Last Updated on July 5, 2022 by Stephan Lindburg
Bitprime Gold is advertised as an automated trading platform that helps people invest in the cryptocurrency and gold markets. In the BitPrime Gold website it is mentioned that the app was specifically designed to reduce the influence of market volatility on performance.
The promoters of this latest auto-trader specifically tell us that their thinking computer systems help “offset price swings”. Additionally, as the name may suggest, we are also advised that this robot is supposed to be suitable for both the digital currency as well as the Gold markets.
That being said, we are very doubtful of these claims and as a result have launched our own investigation. Our Bitprime Gold review is clear, transparent, and independent. After examining the facts and reading the complaints we received, we have decided to Blacklist the Bitprime Gold scam. Our research staff would like to take this opportunity and advise our members and viewers to refrain from joining this cloned software and obvious get-rich-quick scheme.
We would also like to extend the sloppy scammers behind this scam a very warm thank you. By being so amateurish we were able to identify your mistakes and methods of operation very quickly. This allowed us to shed light and expose this latest sham in a very graphic and eye-opening manner.
Bitprime Gold Brokers: When we registered to conduct our £250 deposit test, the broker which was allocated to us was named Invest Central. This broker is unlicensed to manage customer portfolios. We checked and found out that Invest Central has a registered business address in Belize. Belize is a jurisdiction that’s very well-known by scammers. Their banks don’t ask a lot of questions and the compliance departments there are virtually non-existent.
Bitprime Gold uses unlicensed offshore brokers. This is a sure way for new members to lose their initial investment. In many cases victims lose much more than they originally intended.
This makes total sense to us since the complaints we received about the Bitprime Gold scam had to do with withdrawal issues. We also received other grievances about rude and incessant phone calls, as well as SPAM email. That’s why we were not surprised in the least bit when our account manager Alex Generro called us and practically begged us to re-invest. He promised us that if we deposit an additional £7000, he would help us quadruple our investment.
Bitprime Gold is the brainchild of crafty affiliate networks and media agencies. They are referring paying customers and in return receive commissions. These commissions can be as much as $1,000 per investor. At these rates, it’s no wonder these webmasters and spammers will say anything in order to convince victims to open their wallets.
We strongly caution you against investing through fake review websites advising you to “start with a small investment”. The Bitprime Gold scam is being promoted very heavily since it is a kind of hybrid between cryptocurrencies and Gold. We believe this is a particularly a devious attempt designed to appeal to viewers who are skeptical about investing with digital currencies and are seeking an alternative.
The crooks who created this scheme understand how to target their victims. This is how they came up with the idea of a new money-making app that can be perceived as more conservative or less risky. But we are on to their little tricks and won’t let them get away with it. The first and most important step about being a successful trader is conducting proper research. Be a smart investor, ask the difficult questions, and if you are not satisfied back away.
Official Bitprime Gold Website, Login Page, and Registration Area: We found 5 websites claiming to be the official app. They are all fraudulent without any exception.
- 1 Scam Evidence
- 2 Bitprime Gold Fake Testimonials
- 3 Fake Bitprime Gold Reviews
- 4 Bitprime Gold Fake News
- 5 What Is Bitprime Gold, Who Is Behind It, And How Does It Work?
- 6 Bitprime Gold Review. Expert Predictions Are Worthless!
- 7 Our £250 Deposit Test: Drawbacks Versus Perceived Benefits
- 8 Different Formats Same Hideous Scam
- 9 Bitprime Gold Security and Safety
- 10 Deceptive Marketing Tactics Used Excessively
- 11 Bitprime Gold Leverage
- 12 CFD’s, Crypto Bans, and Liquidity Pools
- 13 Bitprime Gold Cashier (Deposits and Withdrawals)
- 14 Legal And Regulatory Perspectives
- 15 Bitprime Gold on Trustpilot, Reddit, and Various Forums
- 16 Bonuses and Incentives
- 17 Taxes Related To Bitprime Gold
- 18 Tested Systems That Work
- 19 Bitprime Gold: The Verdict!
OK, so below you can see the Bitprime Gold main website and registration area. If you look closely you can see that they are saying that the trading platform mitigates volatility on “price swings” by using artificial intelligence technology.
However, if you take a look at the image below you can see that they have copied and pasted images from an older scam we exposed here. Notice the red arrow pointing to the cellphone.
Bitprime Gold Fake Testimonials
Below is the testimonial section which is displayed in one of the Bitprime Gold websites (there are many). In it you can see that the scammers are resorting to very sleazy scam tactics. We could not find one authentic testimonial out of the five that are presented to us.
