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Does anyone have an experience in using BTC Robot? Can it make some money or is it just a scam?

closed as off-topic by Murch Jan 18 '16 at 16:15

This question appears to be off-topic. The users who voted to close gave this specific reason:

  • "Questions seeking product or service reviews are off-topic because they tend to attract subjective, low-quality, and spam answers. On the other hand, offerings in the Bitcoin space are still evolving rapidly which often renders answers outdated quickly. For more information see this meta-discussion." – Murch
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    I'd be suspicious, since the FAQ makes no sense. – David Schwartz Nov 7 '13 at 22:44
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Yes the BTC Robot is a scam. I bought 10 bitcoins when the price was $140 a coin. I used the robot and it brought my bitcoin number down to 2.774 as it made more losing trades than winning trades. I turned it off when I realized what was happening. Despite of this I didn't lose money as the bitcoin price kept rising. If I had simply held my coins and not traded with this stupid robot I would now have almost $10,000 in my account instead of the $2200 that I now have.

When you read the testimonials you can see that if they would have done the math they would have seen what I did and realized how they were tricked, but because they still have more in their account than they initially invested they think the robot is working in their favor.

  • Well, what did the robot do when Bitcoins dropped in value? If it made trades that protected you from losses, that might be worth a few trades that cause you to miss out on gains. Testing in only a rising market is an unfair test. – David Schwartz Jan 16 '14 at 11:06
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I would not say it's a scam because it does actively trade bitcoins, however the claims are not substantiated and in fact it has performed very poorly. I had a $500 account at approximately $100 per bit coin and now the current portfolio value: is 949.02 USD with bitcoins trading at $940.79 on MtGox, $838.24 on BTC-e, $838.88 on Bitstamp.

I'll do the math - simply my account should be worth approximately $4500 if BTC Robot was par with the market. They claim huge gains beyond what the market performs at - that's a lie. BTC Robot is performing at approximately 20% of the market.

The algorithm is poor at best. I see a lot of trades but they don't appear to do much. There was apparently a glitch in the system about a month ago. I had manually turned my robot off and should have disconnected it from my account. They did an update and turned my robot back on and I promptly lost $2000!!!!! Now they're promising a big improvement is coming. I'll believe it when I see it.

Bottom line is that it cost me $500 for the robot and it should have paid for itself but it hasn't. My advice is by low and sell high and do not by the BTC Robot. It has a long way to go and the only ones making money are the Russians that are selling this thing.

  • Where do they "claim huge gains beyond what the market performs at"? I only see claims such as a 150% annual dollar return, which it sounds like you got. (Though, of course, I wouldn't credit that to the robot, but to the market.) – David Schwartz Jan 16 '14 at 11:10
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150% Annual profit? I'd be very suspicious. If it's too good to be true, it's not true. They only offer algotrading on a new asset class, bitcoin in this case. It doesn't matter what is the base asset, this kind of annual profit is unreasonable.

  • Well bitcoin now makes 150% in a month for example... the question is whether the bot is working or not. – Kozuch Nov 8 '13 at 12:41
  • If it's working, why would they sell it? They can invest for themselves and just get the money. – Mosh Nov 8 '13 at 16:31
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I have bought btc robot (gold membership) in september 2013, it did not make money at all, contrary my account had negative balance up until now. it had too many technical problems with btc robot, it did not traded properly so few days ago i asked for refund, they kept me referring clickbetter site. although, there was not enough time to test robot within 60 days because robot did not work properly , and vendor also kept assuring that robot will make money. As you see now this robot is totally rubbish, i definitely not recommend to buy that robot, stay away from that. BTC robot vendor is cheater for me because they took my money

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Complete ripoff. Started in mid-2013 w/ 4 BTC. Although the value went up, the actual BTC amount plummeted to under 1 BTC. I looked at the trades and it consistently lost money. The help desk people just kept telling me to be patient and things would even out and go my way. Wrong! Like a fool I took their advice and didn't pay attention for a few months, when I looked at my account, I now have only $95 value in my account. I really believe that they use the Bot to syphon out small % of BTC w/ each transaction and put it into their personal account. Recently, they stopped responding to my emails, I went to go to the BTC Robot site and its not even there. Might be a temporary glitch, but it wouldn't surprise me if these Russsians just left w/ everyones money. Even if they didn't, its a ripoff. Stay away!

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In the six months that I bought in, I haven't been in the plus territory once! It fluctuates and reflects the market....actually, it performs much worse than the market. And now, they seem to be down.

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I bought it but the fing thing has been broke for six months and TECH SUPPORT REFUSES TO FIX IT even tho promised 1 year gold membership DONT BUY IT!

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