Cryptocurrency is still considered new in the investing or trading world but it has already garnered a lot of attention.
This is especially after the most popular cryptocurrency, Bitcoin (BTC), reached a peak value of $20,000 for 1 BTC.
This peak didn’t really last long. The price of 1 BTC, as of this writing, is at $9,123. It is still relatively high, which is why people haven’t been deterred from trying to make money investing or trading cryptocurrencies.
Of course, this is easier said than done, as it is not that easy to make money in the cryptocurrency market due to its volatility, similar to that of the stock and forex market.
There are more people losing money investing or trading in cryptocurrencies than people making money.
This is why trading software is gaining popularity. This software is marketed to help you make a profit trading in cryptocurrencies.
One such software is called Bitcoin Loophole. It’s an automated trading software that says it can help you make money trading cryptocurrencies.
In fact, the creator of the software claims that you can make as much as $13,000 within 24 hours of using the software.
This is a huge amount of money and it would be great if this was true, lets find out in this review. We’ll see if Bitcoin Loophole is a legit opportunity or just a scam to avoid.
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Bitcoin Loophole Seems Like A Big Scam that You Should Stay Away From
Bitcoin Loophole is an automated trading software that is said to allow you to automatically make cryptocurrency trades that are profitable.
Steve McKay, a software developer turned investor, is the one who created this trading software. In his sales video, he claims that you can make $13,000 within 24 hours of using the software.
As enticing as this all sounds, it seems all of this is just one big scam. The software won’t really help you make money trading in cryptocurrency.
It seems you are likely to lose more money with the software than to make money. There are actually several red flags that put it in scam territory.
The chief red flag is the fact that the supposed creator or owner of this software is just a created character. Another red flag is the exaggerated and overhyped earning potential that Bitcoin Loophole promotes.
The site also makes use of fake testimonials to make it look legit. They even go as far as to steal photos to make the testimonial look legitimate.
Bitcoin Loophole has also changed the domain name and it uses unreliable and scammy online brokers for the trading platform.
I’ll discuss all of these red flags in more detail as we progress further in this review.
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Who Uses Bitcoin Loophole?
Bitcoin Loophole is an automated trading software that is designed to supposedly help you make money trading cryptocurrencies.
The software is said to have a very high success rate, allowing you to make profits from the majority of the trading signals that the software provides.
However, it seems this opportunity is really just a big scam after your information and your money. There are several red flags about this opportunity that puts it into scam territory.
In the next section, I’ll discuss in more detail the red flags that Bitcoin Loophole has and how it really works.
Why is Bitcoin Loophole Considered A Scam?
Bitcoin Loophole is marketed as a solution to your money problems since it is an automated trading software that can earn you money trading cryptocurrencies.
It’s creator, Steve McKay says that his software can even earn you as much as $13,000 in just 24 hours of using it or $500 an hour.
A bold claim that is sure to attract a lot of people, especially those who are desperate for money. Unfortunately, the claim is not true as you won’t get anywhere near this kind of earning from this software.
Heck, you’d even be lucky to earn consistent money using Bitcoin Loophole. The software is really just a random signals generator that won’t provide consistent winning trades.
A lot of people have actually complained that they only lost money using this trading software. You might find several reviewers or commenters who claimed to make money.
But it seems these reviews are either fake or just paid, so it’s really hard to trust their statements. But this is not the only issue that Bitcoin Loophole has.
There are actually several red flags with this opportunity, which is why it is considered a scam. Chief among the red flag is the real identity of the software’s owner.
Steve McKay is really just a created character. If you do a search about this person, you won’t find someone that matches the name with the credentials stated in the sales video.
The photo of the person is taken from a stock photo. Even the supposed Forbes Magazine cover page shown in the video is edited. The real cover of the magazine shows that it was actually Ashton Kutcher. The creators edited the face of the stock photo from the magazine to make it appear that Steve McKay is on the cover.
Another red flag about this opportunity is its overhyped and misleading income potential. The creator of the software claims that you can earn $500 an hour or $13,000 in 24 hours using the software.
They even say that with Bitcoin Loophole, you won’t have to worry about your finances ever again. It is important to remember that there is no evidence that this is really true.
If this was true, you’d likely hear more about this opportunity in news and social media. In reality, the only thing you hear about this software is how much of a scam it is.
