Crypto markets are hot. Volatility is still there. But now the landscape has changed. Institutions entered the bitcoin market, and Bitcoin is now in all the media. This opened Bitcoins to popular interest as a chance for passive income.
Many are wondering if there is money to be made off Bitcoin trading, after all. And indeed the opportunity is there. Trading seems to be a hot topic now because that’s what the public knows, after all, crypto exchanges are fashioned after traditional stock exchange and Forex-style exchanges.
Crypto bots are another buzzword. The idea that cutting-edge technology can assist in performing better trade is not a new one. Bots exist for all kinds of exchanges. Sadly (or luckily) they are not yet capable of trading on their own. Mostly they are sophisticated algorithms created to automate, not substitute real traders.
With Bitcoin Cycle it’s a bit of a strange situation because it was obviously a scam that the website was abandoned. There is no Bitcoin Cycle bot anymore. There never was. But no more will the gullible be coerced into depositing their money.
Full review of how to use Bitcoin Cycle
There is no more Bitcoin Cycle, but it will not be long before it resurfaces. These scams work like that, when one web address is revealed as a scam, they wait some time then reemerge with a new variation on the name. Watch out for when that happens. Trustpilot declared it a scam and reports the website missing.
Ease of use: 0
Minimum deposit and payment options: 0
Demo account: 0
Support and tutorials: 0
Overall rating: 0
Bitcoin Cycle – What is this trading bot
Trading bots are sophisticated algorithms that automate trade. They work by keeping track of the exchange and then perform quick market orders, using the inherent volatility of the cryptocurrencies to take advantage of the speed of machines.
Essentially, without passion or fear, the algorithm buys and sells on predefined positions or according to a set strategy. Usually, this means following the stop order parameter, scanning the “grid” which is why they are often called Grid Bots.
Bitcoin Cycle was not a bot, it was a platform that scammed users out of the initial deposit of $250.
Bitcoin Cycle Application / Web Platform Review
Since there is no longer a Bitcoin Cycle platform, we can only warn you that these sites have all the same copy, the same layout often the very same colors and design elements. You can get familiar with these by browsing our website.
Since they often rehash the name under different web addresses, be warned if Bitcoin Cycle shows again it will surely be a scam.
Security, licensing, and payments of Bitcoin Cycle
So, this was never a trading bot. It was a system where you leave your contact info to register, then you are aggressively pushed by the “brokers” via phone call or WhatsApp to make the first deposit of $250. Then it is up to their agents or brokers to trade with your funds, reporting huge losses, so you as a user happily abandon the deposit to avoid paying for the bad trade results.
Bitcoin Cycle – What do traders say?
Reviews on Trustpilot shows that the website was a scam and it luckily shut down.
Is Bitcoin Cycle legit? – Final verdict by traders
Scam. Now defunct.
Tips on checking whether a bot is legit or a scam
Check if the website mentions celebrities. The most popular crypto celebrity is Elon Musk, but there are others too. Scammers use other big names known to have invested in crypto, like Mark Lewis, LeBron, Kanye West, Gordon Ramsey, Paris Hilton, Gwyneth Paltrow, Floyd Mayweather, or Mike Tyson.
Copy and Web design
Web design and layout for this kind of site are always the same or at least very similar. Not sure why. Even if they change the actual design (like Anon bot), the layout and the flow are the same. Some truths mixed with the lure of a quick return of investment. So, watch out for the patterns, you can learn them by browsing through other reviews on our website.
No support, no contact
The red flag which reinforces the others is when there are no social media links, when you can’t contact the support or when there are no contacts other than a regular website e-mail form.
I think my life changed the day I learned about this amazing guy whom I share the name with – Aaron Savage. He was among the first people ever to advocate for freedom of information and the internet, and I feel he would support a great deal of decentralized finance idea if he was alive today. So, I am just another IT guy, super curious about crypto and writing my opinions and analyses here from time to time. Enjoy!