Bitcoin Decoder review – Is it a scam or not? The real test of the robot
Table of Contents
Review: | Type: | Min. Deposit: | Demo account: | Automated Trading: |
|---|---|---|---|---|
 (1.2 / 5) | Cryptocurrency trading | $250 | Yes | Yes |
Table of Contents
The latest hot thing on the trading platforms is trading Cryptocurrencies. There are many cryptocurrencies available for trading. There are many markets available that accept cryptocurrency trading. Some are safe, and some are scams. One sure-fire way of detecting a possible scam is that the site generators feature a home page virtually identical to many other sites.
Before delving into whether this is a legitimate site, we must understand cryptocurrency. A cryptocurrency does not exist in the material sense. It is a virtual currency that can be used for services or goods. The payment for these goods and services is down via a virtual platform. We can almost look at a cryptocurrency as a token. For example, many offer the ability to accumulate points that can later be swapped for goods. Cryptocurrencies work similarly.
One of the most well-known cryptocurrencies is Bitcoin. Bitcoin is the oldest cryptocurrency. Satoshi Nakamoto conceptualized it in 2009. There are a limited number of Bitcoins available, 21,000,000 to be exact, and to date, investors own almost 19,000,000. One way to accumulate bitcoins (or fractions of a bitcoin) is to mine them. Bitcoin mining entails solving complex problems. The value of one bitcoin is massive, over $60,000 at present. It is easy to see why cryptocurrencies, particularly bitcoin, are stealing into the trading markets. It is also easy to see that scammers are eager to climb onto this gravy train.
What is Bitcoin Decoder? – The robot presented
Bitcoin Decoder uses an algorithm that sends bots to secure the best deals for trading. The originators claim that it has a 99% success rate. so with this system, you cannot lose. This claim is a bit worrying as no trading platform should offer you those odds of success. The market is volatile and can change from one second to the next. The volatile market is one reason why the site encourages you to trade in an automatic mode, as no one can spend 24/7 on their computer watching trades. If you need something like bathroom breaks, for example, the market may choose that moment to rise or fall.
The algorithm supplies you with a bot to watch your daily trading. The bot’s job is to analyze and update your trade. The bot can update and analyze market information. If you choose, you can leave the bot for hours without checking on it. It will hopefully carry on trading the international markets in your favor.
Although this app is called Bitcoin Decoder, it works with all types of cryptocurrency.
Regulation and safety
Many alarms were set off when moving through the website. The environment is weirdly similar to a lot of other trading programs. The developers maintain that all your funds are safe for you should you wish to withdraw.
Shutterstock models are used to bolster their testimonials. They use actors in the videos to share their stories of wealth gained from this site. The Facebook accounts used on their Facebook page are fake accounts. These accounts are created for the testimonial, never to be used again.
There is also a lot of negative feedback from genuine people.
Notice:
On the positive side, the site is secure using Secure Socket Layer. The web address is an SSL address, as can be seen by the lock and by HTTPS, as the s indicates secure.
How does it work? – The trading platform
An Algorithm powers the trading platform. This algorithm scours the internet’s trading venues to select the best market for you. The operation is automated with no input from you apart from the initial setup daily. You will spend approximately thirty minutes sorting out how you want to trade. It is a user-friendly platform. New and experienced traders will be able to register and use it.
Trading can be done with various cryptocurrencies, even though Bitcoin trading and Bitcoin Cash trading are the preferred way to go. Once you have selected the cryptocurrency of your choice, the bot will explore the trading sites to find the best deals.
There is no charge for registering or for the app. Every business has to make a profit. So how can the business operate? No financial company is so self-serving that they do not require anything from you. So how do they make money? They claim that every profitable transaction peels off 2.5% of your profit and deposits into the company’s account.
Open your free account
Signing up is relatively easy. You have to provide your name and email address. The email address is needed to verify that you are who you say you are. They require that the email address you supply is not used on any other cryptocurrency trading account. Once they have verified that you are who you claim to be, you will be allowed into the environment. At this stage, you will likely have to provide a phone number so that agents can contact you – mainly to require that you up your ante if you want to make a profit. A broker will be allocated to you. He will help you make decisions. He will also ratify that your account is being overseen by someone in the know.
You will also have to generate a password. Please remember that all passwords need to be a bit complex for safety.
In general, a strong password should be more than six characters and contain a mixture of upper and lower case letters and special characters and numbers. You should also guard against using consecutive letters or numbers and not use the word password. You must set reminders to redo your password frequently.
The site requests that you are over 18 years old. It also requires you to have a bank account in your name.
Test it with a demo account
Bitcoin Decoder provides access to a demo account after you have completed the sign-up process.
