Last Updated on May 13, 2021 by Stephan Lindburg
Welcome to our BitSignal review and scam investigation. The BitSignal scam software is supposed to be an automated signals app which “empowers individuals” and trades cryptocurrencies on auto-pilot without any need for human intervention. But our evidence proves that BitSignal is simply another cloned website designed to bait potential victims. Viewers are led to believe that if they invest through this bogus app their lives will transform and they could potentially become rich overnight. Suffice it to say these are all lies and the reason the con artists are using highly manipulative sales tactics has to do with the offshore CFD (contract for difference) brokers with deep pockets and an insatiable appetite for new investors.
Websites like BitSignal are a dime a dozen and offer no genuine value for its users. They are designed for the sole purpose of attracting uneducated or uninformed day traders that are searching for an easy way to make a quick buck trading Bitcoin online. Interestingly enough, we first got wind of the BitSignal scam after receiving complaints from a few of our members. Most grievances had to do with not being able to withdraw existing funds, but we also received reports about a software that generates consistent losses. This makes perfect sense since the masterminds of this obvious get-rich-quick scheme are the offshore CFD (contract for difference) brokers we mentioned before. These crooks are completely anonymous and not accountable to anyone except themselves since they are not regulated.
BitSignal is already becoming very popular with scammers and has metastasized to take many forms. This is happening for a variety of reasons, but mainly due to the fact that there are competing affiliate networks that are trying to insert themselves into key queries on search engines such as Google or Bing. In fact, these networks are the ones responsible for promoting the BitSignal scam along with the unlicensed offshore CFD (Contracts for Difference) brokers.
When we signed up to conduct our £250 test, the broker which was assigned to us was named “Bit Value” and it has a registered business address in Sofia Bulgaria. We were about to fund our account when we saw a message that told us to contact our broker, which we tried doing but were not able to. We did however receive a phone call after about two minutes, and our account manager Ramone Kramer advised us that they do no accept auto-trading and that unless we invest at least £1,000 we can pretty much forget about making money. When we asked Ramone if he knows what BitSignal is and if it is a scam, he told us that he has heard about it and it doesn’t work. He tried to sell us his “inhouse” signals app coupled with tailor-made strategies provided by an “investment analyst”.
That is a classic “lead-in” sales pitch for a scam, and if you encounter anything like that you should know that you are in a very precarious position and headed for a serious fall. So if for some reason you believe BitSignal is a genuine trading robot, we recommend you take a minute and read our independent BitSignal review. We know exactly who is orchestrating this dubious app and will expose their methods of operation in our investigation.
Official Website, Login Page, and Members Area: There are at least 3 sites now and they are all claiming to be the “official” one.
Proof of SCAM
Below you can see the so-called “official” BitSignal website. A quick look at the main title reveals that it says “Bitcoin Is Making People Rich”.
Now take a look below, and you will see the same exact sales pitch being used for 4 other cloned websites. While its true that BitSignal uses a slightly different logo, it’s quite obvious that almost every other aspect of the website design is the same.
And here we have 2 different versions of the BitSignal scam trading app. These versions are being used by competing affiliate networks which are adamant about creating their own production lines of scam websites. These sites are also developed in a type of “cookie-cutter” format and then provided as a turnkey solution for online promoters who are constantly on the prowl for “new and interesting” scams to peddle.
BitSignal Fake Testimonials
And here we have the BitSignal testimonial section. Again, it’s quite evident that it is completely forged and not one single testimonial is true. It’s interesting the scammers don’t really care about putting on a decent show, and could care less about having their services exposed in the most scathing manner. Anyways, we posted the image below for you as well so you could see exactly how the scammers operate.
Fake BitSignal Reviews
We were able to spot at least 3 documented fake BitSignal reviews, and they are all originating from websites belonging to the same affiliate network. We encourage you to refrain from taking advise from any website that endorses all or any possible system regardless of how convincing their product review may seem. It’s simply not possible or logical that every software “reportedly” generates winning signals and can turn you into a wealthy individual overnight.
BitSignal Fake News
We have already spotted a fake celebrity-endorsed campaign which directs users to register and invest. Scammers are using all kinds of celebrities, and depending on your physical location you will be targeted by the designated advertisement. For example, viewers from Germany may see a fake Der Spiegel article with Dieter Bohlen, but if you are in Belgium your may see a fake news site with Stromae talking about a wealth loophole which is generating profits for him.
