Beware of Crypto Bots Scams

It’s one area of the cryptocurrency industry that is prone to many scams. Each day, an untrue trading bot created that is designed to steal your money. There are a lot of dangers in the world, so you have be on guard – click for source!

Three crypto trading bot scams you must stay clear of. It would be necessary to write an encyclopedia of 1,000 pages to cover the entire list of scams. Three robots were chosen by us that all showed common red flags. Before trading ensure that you know the warning signs.

Crypto Trading Robots 101

In short, bots that trade cryptocurrency will purchase and sell crypto for you. Strategies for trading by the bots can be arranged by the user in order to trade crypto according to the preferences of the user.

We have to warn that you. Robots that trade have been suspected of being fraudulent in a few instances, despite the fact that they’re legitimate.

Unexperienced traders often are enticed to believe that a bot will do the job to their benefit while they sit back and earn a steady income. It’s not possible. If it wasn’t, everybody is drinking Pina Coladas on Bora Bora. Bots can help you by providing it with the right information that’s in line to your strategy for trading.

It’s helpful to know the signs which indicate bots that are fraudulent. Every bot has been deemed by us to be fraudulent because of their alarming features. It is now possible discern the warning signs which indicate the existence of a fraudulent trading bot.

It is recommended that you keep learning through reliable sites, such as TradeCrypto as there’s no way to be certain. There you will find the list of scambots as well as a thorough description of the scams. It is possible to prepare yourself by becoming aware of warning signs and common scammers.

Three Cryptobot Scams That You Must Beware of

Let’s get back to the main course. We’ve put together a red flag checklist for every scambot. The indicators alone don’t constitute definitive proof, but when you add them together the evidence is crystal evident.

Crypto Bank

The first step in identifying the fraud is the site of the bot that contains the usual techniques. The fraudsters posted a range of security logos supposed to protect the Crypto Bank’s customers. They aren’t involved with crypto-security.

The disclaimer says that in the event that you agree to the terms and conditions set forth by Crypto Bank, you can contact them any time. (They typically make use of WhatsApp).

The final indicator is the ridiculously large deposit of $250 while the genuine trading robots require only an initial deposit of $10. They contact you on WhatsApp in order to “encourage” users to begin trading. They will ask you to pay $250 to steal the money. Don’t do it.

Logos for Crypto Bank and Bitcoin Bank have the same logos. Bitcoin Bank has been a trading robot scam for a long period of time. The scammers employ the same template and brand name to build an entirely new site. Then they continue their scam until they are caught.

Ethereum Code

Ethereum Code is actually the administrator of multiple websites that have a lot in common. It is a common occurrence when trading bots are involved. It’s a little suspicious since it’s unusual for an organization to own several websites. Answer: It allows fraudsters to operate even when their site is taken down. Cunning.

As per reports, the UK Trading Association awarded the Ethereum code with a prize to be the most effective trading program. After further research and analysis, it’s clear it was not true. The majority of fake automated trading systems claim to originate from the United Kingdom. It’s hard to determine whether this is the case, however, it’s highly unlikely.

The only method to contact Ethereum Code’s Ethereum Code team is by posting a message on the website. There’s no email address physical address, email, or telephone number. This is clear the fact that Ethereum Code doesn’t want its creators to be found. Why? What is the reason?

Bitcoin Formula

The bot claims to be able to achieve an accuracy of 98. Yeah, right. If you are hearing people promise the highest accuracy rates They are merely trying to swindle you.

The most reliable trading robots provide a variety of choices for crypto traders. Futures management, portfolio management and margin trading are just a few of the options. Fraudsters who design fake bots such as Bitcoin Formula claim that their product only provide demo or live trading accounts. It is likely that they are not able to make false images which match the features that are common to all products.

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