- July 26, 2018
- Posted by: Michael
- Category: Untrusted brokers/systems
Do you remember when we made a review of the Bitcoin Code website? If you do, you will very quickly remember that Bitcoin System is just its copy. So let’s have a quick look at Steve McKay’s system.
Bitcoin System – Is it just another crypto scam?
The number of crypto scams that want to benefit from the popularity of Bitcoin and altcoins is rapidly increasing and one has to be always on a watch out. If you received an email offer from Bitcoin System or accidentally stumbled upon their website you should pay a very close attention to whether you do not see signs that would indicate that Bitcoin System is a scam.
What should you check before investing with Bitcoin System
In general, if something looks good to be true you should doubt its credibility. And the offer that Bitcoin System depicts looks exceptionally good. So, before you invest your money with this company, ask yourself these questions
- Is the profit that Bitcoin System advertises legitimate? Because no system can sustain paying out really high pay-outs on a regular basis for a long time period.
- Does Bitcoin System operate legally? All companies that provide investment advice needs to be regulated by an appropriate regulatory body. In Cyprus and Europe, it is usually CySEC, check its register to see whether Bitcoin System has a license or not.
- Correspond the terms and conditions with what is presented throughout the website? Or does the company distance from any liability?
- Do the testimonials that are featured on the Bitcoin System website look like stock images? Or like pictures of real investors?
- What do you know about the creator of the Bitcoin System system- Steve McKay? Is he a known figure in the crypto world? Or someone about whom you have never heard before?
Is Bitcoin System a scam or not?
While reviewing the Bitcoin System website we found several things that immediately raised a red flag to us. The best approach when determining whether Bitcoin System 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 System do not hesitate to share them with us in the comment section below.