BTC Robot Review – is it a scam ? Real results from bitcointalk users…

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BTC Robot Review Summary

Pros: Easy to setup, lots of tutorials, support available.

Cons: Doesn’t seem to act as described at all. Didn’t manage to get it to work on the Silver Plan.

Conclusion: No, BTC Robot is not a scam, but I believe that it’s not as accurate as described on the BTC Robot sales page. Personally, I didn’t manage to make a profit out of it but I’ve used it for 2 weeks only. The good thing is that the 60 day money back guarantee makes it a no brainer for someone who wants to try it out any way and decide for himself.

99 Bitcoins’ rating [usr=5.5]

For more information about BTC Robot.

Full BTC Robot Review

Let me start right off the bat here by saying this is not another “look how great my profits are with BTC Robot”. This review aims to bring real live research to conclude once and for all if purchasing BTC Robot is worth your money or not. I’ve been into Bitcoin for almost a year now and just recently got my hand on BTC Robot and this was only after some INTENSIVE market research. My guess is that if you’re on this page you probably are looking into researching it as well, so hopefully I can save you some time.

This review is not based on my personal experience only

Instead of just trading with BTC Robot and then giving you my personal opinion alone I integrated into this review as many online BTC robot reviews I could find online. I picked out the best ones (usually from Bitcointalk.org) and the worst ones (usually for people who are trying to make a quick profit) and brought them together. I will not talk about how to use BTC robot in the review since it’s pretty simple and there’s a complete step by step guide once you purchase it.

Searching for “BTC Robot reviews” on Google bring almost 92% are biased reviews…

So after going through the first 4 pages on Google for the term “BTC Robot Reivews” I managed to find only 3 reviews that were worth commenting about, the rest of the reviews were plain biased.

Jonathan shows real live proof that you can gain (and lose) with an honest BTC Robot review

I managed to go for almost 12 different reviews before deciding to purchase BTC robot. The first review I came across which was probably the most helpful was of a site called “Bitcoin World Wide” which was kind of suspicious looking since it seems to only be promoting BTC Robot. Nevertheless after reading the Jonathan’s review carefully  I saw that he was actually updating his stats each month including loss (which is something that biased reviews rarely do). So up until November 2013 his account was at a positive ROI of %26.75 but because of the big drop in Bitcoin price in December he ended 2013 with a negative ROI of  %61.23. My guess is that he was using the aggressive mode which cause him these loses. Here is his recap for December.

Michael Summer shows a real live screen capture of making profit

After screening some more excessively biased BTC Robot reviews I came across a Vimeo video of a guy named Michael Summers. Now this video is clearly narrated, but nevertheless he shows making actual profits off BTC Robot of around $386.18. After further investigation I saw that the video was uploaded on January 2014 but it was filmed on July 2013….make you wonder how legit it is after all.

The first major website to review BTC Robot says it’s a scam

After some more digging in, I came across an article from “The Verge”. To make a long story short the author of the post on The Verge claims the BTC Robot is just another scam in the world of making money online. Although he seems to be very determined about it, he did not bring one piece of evidence supporting his claims. On the comments that were posted to this article the BTC Robot team answered each and every reader who expressed the smallest of concerns which plays in their favour. If someone is trying to scam you, they usually won’t have such great customer service.

What Bitcointalk’s forum has to say about BTC Robot

For those of you not aware of it, Bitcointalk is the biggest Bitcoin forum online today, and it doesn’t take scams lightly. Users who are considered scammers are marked clearly and are usually booted out of the forum, here are some examples not related to BTC Robot:

Scam alert on Bitcointalk  Scam alert on post

I found 3 different posts relating to BTC Robot reviews. The first was of a a staff member of Bitcointalk. He actually created a total profit of $52.15 through the time he was trading but was losing Bitcions. He was kind of iritated by this although the BTC Robot representative who replied on that post clarified that profits are based on USD and not BTC, meaning if you want to earn USD use BTC robot. If you’re aiming to earn Bitcoins then perhaps there’s a better way.

