Bit-time.ltd Review Why Waste Your Money on Bitcoin Doubler

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How to Red Flag Scams: Bitcoin Doubler Club, Cryptomia247, Mining Cheap, Orelex, and Wintrust

Last week’s news.Bitcoin.com post warning about common bitcoin scams like “The Bitcoin Code” elicited a plethora of comments and suggestions from readers, asking about and reporting other platforms and services claiming to provide bitcoin investment opportunities. This article examines some of these, and most importantly seeks to provide readers with basic tips for recognizing the general MO of these scam sites before their wallet is SOL.

How to Spot a Scam

When the bitcoin price goes up, and times are already hard for so many individuals financially, scammers have an ideal market for working their wiles and taking naive and unsuspecting victims for all the crypto they can.

As was emphasized in the previous article on the topic, the number one giveaway that something is a scam remains unchanged: if it sounds too good to be true, it almost always is. So before ending up rekt by trying to get rich quick, readers should have a look at the popular scams below and get a feel for their respective modi operandi.

Bitcoindoubler.club

As will quickly become apparent, many scams operate on this template:

  1. Wow victims with too-good-to-be-true promises of financial gains and returns.
  2. Get the user to register an email address or bitcoin address to provide an air of legitimacy.
  3. Have users make their first (and last) deposit.

Bitcoindoubler.club is no different. It is easy to recognize as a scam from the concept itself. Nobody can double someone’s bitcoins in 24 hours as a free service. The introductory text on the website also gives it away:

“We produce bitcoin mining machines that work extremely high levels,” is a vague statement with no real meaning. Notice the awkward English, big promises and bad grammar:

Yes you did not hear wrong, now this service is still paying. Surprisingly, you cannot experience unwanted events. Remember, our goal is to please you .. There is no better advertising marketing than this. Attention: There are many similar sites on the market. Ignore them! Check your address bar! It is a certified and verified system!

This site says there is no way to lose. In investing, however — as any experienced individual knows — there are always many ways to lose. Bitcoindoubler.club demands a minimum 0.003 BTC deposit to participate which, if sent, will be gone forever in a flash.

Wintrust Expert Options

The “Wintrust Expert Options” scam provides a little comic relief with its unique selling point of “beautiful managers in video chat.” It should go without saying though that such a detail is probably impertinent to the operations of any legit forex and crypto investment service.

Like the bitcoin doubler club site, this one promises returns in crypto trading (which are never a guarantee) in a remarkably short time period: “Invest and earn up to 95% in 60 seconds.” Though the sales pitch is different, with Wintrust focusing on trading, and the doubler site focusing on some vague mining magic, the underlying ripoff is the same: sign up, deposit money (either crypto or fiat in this case) and lose it.

When news.Bitcoin.com attempted to use the 24/7 live chat assistance to ask about a platform demo, not surprisingly, no one answered.

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Note the vague and meaningless claims. “Regulated.”

Orelex

When your team looks this stock photo-y, watch out — you’re probably a scam. The page for “Orelex Financial Services” features a stock image that is easily reverse image searched on Google, revealing that the airbrushed characters in the picture are certainly not the Orelex team.

Investing in “crypography technology” the site promises users ” Sustainable Earnings = Master Business Plan X Customer Certainty.” If the spelling errors and bad grammar are not convincing enough, questionable testimonials from users (another common element of scam pages) saying things like “everythin is good” and multiple repeated comments are further red flags. Plus, the social media links do not lead anywhere. In short, users who don’t want their crypto wallets to be as broke as the site should steer clear.

Miningcheap.io

Another common front for bitcoin scams is to pose as a mining pool. While mining bitcoin can indeed be profitable, it is not effortless, and the fake mining websites give themselves away in the same manner as the others, promising easy gains via vague language designed to dupe those who haven’t done their due diligence in learning about the topic.

Mining Cheap says they are “an industry leading Bitcoin mining pool,” but a quick check of prominent bitcoin pools doesn’t show them anywhere to be found. The site also tries to combine gambling with mining, by giving those that make a deposit “free spins.” Similar fake mining sites exist, so those interested in joining a real mining pool as an investment should be sure to examine all possible options with a very critical eye. Like the other scams Mining Cheap has users sign up, make a deposit, and then promises quick returns which never come.

