This is a Bitcoin Loophole Review, showcasing the problematic situation that this trading app is putting its users through with loads of unfulfilled promises being the order of the day. But what is Bitcoin Loophole?
Our report explores exactly what Bitcoin Loophole scam claims to be true about itself as well as proof that their claims are not backed with proof or reality.
Let’s get started!
Official Website: https://bitcoinloophole.co/lp.php
Bitcoin Loophole Review
Bitcoin LoopHole is the trading software owned by Bitcoin LoopHole LTD, a technology services company. Bitcoin Loophole is an automated Bitcoin and cryptocurrency trading software, which is said to automatically search the cryptocurrency markets and pick out profitable buy and sell signals. It has a lot of similarity of the Bitcoin Code Scam which we exposed back in 2017.
The software was developed by Steve Makay, in response to a call to develop a software which could enable clients of the Wall Street firm he worked for to trade Bitcoin and other cryptocurrencies. According to Makay, he was able to develop this private software within a year. His boss took the software, quit his job and began making money with it. Under strict instructions not to speak about the software, Makay tested it with $250 and got some outstanding results on his Bitcoin trades.
According to Makay who is a software developer by profession, he went on to perfect the Bitcoin Loophole, and that is how the software was born. According to an independent Bitcoin Loophole review, the software is based on an algorithm which follows Bitcoin trends and is, therefore, able to pick out buy and sell opportunities in the Bitcoin CFD market.
Assets Traded on Bitcoin Loophole Software
The Bitcoin Loophole was developed for trading Bitcoin, specifically the BTC/USD pairing on CFD platforms. However, it can be adapted to trade other cryptocurrencies.
How Does Bitcoin Loophole Scam Work
Are you interested in knowing how this software works? Read this section of the Bitcoin Loophole review to find out.
- The first step is to register for a free software account using your name and email address.
- You will be redirected to the broker’s page where you will have the opportunity to register for a trading account with the broker.
- After registering for an account with the preferred broker, you are to fund your account with a minimum of $250. If you wish to increase the minimum deposit, you can do so. This step is required to connect and activate your Bitcoin Loophole software license.
- A username and password will be issued to the user with which to log in. After logging in, you have to click the AutoTrade button to the “On” position to enable the Bitcoin Loophole software do the trading for you.
The Bitcoin market is a 24-hour market which runs for seven days a week, non-stop, so Bitcoin Loophole is programmed to trade round-the-clock.
Cost
Bitcoin Loophole is available for free at this time, but the trader is required to open a brokerage account and fund it with a trading capital of at least $250. Limited memberships are available for free. It is likely that charges will be introduced once the spaces are filled.
Profitability
The Bitcoin Loophole programmer, David Makay, claimed to have made $13,000 in the first day of trading. This was achieved without performing any withdrawals, meaning that the returns were achieved using compound interest.
However, our Bitcoin Loophole Review shows that others have not been able to replicate these results. The software does not make anywhere close to what is claimed by Makay’s team.
There is, therefore, a lot of doubt as to whether this software has ever made any profits in the market. Even the brokers on which the software is programmed to work are unregulated brokers with lots of complaints and claims of unpaid withdrawals.
Customer Support
The only form of customer support for Bitcoin Loophole users is via email at [email protected]
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Conclusion: Is Bitcoin Loophole a Scam?
This has been a Bitcoin Loophole Review, showcasing several aspects of its performance. This software is a complete scam. First and foremost, the does not make any profits. Many traders have never been able to make any money, let alone withdraw any profits.
Points to Remember about the Bitcoin Loophole Scam
- Keep in mind that at no point did Steve Makay ever show you proof that his automated trading software works.
- There are NO real user reviews that prove his software makes money.
- Even Steve Makay himself is most likely a fraud as we couldn’t find any information verifying his identity.
Moreover, the format of advertising of Bitcoin Loophole is similar to the scams seen in the binary options market. All Bitcoin Loophole will do is get traders to lose money. The only winners here are Makay and his team, who are paid commissions by the brokers for every new registration.
Bitcoin Loophole is a scam. You should skip this one and save your money for regulated trading that delivers real results with five-star ratings!
If you need any investment advice, don’t hesitate to send us a message!
Patrick Hacker says
February 7, 2018 at 7:41 pmHi Bassam,
I’ve enjoyed reading your posts for quite some time. However I live in California and your recommended traders (CM and eToro) aren’t available to U.S, citizens. Do you have any recommendations in this regard. I’ve heard that Nadex is based in the U,S. and is regulated. Could you possibly do a review of them for those of us in the U.S.? Or perhaps just let me know what you think of them.
Thank you.
Bassam Jamal says
February 7, 2018 at 9:21 pmHi Patrick. We will definitely review nadex.
We will do a full review on them soon.
Thanks!