Detailed Bitcoin Up Review 2023 – Scam or Legit?

What is Bitcoin Up?

A new scam is being launched, this time called “Bitcoin Up.” Bitcoin Up is a type of Bitcoin trading robot that generates $1300 per day for you via auto-pilot. It uses an “award-winning algorithm”.

Affiliate networks are the key to this scam. They are working in tandem with unlicensed offshore Forex brokers and CFD brokers. CFD’s can be purchased and sold on the basis of contract rates. However, these promoters don’t want savvy traders.

They are actually targeting uninformed or inexperienced opportunity seekers looking to make passive income online. Pro CFD was the broker assigned to us. Although it has a UK registered business address, the broker does not have the legal certification necessary to manage clients’ investment portfolios.

We expected to see some sort of trading panel, either in the form signals or indicators. However, this didn’t happen. The Bitcoin Up website is really a landing page with lots of hype and a sales video. Registering for this website is a registration for a broker/trading platform, which is usually unregulated. This means that the money is transferred from your wallet to the broker’s bank.

Fake Bitcoin Up Reviews

Multiple fake Bitcoin Up reviews have been spotted. Some of these should be considered paid advertisements or press releases. A well-respected industry-news website is the one that is reporting on the Bitcoin Up scam. The review was not intended to be an authentic or genuine evaluation of Bitcoin Up software. It is a promotion that should not be taken seriously. Fake reviews on Reddit and spam on TrustPilot were also found, as well as fake testimonials posted on different forums.

How Does it Work?

Bitcoin Up is a type of automated trading app that executes trades automatically without any human intervention. The company also mentions a club for bitcoin millionaires and “precise, accurate hands-free trading”, which is powered with an advanced algorithm. This is all! It is not worth discussing the back-testing protocols or success ratio.

Bitcoin Up Regulation

Recently, the FCA posted a warning on their website that alerted UK citizens to the fact that Bitcoin Up is owned by a company which “provides financial services in Britain without authorization.” Bitcoin Up isn’t a new scheme, and it has caught the attention of British regulatory entities. We are certain that this trend will continue, and the fraudulent trading software will be blacklisted in Germany by other regulatory agencies like ConSob and BaFin.

The FCA in the United Kingdom recently issued a strong warning and imposed various restrictions on the sale, marketing and distribution of CFDs and/or CFD related products. The FCA in the UK made specific mention of limit of leverage, closing positions and “standardised risk warning” which is intended to prevent excessive loss. Christopher Woolard, Executive Director of Strategy & Competition of the FCA, requested these restrictions. If you’re a UK resident, and need clarifications on scams like Bitcoin Up, please visit the FCA website.

Demo Access and Free Access? No!

It isn’t. You can expect to spend at least EUR250 and sometimes even more. Offshore Forex brokers will charge your credit card this money and will rip off you at every opportunity.

Summary About Bitcoin Up

We have blacklisted the Bitcoin Up scam software, and we are giving it two thumbs up! We couldn’t find any credible information on the Bitcoin Up sales page. As we expected, our EUR250 investment was lost and lost in minutes. We received approximately 12 calls over the phone from various European phone numbers within 10 minutes. Finally, we answered and informed our account manager that we had no money. The phone rang eventually, but we didn’t see any money or winnings.

What is a Chargeback?

Chargebacks are a way for your bank to reclaim funds from the merchant. We recommend that you contact us immediately to initiate the process. In a free consultation, we will discuss how to get your money back immediately!

Bitcoin Up: Video

You can also write a comment under the video on our YouTube channel to tell other traders about your experience. But if you’ve already been a victim, contact us for a free consultation by filling out the form at the top of the page.
Below you will find a short video about Bitcoin Up. Watch it so you don’t miss anything important. In a few minutes you’ll learn the whole truth about Bitcoin Up!