Crypto Pricesby Coinlib

Bitcoin Bonanza – Is it a Scam or Safe to Use?

The Importance of Reading Before Trading

In the era of overnight millionaires and hard-working entrepreneurs who haven’t even reached the age of 20, the human race is constantly researching new age ways to make money. One of the common ways is by trading cryptocurrencies; however, there is plenty of skill involved in timing your trading right. Successful cryptocurrency traders either know all the tips and tricks to trading, or they utilize automated software. If you can learn the ins and outs of cryptocurrency trading, it can be your full-time job. You may be playing it slow and making little investments, or throwing a lot in at a time and hoping for the best. The good thing is that there are algorithms to help increase your chances of making profit. The bad news is that it takes a lot of time, effort, and trail and error to understand the full workings of cryptocurrency trading. This causes a lot of people to give up, but that doesn’t have to be the answer. There are various automated cryptocurrency trading robots that can do the job for you. This article will be an in depth review of one particular automated trading robot, named Bitcoin Bonanza. It is important to understand the ins and outs of a program before you invest too much money into something that might fail, so this review is for you to know whether you should give Bitcoin Bonanza a try. It is extremely important to know if you are going to be investing money into a legitimate software or a scam before even registering. This particular software is fresh and new, being created in 2017, so many may be scared to test out a relatively new bitcoin software. Unfortunately, because of this, the software has gotten many bad reviews for not being around long enough, despite the high usage levels. The good thing is that this sort of review is normal for pretty much any new age way of making money. Trading cryptocurrencies is a gamble in itself, and introducing an outside program may increase the risk of losing money. This is why researching all available programs to use is important, so you can put your money in the right hands. This article will help you understand the basics of cryptocurrencies and if Bitcoin Bonanza’s attributes fit your needs. Be sure to pay careful attention to the details of trading if you are a beginner, as forgetting even one crucial bit of information could be detrimental to your cryptocurrency investment.

Is Bitcoin Bonanza Trustworthy?

It is FAKE.

It’s important to inform the reader upfront on the decision of whether the software is well-deserving of praise or a big flop to prevent from wasting your time. The answer is that this automated trading robot is, unfortunately, a fraud. Be sure to avoid any links or recommendations to use this software. There are plenty of reasons why this decision was made. The first point is in the user testimonials. There is an abundance of amazing reviews and “real-life” testimonials proving this is the best software on Bitcoin Bonanza’s home page, as most businesses like to show off. Unfortunately, each and every one of them are fake. The pictures that are used in the reviews are also falsified. If you have researched regularly about trading cryptocurrencies, you may even notice that the steps listed on the website are copied directly from Bitcoin Code. There is also a lot of hoax marketing on the Bitcoin Bonanza web page, including fake endorsements from celebrities, showing their pictures and posing false claims, proven by the actual celebrities themselves. One of these claims is that you can make $9600 the next day, which is a lie.

Thorough Review of Bitcoin Bonanza

Of course, it is important to make sure you understand all there is to know about the cryptocurrency trading platform. The automated trading robot will scourge the trading platform with high-frequency technology to find the best time to trade for profits. Upon analyzing the market constantly, it will automatically act upon great opportunities calculated by a large amount of data and accurate algorithms. It is possible for a human to do this manually; however, it would take a lot of work, patience, and time. With the automated trading robots, it happens in an instant. Bitcoin Bonanza does not utilize this sort of technology. In fact, there is almost no technology used. The homepage lists all kinds of fraudulent information and there has been no investment in the high-frequency technology that other successful automated trading robots utilize. The software is full of lies and false claims, promising you successful results, yet not yielding you any return of profits. If you are thinking of using Bitcoin Bonanza, then turn the other way. The entire investment process is fake. Once you have deposited your money to Bitcoin Bonanza, it is gone forever. You will never see it again. Most successful automated trading robots have various experienced brokers to help you through your trading journey; Bitcoin Bonanza’s team of brokers are not well regulated like the others. The software only exists to pocket your money once the deposit is completed. There is no intention to invest your money, only take it and go.

How Does Bitcoin Bonanza Work, Exactly?

We will explain what happened in our tests and research into the software. Typically, when you are registering for a cryptocurrency trading software, you must fill out information. This includes letting them know your country of residence so you can be paired together with brokers in your country to improve your chances of success. United States citizens cannot make an account with Bitcoin Bonanza. You could try using a different cell phone number, but there isn’t really any point. This means that registration is not working at all and the operator is dysfunctional. If you are looking into other cryptocurrency trading platforms, remember this tip: If you can’t even register and verify your identity properly, the software is not worth your time. You want to make big bucks in your name, and be sure that others are not doing the opposite. Registration and verification accuracy are the first keys to finding a quality trading software that is worth your time. The next point against the case of Bitcoin Bonanza is that is claims to have the high profit rate of 90%. This is not completely impossible, however in order to have such success with trading, hyper marketing must take place. Of course, in the case of Bitcoin Bonanza, it is not. All of the evidence up to this point proves it to be a scam, especially the falsified testimonies that the real person has spoken out against. And so, Bitcoin Bonanza does not have any of the working mechanisms that makes a cryptocurrency trading software successful. The software has been deemed to be made by hackers that only want to loot cryptocurrency traders. There are no algorithms or high frequency trading that makes other software successful.

Bitcoin Bonanza’s Features:

Withdrawals and Deposits

Of course, you can deposit money, however if you have read this far into the article you have probably already decided not to do that. The “brokers”, which are actually fraudulent hackers, will take your deposit and there will be no profits made. We encourage you to stay away from Bitcoin Bonanza and don’t test your luck to see if you are able to withdraw money.

