoin account. Its main advantages include:
- The crypto bot has a trading platform that can benefit both novices and experienced users.
- It admits that trading with cryptocurrencies can be a risky activity.
- A demo account is available.
- The robot is accurate over 90% of the time.
- Feel free to take a look at our Bitcoin Code to find out more.
Due to its user-friendly interface and nice design, Bitocin Loophole stands out from most of the crypto robot services. But there’s one more reason for that: this platform has highly profitable bots. Therefore – along with Bitcoin Revolution -, the Bitcoin Loophole app is one of our top-rated crypto robot services. In sum:
- It is a legit crypto bot.
- Your prospects of making up to $1,000 a day are very realistic.
- The Internet is full of great reviews when it comes to Bitcoin Loophole.
- You can trade in demo mode any time you want.
- Check out our Bitcoin Loophole review of the robot if you wish to know more.
Bear in mind that you do not necessarily have to trade on these robots in particular. Feel free to have a look through out Bitcoin Robot page to choose robots like bitcoin Era that one you think works best for you. Of course, you are free to decide what robot you prefer. However, to prevent you from ending up investing your hard-earned money on a scam, we put together a list of things you should pay attention to when you are not sure whether a robot is legit or not.
- Look for good review pages. It is always a good idea to first look for a good review page that you trust before you even think about searching for a robot. Review pages are where you will find information about these platforms and all pages say different things. Our recommendation is to look for one that you like and stick to it for any kind of information you are looking for when it comes to cryptocurrencies.
- Look for the creator’s identity. Whenever the identity of the platform’s developer is disclosed, then it usually means that they have nothing to hide and that the robot is legit. However, sometimes these identities are made up, like in the case of Bitcoin Method and without thorough research, it is hard to find out whether that identity is real or not. There are more things you can look at though, to see if the platform is a scam.
- Check for risk disclaimers. When robots are scams, they usually attempt to hide risk disclaimers, which are required by law. If a risk disclaimer is in plain view, then you can be sure that the platform is trying to be transparent and that it is most likely reliable because it demonstrates that it is trying to protect its users.
- Try the demo account first. Trying the demo account first is always advisable because it gives you a good idea of how the platform actually works. When a robot is reliable, while demo trading, you will also be offered a tutorial of the robot and then you will be allowed to place trades. Some robots are not so transparent and they often force you to deposit your money before you can place trades, which is always very suspicious. If a demo account is available, try it and see how you feel about the robot.
The Verdict: Bitcoin Method is a scam service
Now, we have reached the end of our Bitcoin Method review. It’s time to summarize our findings. Firstly, we have rated Bitcoin Method 1 out of 5 stars, so we recommend you not to try the service. The Bitcoin Method website is full of false promises, inaccurate information, fake photos, and unrealistic statements (just remember that the alleged operator of the service, Joe Templeton, claimed he had hacked the Bitcoin algorithm. Furthermore, as we tested the demo trading app of the service, we realized that it was a full copy of the Bitcoin Code platform.
So, instead of creating a Bitcoin Method sign-up, we advise you to check out one of our top-rated platforms, Bitcoin Revolution or Bitcoin Loophole. And remember; using a crypto trading bot has high risks, so you should only use such apps at your own risk.
How to trade cryptocurrency via Bitcoin Method?
We’ve tested and reviewed numerous digital currency exchanges and brokers to find the best cryptocurrency trading platform. Based on our findings, the best cryptocurrency trading platform to buy Bitcoin at is Coinbase. Coinbase features a user-friendly platform, social trading (including copy-trading), multiple payment methods (including credit card and PayPal), and a fast account creation process. Other recommended cryptocurrency trading platform solutions for Bitcoin include Plus500, Binance, and Changelly. This is a question we did not provide an answer in our Bitcoin Method review. The reason for not specifying how to trade cryptocurrency on the Bitcoin Method app is simple. We believe that the service is a scam, and we don’t want our readers to lose money by trusting this algorithmic trading solution with their funds. As mentioned in the review, we recommend using Bitcoin Code instead. Read back to the step-by-step guide part to find how to trade cryptocurrency via the Bitcoin Code app.
Do I need to develop my own strategies before using a crypto bot?
A handful of the crypto bot solutions require you to develop your own trading strategies. On these apps, you can do that by either writing the code for your strategy or by using the user interface of the platform. The good news is that most crypto bot services have their own strategies. You just have to select the coin you seek to trade, deposit funds into your account, and turn on the crypto bot. And you are done! You only need to monitor the performance of your crypto bot thereafter.
Why can’t crypto bots provide accurate Bitcoin price prediction?
While we were analyzing the Bitcoin Method website, we’ve seen that the alleged operator Joe Templeton has hacked Bitcoin’s algorithm, so he knows precisely where the coin’s price is heading. We’ve stated that no one can provide an accurate Bitcoin price prediction. Our reasoning for that is that many expert traders and investors have tried that, and none of them succeeded. The coin’s volatility can be so high sometimes, that no one can predict precisely where its price is heading.
I’m interested in holding Bitcoin instead. What’s the best crypto wallet?
We understand, not everyone is interested in (algorithmic) cryptocurrency trading. And yes, we can recommend you the best crypto wallet solutions. But first, let’s emphasize the importance of security. As you are holding coins in a wallet, you are subject to hacker attacks which are highly targeting the crypto space. So, it is crucial to use a Bitcoin wallet that is safe. We think that the best crypto wallet solutions are hardware wallets as they require the users to verify their transactions with a PIN via the hardware device. This keeps your coins really safe as the attackers have to get your PIN and your hardware device in addition to hacking the software side of your wallet to steal your funds. We recommend checking out any of the trusted hardware wallet manufacturers: Ledger, Trezor, and KeepKey. If you would like to store your coins in a software wallet, then we recommend using the Coinbase Wallet, Hodly, or Exodus.