Cryptomia247

Cryptomia247 is a fake trading website promising an alluring lifestyle of wealthy digital nomadism:

After you have made a deposit, there is nothing else to do except watch your earnings grow in your account every day. This can be fun, because it means you can be anywhere you want to be in the world, and your capital will still be growing in your account every day, even without you doing anything!

The site features the now familiar one-two-three pattern of promise, register/deposit, lose. The giveaways of poor web design, broken links, and nonsensical offers described in poor English are also present.

Cryptomia247’s plan description is accidentally honest. The money deposited will indeed be gone forever.

Noticing Patterns to Stay Safe

It would be impossible to list all the hundreds or possibly thousands of similar bitcoin and crypto scam sites on the internet today. Those who have shiny bitcoin “B” signs in their eyes would do well to step back and closely examine any site promising them the financial world on a platter for next to nothing; because while investing in the scams listed above may pay for a yacht or nice lifestyle, rest assured it won’t be the victim’s.

Thankfully there are plenty of sound investment, trading, and mining opportunities out there, but they all require something scam platforms do not: hard work, time, and due diligence in research.

What other scam sites are you aware of? What are some other common red flags? Let us know in the comments section below.

Disclaimer: This article is for informational purposes only. It is not an offer or solicitation of an offer to buy or sell, or a recommendation, endorsement, or sponsorship of any products, services, or companies. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Images courtesy of Shutterstock, fair use.

Did you know you can verify any unconfirmed Bitcoin transaction with our Bitcoin Block Explorer tool? Simply complete a Bitcoin address search to view it on the blockchain. Plus, visit our Bitcoin Charts to see what’s happening in the industry.

Don’t Invest in Bitcoin Code, Bitcoin Doubler or Bitcoin Trader – They Are All Scams

Those new to crypto and with money signs in their eyes can easily be taken in by scams, and there are many, thanks to the decentralized nature of bitcoin and the lack of knowledge surrounding it for beginners. Promises of easy and incredible gains thanks to the guidance of some shadowy “bitcoin expert” or auto trading software abound, and the wise old rule of thumb still applies: if it sounds too good to be true, it probably is. This article describes three of the most infamous crypto scam sites, all of which promise to automatically trade for the user.

Common Bitcoin Cons

The word “con-artist” is shorthand for “confidence artist.” The way cons work is to gain the confidence of the mark, or victim, and then the rest is easy. The same holds true in the crypto space, and cons are especially easy to pull off when the victim knows little to nothing about the subject at hand.

What follows are descriptions of some of the most common con operations in bitcoin, and information on how to spot and avoid them.

The Bitcoin Code

The so-called “Bitcoin Code” is a scam operation whose website is continually changing. Like many scams, the website offers a service which is said to predict market trends and automate trading for users guaranteeing ridiculous gains such as “$13,000 in exactly 24 hours.”

While some may marvel at how anybody in their right mind could fall for such an outrageous claim, people knowing nothing about bitcoin often allow their lack of knowledge to woo them into thinking such things just might be possible. They also tend to imagine needing an expert’s guidance to “buy in,” or that crypto is a centralized affair like stock market brokerage. Many are too afraid of missing out.

Confirmation that Bitcoin Code is a scam is easy with a little internet sleuthing. Not only does a reverse image search of Bitcoin Code creator “Steve Mckay’s” picture show it to be a fake, but even the so-called testimonial videos on the site are phoney. The images below show a man featured in the Bitcoin Code’s promo video, who turns out to be an actor from e-gig website Fiverr.

“Investor” in the Bitcoin Code. banjoman15 on Fiverr.

Even top Google search results still give the Bitcoin Code good reviews and maintain it is not a scam. It’s important to remember that being a top search result does not mean a piece of content is reliable.

The multi-website, actor-leveraging scam that is Bitcoin Code is reported to have duped many already. The links lead to various websites all said to be the “Bitcoin Code.” Sometimes just to error messages. Bitcoin Code maintains “you must invest any amount you desire of $250 or more.” Just don’t expect to ever see it again.

