Crypto Bank Scam
Find Out Why You Should Be Careful About This Crypto Trader 【Updated For 2021】
There is so much buzz about trading in cryptocurrencies at the moment, and almost every day new trading platforms and cryptocurrencies are being released. With so many people interested in making money online through crypto trading, there has also been a rise in the number of scams.
Scam bots are just one of the ways that scammers can steal people of their hard-earned money. By promising astronomical returns and keeping the user in the dark about how cryptocurrencies work in general, these platforms have led to much financial loss.
We have reviewed the automated trading platform known as Crypto Bank to see whether it is worth using. We looked at everything, from the registration process to the requirements and expected return. Our hope is that this review can help you stay clear of Crypto Bank and other similar trading bot scams.
Keep reading our Crypto Bank review or go to our Recommended and Legit Auto-Trading Robot Bitcoin UP right now.
Should You Trade with Crypto Bank?
In a nutshell, this is one trading site you should not be using. Here are the main reasons why:
- We give this site a low legitimacy score because it has many of the typical elements of a scam.
- The website itself uses a different name from the sign-up links, and it’s difficult to find it using a simple Google search. You can’t tell whether Crypto Bank and Bitcoin Evolution are the same or different.
- The sign-up process is very deceptive.
- This scam trading bot promises exceptional profits from day one with little mention of the risk of trading.
- Continue reading to find out more about Crypto Bank. You can also go to our YuanPay Group Review to read about a legit bot.
What Is Crypto Bank?
Crypto Bank claims to be an automated trading software that allows you to buy and sell a range of cryptocurrencies. It is open to everyone—beginners and experienced crypto traders alike. It allows the trading of forex, CFDs, and a number of the top cryptocurrencies, including Bitcoin, Ethereum, Dash, and more. There are so many coins that are worth looking into at present.
Once you have signed up for an account and funded it, the Crypto Bank software is supposed to take care of all the trading activities for you. The site claims that the algorithm scans all the financial markets to find lucrative trading opportunities that assure you of profits from the first day.
In the next few sections, we are going to go into more depth about some of the challenges we found when trying to navigate our way around Crypto Bank. We didn’t have a lot of confidence when trying to use the platform because of a lot of missing information and a general lack of clarity.
Trading Software Name Confusion
One of the things we found the most confusing when trying to navigate ourselves around Crypto Bank and research this platform is the name. Most of the sign-up links refer to the site as Crypto Bank, but when you get to the website itself, you are taken to Bitcoin Evolution. The lack of clarity around the actual name of the trading platform doesn’t lend itself to bolstering the confidence of any potential users.
This lack of clarity is common with many scam sites. When you aren’t sure which site you are signing up for and can’t even do any proper research on it, there’s a major problem. Information is key when you need to decide about which trading platform to put your money in, and when you can’t get that information, we advise you to stay clear.
Not Many Reviews
One of the things you should look for when you want to start trading on a platform is reviews from users. It can be very helpful to your decision to find out what other people who have used the platform have to say. With Crypto Bank, unfortunately, there just isn’t much information about it. You can’t tell whether the site exists, it has any users, and what their experience has been.
The lack of personal reviews makes us wonder what this trading site is all about. You don’t want to be the first person to put your money in a trading site that has no track record, so be warned about Crypto Bank.
Sense of Urgency
Another typical tactic of many scam trading platforms is to drive people to use their sites using a sense of urgency. When people are scared of losing out on a lucrative limited opportunity, they are more likely to act fast and think later. The fear of missing out can lead you to make unwise decisions, especially when it comes to your money.
The sign-up process with Crypto Bank uses this method a lot. You are told to sign up before the registration closes because of the high demand, but there is no evidence to show that there is that level of demand. If the trading site relies on automated trading bots to make all the buying and selling decisions on behalf of their customers, you are made to wonder why it does not have the capacity to handle the high demand from all the new registrations that are supposed to be coming through.
Backing and Owners
We have spoken a lot about many of the features of the Crypto Bank process and website that make us question its legitimacy. One of the most important factors that we have not touched on yet is the question of who owns the site. It is not clear who owns and runs the trading platform and why you should trust them with your money.
An automated trading site is a wonder if it actually works, but it is by no means easy to create. It takes a lot of financial, mathematical, and computing experience and skills to develop a model that works and can be trusted to trade on behalf of many customers from around the world. It could have helped to improve our impression of Crypto Bank if we had some information about who is behind the trading site and what their credentials are.
Deceptive Sign-Up Process
Most trading platforms have very quick and easy registration processes, and Crypto Bank is no exception. All you have to do is to fill out a simple form with some basic information about your name, country, email address, and phone number for you to create an account. The process takes only a couple of minutes and is free to do.
