Last Updated on March 14, 2021 by Stephan Lindburg
Welcome to our detailed Bitcoin Spire review. Bitcoin Spire is advertised as an automated trading app which “analyses global financial markets” and provides accurate signals. But is that really the truth or is Bitcoin Spire scam software? OK so just between us, if there is a little voice inside your head telling you to think twice before joining you should definitely listen to it. Now, originally we heard about Bitcoin Spire after receiving complaints from one of our viewers in regards to this new Bitcoin robot which was supposed to help them generate money in passive mode. However, after the initial registration this person started to realize what he was getting himself into when the phone calls started arriving and would not stop. As is usually the case with these types of get-rich-quick schemes, there are a number of affiliate networks that are orchestrating this latest sham. Affiliates are in essence online promoters which get paid referral fees every time a new investor signs up for an offer through their website or advertisement. This type of compensatory scheme is usually referred to as a profit or revenue share model. This means that the broker and promoter split the revenues which are derived from paying clients. Only in this case the client’s losses are the brokers profit, hence the conflict of interest.
Bitcoin Spire Scam Brokers: When we registered to conduct our £250 deposit test, the broker which was allocated to us was called “Bit Markets”, and it has a registered business address in St. Vincent And the Grenadines. This jurisdiction is recognized by law enforcement agencies as a tax haven, and known to be used by criminals to launder money gained from illegal activities. Needless to say, our money was lost in a matter of minutes.
Blacklisted Crypto Scam Exposed: Bitcoin Spire is merely the latest in a series of cloned websites which has recently surfaced. The sole purpose of this fraudulent trading software is to trap unsuspecting opportunity-seekers who are merely looking to generate some income trading Bitcoin online. Our staff of expert researchers was able to produce conclusive proof of scam and malicious foul play. So, if you are contemplating or considering investing through this latest bogus trading platform, we invite you to take a minute and read our independent Bitcoin Spire review and investigation.
Official Website, Login Page, and Members Area: the-bitcoinspire(dot)com
Proof of Scam:
Here we can see the Bitcoin Spire main registration area which includes the form and sales video. We ask you to look at the image which is located at the center, as well as the text which says “start trading the global financial markets”.
Now please take a look at the images below. You will see 3 facsimile copies of the same website, and if you take a really closer look you can see with your own eyes that the only thing which has changed is the logo and name. We have marked the relevant sections in red for you so you can see that the scammers even copied the same promotional content. This type of fraudulent activity is usually referred to as a cookie-cutter operation or production line scam. There are many like it these days as we have mentioned previously, and trend is only growing in popularity since it is easy and fast to reproduce as well as launch.
Bitcoin Spire Signals
Members registering for this service will eventually end up looking at a signals dashboard like the one below. This signals dashboard is called “algo machine”, and it integrates with dirty websites like Bitcoin Spire. This is also a cookie cutter web-app which is used in conjunction with hundreds of phony websites. Here too the only thing which changes is the logo and color scheme, but the rest remains the same. In some cases there is no software at all, and this may be due to a variety of issues. Sometimes it has to do with technical constraints such as pop-up blockers which prevent the signals from appearing, but in many cases brokers are simply asking promoters to refrain from providing any software at all. So what users get is a lot of hype and fake claims but no software at all.
Technically speaking you can see that the signals panel has an auto-trade option, and a chart which let’s you see the investment amount, direction, asset name, opening price, and stop loss rates. In a perfect world this information would be very helpful, but realistically speaking this data is totally useless since it is simply random numbers which are selected according to what the software operators decide.
Bitcoin Spire Signals Demo Mode
One version of the Bitcoin Spire software does offer demo, but that is probably the most deceptive part of this scheme. That’s because the scammers let you win on demo, but when it comes to real money or live mode things tend to go down-hill very quickly. We are constantly receiving complaints about this criminal-like activity, so please make a note of this any time someone offers you access to demo-trading.
Fake Bitcoin Spire Reviews
Above you can see an image of a fake review website which is clearly endorsing Bitcoin Spire. We have made reference to the section which says it “serves both new and seasoned traders”, but when push comes to shove an experienced traders will never opt for a system like Bitcoin Spire. The reason these websites are endorsing fraudulent software has to do with the fact that they receive referral fees for customers who register from affiliate links on their sites. Now this isn’t necessarily something bad if the service or product which is being promoted actually performs as advertised, but this is definitely not the case here.