Just because it’s a top Google search result, doesn’t mean the info is reliable.

Bitcoin Doubler

“Bitcoin Doubler” is another scam model, featured on multiple websites. Like Bitcoin Code, doublers promise insane gains in short periods of time, preying on the naivety and financial desperation of victims.

Spelling and grammatical errors such as those found on this “bitcoin doubler” site are common red flags.

These sites typically ask the user to enter an email and a bitcoin address, followed by a deposit. They are then instructed to wait for their big returns to arrive within mere days or hours. The returns, of course, do not arrive, and the only thing doubled is the mark’s financial woes.

Bitcoin Trader

Rounding out the list of scams sites is another “autotrader” scheme called “Bitcoin Trader.” As is common with crypto cons, urgent messages about a lack of time left to invest or get in, misappropriated images and video of famous millionaire or billionaire investors speaking highly of bitcoin, and location-customized “news” of the latest individual to make a killing are all present.

Common elements of bitcoin scams include urgent “time’s running out” messages, location-specific announcements of fake people nearby making money, and misappropriated celebrity endorsements of bitcoin.

Another dead giveaway that this “Bitcoin Trader” site is a scam is that it shares the exact same promotional text as featured on the Bitcoin Code site. Both sites maintain that “Like any business, you need working capital to get started,” and request the same amount of $250 to begin.

So whether a suspicious site promises exclusive use of “time leap” technology that is “ahead of the markets by 0.01 seconds,” or binary trading advantages that can’t be beat, remember: if it sounds too amazing, it almost always is. Binarysignalsadvise.com recently posted their own warning about Bitcoin Trader, stating:

The claims are so dumb that anyone can identify that they are false.

Staying Safe

For those genuinely interested in crypto, it’s important to learn about bitcoin’s underlying mechanics and the basics of how it works — and to vet all potential trading platforms and other crypto websites for authenticity — before making even the slightest move toward investment or trading.

Bitcoin allows users and users alone to hold their own private keys so the funds are never in the hands of some obscure “Steve Mckay.” It’s electronic cash that untrustworthy third parties cannot touch, if used properly. As far as the code underpinning the bitcoin network itself, it’s open source and viewable by all, and doesn’t require any sort of investment to investigate.

Did you know about these scams already? What are some other common methods crypto scammers use? Let us know in the comments section below.

Disclaimer: This article is for informational purposes only. It is not an offer or solicitation of an offer to buy or sell, or a recommendation, endorsement, or sponsorship of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Images courtesy of Shutterstock, fair use.

Bitcoin Doubler Review – SCAM Warning!

This is an in-depth and completely unbiased review of Bitcoin Doubler. As you can guess from the name, the website is a scam and we are about to expose it to the entire world in this article. It is our social obligation and duty to humanity to expose scams like Bitcoin Doubler and save a lot of people from the heartbreaks, headaches and stress that being scammed brings about. Read this with a pinch of salt and a smile on your face knowing that we always got your back, and most importantly share with your friends and family.

Update (July, 2020): There are a TON of Bitcoin Doubler scams. We set up a page that will be contstantly updated with the latest, most viral doublers. Check it out here: Most Viral Cryptocurrency and Bitcoin Doublers.

What is Bitcoin Doubler?

Bitcoin Doubler, which operates under the (corny) domain name bitcoin-doubler.tech, is an investment program which increases the value of deposits by up to 2 zeros. Supposedly, investors can earn returns of up to 100 times their investment within 24 hours in this program.

As the story goes, the Bitcoin Doubler was founded in 2020 by a team of “enthusiasts” who mistakenly discovered a small flaw in the “Bitcoin client,” whatever that is. In reality, the domain name bitcoin-doubler.tech was registered in 8th June 2020 – first lie caught, first red flag. Moving on, the small flaw turned out to not be that small after all as it enables them to multiply Bitcoins send to them up to 100 times. Of course they don’t want a lot of people to know (lest they copy) and so would we mind keeping it between us?

