Fact CheckedLast Updated on January 1, 2023 by Stephan Lindburg
Are you searching the internet for a detailed Bitcoin Formula Review and investigation? Do you believe this signals app looks a bit suspicious and believe that the Bitcoin Formula is a SCAM which should really be blacklisted? If so, then you have reached the right website. Here’s a little fact (and a huge problem). The Bitcoin Formula SCAM is a complete replica of the Bitcoin Trader software which we blacklisted here at Scam Crypto Robots. Here’s another well-known fact; Bitcoin Trader is directly responsible for defrauding hundreds of unsuspecting victims and opportunity seekers who simply searched the internet for a legitimate and genuine automated trading app.
While this may seem unrelated, we know that this type of copycat scam is usually executed by professional affiliate marketing con artists who want to replicate their success at scamming people without having to do much work. The way the scam works is through a referral program, where the online promoters bait their victims (that’s you) and get them signed up with unlicensed offshore brokers (in our case it was Universe Markets).
Once the real-money trading account is funded, the promoters get a kickback in the form of commission paychecks which are used to line their pockets and fund their dirty operation. For those of you who would like to know if Bitcoin Formula is a Ponzi Scheme or a HYIP, the answer is NO in both cases. This is a textbook example of a get-rich-quick Forex scam, and we know this to be the truth because of the feedback we received from our members in the form of complaints. To be quite honest, the Bitcoin Formula scam is not a fake trading robot. Nor is it a manual signals solution, although the sales page clearly mentions that there is “no trading app in the world that performs at the 99.4% level of accuracy” (if you believe that).
Firstly its a lie because if you reach this type of success ratio, you will turn into a millionaire in a month and we all know this will not happen. Secondly, when we completed the registration process we expected to see some kind of trading panel, but this was not the case. Instead we signed of for an offshore broker without even being notified about it and that made us angry (more like furious). Still don’t believe us and would like to try out Bitcoin Formula?
In that case we highly recommend you continue reading our Bitcoin Formula review before you signup for this program, because our findings prove without a shadow of a doubt that Bitcoin Formula is a verified investment SCAM.
Official Website, Login Page, and Members Area: This website is spoofed and keeps changing
Evidence of SCAM
Contents
Here is the Bitcoin Formula sales page, and right next to it you will see the Bitcoin Trader SCAM sales page. Its quite plain to see that these systems are complete clones, and quite frankly there is no system at all. It’s just a graphic design coupled with a sales pitch, and we will explain this in detail as we progress with our review.
Moving along, here is the testimonial section of the Bitcoin Formula SCAM. It’s quite plain to see that the testimonials are fake image bank photos, and while some people have already begun to accept this as a standard norm we DO NOT condone or accept these types of deceptive advertising practices.
Finally, we get to the broker section. This time our account was linked to a broker named Universe Markets, which is not only unregulated but also has a terrible reputation for illegally withholding funds. On top of everything else, our account was locked and we could not get access to the software or any type of demo account in order to at least get a sense of how the app even looks like. We were explicitly told by the broker that in order to gain access to the nonexistent system we had to fund a real-money trading account and that is NOT acceptable.
Bitcoin Formula Fake News
The Bitcoin Formula is currently being promoted via fake news advertisements similar to the ones you can see below. In this example you can see Shark Tank participants, but there are also Dragons Den actors who are being used for this purpose. Viewers exposed to this type of advertisement are baited into clicking the links inside and then are redirected to the Bitcoin Formula sales page.
Bitcoin Formula Review – Getting Rich with Bitcoin Formula Or Scam?
“Bitcoin is making people rich”, and you can become the next millionaire. That is how the presentation begins, and they continue with the hype about how its time to change your life and start making money. Then we have the same copy job about laser accurate performance, superior technology, and an award winning trading app (which is really not an app at all). And of course, it performs performs “at the 99.4% level of accuracy”, but the software is invisible. Huh..
Bitcoin Formula is an old and antiquated make-money scheme. It has taken many forms and formats. All formats have been deemed as fraudulent by our research staff. Just avoid it!
Does that little insignificant fact get you to scratch your head? It damn well should! They are selling you bottled air wrapped up to look like gold and that just the start of it. At the end of the presentation they have the usual three steps about signing up, funding the account, and starting to profit.
Come to think of it they are correct! Someone is definitely going to make a profit if you decide to join this filthy program, only it wont be you. It WILL be the online promoters and filthy offshore brokers who are behind this thieving get-rich-quick scam and that’s the real secret.
Does Joining Bitcoin Formula Cost Anything?
Sure does! It will cost you at least $250 to join this fake app and that money will be stolen by the broker which has been automatically assigned to you which may (or may not) be regulated.
Fake Bitcoin Formula Reviews
We actually saw a couple of those and we know the fake reviews sites which are endorsing this fraudulent piece of crap in exchange for affiliate commissions in the form of bribes. We urge you to act with restraint and put your thinking hat on.
What’s Really Happening Here?
You probably signed of for a certain offer and started getting spammed, or alternatively clicked on a fake add campaign on Facebook or just while surfing the web. After signing up everything went downhill and you started getting ripped off by aggressive sales people with heavy accents. The media hype coupled with your financial distress caused you to risk your money, but instead of investing in the right system you ended losing your money and now you have to live with the consequences.
The first alarm bell which should have started to ring in your head has to do with exaggerated claims of easy money, after that you should have known that the inflated bank accounts and forged testimonials are highly indicative of a get-rich-quick scheme. We all know what happens with these systems, you get scammed and lose your money.
What To Choose Instead?
If you are now looking for a real alternative then you should take a look at our short list of recommended systems. We have gone to great lengths in order to provide you with legitimate trading tools which produce consistent results over time.
Bitcoin Formula Review Summary and Conclusions
The Bitcoin Formula SCAM software is a copied from the Bitcoin Trader and designed for the sole purpose of defrauding unsuspecting victims looking to cash in on a genuine crypto app. If you have invested in this BLACKLISTED software, then you should NOT re-invest, and make sure to check your credit card statement like a hawk to see if you were not overcharged by your broker. If for some reason you continue to get badgered and called during late-night hours by persistent sales reps posing as legitimate brokers, simply tell them you are broke and have no money. They will just leave you and move on to their next victim as that is what they have been trained to do. If you have any questions or want additional information simply message us via our YouTube Channel and Facebook Group
I signed up with what I was sure was BitcoinCompass but find I am dealing with a uk mob registered in Gibraltar called Click2sell.Do you know anything about them and if they are legit.It seems my investment of $307 is for banner adds and I doubt there will be much return on them if they exist.Also this company keeps 15percent commission on any profits. I think I have been scammed.My name is John and I am Australian.Thank you for your review which I read with more than mere interest.
Hi John,Click2Sell is what is commonly referred to as a “biz-op” or business opportunity scam. Obviously you were enticed or baited by some kind of get-rich-quick scheme and for some reason were redirected to this thieving software. Unfortunately that money is gone, you will never see it again. As for the commission they don’t need 15 percent since they keep all of it and you get a big fat zero. You best option is to move on and consider this as lesson learned. Thanks, S