Last Updated on October 10, 2022 by Stephan Lindburg
Welcome to our Bitcoin Up review and SCAM software investigation. There’s a new scam in town and this time it’s called “Bitcoin Up”. OK so Bitcoin Up is advertised as a kind or Bitcoin trading robot which generates “$1,300 daily” for you on auto-pilot by utilizing an “award-winning” algorithm. But is that really the truth or are we being tricked once more? Well, as our detailed Bitcoin Up review will prove, this latest bitcoin trading app is nothing more than another recycled get-rich-quick scheme.
We actually stumbled on to this latest piece of trash technology after surfing the internet and searching for a genuine or legit automated trading software. Alas, we had the misfortune of seeing some dubious looking click-bait ads and eventually ended up on the Bitcoin Up scam website. It’s vital you understand that the main conspirators behind this blatant scam are affiliate networks who are operating in tandem with unlicensed offshore Forex and CFD (contract for difference) brokers. CFD’s are derivatives which can be bought and sold based on contract rates, but these promoters are not looking for savvy traders.
In fact, they are deliberately targeting inexperienced or uneducated opportunity seekers who are simply looking for a short-cut and an easy way to generate some passive income online. When we registered to conduct our €250 deposit test, the broker which was assigned to us was “Pro CFD”, which has a registered business address in the UK but does not have the proper legal certification to manage investment portfolios on behalf of clients.
It’s also worth mentioning that we expected to see some kind of trading panel in the form of signals or indicators, but this did not happen. In reality the Bitcoin Up website is a simple landing page with a sales video and lots of hype. When you register for this website you are really registering for a broker or trading platform which is unregulated in most cases.
That means the money goes out of your wallet into the brokers bank and when that happens you can pretty much kiss it goodbye. So if for some unknown reason you feel a sudden urge to invest via the Bitcoin Up scam software, please make sure to take a minute and read our detailed Bitcoin Up review because we exposed this latest crypto scam and the crooks behind it!
Official Website, Login Page, and Members Area: We identified no less than 8 (eight) versions of this website and they are all claiming to be the “official” app.
Check out the image below. It is a screenshot of the Bitcoin Up registration area with Jake Tapper from CNN. If you take a closer look you will see that they are saying “you can become the next millionaire” and the talk about what Bill Gates and Eric Schmidt have to say.
And here we have the same exact Jake Tapper talking about “no banks and no fees”, only this time we can see him saying it in 6 other cloned and documented scams such as Bitcoin Rush and Crypto Revolt.
Bitcoin Up Review: An Exclusive Group Reserved For Losers!
- 1 Bitcoin Up Review: An Exclusive Group Reserved For Losers!
- 2 Fake Bitcoin Up Reviews – Caveat Lector (Reader Beware)
- 3 Bitcoin Up Fake News (Updated and Monitored Daily)
- 4 What is Bitcoin Up And How Does It Work?
- 5 Bitcoin Up Review 2022: Live The Laptop Lifestyle Is It Just Another Scam?
- 6 Seven Official Bitcoin Up Websites, One Confirmed Crypto Scam!
- 7 Bitcoin Up Regulation (Monitored On A Regular Basis)
- 8 Is It Free?
- 9 Crypto CFD’s, What Are They?
- 10 A Few Viable Alternatives
When you scroll down the Bitcoin Up sales page you see the section about “getting rich”. We want you to refer to the part where they talk about laser-accurate performance, superior technology, and an award-winning app.
And right here we have the same exact sales pitch taken from 4 other websites such as Crypto Engine as well as other scams we exposed. If you enlarge the image you will see that the content has been copied verbatim and even the iconography is the same. If you are not sure what this means we will explain. It means that the Bitcoin Up scam is a kind of cookie-cutter or template website which has been copied, duplicated, and adapted to suit the needs of the promoters who are orchestrating this ruse.
Fake Bitcoin Up Reviews – Caveat Lector (Reader Beware)
We have spotted multiple fake Bitcoin Up reviews, some of which should really be viewed as sponsored advertisements or paid press releases (see red arrows in the image below). One website which is writing about the Bitcoin Up scam is a well known and reputable industry-news website. This explains why the review was not classified as a real or authentic evaluation of the Bitcoin Up software, rather a type of promotion which is not to be taken seriously. We also saw fake reviews on Reddit, spam on TrustPilot, and loads of fake testimonials on various forums.
Bitcoin Up Fake News (Updated and Monitored Daily)
Scammers understand how to use mass media channels to their advantage and exploit celebrities or high-profile individuals for endorsement purposes. Needless to say these endorsements are fake, but it seems they are very effective at baiting people so this trend will not abate any time soon. Celebrities which are commonly associated with fake news are Gordon Ramsay, Dick Smith, Elon Musk, Jim Davidson, Shark Tank, Martin Lewis, This Morning Show with Holly Will Willoughby and Phil Schofield, Maisie Williams, Paul Mccartney, Justin Trudeau, Michael D. Higgins, Akshay Phillips (Ruparelia), Harry and Meghan, the Dragons’ Den, Rob Brydon, Eric Bana, Gunther Jauch, Kim Bodnia, Jeremy Clarkson, Lim Guan Eng, and many more.
Bitcoin Up is using clickbait ads to trap you. If anything seems insincere or just shady, avoid clicking the advertisements and message us for clarifications.
