Bitcoin Trader – The leading trading platform for cryptocurrencies, according to its own statements, provides automated trading software for trading with Bitcoin.
You have invested with Bitcoin Trader and want your money back? The law firm Herfurtner helps you with obstacles.
- Bitcoin Trader – what is it?
- What function does the trading bot promise?
- Who are the responsible persons?
- Increased risk through trading robots
- Bitcoin Trader fraud? BaFin warns
- Bitcoin Trader user experiences
- How meaningful are trading forums and rating portals on the internet?
- Site Promotes Bitcoin Trader: Are Such Articles Credible?
- Bitcoin Trader and “The Lion’s Den
- Which celebrities are official advertising partners of Bitcoin Trader?
- So how serious is Bitcoin Trader really?
- Simply fake? – Bitcoin Trader Test 2023
- Bitcoin Trader relies on insider feeling
- Bitcoin Trader App – offensive advertising
- Summary: 5 disadvantages of Bitcoin Trader
- Getting payments back from Bitcoin Trader: Lawyers help
Bitcoin Trader – what is it?
Bitcoin Trader is an automated trading robot that automatically trades Bitcoin and other cryptocurrencies such as Litecoin, Ripple and Ethereum. It is a software used by traders to make trading decisions and place trades automatically.
According to its own statement, the Bitcoin Trader software uses advanced algorithms and artificial intelligence to analyse the market and identify trading opportunities. The software then automatically places trades based on these analyses.
Users can use the software from anywhere in the world as long as they have an internet connection. However, it is important to note that trading cryptocurrencies such as Bitcoin involves significant risks and users should always be cautious and only invest money they can afford to lose.
However, the mechanism that supports cryptocurrencies is as complicated as traditional exchanges and the normal financial market. Moreover, a lot of false and even fake information is spread, and if an inexperienced trader relies on it, he can quickly lose everything.
The platform promises to essentially take over the tasks that a broker would normally do: It tracks market movements, looks for investment opportunities and makes stock market speculations. Because of the rapid price fluctuations, it is difficult for the average person to get an overview and even more difficult to trade profitably.
But as with binary options trading, there is a certain danger for the investor even with optimised prospects. In addition, there are numerous negative testimonials from Bitcoin Trader users.
What function does Bitcoin Trader promise?
Bitcoin Trader promises to allow users to automatically trade Bitcoin and other cryptocurrencies for potential profits. The software uses advanced algorithms and artificial intelligence to analyse the market and identify trading opportunities. Then, the software automatically places trades based on these analyses.
The main features of Bitcoin Trader include – according to the provider:
- Automated trading: the software executes trades automatically, reducing the risk of human error and emotion.
- Market analysis: The software continuously analyses the market to identify trading opportunities and spot trends.
- Fast execution: Bitcoin Trader places trades quickly and reliably to profit from market changes.
- User-friendly interface: The software has a user-friendly interface that is easy to use and easy to understand even for beginners.
However, it is important to note that trading cryptocurrencies such as Bitcoin involves significant risks and users should always be cautious and only invest money they can afford to lose. In addition to the basic risk of Bitcoin trading, another risk of loss exists due to dubious Bitcoin trading robots, which investors and traders need to be aware of.
Bitcoin Trader – who are the people in charge?
It is not clear who exactly is behind Bitcoin Trader, as the platform does not disclose any information about its company or founders. The website only claims that Bitcoin Trader was developed by a team of experienced software developers and cryptocurrency traders.
However, it is known that there are many fraudulent platforms posing as Bitcoin Trader or using similar names to deceive users and steal their money. Users should therefore always be careful and only choose reputable and trustworthy trading robot platforms to minimise the risk of fraud and losses.
It is also important to note that the anonymity of cryptocurrency platform operators such as Bitcoin Trader can be a risk factor, as it can be more difficult for users to hold responsible parties accountable if problems or fraud attempts occur.
Bitcoin Trader and Co. – increased risk due to trading robots
Bitcoin Trader and other trading robots can increase risk as they rely on automated algorithms and trading decisions based on historical data and market analysis. However, there are several factors to consider that can influence risk:
- Market volatility: Cryptocurrency markets are known for their high volatility and price fluctuations, which can occur quickly and are difficult to predict. This can lead to losses even if a trading robot is used.
- Execution of trades: The speed at which trades are executed can also influence risk. If the trading robots are not fast enough to place trades, this can lead to losses.
- Lack of human supervision: If users rely completely on trading robots without doing their own market research or monitoring their trades, they may suffer losses when unexpected market movements or other events occur.
- Unreliability of trading robots: Not all trading robots are the same, and there are many fraudulent platforms that claim to make profits but in reality only aim to rob users of their money.