Fake Bitprime Gold Reviews
You won’t have to look hard to find multiple fake Bitprime Gold reviews. These fake review websites are mostly owned and operated by a sleazy London-based agency specializing in promoting crypto scams on search engines. We encourage you to search for genuine review sites.
If you happen to stumble on a portal that’s endorsing all or most of the systems that are being reviewed, you should simply close the tab and move on. It’s not possible that every trading software is legit and generates profits. In fact, the opposite is true. That’s how you can tell the difference.
Bitprime Gold Fake News
Scammers use fake news articles to promote get-rich-quick schemes like Bitprime Gold. We have already spotted a few fake news advertisements on certain clickbait ads. Con artists usually use celebrities like Elon Musk, Amazon Chairman Jeff Bezos, Richard Branson, Martin Lewis, and Holly Willoughby for promotional purposes. We urge you to stay alert and if you feel something isn’t “quite right” just let us know. We will tell you immediately if the article is fake or real.
What Is Bitprime Gold, Who Is Behind It, And How Does It Work?
Bitprime Gold is an automated trading app designed for crypto an gold contracts. It is supposed to minimize the influence of market volatility and price swings with the help of artificial intelligence. There is no mention of the ownership structure or proprietary information. The app is completely anonymous, and that’s a huge red flag. Some websites claim that it was built by computer scientists specializing in advanced derivatives trading. That is a lie which is designed to make the sales pitch more believable.
Bitprime Gold Review. Expert Predictions Are Worthless!
Cryptocurrency price swings, exponential growth, and signals based on large scale data mining. Does all of this make sense to you? Because we are not buying into this pile of rubbish, especially after losing our initial investment. Quite honestly, we are so tired of not seeing any signals dashboard and simply being referred to some criminal broker.
We even measured the expiration times to see what happens when the contracts expire. It seems that the timestamp had a delay of a few seconds, and that was exactly when our money was lost. We even took screen shots of this and timed the buy and sell orders just to be sure. All of this leads us to the inevitable conclusion that the software is rigged, not that we didn’t know.
Our £250 Deposit Test: Drawbacks Versus Perceived Benefits
Right off the bat things seemed a bit strange to us. The whole process was lacking in clarity. One would expect to gain access to some type of dashboard which usually includes a variety of indicators or canned strategies. These technical indicators can be Pivot Points, Stochastic, or Moving Average Convergence and Divergence (MACD) for example. We were not able to access any type of trading dashboard. Instead we found ourselves logged in to a website we were not familiar with and had no understanding of what we had to do.
At this point we started receiving phone calls. The first call arrived from an unlisted number in London. A person by the name of Sean Dennison was at the other end of the line, and he was very upbeat and lively. Sean wanted us to invest an additional £7,000, and said he had a proven money-making strategy that can’t fail.
This sounded very suspicious to us so at that point we made a decision to cash out whatever balance we had and move on. However, when we tried to cash out we were not able to and the money simply returned to our balance. After a while we started receiving additional phone calls, so at some point we just gave up and hung up on the scammers.
Judging by our experience, the only ones who can benefit from the Bitprime Gold scam are the con artists. New customers wanting to invest are only there to lose their money and not to generate profits. This is how the scam works, and we also know that once that money is deposited it’s gone and there is no way to get it back. Wealth recovery “experts” are even bigger scammers. They guarantee nothing and demand payment upfront for their efforts.
Different Formats Same Hideous Scam
If you check the image below you will see a different format of the Bitprime Gold scam. There are about 4 formats with different designs. The fake review websites will use the one which is seen in this section, while other marketers will choose ones with a different design. That’s because each marketer has different requirements, and the networks provide any type of design their affiliates ask for.
Bitprime Gold Security and Safety
Simply having a 128-bit encryption certificate isn’t enough these days. Having a “padlock” on a site doesn’t guarantee that you are registering for a legitimate service. Security is a multi-faceted issue and deserves to be looked at from different angles.
For example, the fact that there is no physical address and the company is not listed anywhere is a problem. We also noticed that some of the Bitprime Gold websites have been flagged as suspicious by McAfee Web Advisor. That means its highly likely that there are some forms of viruses or malware which is associated with the site.
Deceptive Marketing Tactics Used Excessively
We are constantly seeing a combination of deceptive marketing tactics which are used excessively. First we see the classic fake ads with the celebrities boasting about a new way to make people rich. Then we have the fake review websites which use a much more subtle approach that’s designed to attract new visitors in a more clever way. Finally we have social media posts that try to bait unwitting readers.