What Is BitSignal and How Does It Work?
BitSignal is supposed to be an automated trading app which uses algorithms and artificial intelligence (AI) in order to buy and sell cryptocurrency contracts. In the sales page they talk about a cutting edge technology as well as sophisticated charts, patterns, and automated strategies that take the guess-work out of trading. In one of the websites they also say that BitSignal is a “tax-efficient” way to trade CFD’s. Does that mean that they are advising users that it is an effective method to launder money? Hard to say, but we do know that regardless of what version you have been referred to, it is full of lies and as we have already mentioned there is zero automation with the BitSignal app.
BitSignal Review, Losing Software Exposed!
Despite what you may have heard or lead to believe, the BitSignal scam app is neither credible, efficient or reliable. BitSignal is a totally anonymous software and there is no way for us to know who is really behind it. So in terms of transparency you it scores a big fat zero, and that is a huge red flag right there. In terms of profitability, we have already mentioned that we didn’t even bother investing with our own money after the broker advised us that BitSignal is not really a software, so based on documented feedback we received from our members it’s quite evident that it’s not possible to generate any type of income using this system. As for the demo account, we were told that it is set on win, but after investing real money customers start incurring losses very quickly.
So if you are asking yourself right about now if BitSignal is scam or legit you have your answer. At this point we can absolutely conclude that the broker selection process is abysmal and totally biased. There are no custom features or any way to adjust your risk level, parameters, or settings. And of course the accuracy levels are nothing to boast about. We are also aware that there is a BitSignal FAQ section which tries answer some basic questions. That is also copy/paste material which is taken from other sites from the same or competing affiliate networks. Lastly, we tried to contact the BitSignal support staff through the form on their website but received no response.
BitSignal Review: Amateur Traders Targeted!
The BitSignal scam is not designed for savvy investors or experienced traders who understand a thing or two about trading Forex or CFD’s. It’s designed specifically for new or amateur traders who are motivated by emotions and greed, rather than logic or financial prowess. That’s fairly easy to spot since savvy traders will never take the bait and invest using such a subpar service.
Licensing and Patenting
Software patenting is becoming increasingly important in Forex and CFD’s. Software development companies in the European Union must apply for an EUPL ( European Union Public License) and be OSI certified. There are other types of certifications such as PCI compliance, and ISO 9001 which are in place to institute privacy, security, and confidentiality procedures. In Australia for example you have to apply for an AFS license and manage your business according to the Corporations Act of 2001. BitSignal does not have any form of certification and for that reason alone should be blacklisted.
Is BitSignal Safe To Use?
Well, we checked and on one version we received a message about PUP or potentially unwanted programs such as spyware or malware. That means scammers are using BitSignal to monitor your movements online or even inject malicious software on your computer or device.
Derivative Trading and CFD’s
A derivative is a financial product whose value is literally “derived” from the underlying assets which are being traded. These assets can be currencies, indices, commodities, and stocks. CFD’s or contracts for difference are derivatives which can be purchased or sold according to a contract rate. Unlike usual stocks, when you buy a CFD you speculate on the margins, and don’t have to own the actual asset. This makes the process much simpler and quite profitable if done correctly. The problem with get-rich-quick schemes like BitSignal is that they only mention the potential benefits, but neglect to talk about the risks which are involved with all forms of online trading.
What To Look For When Choosing A Software
When we test a software we look for ease of use, consistency in profitability, and fast withdrawals. So if a software passes our screening process and added to our recommended section you can be sure it works like a Swiss watch and generates profits on a daily basis.
BitSignal Review, Summary, and Conclusions
The BitSignal scam is a blacklisted automated Bitcoin trading app and that is not just an argument, its a proven fact. In our BitSignal review we were able to gather and present all the necessary evidence which is required in order to validate our assessment. We find it difficult to accept that there are a variety of affiliate websites which are openly endorsing this software and advising their viewers to join this fraudulent trading app. We would like to take a minute and remind anyone who has chosen to read our review that there is a lot of SPAM on TrustPilot and other forums like Reddit which is constantly being updated and modified for promotional purposes. In a nutshell, we have found BitSignal to be utterly misleading and full of invalid claims about how easily anyone can just become a super-rich after investing £250. In this context we advise our subscribers and readers to remain vigilant and refrain from taking advise from websites that whitelist every possible system which is available online. Should you have any additional question or require clarifications, please make sure to reach out and message us via our contact page or social media.