Bitcoin Up (BitcoinUp.io)
Bitcoin Trading Platform
Is Bitcoin Up Fake or Real?
Why Is Bitcoin Up Fake?
Bitcoin Up is a website that claims to be a platform for Bitcoin trading. The website makes suspicious claims of returns such as 900% in 24 hours and literally says that users can earn ‘thousands of dollars on the first day of trading’. However, the tiny disclaimer at the bottom of the page says that information on the website is fictitious and they do not guarantee profitability.
A domain name lookup of the website shows that it was registered on 3rd April 2020. The registrant’s details such as name, location and contact details have been hidden for privacy.
Though creating an account on the platform is free, a minimum deposit of $250 is required to start trading. The company claims that their ‘trading system is legit’ and the FAQ section stresses that it is not a Ponzi scheme. Real companies never have to explicitly state that they are not a Ponzi scheme, because unlike Bitcoin Up, they are registered with the requisite authorities. They also claim to provide ‘high-level transparency’ even though the website does not have a single shred of information about the company or team members.
Bitcoin Up claims to be the ‘official website’ of the company. However, there are actually several websites claiming to be the ‘official’ website of Bitcoin Up. These include:
It is unknown which is the actual ‘official website’.
The website contains some testimonials by clients, but these seem to be fake as all the images of their supposed clients have been copied from Pinterest.
Bitcoin Up has also put up several sponsored articles and affiliate posts. These articles show up when you search for ‘Bitcoin Up reviews’ but they are not sincere reviews. All these articles mention that they are either paid or earn a commission from Bitcoin Up and are not liable for damages caused by using the platform.
Bitcoin Up also has a favourable rating of 3.7/5 on TrustPilot. It is not a stretch to imagine that these reviews are paid considering that Bitcoin Up is also paying for articles designed to trick users into thinking they are reading genuine reviews. There is also evidence that the company is trying to have negative comments removed. This reflects badly on them and it seems that they are trying to suppress criticism.
The reviews apart from the ones on TrustPilot paint a picture that Bitcoin Up is quite dubious. People who have invested in Bitcoin Up have been badgered to invest more, to the point that one user had to change their phone number.
It seems quite obvious that Bitcoin Up is a scam. The website makes promises such as 900% returns in 24 hours but the disclaimer states that all the information on the website is fictitious. There are several ‘official’ websites of Bitcoin Up that all make tall claims of earning thousands of dollars daily.
The testimonials on the website look like they have been written by the company themselves as the images are not of real clients. There are numerous paid articles and affiliate blog posts that are made to look like genuine reviews of Bitcoin Up. There is also a likelihood that the TrustPilot reviews are paid. This is because the reviews outside TrustPilot suggest that no one has actually earned money through the platform and clients are harassed to invest more.
To read about other Investment Scams, click here.
Remember: If something seems too good to be true, it probably is.
If you have been a victim of an investment scam, you can take the following steps:
- File a complaint with the payment portal. However, investment scammers mostly use methods such as Bitcoin, Western Union, MoneyGram and other untraceable methods which make refunds impossible.
- File a formal police complaint with the Cybercrime department.
- Leave a negative review on review portals such as Scamadviser and TrustPilot
- Report the website to Google using the Suspicious Site Reporter extension for Chrome
- Give a low rating to the website on Web of Trust. You can also install their extension for the same.
- If the company has a listing on Google My Business or Google Maps, file a complaint using the Business Redressal Complaint Form. Also, leave a negative review explaining what kind of experience you had.
Disclaimer: The views expressed in this article are presented as an educated opinion based on facts and evidence. There is no malicious intent or attempt to defame any individual/s or organization/s. If you are a website owner and would like to provide clarifications regarding your business and/or website, please get in touch using the Contact Form.