Last Updated on March 23, 2023 by Stephan Lindburg
Bit Index AI. What Is It Really? Here is Our Review!
Bit Index AI is advertised as a highly versatile and accurate cryptocurrency trading robot. This app reportedly scans the financial markets and exploits money-making opportunities based on profitable margins. In the Bit Index AI sales page, we are told that this trading platform generates profits on auto-pilot for its members. Please be advised that low capital requirements do not guarantee successful trading. In fact, this type of deceptive sales tactic is the cornerstone of fake review websites.
Bit Index AI Broker Check: When we conducted our £250 deposit test, the broker which was assigned to us was named CoinX Central. This broker has as registered business address in Belize. Belize is a shady legal jurisdiction which is used by offshore companies to launder their money. In many cases, this money originates from various investment schemes that are very similar in nature to Bit Index AI scam.
Who Are The Masterminds Behind The Bit Index AI Scam?
The crooks who are responsible for orchestrating this latest farce are affiliate networks and media agencies. This is not really surprising given the fact that these people are the culprits behind every other scam we exposed previously. They are doing it in order to receive referral commissions from unlicensed offshore CFD brokers like CoinX Central. Every time you invest they collect money according to agreements that have been previously prepared by both sides. This type of deal is very common in the gambling and Forex niche. It is usually referred to as a revenue or profit sharing scheme.
Originally this Bit Index AI review was prompted after we received multiple complaints from some of our members. In their emails they told us that after investing money it was impossible to generate income or withdraw funds. As a result we decided to conduct this investigation about the Bit Index AI scam and warn our readers about this new and fraudulent signals app.
So, if you feel compelled to try out this latest hoax, make sure to take a minute and read our detailed Bit Index AI review. There are about 8 fake review websites on the first page of Google, and they are saying this platform is legit. It’s always smart to get diverging opinions, especially when it comes to investment opportunities.
Official Website, Members Area, and Login Page: We found 8 (Eight) websites on Google. They all claim to be the official Bit Index AI App. Without exception, they are all scam!
- 1 Scam Evidence
- 2 Bit Index AI Fake Testimonials
- 3 Fake Bit Index AI Reviews
- 4 Bit Index AI Fake News
- 5 What Is Bit Index AI, Who Are The People Behind It, And How Does It Work?
- 6 Bit Index AI Review, Powerful Trading Tool Or Defective App?
- 7 Our £250 Deposit Test: Experience and Impressions
- 8 No Backtesting Or Strategies
- 9 Bit Index AI: Different Design Same Scheme
- 10 Bit Index AI Security. Is This Trading App Really Safe?
- 11 Bit Index AI: A Cryptic Sales Pitch And Faulty Software
- 12 Bit Index AI Leverage
- 13 Does This App Work With Any Of The Exchanges?
- 14 Bit Index AI Deposits And Withdrawals (Cashier)
- 15 Legal Or Regulatory Issues
- 16 Confidentiality of Personal Information
- 17 Bit Index AI TrustPilot, Reddit, Social Media, and Various Forums
- 18 Bit Index AI Pros And Cons
- 19 Incentives And Bonus Plans
- 20 Bit Index AI FAQ
- 21 Taxes Related To Bit Index AI
- 22 Tested Systems That Work
- 23 Bit Index AI Review. Final Conclusions, And Recommendations
Here we can see the primary sales page and registration area of the Bit Index AI website. Please take a quick look at the image of the presenter who is located at the center of the web page. If his face looks familiar its with good reason. His name is Jake Tapper, and he is a well-known CNN journalist.
And here we can see the same individual, with one exception. He is being used to promote other scams. In other words, we can conclude with a 100% degree of certainty that Bit Index AI is a cloned website. Minor deviations in design and layouts have been made, but the method of operation is plain to see.
Bit Index AI Fake Testimonials
Moving along, here we have the Bit Index AI testimonial section. Again, it is copied and recycled in a very mechanical yet highly thought-out process. Honestly, fake testimonials are basically an open invitation for websites like ours since it makes exposing the facts much easier.
Fake Bit Index AI Reviews
We spotted a total of 10 fake Bit Index AI reviews including sponsored articles on media outlets. These websites place disclaimers all over their site and advise their viewers to start out by making small investment. However this is a very sneaky way to project a sense of sincerity. In fact, you are being encouraged to invest with an illegal trading app as we shall prove.
Here are a few excerpts taken from various review websites we were able to find.
- A “cutting-edge technology” that trades on your behalf and generates winning trades.
- Here’s a new custom trading app that utilizes “crypto price charts” to execute trades on auto-pilot.
- Check out our browser-based software. It operates independently and has a “99.8%” success rate.
- Our highly advanced artificial intelligence app is available for a “limited time”.
Please be advised: Any website that only whitelists the services which are reviewed in it is completely biased. It’s simply not possible that all trading apps generate consistent wins.
Bit Index AI Fake News
We have seen two fake news articles which use deceptive or misleading advertising techniques. In both cases Elon Musk and Amazon Chairman Jeff Bezos were used as fake celebrity endorsements.