Bitprime Gold Leverage
A leverage of 6,000:1 is offered to new traders wanting to try their luck with Bitprime Gold. We strongly suggest you refrain from accepting any form of leverage. That’s because leverage is similar to having an overdraft at the bank. You still have to pay it back, regardless of the balance you have. We know that many people have lost their life savings after accepting leverage. If you don’t want to join them we suggest you think twice.
CFD’s, Crypto Bans, and Liquidity Pools
CFD’s or contracts for difference are financial instruments that are very much similar to Forex. However, CFD’s offer a much more diverse assets index and allow you to trade indices, commodities, cryptos, and also stocks. Crypto bans have been implemented in China, Indonesia, Turkey, India, as well as other countries. It’s illegal to buy and sell cryptocurrencies in these countries, however it’s legal to buy crypto contracts.
This leads us to the liquidity pools which are basically a collection of key funds that are locked into smart contracts. You can use smart contracts on the various exchanges in order to trade. Bitprime Gold is not supported by any of the crypto exchanges, and any site claiming otherwise is lying to you.
Bitprime Gold Cashier (Deposits and Withdrawals)
Depositing is a very simple process. Once you are phone-verified the brokers will allow you to fund your trading account. In all cases they will try to convince you to invest larger amounts, but this is not mandatory. In many cases you will be able to fund your account via cryptocurrencies.
Sometimes that is the only option which will be made available to you. Please be advised that unlike Visa or Mastercard digital currencies are not insured by a bank. That means you can’t complain or turn to anyone and ask for a refund. That’s money is gone the second you invest it and there is no way to get it back.
This leads us to the withdrawals part. Withdrawals are always a very sensitive issue since that is the point where most victims understand they have been scammed. In that sense Bitprime Gold is no different than the rest of the bogus apps we exposed here. It’s not possible to cash out. We tried it and had our account frozen.
Legal And Regulatory Perspectives
Bitprime Gold is not legal and completely unregulated. We checked different aspects regarding regulatory requirements, patenting, and technical aspects. There is no patent anywhere. The software has no ISO certification in the EU, UK, Canada, or Australia. There is no indication of PCI compliance, which means your financial transactions are not up to par with recognized international standards.
Bitprime Gold is a completely anonymous trading app. We are totally left in the dark in regards to who is behind it. This speaks volumes about the legitimacy of the software.
We also checked with CySec, BaFin, and ASIC. Bitprime Gold has no record with any of these regulatory entities. Then we have firewall settings, possible security breaches, and confidentiality of personal information. Again, no one bothered to respond with an appropriate answer regarding any of these issues.
Bitprime Gold on Trustpilot, Reddit, and Various Forums
We have already spotted fake company profiles on Trustpilot. A certain company owns one of the clones and “claimed” it on Trustpilot in order to gain more exposure for their scam. We have also seen fake profiles on Reddit, Facebook, SiteJabber, and even on LinkedIn.
Bonuses and Incentives
Bonuses are not free so please don’t accept them. We were offered a bonus by our account manager and declined it. That’s because of the trading requirement which is attached to it. In our case it was 30 times the deposit plus bonus. Most people don’t bother asking and then end up losing everything.
|Bitprime Gold||Comparative Data|
|Success Ratio||Zero. The app is rigged and set to lose.|
|Trust Level||This is a fraudulent software.|
|Licensed / Regulated||Bitprime Gold is an illegal trading app.|
|Minimum Deposit||The usual. €/$/£250|
Taxes Related To Bitprime Gold
Taxes should be the last thing on your mind. That’s because taxes can be incurred on profits not losses. Since we already know that Bitprime Gold is a losing software, we can conclude that you will not have to declare any taxable income with your local authorities.
Tested Systems That Work
Are you ready for some genuine trading apps? Our staff sifts through dozens of systems on a regular basis in order to find the best and most consistently profitable software. We always test the platforms ourselves and risk our own money before making any recommendations.
Bitprime Gold: The Verdict!
In our extensive Bitprime Gold review we explain in detail why we believe it’s a scam. We have found certain websites that present different arguments. However based on the evidence we produced we firmly stand by our decision to blacklist this automated trading software.
It is our opinion that Bitprime Gold is nothing more than a shameless attempt to create linkage between cryptocurrencies and Gold which is more stable. This is being done because of the current crypto meltdown and the massive amounts of negative exposure on media. If you believe we are mistaken and would like additional information please reach out and message us.