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Bitcoin Circuit: Is this a scam?

Posted on 21. November 2020 in Bitcoin

Recently, several media outlets have reported on the Bitcoin Circuit platform and whether or not it’s a scam. It describes itself as an automated commerce platform

With the use of Bitcoin and other crypto currencies becoming more and more widespread, scams have also developed that target these coins – scams designed to rob crypto coin users. In this context, it’s important to note that, for some months now, many people have wondered if they can really get rich with Bitcoin Circuit, or if it’s a scam instead, or at least there’s something not clear about this seemingly miraculous project.

Bitcoin Circuit describes itself as an automated trading platform that can be used to buy and sell crypto currencies. It’s a smart trading system that people can use to make money even if they don’t know how to trade cryptosystems manually. In the web portal they describe the project as an initiative of two brothers to facilitate the task of making money.

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What Bitcoin circuit promises

In this case, it speaks directly to us of the possibility of making millionaires by investing in cryptomonies. To do this, all you have to do is make a deposit on your platform, and through an automated investment program, users will “start” to receive “promising” returns, absolutely above the market average and guaranteed.

In their web portal, they point out that with Bitcoin Circuit, new operators “can make excellent commercial decisions with little effort”. They also specify that the user can be more precise with their operations. They also add that everything is automated and that you should let the algorithm work for you.

Finally, they point out that you shouldn’t monitor the markets because Bitcoin Circuit opens and closes the trades for you. The minimum deposit that can be used for trading on the platform is $250, up to $15,000.

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But is it a scam or not?

Although in many media within the ecosystem, they have covered the issue, none can assure or deny that it is indeed a scam. It is up to the competent authorities to determine whether or not it is. However, it does raise questions from people who indicate that it is a fraud.

What is certain is that Bitcoin Circuit is an operator that promises its customers very high profit possibilities in a short period of time. And it does so through an automated trading system that should be able to support these purposes in a simple and intuitive way.

It’s also interesting that, looking at the official Bitcoin Circuit website, you can see how some clones have emerged at the same time. This could indicate that something is wrong.

However, we also see how many people, without the right knowledge, end up approaching operations like these with excessive optimism. And, considering the lack of information offered by this site, they end up depositing the money in the coffers of the offshore brokers announced by this platform, discovering that the reality is very different from what they could imagine.

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How to identify if it is a scam?

What we can help you with is to differentiate potential Ponzi schemes or crypto-currency scams in general. Some of the reasons why many people tend to be deceived by fraudulent projects include the absence of regulations, a lack of or no general understanding of cryptomonies and the very high possibility of obtaining massive returns on their investments that has been observed throughout this decade of the emerging new decentralized economy.

We remind you that, if you want to invest in Bitcoin or any other crypto currency, and you don’t know about projects like this one, look for reliable and regulated brokers. Also, you should always keep in mind that: “If it seems too good to be true, then it’s probably a scam.

There are three fundamental characteristics in any cryptomoney scheme to be taken into account and from which, the rest of the key points to differentiate fraudulent projects are generated. Basically they are: unrealistic claims, absence of base code and lack of key information.

Ponzi schemes, on the other hand, are fraudulent scams that generate profits for former investors who use subsequent investments, without any legitimate operation.