Get Into Cryptocurrency Trading Today

The markets are in turmoil due to COVID 19, and investors are looking for alternative investment opportunities. Bitcoin and other cryptocurrencies such as Ethereum and Ripple are leading the way as digital assets are gaining more lustre due to potentially higher ROI.

This trend has not escaped the attention of scammers who see that Bitcoin is gaining popularity with more people and perceived as a legitimate currency by traditional investors and opinion-makers such as Mike Novogratz, Elon Musk, and Bill Gates.

This is where Bitcoin Era enters the picture. Bitcoin Era is a website which claims to make you a millionaire if you signup for the software and make an initial investment. These types of claims are usually associated with various get-rich-quick schemes, and it seems this service is no different.

Holly Willoughby and Phillip Schofield, This Morning UK

Scammers target victims by luring them into fake (spoofed) news websites which are supposedly endorsed by celebrities or high-profile individuals who brag about how much money they made using a certain type of trading system.

After clicking the links, viewers are directed into the actual sales page or what is commonly referred to as a sales funnel (see below).

In their morning show, Willoughby and Schofield interview various celebrities such as Prince Harry and Meghan, Bear Grylls, Daniel Craig, James McAvoy, Gordon Ramsay, and others. When viewers see the fake news page, they let their guard down since they tend to believe what celebrities are saying.

That is the most deceptive part of the scam and the reason why victims tend to take the bait in so many cases.

What Is The Connection Between Cryptocurrencies and CFDs?

CFD's or contracts for difference are actually derivatives which can be bought or sold. The profit margins are based on the underlying assets and how much you choose to speculate in regards to the price.

As opposed to stocks for example, in CFD's you don't actually have to own the actual asset. You merely guess if the contract will expire above or below the resistance line. Guess correctly and the profit is yours.

When CFD brokers started accepting cryptocurrencies about 5 years ago, the whole get-rich-quick scene started to explode. That is because there was a transition from the Binary Options industry into the booming new niche of virtual currencies.

Alas, the old scammers found a new environment ready for the taking and completely ripe with opportunities. Since then scams such as the Bitcoin Era have flourished and evolved into cookie-cutter or cloned scams.

That means there is a kind of website production line where existing templates are recycled and used time and time again with only minor changes being made to the logo and colour palette.

Illegal Offshore Forex Brokers

The main culprits behind these types of schemes are affiliate networks who work closely with unregulated offshore brokers. The brokers are the clients for all intents and purposes, and the affiliate networks are the ones who are responsible for delivering paying customers.

These affiliates or promoters receive massive referral payments for each paying customer they send over. And when the fees are that high, these promoters will say anything to get their customers to invest.

No Disclosure or Risk Clause!

Trading online carries significant risk to your investment. But you will need a magnifying glass to see the disclosure and terms sections located way down at the bottom of the website.

Regulators are particularly sensitive to lack of transparency and anonymity when it comes to trading online, and with good reason. A scam like Bitcoin Era thrive on anonymity and need it to succeed.

Bitcoin Era Deemed To Be Suspicious By McAfee WebAdvisor

If you look at the image below you will see that this website has been blacklisted by McAfee and considered to be “suspicious”.

We opened their site report and realized that this website is trying to “rob or steal consumers” by selling counterfeit products or promoting “fraudulent” activity under false pretences.

This usually happens when customers complain about being cheated or paying for something but not getting anything in return. In other words, McAfee is saying that this website is a scam and warning viewers to keep their distance.

Sign Of The Times!

People are always looking for an easy way to generate some passive income, be it online or not. Bitcoin Era is a perfect example of how savvy online marketers are exploiting this need by tapping into the emotional aspects of victims who are professionally referred to as “opportunity-seekers”.

This type of customer profile is ready to try anything once and willing to avoid the facts even if they are staring at him in the face.

The reasons for this vary, but we know that people from all walks of life have been baited and scammed out of their money after signing up for similar schemes.

How To Avoid Scams Like Bitcoin Era

The first rule of thumb is “if its too good to be true it usually is”. Secondly, it’s highly recommended to do some proper research and fact-checking before joining anything which carries such a high level of risk. Finally, if you are unsure or hesitant simply ask your friends or loved ones.

Usually, they will tell you the truth and save you a pretty penny. It’s also smart to avoid people who message you on Telegram or Facebook since there is no way to know who these individuals are and in most cases, these scammers are affiliate marketers using fake profiles and using affiliate links.

In a nutshell, when in doubt a grain of salt and a hefty dose of scepticism will always save the day.

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