Recently the scammers have grown more sophisticated and are now using a more generic message about how a “British Man generates $500,000 Via Revolutionary Trading Platform”. This sales pitch has been very cleverly adapted to lock-downs related to the Covid 19 pandemic, and according to it people are now staying at home and making millions trading with Bitcoin Up. Needless to say, this could not be further from the truth.
What is Bitcoin Up And How Does It Work?
Bitcoin Up is advertised as a kind of automated trading app (crypto robot) which executes trades on auto-pilot without any form of human intervention. They also mention an exclusive club reserved for new bitcoin millionaires as well as “precise and accurate hands-free trading” which is powered by an advanced algorithm. That’s about it! There is no serious discussion about the success ratio or back-testing protocols.
Bitcoin Up Review 2022: Live The Laptop Lifestyle Is It Just Another Scam?
So obviously just by reading the first sections of our detailed Bitcoin Up review, it’s quite plain to understand that we are dealing with another confirmed crypto scam. In this specific case we do see a slight deviation from the original time leap sales pitch where they usually talk about how their software is 0.01 seconds faster than the market rates. However, in the FAQ section they mention that the app is “powered by an innovative algorithm that wins trades with 99.4% accuracy”. That’s pretty much it, and this is exactly the root of the problem.
One way to spot a scammer is to see is they are offering you something which generates illogical returns on your investment. Anything over 90% ITM ratio is a huge red flag.
We don’t have any testimonials (neither fake nor real), there is no mention or reference to the engine of the software and what type of technology powers it. We don’t see any information about the brokers which are associated with the software, and the “contact us” link doesn’t work, it just opens up the registration box. Additionally we don’t know who is behind this flop, or where they are situated. In short, Bitcoin Up is completely anonymous which is the ultimate red flag, so please don’t join!
Seven Official Bitcoin Up Websites, One Confirmed Crypto Scam!
Our research staff was able to identify at seven versions of the Bitcoin Up software (there are more), and they are all claiming to be the official website. We have attached a screenshot below for you as a point of reference so you could actually see how this looks like on the search engine.
This is happening because each of these websites belongs to different affiliate networks, and they are all trying to grab your attention by trying to convince you to join the scam through their registration forms. Each time you enter your details and invest through their site, the network receives referral commission as we have previously mentioned.
Don’t let yourself be fooled by tricksters and con artists who would have you believe they are endorsing the “real” Bitcoin Up website. This is a very common ploy which is used by promoters and swindlers. Do your research, we are here to assist as well!
In reality all variants of the websites will eventually lead you to the final destination, which is a CFD broker. This is extremely problematic because most customers are not even aware of what is happening behind the scenes or have the slightest clue about online trading or Forex.
Bitcoin Up Regulation (Monitored On A Regular Basis)
This section is dedicated to investor warnings which are posted by various regulatory websites such as the FCA in the UK or ASIC in Australia. The FCA has recently posted a warning in their website which is alerting UK citizens that Bitcoin Up belongs to a firm which is “providing financial services in the UK without authorization” (see screenshot below). Bitcoin Up is not a new scheme and has managed to catch the attention of the British regulating entities. We are 100% convinced that this trend will continue and this fraudulent trading software will be blacklisted by other regulatory entities like ConSob or BaFin in Germany.
When it does we will update this section of our review accordingly. It’s worth noting that the FCA in the United Kingdom has recently issued a staunch warning and various restrictions about the sale, marketing, and distribution of CFD’s and/or CFD-related products. Specific reference was given to limit of leverage, the closing of positions, and “standardised” risk warning which is designed to stop excessive loss. These restrictions were placed at the request of Christopher Woolard, who is the Executive Director of Strategy & Competition at the FCA. If you are a UK resident and require clarifications about various scams such as Bitcoin Up, feel free to check the FCA website or simply leave a message below.
Is It Free?
No, it isn’t. Get ready to part with at least €250, and sometimes even twice as much. This money will be charged to your credit card by offshore Forex brokers who don’t really care about your financial well-being and will rip you off any chance they get.
Crypto CFD’s, What Are They?
CFD’s or contracts for difference are derivatives or contract that derive value based on the performance of an underlying asset such as an index, commodity, or currency pair (i.e BTC/USD). When you purchase a CFD you basically buy a contract which is saying I believe BTC/USD will expire above or below a resistance line or market rate. If you you speculate correctly the profit (or loss) is yours based on the margin. Trading CFDs can be very lucrative, but also significantly risky. The problem with scams such as Bitcoin Up is that they don’t talk about the risk, only the potential benefits.
A Few Viable Alternatives
Our research staff constantly sniffs around and searches the internet for legit trading systems. Once we identify a software which has potential we add it to our recommended systems section after it passes our tests and generates consistent income. So go ahead, check it out!
Bitcoin Up Review Summary, Conclusion, and Recommendations
We are blacklisting the Bitcoin Up scam software and giving it two thumbs down! We could not find a shred of credible information which was provided to us on the Bitcoin Up sales page and as we expected, our €250 investment went down the drain and evaporated in a matter of minutes. After 10 minutes we received about a dozen phone calls from different phone numbers in Europe, so eventually we answered and told our account manager we have no money. Eventually the phone stopped but we never saw that money again or any winnings. We believe we have produced enough proof of scam in regards to Bitcoin Up, but if you require additional information please feel free to reach out and message us through our contact page or social media.