Easy Bitcoin calculator This calculator is the Bitcoin-only solution, and yet, it provides you with a quick way to calculate your profits. Just like with the previous tool, you need to insert the number of coins, Bitcoins (BTC) in this particular case, and the buying and selling prices. Oct 24, · What we have found out in the Bitcoin Profit review: The Bitcoin or BTC profit is an automated trading tool for the people who have no idea about cryptocurrency but want to invest in the market to gain profit. Since this is a volatile market, it requires very vigilant steps to be taken to gain profit from it, and the decision-making process. Mar 19, · Bitcoin Profit is not a legit trading platform, and despite its seemingly authentic look and feel it was designed to perform as a fraudulent investment app using a variety of fake data feeds and a professional looking user interface. Some second rate review sites were also recruited for this mission.
Work out bitcoin profitFree Bitcoin (BTC) Profit Calculator
South Korean scam BitKRX presented itself as a place to exchange and trade bitcoin, but was ultimately fraudulent. The fake exchange took on part of the name of the real Korean Exchange KRX , and scammed people out of their money by posing as a respectable and legitimate cryptocurrency exchange.
BitKRX used this faux-affiliation to ensnare people to use their system. The scam was exposed in And, the reality is just as bad. Several organizations have scammed people out of millions with Ponzi schemes using bitcoins, including South Korean website MiningMax. The site, which was not registered with the U.
Securities and Exchange Commission, promised to provide investors with daily ROI's in exchange for an original investment and commission from getting others to invest basically, a Ponzi scheme. MiningMax's domain was privately registered in mid, and had a binary compensation structure. The fraudulent crypto-currency scam was reported by affiliates, resulting in 14 arrests in Korea in December of Korea has long been a leader in technological developments - bitcoin is no exception.
However, after recent controversy, it seems as though this is changing. The biggest challenge facing bitcoin now is the potential for misuse, but that's true of any new technology. A classic but no less dubious scam involving bitcoin and cryptocurrency is simply, well, fake currency. One such arbiter of this faux bitcoin was My Big Coin. Essentially, the site sold fake bitcoin.
Plain and simple. Among other things, the site fraudulently claimed that the coin was being actively traded on several platforms, and even mislead investors by claiming it was also partnered with MasterCard, according to the CFTC case.
Still other scammers have used ICO's - initial coin offerings - to dupe users out of their money. Along with the rise in blockchain-backed companies, fake ICOs became popular as a way to back these new companies. However, given the unregulated nature of bitcoin itself, the door has been wide open for fraud. Most ICO frauds have taken place through getting investors to invest in or through fake ICO websites using faulty wallets, or by posing as real cryptocurrency-based companies.
The company was sued for misleading investors and lying about products, among other fraudulent activities. The U. The website allegedly used links on a legitimate website Bitcoin Gold to get investors to share their private keys or seeds with the scam, as this old screenshot from the website shows. Bitcoin Gold, the site's wallet used in the scam, began investigating shortly after, but the site remains controversial.
Still, firm released a warning to bitcoin investors. Following this basic rule of private key management greatly reduces your risk of theft. While this type of scam is certainly not relegated to just bitcoin thank you for the education, "The Wolf of Wall Street" , a pump-and-dump scam is especially dangerous in the internet space. The basic idea is that investors hype up or "pump up" a certain bitcoin - that is usually an alternative coin that is very cheap but high risk - via investor's websites, blogs, or even Reddit, according to The Daily Dot.
Bittrex, a popular bitcoin exchange site, released a set of guidelines to avoid bitcoin pump-and-dump scams. While "stackin' penny stocks" may sound like an appealing way to earn an extra buck thanks to its glamorization by Jordan Belfort , messing in bitcoin scams is nothing to smirk at. With the inevitable rise of bitcoin in current and coming years, it is becoming increasingly important to understand and be on the lookout for bitcoin scams that could cost you thousands.
As more people become interested in Bitcoin, more people are also likely to try and pull off a scam. There is no one formula to avoiding being scammed , but reading up on the latest bitcoin red flags, keeping information private, and double checking sources before investing in anything are good standard procedures that may help save you from being duped. Cryptocurrency can be a confusing topic even for the experienced Bitcoin enthusiast, so the more you read up on the world of Bitcoin, the more prepared you can be.
After all, knowledge is power. Some second rate review sites were also recruited for this mission. Their job is to produce convincing reviews and trick customers into joining this worthless program under false pretenses.
They do so by appealing to their victims when they are most vulnerable, and of course that is when they are stressed for cash. We have also received complaints about viruses and Trojan Horses infecting work terminals and hand-held devices with malware and spyware. Update : Bitcoin Profit is being relaunched as Profit Bitcoin notice the similarities. Scammers do that to confuse their victims and make their scheme more effective.
We attached an image of how it looks below as a point of reference. If you have signed up for this fake app, we implore you to refrain from funding your trading account. Now for the actual software. On the right side below we are looking at the blacklisted Crypto Soft signals trading interface, and right next to it you will see the one for Bitcoin Profit.
You can clearly see that we are dealing with a complete clone and replica. Moving forward, here we can see some testimonials taken from the Bitcoin Profit sales presentation.
He claims he started out as a small company with 5 employees and a good idea. Here comes John Mayers, the man with a plan!