BTC Robot Review- Does it scam people?
Hello and welcome to my BTC Robot review. I know you’re wondering if this is the latest scam because you read some email or advertisement of how someone is making lots of money by joining the website and such. Don’t they all say that though? Well, yes. They do. But is there any hope in this particular one? Can you really make money? Is it finally something that works? Well that’s where I come in to help you. You see, I’ve been making money on the Internet for the past 2 years now and I know a thing or two about what really works and I can say that most programs out there won’t truly help you. But let’s give this one a shot and a chance and I’ll give you my personal take and review. So let’s discuss what this is about.
Making money by investing and trading in the “Bitcoin” market is what BTC Robot revolves around. What is the Bitcoin? It’s like a new type of currency. It’s a virtual currency like for the Internet. Sounds nuts right? I think it’s quite intriguing to be honest. Think of how your country has it’s own currency/money. Well I guess the idea is that the Bitcoin is its own kind of crypto-currency that you use to trade and make money with and BTC is robot is going to help you out…supposedly.
The ROBOT That Does The Trading For You
So the basic premise is that you invest some money into the Bitcoin market and start trading. Well, actually you install this “robot” and it trades for you. It is a little bit confusing so I’m just going to sum it up in simple terms. You can set the robot to trade at “conservative”, “medium”, and “aggressive”. Basically what it will do for you on autopilot is buy LOW and sell HIGH.
It costs over $100 to purchase a single Bitcoin. You need money to make this thing work.
Not only that, but total earnings after 14 days were….wait for it….around $16. And that was quite exceptional as I found out when looking for other people’s earnings.
The BTC Robot Member’s Area
So pretty much the prolific training package that is marketed is the Platinum package which is going to cost you a big chunk of change. There is a lower end package and a higher end, but I guess this is what affiliates have recommended to me. Now let’s talk about what is inside the member’s area.
There are 5 sections inside the member’s area:
- Overview- Of course you are given a breakdown of what this program can do for you and what the industry or niche your in (bitcoin) is all about. Very basic overview.
- Bitcoin Robot- This is the place where you install your “Robots”
- Tutorials- Nothing really more than a tutorial that shows you HOW to install your robots and there is a Fast Start Guide that teaches you even more what the bitcoin industry is ABOUT and what not.
- Bonus- Bitcoin Pioneer E-book & Secret Trading Strategy Guide. Well, not so secret if it’s you and hundreds, possibly thousands of others using it, huh?
- Contact
What I Realized
So to wrap things up, after getting an understanding of the Bitcoin exchange industry and what BTC Robot is all about, from what I take out of it is that it’s pretty much an overpriced training package that helps you most with the very basics of setting up an account at the BTC exchange website and getting things set up. And the robot performs at a very mediocre level. Can you make money? Yes, you probably could make some money in this industry, but only AFTER you have absolutely mastered the trading and what you are doing. This can literally take months, if not years if you don’t have a super understanding of this business. The real way you make money is by becoming an AFFILIATE of this product and reselling it to people searching for “ways to make money on the Internet”.
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These response is not good at all keep posting good result and bad
We decided to give this bot a chance. After reading reviews, most of which seemed positive, but almost all fo which contained referral links, we figured it was worth a shot. We tried both ltc and btc. The reviews suggested going with aggressive mode, so we did.
Wanting to go lightly, we started with $1000 worth of BTC. Immediately the bot sold almost all of the btc for a loss. From there, it just got worse.
To be fair, MtGox crashed during this time. And we were impressed with the controlled losses on the way down. However, we were not impressed with the fact that the bot lost money on just about every move, up and down. Within about three and a half weeks it had managed to wipe out over 10% of our original investment. This is horrible. Even a novice trader with good loss management skills should be able to do better than that.
The ltc side wasn’t much better. For some reason, it wouldn’t trade at first. That turned out to be a good thing. We put in $500 worth. After promptly selling our coins for a loss, the bot didn’t trade for the first week or so. Support never responded to queries. On a minor move of about a quarter, it managed to lose $20. We were impressed that it gained it back within a few days, but it still continued the downward movement from there, in spite of ltc gaining a dollar during that time.
We’ve emailed support numerous times. Once we received a response asking for our account email. After providing it, we received no more responses to our questions. NONE.
The literature claims that the robot reads technical indicators. Being familiar with these tools, I watched to see how it handled things. For loss management, it has some good features built in. However, it missed some obvious moves that anyone even slightly proficient at technical analysis and Elliot Wave theory should have picked up.
We’re now in the process of requesting a refund. Hopefully that part of the promise will be good. The rest of it wasn’t at all.
Kind regards,
Joe