- Fraudulent Bitcoin Trading Bots: There are a variety of fake trading robots in the Bitcoin space on the market.
- Emotionlessness: Automated trading robots cannot take emotions into account and in some cases can lead to irrational trading decisions that do not meet users’ expectations.
It is therefore important that users are always careful and monitor their trades, even when using trading robots. It is also advisable to choose reputable and trustworthy trading robot platforms and only invest money that one can afford to lose.
Bitcoin Trader Fraud Cases? BaFin warns
Bitcoin Trader is, according to its advertisers, an online platform for profitable speculation on the crypto market. An application for algorithmic trading of cryptocurrency pairs is provided, according to the provider Bitcoin Trader.
The company claims that trading is done with an accuracy rate of 99.4% and that the application’s programming is the most sophisticated the trading industry has ever seen. The programme aims to beat the markets by 0.01 seconds. Investments are possible from 250 euros, he said.
As early as November 2019, the Federal Financial Supervisory Authority warned against the Bitcoin Trader provider, as it lacked a licence under Section 32 of the German Banking Act (KWG) to conduct banking business or provide financial services in Germany and the company was not subject to BaFin supervision.
BaFin’s warning notice further states that the company withholds information about its legal structure and its registered office.
Bitcoin Trader user experiences
There are many testimonials and discussions on the Bitcoin Trader forum and other online review portals shared by different users. Some users report positive experiences with the platform, while others have had negative experiences.
- Some users report losses they have suffered from using Bitcoin Trader.
- Others say that the platform is not as effective as it is claimed to be and that the results are unpredictable.
- Some users have reported difficulties with withdrawing winnings or logging into the platform.
This is 100% in line with our clients’ experiences. Furthermore, consistently positive reviews should always be checked for authenticity.
Here you can read some testimonials our firm received:
“I initially invested 250 with Bitcoin Trader. I quickly made a profit. That’s why I invested another EUR 6000 afterwards. After a few months, I demanded payment of my credit balance. They then demanded a tax and proof of liquidity from me. Since then, I have been stalled. I have seen nothing more of my money.”
“Quite simply, this offer is unreal. I was cheated out of all my money by this provider. At first they are very friendly, knowledgeable and always there for you. But then when the time comes, they won’t let you make the first withdrawal. It’s all a fairy tale. They cost me a total of 85,000 euros and I am now bankrupt. My marriage is on the verge of breaking up.”
“If you can’t afford to have your money stolen, please don’t invest in this company. It was like that with me: stubborn, meaningless assurances that the debt would be repaid with interest when due. Sure, if I continued to pay my dues. Taxes, commissions and so on. Most of all, I am angry with myself for not heeding the warnings at the beginning. My savings for myself and my children, it’s all gone.”
How meaningful are trading forums and rating portals on the internet?
The statements and ratings in forums such as the Bitcoin Trader Forum can be useful to get a general picture of other users’ experiences with the platform. However, there are also some factors to consider that can influence the validity of these forums and statements:
- Authenticity of reviews: It is possible that some reviews on the forum could be from fake users or competitors. Therefore, it is important to be critical and check different sources to get a balanced picture.
- Representativeness of the sample: The users who share their experiences on the forum may not be representative of the entire user base. The experiences of a few users cannot be generalised to the experiences of all users.
- Bias: The ratings and experiences of users may be influenced by biases or personal experiences. It is important to keep in mind that users’ experiences are subjective and may differ from person to person.
Overall, forums and reviews can be a useful source of information, but users should also check other sources and do their own research before making a decision. Other sources include financial authorities, Bitcoin fraud law firms, and police alerts.
Site promotes Bitcoin traders: are such articles credible?
Sites that claim to have tested and advertise trading robots like Bitcoin Trader can be credible in some cases. However, there are also many dubious websites and scams that try to get users to invest money in fraudulent trading robot platforms.
To check the credibility of such sites, users should consider several factors, such as:
- Independence: have the tests been conducted by independent third parties or have they been conducted by the platform itself?
- Methodology: Were the tests conducted in a thorough and scientific manner? How were the tests conducted and what factors were taken into account?
- Transparency: Are the results and methods of the tests transparent and accessible? Can users understand and verify the tests?
- Contradiction: Does the site also publish critical voices or testimonials from users who may have had negative experiences with the platform?
Finally, it is advisable not to rely on just one source. Take enough time to check and compare different statements.
It is also important to bear in mind that trading robots like Bitcoin Trader are always associated with risks, regardless of which sites promote them. Users should always carefully consider and do their own research before investing in such a platform.
