All results

Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
post

Bitcoineer Review: Not The Pioneering Service They Pretend To Be

Bitcoineer Review

We know this is going to be difficult to believe, but the name “Bitcoineer” has become somewhat common with online platforms far and wide. There’s a slew of different services including exchanges, trading tools, tutelage courses, whatever rocks your boat. The vast majority of them are total scams of their own accord.

In order to present this Bitcoineer review with as little confusion as possible, we will focus on bitcoineer.app domain in particular.

General information
Name Bitcoineer
Type of the company Broker
Regulation status Regulated / Unregulated / Offshore / Not expected
Warnings from Financial Regulators No official warnings
Website link bitcoineer.app
Active since 2022
Registered in N/A
Contact info Data is hidden
Trading platforms None
Majority of clients are from Germany, Austria, Switzerland, Belgium, Spain
Customer support No
Compensation fund No

Concerning Legal Aspects

This company is a good example of how anonymous conduct operates. They do not reveal a single source of information that would make them at least appear legit. When not even the address of the business is available to the public, it is apparent that they have something seriously wrong to hide. 

Usually, there would at least be hints and clues in the legal documents, but this swindler makes sure there’s no slip ups. Additionally, the only way to get in touch is through the user area that we could not gain access to. By now, everything seems to be pointing at predatory behavior directed towards newbie crypto investors who want to make it big quick. 

That’s certainly one of the reasons why Bitcoin Code also imposes a considerable threat to Forex and crypto markets newcomers, so beware of them as well.

Variations of the Same Scam or Just a Coincidence?

While trying to determine who is behind this shady website, we looked through various databases kept by prominent regulators like FCA, ASIC, NFA, and CySEC. Crypto trading providers are obligated to obtain a license for all of their activities that involve taking money from their users. Bitcoineer appears in no register as a licensed entity.

However, other things we discovered can’t mean any good. You see, there’re several quite similarly sounding domains that are engaged in selling similar services and they’re all without valid certificates for such activities. 

Among them are bitcoin-eer.app and thebitcoineerapp.com. The connection between all of these is unclear, but they could be the same scammer under a different disguise.

How To Recognise Red Flags

These fake companies, including Novotrend for instance, are called boiler rooms. Their employees are boiler room agents, and usually work in a similar manner to a telemarketer – they go through the phonebook, and peddle some product. Unlike telemarketers, however, these agents don’t stop when you ask them politely.

They call over and over again, offering increasingly lucrative opportunities in return for what is described as a small investment. When you ask for some concrete data such as regulation, they will often change the subject or start taunting you.

It’s best to just hang up the phone and minimize your interaction with them. If you’re looking for a tried and tested opportunity at starting a Forex trading career, have a look at what we have to offer on our site.

Services Advertised

First look at the website provides conflicting information. The fraudsters have purposely omitted all of the crucial information related to their services and features. That was done for the purpose of forcing you to sign up first, so they’d get their hands on your personal information and contact details. 

Considering we’re dealing with a completely unregulated firm, it’s highly questionable if any of the advertised features are even available and if the user area reveals anything more than the home page.

Bitcoineer Trading

The Bitcoineer crypto exchange and trading portal, as the website introduces itself, offers trading services on digital currencies. It remains a mystery if the trading domain is their main focus at all. 

You see, nowhere is it shown or stated what software solution is provided for the trading activities. Details that at least remotely resemble market movement is the simple widget that displays current values of several crypto currencies against USD. Despite the claims of brokerage services provided under most amiable conditions, there isn’t a single proof for that. 

Knowledge

Special accent the website puts on learning. Their allegedly prestigious training programs are provided by successful traders, for other traders willing to expand their existing trading knowledge. 

Sadly, this part of the website also doesn’t reveal anything significant. How much the programs cost, what the campaign includes or who these alleged experts even are is also left out. The mentoring campaign should be set up according to each student’s affiliation and basic knowledge. That’s the main purpose of the one-on-one lessons.

Technologies

In addition to the questionable knowledge you are sold on this suspicious crypto portal, there’s also trading strategies. Proprietary technologies and methods are claimed to be 100% lucrative and never failing. Doesn’t that seem like just another carelessly promised feature that could never meet the expectations? Definitely. 

Sadly, all of the promised benefits are hidden behind a paywall and complex verification service. The entire deal rather looks like a data gathering scheme that sells your contact and other info to offshore schemers. 

What’s The Deal With Accounts?

It was impossible to tell which account types this company is offering. It’s called a “trading account” only once on the entire website. It should come with an account manager of sorts, and it includes a one-on-one mentoring program for the initial investment of £250, and that’s about all of the information there is.

What makes matters worse is that you can’t freely create one yourself. You need to send an application to the company, and they will, presumably after a bit of over-the-phone brainwashing, approve your registration. Access to the Bitcoineer platform is not possible without a working login, which prevents us from testing it.

Final Verdict

The Bitcoineer app should definitely not be the first choice for any curious crypto investor that has yet to explore the volatile word of online trading. As a matter of fact, we cannot say we’d recommend this devious scheme to anyone. Without a valid certificate, they’re just another untrustworthy portal in the sea of them, offering services they cannot vouch for. 

If you do not plan on risking your own capital but you wish to trade lucratively, we have an alternative to suggest: proprietary trading! You can book your zoom meeting with our company representatives and get all of the relevant info on how to get funded with up to $180,000 in one go!

FAQ

What is Bitcoineer?

It is a fake crypto exchange, broker and a learning tool that provides none of all the services advertised.

Is Bitcoineer Legit?

No, the company is completely anonymous and they lack a valid license for the activities they claim to engage in.

What is Proprietary Trading?

Prop trading is a great way to start your Forex journey by being funded by our company and trading with the best brokerage brands in the world!

Content navigation