The second thread of BTC Robot review on Bitcointalk I read heated up pretty quickly and got over 400 posts! I went over most of them (you can’t actually read 400 posts). Going through the posts I encountered another video that seemed to be legit and shows profits.

There was A LOT of back and forth in these forums. Mostly people accusing it of scam but without actual proof. The BTC Robot team seemed to defend themselves fiercely against any accusations. A few member finally came up with some actual trading data showing that they lost money when using the robot and some complained about bad customer service. Towards the end the forum get really aggressive, lowers the BTC Robot’s team trust score and calls out the program to be unsuccessful.

BTC Robot user on Bitcointalk

Finally I tried finding the latest BTC Robot review, since maybe something has changed during the time the program has been running. It seems that not much has changed although one reviewer said he had a hard time getting his money back because he bought the program with Bitcoins.

Last but not least, my own experience with BTC Robot

So after reading so much stuff online I didn’t have a very good feeling about BTC Robot, but there was still no outright proof that it was a scam. Also, they promise a 60 day money back guarantee so I figured I can purchase it, play with it a little and if I think it’s crap just get refunded. The purchasing process went pretty smooth, just go to the BTC Robot website, select your plan (I chose the Silver one) and then get redirected to ClickBetter for payment.

Note: ClickBetter is the payment processor for BTC Robot, so if you want to get refunded or have problems during your purchase you need to approach them. A word of wisdom, don’t fall into all of the up-sell crap they try to pitch you after you buy the robot, it’s just cheap marketing tactics.

I got my API keys from BTC-E. You do this by just going to your profile, choosing API Keys and then creating a new key. You can name it whatever you like but then you need to give it “info” and “trade” permissions.

btc-e api key

I funded my BTC-E account with $100 which was the most I was willing to lose on this test.  I set the robot to “medium” trade settings and waited to see what happens, unfortunately nothing did. The program wasn’t able to fetch my BTC-E information and therefor wasn’t trading. I sent an email to BTC Robot’s support and got answer the next day with some instructions. I then decided to take things up a notch and actually upgraded to the “Gold Plan”. The reason being that I have a 60 day money back guarantee so there is no risk.

After signing up to the Gold plan the Bot actually started trading. I decided to leave it for the next few days and see what happens. This is my account on the first day of trading:

BTC Robot begining

Unfortunately enough, I didn’t manage to make a profit even after several days of trading. It was time to test out the last thing left…the 60 day money-back guarantee. I sent a refund request to ClickBetter and waiting to see if this will work as advertised. It did, and in 3 days I got my full refund for both programs.

The conclusion – is BTC Robot a scam ?

No, BTC Robot is not a scam, but I believe that it’s not as accurate as described on the BTC Robot sales page. Personally, I didn’t manage to make a profit out of it but I’ve used it for 2 weeks only. The good thing is that the 60 day money back guarantee makes it a no brainer for someone who wants to try it out any way and decide for himself. If you would like to share your experience with BTC Robot just post your comment and rate this product below.

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Ofir Beigel

Owner at 99 Coins ltd.
Blogger and owner of 99Bitcoins. I've been dealing with Bitcoin since the beginning of 2013 and it taught me a lesson in finance that I couldn't get anywhere else on the planet. I'm not a techie, I don't understand "Hashes" and "Protocols", I designed this website with people like myself in mind. My expertise is online marketing and I've dedicated a large portion of 99Bitcoins to Bitcoin marketing.

BTC Robot

BTC Robot
5.3

Reliability

5/10

    Support

    6/10

      Repuration

      3/10

        Price

        6/10

          Pros

          • Money back guarantee

          Cons

          • Doesn't seem to work
          • Poor support
          • Bad reputation in community

          9 Comments

          1. Current Portfolio Value: 46.30 USD Total

            Weekly profit: -$70.35, total profit: -$109.20

            My robots

            Robot 1

            Plan: platinum
            Status: active
            Purchased until: 4th Dec 2016

            $46.30

            0.00 BTC, 44.19 USD

            Robot 2

            Plan: ltc
            Status: active
            Purchased until: 4th Dec 2016

            $2.91

            0.02 LTC, 2.83 USD

            i did start with 0,5 btc +100$ and 5 LTC
            thieves,scumers,liers …dont trust them …

          2. Erwin van Dijk on

            As a gold-robot user with 6 month’s of experience I dare to say it’s software is hilarious. Exactly like below with Haroun, poor support, only posponement :-((( First months were great; profits as promised, big fun.

