Bitcoin Formula, which is one of many controversial brokers who have appeared on the market. Find out all about this project, which raises many doubts in the cryptocurrency market.
Bitcoin formula, and currently Bitcoin Revolution is a fairly aggressive advertising program in which you can allegedly earn a lot. Why allegedly? Well, the first doubt arises immediately when the platform boasts 100% efficiency. Unfortunately, there are no investments that do not have risk. All the more so investments characterized by high profitability and low workload are characterized by a very high level of risk.
In addition, the site itself does not inspire trust, entering it has the impression that something is wrong here. I agree, the program is very nicely described, but the page itself looks like a typical landing page, i.e. a website designed to direct the user to the sales page. This is only the first impression, and it raises considerable doubts. So starting from the beginning.
What is Bitcoin Formula?
From the information that can be found on the site, it is a platform that enables cryptocurrency trading using "the latest technologies" and bots to trade. Thanks to this, it ensures very high profits and does not require the user, neither any knowledge nor a large commitment. The minimum investment amount is $ 250. It falls within the general standards of brokers and investment platforms.
It is possible to create a demo account with virtual funds on the website. This gives you the opportunity to test the program before investing real funds. On the other hand, the website does not contain information about any supervisory institution or even the company's headquarters. The contact tab contains only the contact form. So,
Is Bitcoin Formula a scam?
Looking at the whole program again from the beginning and ignoring the doubts mentioned earlier, the following aspects arise:
The first is the lack of any information about the company's headquarters and supervisory body, which is required to conduct legal brokerage activities. In addition, by reading the information in "small print" at the bottom of the page, you can find out that Bitcoin Formula is not a broker at all, but a technology company and broker, and any legal responsibility is imposed on the user or entity that directed the mogul to the site.
The second very interesting matter is the rest of the text in small print. There you can read that all information provided on the site are only approximate mathematical results and actual results may vary. In addition, Bitcoin Formula does not take any responsibility for this and suddenly "small print" at the very bottom of the page warns that investments in capital markets are risky. So even 100% effective methods are risky? Something does not fit here.
The third doubt is the website address itself. The old website of thebitcoinformula.net is no longer functioning and the new website is securebitgain.com. The name does not refer to any company or even the name of the program. However, it is very well positioned. By entering the phrase "Bitcoin Formula" in Google, the first five pages are different types of ads, which contain in the headers information such as "is bitcoin formula secure?", "Is bitcoin formula safe?", "Trust bitcoin formula?". So it looks as if subsequent pages were to dispel the user's doubts. Interestingly, despite the different addresses, all these pages lead to one and the same place - the Bitcoin Formula homepage.
The final answer to whether Bitcoin Formula is a scam would be possible after making a deposit. However, looking at the site and the very nature of the program in terms of security already raises many serious doubts. By common sense, Bitcoin Formula is probably a HYIP program, which is very risky, encouraging with huge profits and not guaranteeing the possibility of withdrawing your funds in any way.
Unfortunately, information about whether anyone has ever withdrawn money from this program is very hard to find. There are a lot of positive, sweet opinions affecting the user with the possibility of large profits, which may wonder.