Now, there is still a small possibility that trade signal they generate could result in a profitable trade. But this is not guaranteed.
And based on what people who have tried it are saying, you are more likely to lose money here than earn it.
Oh, and don’t believe the supposed testimonials from people who made money using the software. All of them are just fake or paid to say these things, which is yet another red flag about this opportunity.
The testimonials with the photos are already proven to be fake as the photos used are all taken from other sites. The FB posts or comments are likely paid, or they’ve used dummy accounts.
These things are not that hard to do and these scammers will likely do everything to make their opportunity sound legit.
Another red flag I identified is that Bitcoin Loophole has already changed domain names several times. As of this writing, the site is using https://btc-loophole.com/.
Other reviewers found the opportunity on this site https://bitcoinloophole.co/lp.php, but this site is no longer operating.
Now, it seems this opportunity is now being marketed as Bitcoin Secret Loophole, If this is really a legitimate opportunity, then there’s really no need to have to use so many domain names or even change its name completely.
The sales video also claims that this opportunity is available for free. This is not completely true since you’ll be required to make a $250 deposit on their recommended brokers to be able to use the software.
This brings us to the last red flag with Bitcoin Loophole, which is the fact that its recommended cryptocurrency brokers are known fraudsters.
It seems like this opportunity is more of a tactic that these fraudulent brokers created to have people deposit their money to their brokerage firm to get their information.
What I Like about Bitcoin Loophole
Now that we know what Bitcoin Loophole is and what it is offering, it’s time to discuss what is good about this opportunity.
- Honestly, there’s really nothing to like about Bitcoin Loophole. This opportunity doesn’t really provide anything positive, so there’s no reason for me to like anything about them. It’s just a big scam that is out to get your money and email address to send you more scam opportunities that they are offering.
What I Dislike about Bitcoin Loophole
When it comes to things that I dislike about Bitcoin Loophole, there are actually a lot of them. But I’ll only focus on the important ones that you should know.
- The first thing that I dislike about Bitcoin Loophole is that the identity of the owner is just a big lie. If you do a search about Steve McKay, you won’t really find a person that matches the face and credentials they provided in the sales video, which goes against the statement that he is well-known. This is because he is just a created character. The photos used were just stolen from another image and the photo of a Forbes Magazine cover is edited.
- Another issue I have with Bitcoin Loophole is that it is very misleading about the income potential that of the software and in trading cryptocurrencies. First, don’t expect to earn a lot of money using their trading software as it won’t even make you any consistent money. Secondly, trading cryptocurrencies is not a sure thing. Yes, it’s possible to make money with trading in this market, but it’s not guaranteed. There are also risks involved and you could end up by losing a lot of money if you don’t know what you are doing or what you are getting yourself into.
- Another important issue with Bitcoin Loophole is that it is not a free opportunity. The sales video says it is available for free, but in reality, it isn’t. You’ll be required to deposit at least $250 to their recommended brokers to gain access to the software. So you’re not really getting this for free, as stated in the video.
- Speaking of cryptocurrency brokers, you should also know that the brokers that Bitcoin Loophole recommends are known fraudsters. These offshore brokers don’t care about investors well-being and are really only after people spending money on their accounts. They’ll also constantly spam you with offers and deals to entice you to put in more money.
Do I Recommend Bitcoin Loophole?
After learning more about Bitcoin Loophole and what it can really bring to the table, I would say that this is an opportunity that I don’t recommend to anyone.
A lot of reviews and comments have shown that this opportunity doesn’t really make you any money and if it does, it is nowhere near the amounts they are stating in the sales video.
It’s also proven that this site uses fake and misleading tactics to make themselves look legitimate and entice people to provide their information and invest their money.
The fact that the supposed creator of the software, Steve McKay, is just a created character should already be enough to tell you that this opportunity won’t’ get you anywhere.
Now you might find positive reviews about Bitcoin Loophole and of people making money from it. These reviews are paid, so they’re not going to tell you the real truth about this opportunity.
If you really want to make money with cryptocurrency, I suggest you take the time to learn about it and understand how it works before you start pouring in your money.
Once you understand it, it will be easier for you to learn how you can profit from trading or investing in cryptocurrencies.