            Then the big chinese bitcoin-crash came, where it only managed to hold on to 30% of its capital (I thought I bought a robot to sleap well) but since then money started slipping away. Buy expensive, sell cheap. Support again says I must let it do it’s work, wel it DOES NOT. As simple as that. I switched back from agrassive to conservative and today it went crasy in ‘conservative’-mode 15 transactions all resulting in losses.Stupid thing is that the console page of the robot only shows timestamps, not dates. This means you’ll have to go to btc-e.com yourself and login to find out what it’s really been up to. Support knows this but refuses to do anything about it, what can be so hard to improve this? Conclusion: they DO NOT WANT to improve it by simply adding the datestamp, cause that shows what’s really going on!

            Furthermore if you watch carefully how marginally small the trading of the robot is compared to the ups & downs in the market, it’s more coincidence than rule it can make a profit. And they dare calling these tiny little transactions ‘agressive’?

            Since all virtual coins are going badly at the moment, I have a feeling these robots are acting on somebody else’ favours… But that’s me speculating now.
            Also the big promotion of Lightcoins and Ltc-robot was faulty advise, it all went downhill. I think it’s a bloody shame and won’t continue once this 1 year “gold”-account is over. It was fun playing with bitcoin but that’s all.
            I’m glad the money I put in was originally won by manual bitcoin trading so no harm done, just sad ending. Bloody bankers are all vultures, that’s for sure.

          3. BTC-E is run by CROOKS !! Get all your coins out fast , or you will lose everything in your account !
            They will HACK into your account, and you will receive NO SUPPORT and lose everything !!

            • Hey Rob. Any specific reason for saying this ? I mean would you care to elaborate on your experience with them since this is the first time I’m hearing this..

            • Rick Zurawski on

              BTC-E uses Clickbetter as their payment service. After asking for a refund two days after purchasing service with Clickbetter, I too have had trouble with Clickbetter. In several email responses to get them to refund my BTC, they have stated that refunds can take between 2 and 21 days, “due to international banking limitations”. This is total BS. A complete lie. I funded my BTC-E account with $100 USD paid in BTC. Bitcoin requires no bank and their reasoning (lie) is insulting. They just need to refund my BTC. It DOES NOT take 21 days. It takes two seconds if they will just do it. Anything less than an immediate refund is theft. I feel taken just like many others who have been scammed by BTC-E and by extension, the sham of a company called Clickbetter.

              • Ofir Beigel on

                Hey Rick thanks for the detailed feedback. Are you referring to BTC-E or BTC Robot ? Since BTC-E is the exchange and not the actual product. BTC Robot is the product which is, like you said, sold through Clickbetter. If it eases your mind a bit I can tell you that you’ll probably get your refund, it will just take a little time like they said. Let me know if I can do anything to help.

          4. Melissa Jordan on

            Excellent review…..I agree it is not a scam, but with the current volatility of Bitcoin it is not a product that is effective…I used it for 4 days under stable market conditions. On the 5th day, I asked for a refund which they provided with no hassle.

          5. I tried the robot out too and while I agree its not a scam, the software they’re using to trade on BTC-e is a bit counterintuitive. The robot sells when the price is low and buys when the price is high. When you query this with the developers, they simply mention that you should leave your robot to run and over time it will bring you profits. Not very comforting for my rational mind.

            And the “profit” they claim you’re making is really the USD of the BTC you bought, so when the price of BTC goes up, it appears that you’re creating profit, but really that’s just the value of your investment going up and nothing to do with the trading ability of the robot.

            The only people making money from the robot are affiliates and the creators of the software…

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