Bitcoin Trader and “Die Höhle der Löwen” (The Lion’s Den)
The provider Bitcoin Trader advertises that it has met with great enthusiasm from the judges of the Vox television programme “Die Höhle der Löwen”. But “Die Höhle der Löwen” juror Carsten Maschmeyer had never heard of the trading platform before the flashy advertising appearance. The reports that the automated trading software was presented in an episode of the German version of the TV show “Die Höhle der Löwen” and was supported by one of the “lions” is simply false.
Also, the alleged interviews with Die Zeit, the programme Hart aber Fair or Late Night Berlin did not really take place. The same applies to advertisements for Bitcoin bots such as Bitcoin Trader, which advertise with Elon Musk as an alleged testimonial. Avoid providers who make these promises at all costs, as they lead unwary users to fraudulent websites. The consumer advice centre, BaFin and lawyers also advise against this.
Although some protagonists of the show “Die Höhle der Löwen” have probably already checked legal steps, the company keeps aggressively advertising with an alleged huge success with TV investors.
While Bitcoin Trader apparently tried to generate attention with the news that the show “Die Höhle der Löwen” (The Lion’s Den) had been cancelled, the provider is currently betting on a supposed “deal that will amaze every viewer”.
At least, this is how one of Bitcoin Trader’s affiliate partners titles his sponsored link on Google. The online platform’s advertising partners include
On the websites of the affiliate partners, the interested party learns that one simply registers on Bitcoin Trader and lets the system calculate one’s chances on the market. In this way, considerable capital can be acquired with minimal effort.
The procedure is also aimed at the convenience of the interested parties: For example, it is said that the platform takes away the burden of speculating on the stock market, observing developments on the market and exploring investment opportunities.
Which celebrities are official advertisers of Bitcoin Trader?
Contrary to Bitcoin Trader’s advertising, there are no public reports of celebrities investing with the trading bot. However, there are still many false claims and scams claiming that celebrities such as Elon Musk, Richard Branson or Gordon Ramsay have successfully used the app. However, these claims are usually false and are used to trick users into investing in fraudulent trading robot platforms.
It is important to note that celebrities also do not endorse trading robot platforms and are not in a position to confirm the effectiveness or seriousness of such platforms. Users should always rely on trusted sources and their own research to make an informed decision about their investments.
So how reputable is Bitcoin Trader really?
The seriousness of Bitcoin Trader is debatable and there are many opinions about it. Some users have had positive experiences with the platform, while others have had negative experiences or have expressed concerns about the security and seriousness of the platform. The following applies here: It is not uncommon for there to be fake or purchased customer opinions on the internet about a wide variety of providers.
In addition, numerous negative customer experiences, dubious and fake advertisements with celebrities as well as warnings from European financial supervisory authorities weigh heavily and should be taken into account when evaluating the seriousness of Bitcoin Trader.
It is important to note that there are many scam attempts where fraudulent platforms claim to be Bitcoin Trader or similar trading robots. It is therefore important that users only choose reputable and trustworthy trading robot platforms to minimise the risk of fraud.
Bitcoin Trader is not regulated in Germany. Neither the Federal Financial Supervisory Authority (BaFin) nor any other German regulatory authority has officially regulated or licensed Bitcoin Trader.
It is important to note that the regulation of cryptocurrencies and cryptocurrency derivatives in Germany is still relatively new and constantly evolving. However, BaFin has announced that it will introduce stricter regulations for cryptocurrency derivatives platforms in order to increase investor protection.
Users should always be careful and only choose reputable and trustworthy trading robot platforms to minimise the risk of fraud and losses. It is also important that users do their own research and follow the laws and regulations in their respective countries.
Simply Fake? – Bitcoin Trader Test 2023
Because, according to affiliate partner Bitcoinmag, being a trader is a main occupation and you have to stay on the ball at all times, it is difficult to earn money with it on the side.
The crypto market is accessible to everyone, but without basic financial knowledge you can quickly fall into traps and make losses. With Bitcoin Trader, however, even inexperienced traders can achieve success. And the whole thing is practically at the push of a button.
According to its advertising partners, the provider scans the price trends and, with the help of algorithms and extensive databases, can allegedly calculate almost one hundred percent which deals will bring the desired result.
No effort, no tedious reading, no evaluating number-heavy information – those who invest with Bitcoin Trader save an enormous amount of time and effort, according to the advertising partner.
After all, the price of cryptocurrencies can change within seconds, and a lot of time can be lost in time-consuming research.
Although risks are also mentioned, they are not excluded, just as with traditional investments on the stock exchange. At first, this sounds not very risky and quite confidence-inspiring, as does the reference to the fact that Bitcoin Trader is only limited to trading with Bitcoin.
