Bitcoin Compass – Is it a scam, test and reviews!
Everyone has heard of the new emerging investment method known as trading. Even if you don’t have specific knowledge on this topic, most people understand the basics: You buy Bitcoin when they are at a low price, and sell Bitcoin when the price goes up, generating profit.
While trading is much more complicated than what we have said in the previous paragraph, the basic principles are the ones already named. If you are able to acquire enough knowledge to predict the ups and downs of Bitcoin, you can make up to thousands of dollars in profit. Trusted platforms like eToro offer this service for thousands of people on a daily basis, where the profits can be gigantic.
However, it was no wonder that apps like Bitcoin Compass started to emerge. These apps promise unimaginable profits, as they predict the ups and downs of Bitcoin. Since being a broker involves a large investment of time and study, many fall victim to this type of application that will „save“ them the time needed to make transactions.
The truth of Bitcoin Compass, a gigantic fraud
Most of those just starting out in the Bitcoin world (and some experienced ones), feel excited to get an application that works as a buying and selling robot, with a „99.4%“ effectiveness.
What they don’t know, is that it has been proven for a while now that these bots, are nothing more than ghost apps, designed by fraudsters in order to get substantial deposits to their accounts, and then leave their users with gigantic losses.
But finding evidence of the fraud in its entirety is complex. Therefore, thousands of people fall prey to the scam every day, and thousands of euros are sent to the accounts of these fraudsters, who enrich themselves in a totally illegal way. Among the evidence we can name:
- They are illegal brokers, with no reputation to confirm
- It is impossible scientifically and economically speaking, a predictive ability of 99.4% as these programs claim
- Their pages are nothing more than a Clone Scam
- The data shown is unrealistic, although it looks like a continuous uninterrupted profit
- At the time of wanting to withdraw the money, excuses or problems will appear
How this Bitcoin Compass Scam works
The term clone scam is given for those online services that are offered on different pages, promising unimaginable profits with little effort. The profit is so attractive that it is no wonder that many people are attracted to click on their banners or ads, to be redirected to a specific page.
The funny thing is that no matter what name you click on (Bitcoin Compass, Bitcoin Predict, Bitcoin Billionaire, etc.) you will end up redirected to the same page every time. From this reason, comes the name „clone scam“.
The truth is that many inexperienced users ignore this first sign and decide to take a look at the page. It shows gigantic claims by users who have quickly become millionaires by using the application. This is followed by pictures, photos, testimonials, bank statements, etc. In some cases, you can even see videos of famous people, giving positive lectures about this method of earning, but without naming any specific page.
Everything is designed to appear and give the feeling of profit to users, who excited, decide to join what the page offers.
And how do the scammers make the profit?
Just like any other type of scam, the people running this scam do not engage in forced theft of any kind. It is we who, attracted by their words and the service they offer, fall prey to their deception, and decide to enter into all that Bitcoin Compass has to offer.
After taking the initial look, we enter a registration mode where we are asked to enter our data in some occasions, as in others we seek to create our account. But when the time comes, the registration can not be completed, until the payment of an initial deposit. This deposit is usually a minimum of 250 euros.
The deposit can be transferred to a bank account, or paid in different ways with online payment methods. The truth is that once the money is transferred, there is very little chance that we will see it again.
What happens next at Bitcoin Compass?
Once the initial deposit is made, the application already got what it wanted. However, the page must maintain its facade of credibility.
The site will congratulate us for having made this excellent decision, and subsequently start sending us different data of our earnings obtained through the days. These sent documents show the earnings in an unrealistic way: 99.4% of predictions won, as opposed to no losses. The truth is that they show us how the money is practically doubling day after day.
The problem arises when we decide to withdraw our winnings. At the beginning, it seems quick and simple, however, we will soon encounter the following possible problems:
- Withdrawal cannot be made due to platform problems
- They start offering us juicy offers that will not be valid if we withdraw our money
- They encourage us to invest more to earn more
- They tell us that the withdrawal was sent to our bank account, but it never arrives
Users somewhat desperate, seek immediate solution, so they turn to the customer service of such pages. Surprisingly, they will find a response from the team of scammers, who will kindly seek to reassure the customer and convince him that everything is normal. They will also try to offer them packages, offers, etc. Everything in an attractive way so that the customer invests more.
When patience runs out, the scam can be noticed: the money cannot be withdrawn and there are always excuses or problems to withdraw it. Added to this, in some cases, the accounts disappear without a trace, taking with them all the user’s deposit and subsequent investment.
What can I do to avoid being a victim of this type of scam?
Once you have made the deposit in this type of pages, it is unlikely that you can benefit from this. The best you can get out of this situation is to recover a little money by seeking to withdraw constantly.
However, there is no solution to be scammed in this way, the best method is prevention. For this we must take into account, these characteristics, and avoid these pages:
- They offer gigantic profits without any effort
- Their links redirect to pages with different names, or several different links redirect to the same place
- Comments on the website cast doubt on the reputation of your homepage
- The images on the page are not the site’s own: they can be found elsewhere
Finally, although this type of prevention exists, the most viable solution is to seek to work with legal Brokers. Sites like eToro are a perfect solution, where reputation and experience come together, to give a stable platform.
eToro, a friendly and completely reliable investment platform
Although there are hundreds of sites on the internet where you can make wise investments and buy and sell virtual assets, few have the reputation of eToro.
This site is one of the most famous Bitcoin buying and selling sites on the web, where any user can use the different tools to achieve the financial freedom that other sites promise that are just a scam.
eToro is a site that does not ask for any initial deposit, each user makes the deposit you want to buy and invest in what he seeks. The platform itself makes a small commission for its service, which is usually imperceptible to the profit.
The profit status is completely real, showing all the gains and losses made by our person in the purchase and sale of Bitcoin, so it can be studied to improve in the future. The page also seeks that users continue to invest healthily, so every so often you can see additional tools, courses, lectures, etc.. All of these are designed to help each user grow exponentially as a broker.
Finally, eToro is not limited to Bitcoins. As we all know, Bitcoins have a high price, and many people are looking to invest, but do not have extremely high capital. Instead of investing in fractions of Bitcoin, you can invest in other cryptocurrencies, stocks, treaties and so on. All with the same security as if you were investing in Bitcoins.
The profit is not miraculous as the fake sites say: it will improve as we improve as a broker. As our profits grow, our investments can get bigger, and everything will increase exponentially, but one thing is for sure: eToro will never give us an excuse to withdraw our money, let alone face our accounts disappearing for no reason. Being a legal broker, we can not only be confident that we will get our money back, but we are also protected by the legal framework of many countries, when it comes to complaining to any authority.