We also know that there are other high-profile individuals like Ryan Reynolds, Carrie Bickmore, Pierre Poilievre, Markus Lanz, Sarah Harris, Richard Branson, Andrew Forrest, Nick Kyrgios, Hugh Bonneville, Arlene Dickinson, Kevin O’Leary, Waleed Aly, John Farnham, Holly Willoughby, Anthony Albanese, Jessie J, Sofie Svensson, Bill Gates, and Martin Lewis who are also being used for the same purpose (see image above). This platform is also currently being used in conjunction with additional marketing campaigns associated with the Dragon’s Den, Shark Tank, Tagesschau, Forbes, Fox News, RTL, BBC, and the morning show in Australia as well as Canada. We shall continue to monitor this latest development and update our Bit Index AI review accordingly.
What Is Bit Index AI, Who Are The People Behind It, And How Does It Work?
Bit Index AI is marketed as a highly versatile and accurate trading robot. This app reportedly uses an advanced set of algorithms which allow it to adapt to volatile market movements. In the Bit Index AI website, it is said that this signals platform scans the cryptocurrency market and “exploits” a variety of money-making opportunities. We don’t really know who is behind it.
Bit Index AI Review, Powerful Trading Tool Or Defective App?
New members wanting to join the Bit Index AI scam will undergo a stressful initial screening process. This is done almost immediately, since the brokers want to know if you have enough money and are willing to invest more. Newly signed members who demonstrate unwillingness to take future risks will most likely receive the cold shoulder treatment. This is because the brokers stand squarely at the center of the scam. If their sales agents decide that there is no way to generate repeat deposits from new customers, chances are they will be rejected.
There Can Be Only One! 🏆: You can’t have more than 1 official website. Multiple websites that claim to be “official” are a strong indication of a scam.
To make matters worse, we ran an identity check on the Bit Index AI URL. Apparently it is just a few months old. The same is true for the rest of the sites who claim to be “official”. This validates our assertion that every website endorsing this platform is either unprofessional or has an alternative agenda. That’s because It’s simply not possible for a website which has been around for a few months to perform as advertised.
Our £250 Deposit Test: Experience and Impressions
First of all we were not able to gain access to any type of trading dashboard after depositing. Secondly, we were not allowed to fund our account using a credit card. Our researchers were referred to a third party crypto-wallet where we had to use a QR scan in order to achieve a minimal balance. It seems we were denied the possibility of using our credit card intentionally. This was done in order to keep the transaction anonymous, but more importantly non-refundable.
After a bit of time passed and right when we tried to navigate the waters a new account manager was introduced to us. His name was Dennis Taam, and he was supposed to help us. But Taam was only interested in selling us a unique strategy in order to have us re-invest. Once we figured out that this was his end game, we asked for another manager. This only seemed to exacerbate the already tense situation.
There are many fake review websites endorsing Bit Index AI. Don’t accept anything at face value. Conducting proper research is essential when it comes to investing.
The next person who called us was especially rude and impatient. We were told that unless we invest an additional £7,000 no assistance will be offered. In other words, the scammers were turning up the heat and using passive-aggressive sales tactics which are known to be highly effective.
However, none of that worked and after a few days we started receiving incessant phone calls from unknown phone numbers. It seems our information was passed on to other people who tried to sell us other types of signal apps and bots. Suffice it to say, our initial investment was gone, and we lost all of our money. At a certain point no one answered our emails and we were basically abandoned when the scammers realized they would not be able to get more money from us.
No Backtesting Or Strategies
In most cases when you try out a new system certain strategies are built into the app. All you have to do is login and activate them. There are also a variety of indicators such as MACD or Parabolic SAR which are made available. We were not able to find any of these. Additionally, no information in regards to back-testing, comparative data, or basic types of risk management features was seen.
Bit Index AI: Different Design Same Scheme
Here is another variant of the Bit Index AI website. We saw around six types of sites, and they are all equally appalling. If anyone tries to tell you that the other website is fake and they endorse the “real one”, simply refer them to this review and wait for their response.
Bit Index AI Security. Is This Trading App Really Safe?
Despite the McAfee and Norton Secured logos you may see, these types of websites are far from safe. In fact, we ran a virus check and one of the sites was diagnosed with PUPs or potentially unwanted programs. Having a padlock on your site and an AES 256-bit encryption key is simply not enough these days. In fact, scammers exploit the fact that these sites look secure and in that way defraud victims more effectively.
We also checked the firewall settings for this bogus app and found out that there is a breach. We actually messaged these crooks and were told that they are in the process of debugging a coding error. According to Enisa, which is the European Agency for Cybersecurity, any software has to undergo a Regulation (EU) 2019/881 approval process. This also ties in to issues related to PCI compliance and storage of personal financial data on encrypted servers.
Bit Index AI: A Cryptic Sales Pitch And Faulty Software
Every software must have a clear and unique differentiating quality which sets it apart from the rest. Bit Index AI does not offer clarity or a simple explanation regarding its perceived benefits. We had to play the guessing game here, given the fact that the first thing one sees are the words “Bit Index AI is making people rich”. Our researchers believe this vagueness is intentional and designed in a way which appeals to amateur traders who are unfamiliar with the financial markets. Simply put, we don’t perceive any benefits only drawbacks for new members wishing to join this program.