Thus, the advertising partner suggests a critical examination of the offer. The fact that there is no profit guarantee is also mentioned.
Bitcoin Trader scams: However, warnings against Bitcoin Trader and comparable trading platforms are played down: The entire cryptocurrency market is currently suffering from a bad reputation, negative reviews and testimonials would only claim that Bitcoin Trader is a scam.
There is even talk of false reviews.
Finally, however, one hears again and again from people who were able to achieve success with Bitcoins and Altcoins. This sounds like little more than a vague rumour – so at this point at the latest, interested parties should consider whether they want to take the plunge.
Bitcoin Trader relies on insider feeling
Anyone who wants to get information directly on the Bitcoin Trader website can only get there via links on the pages of the affiliate partners. Even the domain of the website communicates supposed secret knowledge: profitsecrets.co. The domain extension “.co” stands for a registration in Colombia.
Right from the start, the prospective customer is emotionally charged.
In addition, the platform advertises with economic greats such as Bill Gates or Richard Branson.
The hint that Bitcoin Trader is reserved for people who have jumped on a supposed wave of success is also meant to generate interest. Members of Bitcoin Trader enjoy retreats all over the world and meanwhile simply make money on their laptop in just a few minutes.
The provider describes its services with strong words: the platform wants to work with the precision of a laser, offers superior technology and also an award-winning trading app. This was awarded 1st place in the category trading software by the US Trading Association.
However, there does not seem to be an organisation of this name – the name does appear on the internet in connection with scam warnings.
Bitcoin Trader App – offensive advertising
On its website, Bitcoin Trader presents alleged investors who advertise for the provider with a picture and original sound and aim directly at the heart of the interested party and are supposed to encourage him to invest.
However, the reader does not learn who is behind the platform.
On the Bitcoin Trader website, there is neither an imprint nor a personally responsible person.
The online media magazine Meedia reports in detail about Bitcoin Trader’s aggressive advertising methods. For example, the provider advertised that “Die Höhle der Löwen” had been cancelled. Those who clicked on the ad were directed to a landing page of Bitcoin Trader in the style of Zeit Online.
Photos and videos of the TV investors from “Die Höhle der Löwen” show their supposed enthusiasm. However, Meedia calls the methods of the trading robot provider a “lousy rip-off” and “fake news”. Finanztreff has already reported on the “Die Höhle der Löwen” ad.
Summary: 5 disadvantages of Bitcoin Trader
Here are 5 of the disadvantages and risks:
- Dishonest advertising: Bitcoin Trader and similar trading robot platforms are often promoted through dubious advertisements that contain exaggerated promises of profits and false claims to trick unsuspecting users into investing in fraudulent platforms.
- Warnings by authorities: There are warnings from financial regulators such as BaFin in Germany and the FCA in the UK that cryptocurrency derivatives trading is high risk and that many trading robot platforms may be rogue. In particular, BaFin warned against Bitcoin Trader back in November 2019.
- Lack of regulation: these and similar trading robot platforms are often not regulated and do not have official certifications from financial regulators. This can affect users’ trust in the platform.
- Allegations of fraud by users on the internet: There are many reports and complaints from users on the internet claiming that they have lost money by using Bitcoin Trader and similar platforms or that the platforms are fraudulent.
- Lack of transparency regarding company information and responsible parties: Bitcoin Trader and similar platforms often do not disclose information about their company or founders, which can affect users’ trust in the platform.
Recovering payments from Bitcoin Trader: Lawyers help
In case you have already made investments with the provider and now want to get them back, there are several approaches.
- If the operators are arrested, claims of the investors who have suffered losses can be asserted in court proceedings. For this purpose, we accompany our clients through the so-called adhesion procedure. In this way, we are in a position to obtain court titles for our clients against the providers. Often, these can then be immediately enforced against the seized capital of the perpetrators.
- If there is a suspicion that the accounts into which our clients have deposited money are part of a money laundering scheme, these bank accounts can be blocked. Transfers to these accounts can then be reclaimed from the receiving bank.
- If an analysis by our lawyers would prove that the provider has probably acted dubiously, we file a criminal complaint with the competent authorities on behalf of our client. The Herfurtner law firm is in constant exchange with public prosecutors’ offices, which control nationwide investigations. In most cases, there are hundreds or even thousands of aggrieved investors in these investigations. The investigations repeatedly extend to foreign countries. In recent years, the public prosecutor’s offices have repeatedly achieved important investigative successes.
- Often a solution can be agreed with the service provider itself. Our law firm repeatedly manages to reach out-of-court settlements with the providers. Our clients then get all or part of their transfer sum back.
You are welcome to contact our lawyers and describe your individual case in a free initial consultation and discuss civil and criminal law options.