Bitcoin Loophole Review: A Trending Scam In Crypto

Bitcoin Loophole Review: A Trending Scam In Crypto

With the global pandemic costing the world 20M+ jobs this year, a lot of people are struggling to break even on a monthly basis. Many of these people are seeking freelance gigs, or other “investment opportunities” to generate income. Despite COVID-19 causing economic chaos across the globe, Bitcoin has been one of the best-performing assets in 2020. The asset class has been highly non-correlated to traditional markets and is also drawing the attention of Wall Street. As Bitcoin shatters new all-time highs this year, it has also opened the door to scams that are capitalizing on new retail investors. Today we present a Bitcoin Loophole Review. 

Bitcoin Loophole

Bitcoin, the world’s largest cryptocurrency by market cap, recently cracked its all-time high. The digital asset powered through $19,600 levels which have not occurred since 2017. At the time of this article, Bitcoin is currently trading at $19,216. Aside from many institutional players getting involved in Bitcoin this year, retail investors that missed the rally in 2017 are also hoping to catch the parabolic move.

With Bitcoin surging +160% year to date, we took a look at Google Trends, which provides search metrics. It was very interesting to see “Bitcoin Loophole” being one of the top searches relating to Bitcoin.

bitcoin loophole review
Source: Google Trends

Bitcoin Loophole Review

Bitcoin Loophole is an algorithmic crypto trading app according to its website. The trading app also states that its platform is powered by artificial intelligence. This means that people can deposit money and take advantage of automated investments. These types of platforms tend to thrive in markets where first-time investors believe they can make quick profits. The platform even places a cherry on top by stating on their homepage:

“You Could Earn Your First Million Trading with Bitcoin Loophole”

The platform even states that it offers a 99% win rate due to leveraging blockchain technology, deep learning, and natural language processing. Whenever a platform states a win rate like this, it should always be a red flag. Despite promising a 99% win rate, Bitcoin Loophole then puts on their homepage:

“All bitcoin trading carries significant risk.”

When is the last time something with a 99% win rate carried significant risk? Something does not add up here.

Red Flags

When a user first visits the website, they can quickly tell that Bitcoin Loophole is using all sorts of stock images. If you visit Pixabay or Unsplash and perform some research, you will see that Bitcoin Loophole is leveraging these sites for “free to use images.”

bitcoin loophole review
Source: Bitcoin Loophole

The images of “winners” on their site seem to be stock photos that are also available online. Bitcoin Loophole actually revamped this section after Bitcoin.com covered its site in May of this year. In their report, Bitcoin.com shared the following image below.

Bitcoin Loophole Scam
Source: Bitcoin.com

Earlier this year, Bitcoin Loophole had this image on their website. In their testimonials, they had people from the united states winning thousands of dollars. According to Bitcoin.com, when they signed up for an account on the platform, it told them that U.S customers were not allowed. If this was the case, how could their top winners be living in the United States? The website now has appeared to take these testimonials down. They replaced them with new images that do not have a location affiliated to the various “winners.”

Live Profit Results

Bitcoin Loophole has a “live profits” section on their homepage that displays a bunch of “winners.” According to the feed, nobody has won money on the platform since 6/12/2020. With the proposed 99% win rate, this makes no sense at all.

bitcoin loophole scam
Source: Bitcoin Loophole

No Section About The Company

Other than a few disclosures at the bottom of the site, there is no information on the company whatsoever. This has to be a red flag for any person that visits this site for the first time. A company that does not have any contact information or business address can not be trusted. After reviewing the site’s privacy policy and terms, general information is nowhere to be found. If there was a business name referenced on the site, it could easily be verified through a simple Google search.

“Is Bitcoin Loophole legit? The Verdict”

It was also quite comedic to find this text on their homepage. When is the last time you saw a legit entity put anything like this on their website? Since Bitcoin Loophole has been labeled a scam by a few other media agencies, this is something they did to hopefully win over first-time users that are experiencing “cold feet.”

How Does This Happen – PR Stunt?

Even though we have no idea how much money has been funneled through this protocol, you have to wonder how it gained traction in the first place. After review, it is evident that Bitcoin Loophole is a scam that is attempting to take advantage of uneducated first-time investors in the crypto space. After a bit of research, Google’s algorithm could be the catalyst here. 

Bitcoin Loophole Labeled As Legit

The Google algorithm will display top content based on a source’s domain authority and many other factors. This is the reason that so many people try to get on the first page of Google through SEO. If somebody searches “Bitcoin Loophole legit” on Google, it automatically spits out that the platform is totally legit.

bitcoin loophole scam
Source: Google screenshot

It does this by pulling a press release from Globalnewswire. In that press release, it states that the platform is legit due to a lot of testimonials. Based on our current discussion above regarding testimonials, this is quite interesting.

With the way Google is processing content, press releases become even more powerful. If you just search “Bitcoin Loophole” on Google, the first result is AP News. This media source republished another PR that was sourced from Wired Release. In this PR, it is another article stating that Bitcoin Loophole is legit.

bitcoin loophole scam
Source: Google Snapshot

This is now creating an environment where both Google and individuals are considering a platform to be legit based on a couple of press releases. With Bitcoin and other digital assets emerging, it is always important to do your own research before making any investment decisions. Based on our example above, you can see how this has never been more important.

This material has been prepared for informational purposes only and is the opinion of the author, and is not intended to provide, and should not be relied on for, investment, tax, legal, accounting advice. You should consult your own investment, tax, legal and accounting advisors before engaging in any transaction. This article was sourced by Visionary Financial

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