We are dealing with a blatantly fraudulent affiliate campaign scheme here. The bogus website just keeps yapping about how the business is legit and that users just need to invest $250, but the shady name has been appearing on warning lists and forum complaints.
Hence, we urge you to read our full Bitcoin Prime review and learn how this deception works. Find out how you can recover your funds if you’re a victim.
| Regulated by: | No Regulation Expected |
| Is This Company Safe? | No, the platform is fraudulent |
| Known Websites: | bitcoin-prime.net |
| Have Warnings from: | BaFin |
| Registered in: | N/A |
| Operating since: | 2021-01-11 |
| Trading Platforms: | N/A |
| Maximum Leverage: | N/A |
| Minimum Deposit: | 250 USD |
| Deposit Bonus: | N/A |
| Promoted Assets: | Cryptocurrencies |
| Free Demo Account: | Unavailable |
| How to Withdraw from This Company? | Since this company is unlikely to return your money – contact your bank or financial regulator or simply reach out to us for professional assistance in recovering your funds. |
Legal Info: Is Bitcoin Prime Legit or a Scam?
Affiliate campaigns do not require regulations. They operate by connecting users with brokers or trading platforms in exchange for a fee. In this case, the website promotes the Bitcoin Prime app. We looked up this entity, and the results were shocking. In April 2022, the German Federal Financial Supervisory Authority (BaFin) issued a warning against the platform.
The financial watchdog states, “The content of the website justifies the assumption that the operator offers banking transactions or financial services in the Federal Republic of Germany without permission.” Bitcoin Prime has indeed been up to no good, just like DigitalSerge.
Therefore, we strongly advise you to opt for providers regulated by renowned financial authorities such as ESMA (Europe), FCA (UK), CFTC & NFA (US), ASIC (Australia), and IIROC (Canada). Trusting suspicious affiliate agents working for unknown platforms is extremely risky, as they may participate in fraudulent activities.
Who Are Bitcoin Prime’s Targets?
According to WHOIS, the bitcoin-prime.net website domain was created on January 11, 2021. Since then, the financial swindlers behind the website have been targeting primarily traders and investors residing in the following countries:
- United Kingdom
- Germany
- Italy
- Spain
- Poland
Each of these European countries boasts heavy market regulations. There’s no room for anonymous fraudsters such as Bitcoin Prime or Csecrypto.co. The German BaFin perfectly demonstrated how these regulators deal with digital con artists (see warning). We thus recommend you stick to regulated providers and avoid dubious websites promoting unrealistic services.
Trader Reviews – What’s the Feedback Like?
Searching for Bitcoin Prime reviews on popular forums, we discovered many complaints against the website. As of this writing, there are 25 negative comments on trustpilot.com and a Reddit thread in which users stress the platform’s fraudulent nature.
Trustpilot users cited Bitcoin Prime login issues and withdrawal problems. One victim stated,
“I invested my money in 24 options and saw it grow on the dashboard. When it was time for me to make a withdrawal, I was asked to make another deposit. I made the deposit, and I couldn’t still make a withdrawal.”
This is why it’s crucial to always read user feedback before investing online. Negative reviews may just save you from getting defrauded.
Offering Trading Platform and Tools as a Ruse
The website shamelessly promises a variety of cutting-edge tools and advanced technologies, such as the Bitcoin Prime AI system designed to help users profit. In reality, there is no reliable platform whatsoever behind the deceptive website.
There’s no Bitcoin Prime trading platform download link either, hinting at how the scheme works: The fraud just wants you to pay and not provide you with tools in exchange. Avoid investing on this site and instead turn to transparent brokers who support renowned software like MT4 or MT5.
How Affiliate Scams Usually Work
Deceitful techniques are common in affiliate campaigns. Virtual tricksters try to lure people with promises of hefty returns in short periods with minimal risk. Scammers behind these shams often use false promises, unrealistic claims, and fake products to trick users. They boast about a ridiculous success rate of over 90%, which is implausible.
Another variant involves Ponzi schemes, where money from new investors is used to pay earlier ones. This unsustainable system eventually collapses, leading to financial losses for those at the bottom of the pyramid.
Do your homework before investing to avoid these online traps. Trustworthy reviews like the one you’re reading can provide valuable guidance.
Bitcoin Prime Payment Process
To perform a Bitcoin Prime crypto purchase, the website lists two payment methods that can be used:
- Credit/debit cards
- Wire transfers
The chances of actually withdrawing your money are slim. Judging by the reviews, the scammers seize every opportunity to deny users access to the money they deposited. Therefore, you must explore alternative refund options, as well as consider getting professional assistance.
For MasterCard and VISA transactions, you can request a chargeback at the issuing bank within 120 days and reverse the payment. To succeed, provide the bank with all relevant data, and chats with the fraudsters.
Wires, on the other hand, can be reversed through a recall, but this method is only effective if the transaction has not been completed, meaning you need to make haste.
Customer Support
Bitcoin Prime is awful in terms of customer support options because it does not provide a direct email address or contact number. Users can only fill out a web contact form, minimizing the chances of direct interaction. This suits the con artists perfectly.
No live chat, email, or phone support is a major red flag. Virtually non-existent customer support is yet another reason to avoid this platform.
Key Information To Consider About Bitcoin Prime
European traders and investors, beware. Bitcoin Prime is a cyber scam out to get your funds. The German BaFin regulator made it clear that users should steer clear of the monkey business.
The website is completely bogus. It aims to collect your personal information and send it to the imposters, who will use it to rob you of your hard-earned funds. Thus, we strongly recommend that you stay away from anonymous providers.
If you have fallen victim to the Bitcoin Prime scam, please book a free consultation with Scam Brokers Reviews and tell our team how it happened. As mentioned, our professionals can help you recover your funds. Use the form below to set up an appointment.
Book a free consultation and get your money back.
FAQ Section
What is Bitcoin Prime?
It’s an affiliate campaign. That’s the cover, at least. In reality, it’s a fraudulent online platform.
Is Bitcoin Prime Legit?
With no registration, trading software, app, or credentials, BP is not a real company. It appears on BaFin’s warning list.
Should I Trust Bitcoin Prime With My Money?
Absolutely not. Please avoid sending these fraudsters money. If you already have, contact us immediately.
Source:
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