Back to the innovative team behind the Bitcoin Doubler program, they allegedly realized a weakness in the blockchain that allows them to add new positions. They then ‘double spend’ all the Bitcoins deposited by users and multiply them by up to 1000% (one thousand) of the original deposits. They then keep some to cover operating expenses and as profit and use the remainder to repay their investors in hundred fold – that is, their deposit multiplied by 100.

How does the Bitcoin Doubler program work?

As it is, the Bitcoin Doubler website is very scanty with the intricate details of how the program works but we did manage to extract some useful, albeit nonsensical information from the poorly written web content. So here’s how the site works: The first step involves sending some BTC to the site’s address as provided. No account registration is required (red flag!) and presumably no personal details are needed. The minimum deposit required is 0.035 BTC. After sending the money, a unique transaction ID is generated and serves as proof of deposit. The next step is to wait for 24 hours for your returns to be transferred to your wallet. And that’s about it.

Imagine how much Bitcoin you can make from this website in a week if everything was true? Hell, Forbes magazine would dedicate an edition to examining the Bitcoin revolution and TV hosts would be falling over themselves to host the team behind the website to explain their wonderful idea. Note the operating phrase is, IF it were true. Are we saying it isn’t true? Well.

Scam Test: How credible is Bitcoin Doubler?

In this section, we attempt to determine the credibility, or lack thereof of this site using a set of questions selected by our team from the hundreds sent by our readers based on their relevancy.

Does the website promise unbelievably high returns?

Yes. Bitcoin Doubler promises very high returns of up to 100 times the original investment in a single day. That simply means that, if for instance you deposit 1 BTC, you are bound to receive 100 BTC within 24 hours, and it comes with ZERO risks. Such kinds of returns can only be achieved in corrupt and illegal dealings and even those have some risks.

Is there any information about the owners on the site?

Not really. All we know is that the the website was created by a team of ‘programmers, brokers and investors’ who are passionate about Bitcoin. No more information is provided and as it is, we don’t know the names or the faces of those people. We can’t even tell how many they are and their job descriptions. Most importantly, we are not really sure that they even exist!

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A WHOIS query doesn’t help either since they are using a privacy service to hide their identities.

How old is the website?

Having been officially registered on February, Bitcoindoubler.tech is about 2 months old as at the time of writing this. We are surprised that the site has survived for that long with its terrible reputation and we do hope that it dies soon. That said, the site’s age is still below our recommended age of 6 months and above for websites requiring you to send money.

Apparently, they owned bitcoin-doubler.bid before. Seems like each time they get blocked, they open a new site with a different TLD. There are thousands of TLDs nowadays so they can potentially keep up with this scam indefinitely.

Bitcoin Doubler do have a Facebook page which, although barely active, is a great start. However, we found that the site actually has links and is most likely owned by the same person/people who also own Bitcoin-price.bid and thebitcoiner.bid, both of which are certified scams. We couldn’t find any credible site linking to Bitcoin Doubler which says a lot about the site.

Does the site have a physical address?

To put it simply, the only address provided on the website is the support email address. There is no phone number or office address for mailing purposes or any other form of address. The Bitcoin Doubler website is also registered under an unknown jurisdiction, thanks to WHO.IS, which makes it impossible for us to get any details on its location or owners. It also means that you have no way of tracking them if they disappear with your money, and trust they will.

How does the site rank on Alexa?

As at the time of writing this report, Bitcoindoubler.tech had a global ranking of 642,281 on Alexa.com. Most of its visitors seem to be from Brazil, India, United States, Indonesia, Nigeria, Malaysia, Pakistan and Bulgaria.

Conclusion

The scam test above proves that Bitcoindoubler.tech is a scam created for the sole purpose of enriching the owners who, as you have seen, also operate several other scams. Keep away from this site and the others mentioned herein if you value your money and your time.

Verdit: Bitcoin Doubler is a SCAM!

Blacklisted sites: bitcoindoubler.tech, bitcoindoubler.fund, bitcoindoubler.expert & bitdoubler.tk

If you have been scammed by Bitcoin Doubler, please let us know by commenting below.

Visit our Day Trading Guide to learn about legit cryptocurrency investment routes to consider.

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