Customer Service

Another key to any decent business is a quality customer service team, which of course, Bitcoin Bonanza lacks. Honestly, even if there was a customer service team, they more than likely would just be placeholders and would not be helpful or even present. You are not supposed to make profit on this scam software, so there is no point to have employees help you solve your problems.

Verification System

All successful cryptocurrency trading platforms will require verification of your identity to keep you safe. Bitcoin Bonanza does not do this. They don’t care about you are your identity, the just want to pocket your deposit and move on to the next person. You will never be asked to verify who you are, which is the key to know that Bitcoin Bonanza is a scam.

Payouts

The win rate, supposedly, of Bitcoin Bonanza is 90%. This claim means that you will win 90 out of 100 bets you make using the software. Of curse this is not totally impossible, but it is quite high to start making a user skeptical in the first place. This claim is false, and you will not win a single bet, let alone 90 out of 100 bets.  

Brokers

Successful trading platforms will provide you with an experienced and professional broker to aid you in your trading journey. The broker will typically be matched with you by a region who will place deals in your name. With Bitcoin Bonanza, however, the brokers will not invest your money and try to make profits for you; they will only pocket the money and move on. Since they don’t even verify your country of residence, that proves that they are not matching you with an appropriate broker in the first place. You will invest your money and make no profit whatsoever.

Cost and Fees

The costs and fees of using Bitcoin Bonanza are not even worth discussing in detail. The cost to use Bitcoin Bonanza is whatever you initially invest, as you will lose any deposits you make without even a single cent of profit. There is no capital and no actual investment besides throwing your hard-earned money down the drain for the “brokers” to pocket.

Who Founded Bitcoin Bonanza?

Apparently, the software was initially created by someone by the name of John Truman. However, he has no clear images of himself on the website, which is a huge red flag. If you don’t know the real person behind the website you are trusting your money with, how can you even begin to trust them? Sometimes, even successful trading software will not have a picture of the creator on their website; however, the difference is that these other platforms will make up for it with other forms of verification such as interviews. Bitcoin Bonanza does not have any detailed information or verification on it’s supposed creator John Truman. Secondly, in the description of the creator, he does mention that the Bitcoin Bonanza team proved him wrong. This is quite awkward and strange for the creator of the platform to say, especially since it sounds word for word like one of the fraudulent testimonials we previously mentioned. How would the team prove him wrong? Didn’t he create the team? The information provided by the supposed creator does not make much sense at all and leads us to believe there is something else fishy going on in that department.

How Do You Identify if a Platform is Legitimate or Not?

Of course, even the est and most successful cryptocurrency trading platforms can have mixed or even bad reviews of identical software. It’s not easy for a user to see testimonials on all sides of the spectrum and decide which trading platform is legit for themselves. That is why we are going to provide some tips for you to aid in weeding out obvious scams to lower your chances of getting tricked. The first thing to look for in a cryptocurrency trading platform are the well-regulated brokers. It is possible to look into the legitimacy of the brokers. Typically, if the website states they have a regulated broker, they will provide you with a list of incorporated brokers. Be sure to research these names, and if you find anything suspicious or nothing at all about them, be wary. Successful brokers will have success stories. The next point, as previously mentioned, is the necessity of a proper verification process. You should be asked to verify your identity especially for payouts and withdrawals to ensure that only you get the profit that you have invested for. If they do not ask for initial verification, then it is a surefire way to spot out a scam, as that means they have no intention of paying any profits out to you. If they don’t even ask for you to provide and email, then run the other way. SSL protection is the last main point to easily weed out obvious scam platforms. If there seems to be any chance that your information may be sold or given out, then this is a huge red flag. There should be no third parties that can obtain your information. A legit trading software will prioritize your data and safety, whereas a scam platform does not care about you at all. Make sure you regularly check your email for spam addresses and links that are coming to your inbox. Be wary of clicking on links from unknown sources, as they could be dangerous and worsen the identity problem.

Pros/Cons

Pros

Absolutely none. This is a scam software that should be avoided at all costs.

Cons

  • Scam software
  • Win rate is falsified
  • Testimonials are falsified
  • Not much information on the creator
  • Your deposits cannot be withdrawn
  • Your request for help will not be seen
  • Your deposit will not be invested
  • No verification required
  • Brokers are not regulated

Conclusion

Hopefully you will take this review to heart, stay far away from Bitcoin Bonanza, and get the word out to anyone who mentions wanting to give it a try. The software is a complete hoax and not worth your time entertaining. There are plenty of legitimate cryptocurrency trading software and platforms that you can try out that have been proven to be successful. Bitcoin Bonanza is not one of them by a long shot. The good news is that at the moment, registrations for Bitcoin Bonanza have been closed, so hopefully this is the end of their reign and control over people trying to get into the cryptocurrency scene.

FAQs

Is Bitcoin Bonanza legitimate?

No. Avoid this fraudulent software at all costs.

Is it worth investing your money into Bitcoin Bonanza?

Any money you deposit into this software will not be invested; it will be pocketed by the “brokers” and you will not obtain profit.

How are withdrawals process on Bitcoin Bonanza?

There are no withdrawals to process. The “brokers” take your deposit and do not warrant you a single cent in profit. Hopefully you heed our warnings on Bitcoin Bonanza. There are plenty of other automated trading robots to research and try out that can give you amazing profits. Be sure t remember our provided tips to help you weed out other potential scams and keep your identity safe, as well as making awesome profits. The safest way to protect your identity would be to not use a trading robot at all, however, this may take too long without making much profit to be worth your time. That is why it is important to utilize a trading robot and to ensure that you are using a legitimate software and not a scam like Bitcoin Bonanza.