A demo account is helpful. A beginner can operate as if in the real world. It will help them see how they would fare if trading with a real account. It will also help beginners decide if this is how they want to trade.
Experienced traders may decide to skip this step. If you are a first-time cryptocurrency trader, using a demo account for a few transactions might be worthwhile.
Once you are confident about cryptocurrency trading, you will be ready to meet the real-life market.
Deposit money
Unfortunately, you will have to deposit before you can demo trade. If you decide this is not for you, you may battle to get your deposit back. Many sites will claim that the deposit is not refundable. So it is suggested that you check up on this before paying your deposit.
Like many similar apps, they will accept a minimum deposit of $250. However, you will be encouraged to increase this because the more you deposit, the more trading power you will have. Many brokers may require you to up this figure considerably before allowing you to trade. Please check that your assigned broker is on the regulated broker’s list. Regulated brokers will afford you and your investment some form of protection.
Withdraw money
As the program works on a computer, a tablet, or a cell phone, withdrawing from your account should be easy and can take place on the run. Many will advise you to secure any profits you make by withdrawing them. Some traders will opt to reinvest their profits, so their working capital will grow.
Notice:
Trading in any commodity comes with risk. Continuously withdrawing your profit ensures that the only money you are risking is your initial deposit.
Fees
The website assures you that there are no fees. The creator declared that he got tired of paying fees, so he decided to eliminate fees when the idea of Bitcoin Decoder was born. No fees are unrealistic as every business is in it for the money. The creator states that all he wants is 2.5% of any profit you make. This claim makes you eager to participate in their brokerage. You will be charged a small amount when you withdraw your profits.
If you think about it, the minimum $250 deposit could be your fee, mainly if they maintain that the deposit is non-refundable.
Support
They advertise that there is support available 24/7. Your assigned broker or agents may support you. Agents will generally be your first option to get support.
Conclusion – Be careful when using Bitcoin Decoder
In summary, I found many problems with this website.
- The presenter of the introductory video does not introduce himself. There is no way of knowing who the founder is, making me nervous. If I am investing $250 (contrary to what they say, that is a lot of money). I want to know more about the people behind the scheme.
- The links on the page merely take you to the top of the web page. With some of the testimonies, there is a link to see the replies, but all you get is a link to the top of the page.
- The video contains logos of many concerns like CNN, PayPal, MasterCard, etc. On a safe website, these would be links to the specified place, but these are not links.
- Under the links are doctored images that can be purchased on a website. The pictures depict a rich lifestyle but have no reference to the app. They are there to tempt you to join in the promised rich lifestyle.
- There is a timer for thirty minutes to encourage you to act now. Each time I refreshed the page, the timer started again. There is no time limit on the offer. I still got the same timer three days after loading the page. I decided to let it run its course. Nothing happened when it reached zero. I refreshed the page, and … You’ve got it; it started from thirty minutes again. And the app baldly states that you have lost your opportunity when the timer has been completed.
- It states that there are only seventeen places left. Again this is an appeal to the impulsive person to get in quickly. That number of spots doesn’t change. Each time I reload, it is the same. Indeed after the three days that I left between my first and subsequent visits, someone had joined the scheme.
- There is a spelling error on the first screen. I know this could happen, but surely, after several years, someone would have corrected it.
- The video refers to CNN and many rich people. There is no reference to Bitcoin developers from any of them. There are merely generalized statements about wealth, not about wealth, with this particular app.
- These concerns are shared by many investigators of this site. These investigators claim that they are continually dealing with complaints from dissatisfied customers.
- The website has an uncanny resemblance to many others, which have been declared scams. The placement of the video is identical. The placement of the signup form is identical. The wording on the signup form is slightly different, but its appearance is identical to many other insecure websites.
Bitcoin Decoder
Summary:
It is safe and secure from any form of cyberattacks.
Frequently asked questions (FAQs) about Bitcoin Decoder:
Is this program legit?
It has many worrying features that make it seem that they are trying to pull the wool over prospective customers’ eyes. The use of stock models and actors to give testimonials does not encourage us to believe that it is a legitimate site.
Is the environment user-friendly?
Yes, it is. Even a beginner will be able to make their way through the program.
Is the platform secure?
Yes, it is, symbolized by the lock and the use of HTTPS, where the s stands for a secure account is being overseen by someone in the know.
You will also have to generate a password. Please remember that all passwords need to be a bit complex for safety. In general, a strong password should be more than six characters and contain a mixture of upper and lower case letters and special characters and numbers. Please leave your dog or cat’s name out of this decision. You should also guard against using consecutive letters or numbers and definitely not use the word password. You should always make a conscious decision to redo your password frequently.
The site requests that you are over 18 years old and that you have a bank account in your name.