It is expected that any scam or legitimate trading site is going to make their registration process very simple so that it doesn’t tire out potential users before they get started. What we did not like about the signing up process with Crypto Bank was that it was a little deceptive. You can typically find your way to the sign-up form via a review website. Clicking on the Crypto Bank links on the review sites takes you to a signup form on the review site. It doesn’t take you to the actual website as you might expect. Once again, the identity of the trading platform you are supposed to be signing up for is not properly given, which makes us concerned about the identity and legitimacy of this site.
On some of the sign-up forms for Crypto Bank, you are told to wait for your free account manager to walk you through the remainder of the registration process. We are not sure how and if this works.
Overpromising Expected Profits
Many scammers like to sell you a story that is too good to be true about the type of returns that you are going to make when you register. Cryptocurrency trading has proved to be one of the most profitable ad lucrative opportunities of the last few years, but it also comes with higher risk than traditional avenues of making money.
Crypto Bank tries to get people to sign up by over-promising the returns you can expect once you sign up on the site. As the old saying goes, if it sounds too good to be true, it probably is.
Creating a website has never been easier. Anyone with internet access can create a website in a matter of minutes, so this is no longer an indication of legitimacy. The Crypto Bank website looks like it was quickly put together, and it did not give us a lot of confidence in the company and the team behind what they claim to be superior trading algorithms.
Our Verdict on Crypto Bank: Is It a Scam?
Without enough information about people who have actually scammed by the site and those who have made money on it, it is difficult to make a proper conclusion. After doing a full review of the different features and claims on the site, we are not convinced about its legitimacy. That alone is more than enough for us to say that this is not a site that you want to put your money in.
Trading is complex and comes with a lot of hits and misses. When you trade for yourself, you get to go through the cycle and learn as you go. When you rely on a trading bot to make the trades for you, you need one that inspires some confidence. We did not get that from Crypto Bank so advise you to tread carefully if you are interested in trading cryptocurrencies using an automated platform.
There are legitimate trading platforms like Oil Profit and Bitcoin Up, which offer an easy-to-use and trusted service to newcomers and experienced crypto traders. We have researched and tested these sites, and we are happy to say that these are reliable and legitimate sites. They give you all the investment you need to register and fund your account with confidence. While they do not overpromise about what they can deliver, they have exceptional trading algorithms in place to help you get the most from the currently lucrative cryptocurrency market. One of the best things about these legitimate trading software options is that they have positive reviews from real users.
We hope that this review of the Crypto Bank platform answered all of your questions about whether you should use it or not. It can sometimes be difficult to identify a crypto scam, but once you get an eye for it, you can quickly detect signs of one.
In this section, we are going to answer in brief a few of the common questions we get about crypto trading and questions you might have about Crypto Bank that we haven’t already covered in the scam review above.
Is Crypto Bank Legit?
Based on our research and attempts to sign up and use this site, we do not believe it is legitimate. There are just too many questions that we couldn’t find answers to. We are not going to put our own money on a site we cannot trust fully, and we recommend that you don’t do it either.
There are so many other great automated trading sites for you to explore that are more reputable and have positive reviews from real users.
How Much Money Can You Make on Crypto Bank?
It doesn’t look at all like Crypto Bank is a real site, so we can’t be sure if you can actually make any money on the site or all your money is going to be stolen. Unfortunately, we could not find any trustworthy reviews from people who have been using the site for some time and have made any money on it.
If you want to make money with cryptocurrency, you should either trade it for yourself or use a platform that doesn’t present itself as a scam.
It’s always important to remember that any form of trading with real money comes with a certain level of risk as well. This is why we like to question when a site promises incredible returns without too much warning about the potential losses you might incur with your initial capital.
If you are going to make any money trading crypto, then you need a healthy appetite for risk and balanced expectations. As with all trading, the general rule is that you should never trade or invest money that you are not willing to lose. This means that the money you use to trade in cryptocurrency must not be money that is committed elsewhere. You should also not be looking to invest someone else’s money or borrow money to trade, and this can be even riskier and you are still going to have to pay it back.
How Can I Start Crypto Trading?
Now that we have covered all the main reasons why think that Crypto Bank might be a scam site, you might be wondering if you should still try and get into cryptocurrency trading and how to go about it.
There are currently many opportunities to make money in cryptocurrency. Some many legitimate exchanges and wallets allow you to buy and hold various coins if you are a long-term investment. If you prefer to trade and take your profits in the short term, then you can also trade on these platforms.
It can take some time and effort for you to figure out which coin to buy when to buy it, and the most important question of when to sell it. Not everyone has these skills or the time to get them, so using an automated trading bot might be a good option for you. While we do not recommend that you use Crypto Bank, there are many reputable sites for you to try. We recommend YuanPay Group and Bitcoin Up as two of the legitimate sites you can use to explore the automated crypto trading opportunity.