There have been rumours that Bitcoin Compass is a scam that people should avoid. To find out whether this statement true or not we decided to make a review of the Bitcoin Compass system.
Bitcoin Compass – Can you trust the software?
Bitcoin Compass is relatively new trading software that occurred on the internet just recently. This system targets especially the UK and Australian citizens, but they probably accept clients from all countries. One interesting thing I noticed right from the beginning is a link to their page called Government Disclaimer. If you visit this post, you will find out that it is a U.S. Government Required Disclaimer in which you can read that margin trading is very risky, and not suitable for all investors et cetera. What this page, however, does not mention is that margin based trading i.e. CFD trading is prohibited in the US and no licensed broker can legally operate legally in the US. Luckily for Bitcoin Compass, the company cooperates with an unregulated company called Brighter Trade which can do whatever it pleases…
Bitcoin Compass claims and testimonials
The first thing which you should do when reviewing a new site that might be possibly a scam is to check what they promise and whether their claims are realistic. When we look at the offer Bitcoin Compass advertises we can see that there are 4 people that allegedly made a profit between $28k to $642k. There is, however, no proof that they made this profit by using the Bitcoin Compass software. What is also missing is how the system actually works. The only thing that is given to us are these 3 words “precision performance”, “top technology”, “trusted trading”. Don’t get me wrong, I enjoy seeing these fancy phrases, but I lack any explanation of how the software actually functions. This is like the first thing you want to know when considering using any software, especially if you plan to put money to a broker where you can use it.
Now…did you enjoy reading the lovely testimonials? If so, embrace yourself and scroll down on the page to see in the footer this piece of information
*Testimonials: All characters, information and events depicted on This Website are entirely fictitious. Any similarity to actual events or persons, living or dead, is purely coincidental.
So here you go, Mark Rilance and his story how he made $642,058 by using Bitcoin Compass is a scam, the author says it himself. If you would still think that the Bitcoin Compass testimonials are not fake, just switch to the German version of the website, you will find out that the very some people have now completely different names. (Of course, names that sound more German to better target their German audience)
Things that most scams do
Systems similar to Bitcoin compass, know that they have to do everything they possibly can to make you register right away. If they do not convince you to invest at the first moment, their chances you will use their system rapidly drop. Why? Because you will think through about the offer or you decide to talk to your friends who tell you it sounds at best shady.
To avoid such scenario they mention that it is an exclusive offer that will be soon be gone. This should mean for your you that you need to seize the chance while you still can! Bitcoin compass uses this particular technique as well, just have a look at their top bar “We are getting an unprecedented number of new users. 04/11/2018 – 5:00”. This means they want to make you think that if you do not act now and register before this countdown your chance to participate in this program will as good as gone. Trust me, this is absolutely not true. I waited for the whole 5 minutes only to see that the countdown did reset itself and started again on 5 minutes.
Did you notice how in the right top corner always appear a flag of your country and some name with a random amount? If you wondered how is it possible that there is always the flag of your country, I will explain it to you. It is because the web scans your IP adress to find out from which country you came. By doing so, they make the Bitcoin Compass offer more targeted and some people might think “Oh, so many people from my country already benefit from using this system, they cannot be wrong, right?”. It is not that they would be wrong it is just non of these people actually exist…
Is Bitcoin Compass a scam or not?
While reviewing the Bitcoin Compass website we found several things that immediately raised a red flag to us. The best approach when determining whether Bitcoin Compass is a scam or not is to use common sense. Whilst this might sound like an obvious thing to do, people often forget about it when they see the vision of things that they could purchase with the money they would theoretically earn. In case you would like to try crypto trading with companies that are 100% legitimate, licensed by CySEC and trusted by millions of traders, visit our article “How to open a free crypto account”.
If you already have any experience with Bitcoin Compass do not hesitate to share them with us in the comment section below.
Average rating of the Bitcoin Compass system
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Any thoughts on Ethereum and its future?
To be honest my view towards Ethereum have always been very positive and I hope that the current decline in the crypto market is just a short term thing. But I don’t dare to do any predictions, especially not short term ones.
Hi Michael thanks for your research into Bitcoin Compass, i was glad to find your website i WONT be putting any money into Bitcoin Compass in the future.
If i decided to trade i will contact your company.
You are welcome :). We are just educational website, so it is not possible to trade with us. That being said, we can recommend you some decent brokers that operate in the crypto sphere.