With the use of Bitcoin and other cryptocurrencies, this is also becoming more and more widespread Scams have been developed that target these coins. They are hoaxes designed to rob cryptocurrency users. With this in mind, it’s important to note that for several months now, many people have wondered if they could really get rich on Bitcoin Circuit, or if instead it was a scam or at least something that is not clear. seemingly miraculous project.
Bitcoin Circuit describes itself as an automated trading platform that can be used to buy and sell cryptocurrencies.. It is a smart trading system that people can use to make money even if they don’t know how to trade cryptocurrencies manually. On the web portal they describe the project as an initiative of two brothers to make it easier to earn money.
What the Bitcoin circuit promises
In this case, he tells us directly about the possibility of making millionaires by investing in cryptocurrencies. All you have to do is make a deposit on the platform and through an automated investment program. Users will “begin” to get “promising” returns that are absolutely above the market average and guaranteed.
In their web portal they point out that with Bitcoin Circuit the new operators “You can make great business decisions with little effort”. They also indicate that the user can be more precise with their operations. They add that everything is automated and that you have to make the algorithm work for the user.
Finally, they point out that you shouldn’t be monitoring the markets as Bitcoin Circuit opens and closes trades for you. The minimum deposit that can be used to trade on the platform is USD 250 up to USD 15,000.
But is it a scam or not?
Although the topic has been covered in many ecosystem media, Nobody can guarantee or deny that it is indeed a scam. It is up to the competent authorities to decide whether or not this is the case. However, it does collect questions from people indicating that it is a scam.
What is certain is that Bitcoin Circuit is an operator who promises its customers very high profit opportunities in a short period of time. This is done via an automated trading system that can support these purposes in a simple and intuitive way.
It is also very noticeable that on the official website of the Bitcoin Circuit we see how there are clones that were created at the same time. Which could indicate something is wrong.
However, it is also observed how many people, without sufficient knowledge, approach such operations with overly optimism. And given the lack of information offered on this website, they deposit the money in the coffers of the offshore brokers advertised by this platform and find that the reality is very different from what they can imagine.
How can you tell if it’s a scam?
We can help you differentiate between potential Ponzi schemes or cryptocurrency scams in general. Some of the reasons many people are fooled into fraudulent projects are the lack of regulations, a lack or general understanding of cryptocurrencies, and the very high likelihood of realizing massive returns on their investments, all of which have been observed throughout this decade of dawning new ones decentralized economy.
We remind you that if you want to invest in Bitcoin or any other cryptocurrency and you are not familiar with such projects, you should do so with reliable and regulated brokers. Also, keep in mind that, “If it sounds too good to be true, it’s likely a scam”.
There are three basic characteristics to consider in any cryptocurrency schema, from which the rest of the key points are generated in order to distinguish fraudulent projects. Basically these are: unrealistic statements, missing code base and missing key information.
Ponzi programs are fraudulent scams that generate profits for former investors who take advantage of subsequent investments without a legitimate operation.
In this section, we find three common fraudulent programs in the community that promote unrealistic claims: Cloud Mining, Crypto Investment Packages, and Multi-Level Marketing Programs.
In essence, Ponzi schemes and scams do not share the common features of legitimate cryptocurrency projects such as decentralization, complete transparency through a public book, and open source code that anyone can view and review.
It is important that you acquire adequate knowledge of cryptocurrencies and how they work in general so as not to fall for these various scams and shady schemes.
For anyone looking to invest in cryptocurrencies or any other asset for the first time, it is important to remember that there is no such thing as easy money. Obviously, there are opportunities and tools that will help improve our business in the market. But nothing more.
The views and opinions expressed here are solely those of author and do not necessarily reflect the views of Cointelegraph. Every investment and business move is associated with risks. You must do your own research when making a decision.