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Bitcoin System, is it a scam?
Bitcoin System, is it a scam?
Security

Bitcoin System, is it a scam?

By Marco Cavicchioli - 26 Mar 2020

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Bitcoin System, is it possible to earn a lot of money in a short time and without effort, or is it just a scam? 

Bitcoin System proposes itself as an automatic cryptocurrency trading software. First, it should be pointed out that automatic crypto trading is a very risky activity. Actually, three times as risky. 

The first thing to note is that cryptocurrencies are high-risk investments. In other words, not only is there no guarantee of profit, but often it is much easier for the less experienced to lose than to earn. 

In addition, trading is a very risky practice, especially for those who do not have a solid experience in the field. 

For example, many trading platforms are required by law to display the percentage of accounts at a loss on their websites, and this percentage is often over 60%, 70%, or even 80%. This proves beyond a shadow of a doubt that trading is a high-risk activity for those who are not experts in the field. 

Finally, automatic trading is even riskier because it is regulated by algorithms that can also make mistakes and that they are not always able to notice when they are wrong. Moreover, these algorithms are programmed by human beings, so they are absolutely imperfect. 

Having said that, Bitcoin System, even if it were actually an automatic cryptocurrency trading software, could not absolutely guarantee gains without risk and without effort

If anything, the fact that those who promote it completely overlook that these are very risky practices and that they do not guarantee earnings at all, already makes it clear that they are literally lying. Considering that in the financial field those who lie from the beginning will probably continue to lie afterwards, it is good to stay away from these scammers

However, the situation is actually even worse. 

In fact, these liars don’t just lie about the risks. They probably lie about the whole thing, which means that nothing they say or promise is true

For example, they often tell stories, completely made up, of people who claim to have earned a lot of money through these automatic cryptocurrency trading programs, while in reality several true stories have been documented of people from whom even very high amounts of money have been stolen through deception. 

They often start by inviting to invest only a few hundred euros, showing some numbers on their website that increase, giving the unfortunate user the illusion that they are earning, only to ask them for more money. 

Whereas, it is plausible that the infamous automatic cryptocurrency trading program doesn’t even exist in reality: this too may be a lie. 

All in all, it’s just smoke and mirrors designed to convince naive people to give them money, using an immense amount of clever lies that arouse the desires of those who have difficulty understanding that they are just lies. 

 

Marco Cavicchioli
Marco Cavicchioli

Class 1975, Marco teaches web-technologies and is an online writer specializing in cryptocurrencies. He founded ilBitcoin.news, and his YouTube channel has more than 11 thousand subscribers.

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