Bit Index AI Leverage
A leverage of 6,000:1 is made available to any new depositing member. This is really an astronomical number, and if you know anything about leverage you will probably end up not accepting it. That’s because leverage is in many ways like a loan. You need to pay it back irrespective of your balance. That means if you take the leverage and end up losing it along with your balance you may end up owing more than you can afford to. People have actually gone bankrupt and lost their life savings because of leverage.
Does This App Work With Any Of The Exchanges?
No, this software is not compatible with any of the major coin exchanges such as Binance, Coinbase, or FTX. We emailed the support staff at the exchanges and received a message saying it is a scam and to be very careful. If you happen to read an article which claims otherwise you should ignore it and seek a more trusted source of information.
|Bit Index AI||Compared To Other Apps|
|Licensed / Regulated||This app is totally illegal.|
|Dashboard Functionality||There is no dashboard.|
|Success Ratio||About 1% Successful Trades|
|Customer Service||Don't bother. They never answer.|
|Minimum Deposit||The usual. €/$/£250|
Bit Index AI Deposits And Withdrawals (Cashier)
Similar to other scams we have exposed here in the past, depositing is a very simple process. But wait and see what happens when you try cashing out. It’s practically impossible to do so. We attempted to make a withdrawal but were stonewalled and bounced around so many times that we simply gave up.
Legal Or Regulatory Issues
Bit Index AI is an illegal trading software. We are waiting for the regulating authorities to come out with a warning. Until that is done many victims will end up losing their money, and in many cases more than they can afford to. Additionally, we were not able to find any patent or any kind of certification by regulatory entities such as CySec or BaFin.
Confidentiality of Personal Information
These crooks could care less about keeping your personal information secure. In fact, we can guarantee that your email and phone number will be passed on and resold to third parties. There is a deluge of information regarding privacy matters in the European Union. Feel free to read about it in Document 32018R1725.
ASIC in Australia also has very strict policies in place regarding disclosure of personal information. Feel free to read about the Corporations Act 2001. There is even a separate section about managed investment schemes and off-market bids which can be seen here.
Bit Index AI TrustPilot, Reddit, Social Media, and Various Forums
We have already seen a few fake profiles on social media such as Facebook. However, the worst is on TrustPilot. Fake profiles on TrustPilot are being generated by a thieving London-based company which was exposed some time ago on a website named OCCRP. We encourage you to think outside of the box, and seek legitimate review websites only.
Bit Index AI Pros And Cons
Our staff of researchers decided to draft a small table which outlines the main pros and cons of this so-called “trading platform. We tried to make it very condensed and concise as you can see below.
In our opinion, there are absolutely no pros or potential benefits for anyone who chooses to join this program. New users can expect to feel utter frustration and regret. Some members have told us they are also angry at these crooks. That is the reason we decided to make their voices heard and published our review.
Incentives And Bonus Plans
Bit Index AI sales reps offer new customers very attractive bonus plans. But these bonuses are not free. New traders accepting bonuses will be required to trade 30 times their deposit plus bonus in order to withdraw their winnings. We encourage you to refrain from accepting any types of perks, bonuses, or incentives. You will only end up losing more money then you originally intended to risk.
Bit Index AI FAQ
What Is Bit Index AI?
Index AI is supposed to be a trading robot for cryptocurrencies such as BTC and ETH. However, we found out that it is just a website that offers no real software.
Can I Use Bit Index AI To Generate Income?
Absolutely not! The people who make money from this software are the promoters and brokers. You are the one generating the money for them not for yourself!
Why Are Other Websites Claiming That Bit Index AI Is Legitimate?
Certain website choose to monetize in a way which is beneficial for them but not their viewers. We try to be more fair and believe in building relationships with our viewers and subscribers.
Someone On Facebook Introduced Me To Bit Index AI. Is That Normal?
Actually Facebook is very commonly used by scammers with fake profiles to promote their schemes. In most cases the true identity is hidden to avoid legal prosecution.
I Lost Over £3500. Is There Any Way To Get It Back?
In most cases its a lost cause. Try to work through your bank and if that doesn't work start making threats about asking for a refund through your credit card company. Wealth retrieval companies are worthless since they demand payment upfront and never guarantee results.
Taxes Related To Bit Index AI
Rest assured, you will have no issues or outstanding debt incurred as a result of unpaid taxes. That’s because governments only tax profits, and we already know that you will only lose money. So really, there is no room for concern here.
Tested Systems That Work
Searching for a genuine trading app? We have done all the research for you! Our recommended section features a short list of trading apps that generate profits consistently. We know this to be true because we risk our own money before recommending anything to our members and subscribers.
Bit Index AI Review. Final Conclusions, And Recommendations
Here is our verdict! The Bit Index AI scam is not a trustworthy investment platform. The sole purpose of this hideous get-rich-quick scheme is to defraud investors. Our research staff has provided more than enough proof in order to validate our claims. Still, if you require additional information about this blacklisted signals app just message us. We typically respond in a period of 24 hours.