Bitcoin Spire Fake News
We have already received reports of a few fake celebrity-based advertisements which are being published on various search engines as well as social media. Fake celebrity endorsements are very popular with scammers since it’s an easy way for them to attract uneducated or ill-informed victims looking to cash in on the latest Bitcoin hype.
It would be prudent to check matters such as these with us first before you take out a new system for a “test-drive”. We are constantly thanked for helping potential victims avoid getting ripped off.
What Is Bitcoin Spire and How Does It Work?
The Bitcoin Spire Scam is touted as an automated trading software which uses advanced technical analysis in order to identify and execute profitable trades. There is also some talk about “Flexible Autonomy” and ability to customize the app settings so it is able to gain “real-time market insights”.
Bitcoin Spire Features, Settings, and Product Specifications
As we have mentioned, there are multiple versions of the Bitcoin Spire software. Some have access to a signals panel, while others simply sell you lies and don’t even bother providing actual software. Members who register for the version with the signals panel will gain access to a seemingly legitimate looking software. The charts offer custom indicators such as stochastic or MACD, and there is also a feature which allows you to cap your trade amount. This is all very convincing but unfortunately none of it works.
Bitcoin Spire Review, Amateur Traders Targeted!
The Bitcoin Spire scam is a copied website designed to attract viewers into registering with offshore CFD (contract for difference) brokers. There are many like it, and this method of operation is well-known to us. Members registering for this service are led to think or believe it is a genuine trading platform which can actually help them generate passive income. But this a far cry from the truth, and after members make their initial investment things start escalating very quickly. Specifically where the Bitcoin Spire scam is concerned, we received 3 separate complaints about inability to withdraw existing funds and defective software which executes losing trades. This comes as no surprise to us and we are 100% convinced that if you try this software out for yourself you will have the unique displeasure of experiencing what we had to go through.
Is Bitcoin Spire Safe To Use?
This really depends how you define safe. We don’t think your computer will be hacked, but you will definitely be subject to a barrage of phone calls from very persistent sales representatives. You will also start receiving unsolicited email for different offers you never registered for or even heard about. But if you haven’t provided your credit card details that is pretty much it! If you have actually funded a trading account and had a change of heart, we recommend you contact us and explain the details of the event since each case is dependent on different factors and outcomes may vary.
Bitcoin Spire Deposits and Withdrawals
Cashing out and depositing is done through the cashier section of the broker software. Brokers will be very happy to see you top-up your account with more money, but when its time to withdraw they will use every trick in the book to try and dissuade you from doing so. Stall tactics and difficulties in communication are just some of the methods scamming brokers use in order to wear out members who wish to withdraw funds.
When we tried to message the Bitcoin Spire customer service desk the email immediately bounced. This is really a strong indication to us that there is no one who is looking after clients and taking care of their needs.
No Back-Testing Or Certifications
Another thing that we found to be missing was back-testing or any kind of performance measurements. When we don’t see comparative stats we start to get nervous, and Bitcoin Spire is no exception. Additionally, we could not find any type of authorizations or certifications which may help shed light on the legitimacy of this fake app. Software which is licensed in the European Union and employs open source technology for example usually carries an EUPL or F/OSS seal and referred to as “OSI certified“. If you are looking for Australian certification, it is called GNU or Lesser General Public License. There are other licensing entities as well as third party auditing procedures which are at place in order to check customer privacy rights and protection of information. Of course, we could not find any of those listed on the site, and we even combed through the whole terms and conditions section.
Alternative Systems That Work
Interestingly enough, there are a few select systems out there that actually deliver as promised! Yes, it’s true that most apps turn out to be complete flops, but once in a while a new software is launched which catches our attention. Once that happens we start testing it and invest our own money. If it performs consistently we add it to our short list of recommended systems.
Bitcoin Spire Review, Summary, And Conclusions
Bitcoin Spire is a scam – Period. There is no room for misinterpretation, and don’t let anyone try to convince you that there is another version of the software which is legit. These are all deliberate lies intended to convince opportunity seekers to invest with unlicensed offshore CFD brokers who could care less about your financial distress or personal asperations. If you have been exposed to a fake advertisement or alternatively believe you are being led by the nose and intentionally misinformed about the potential benefits of joining this bogus signals app, we encourage you to take a step back and consider your options. Should you have any questions or would like additional information about the Bitcoin Spire scam, please make sure to message us through our contact page or social media.