Last Updated on July 19, 2022 by Stephan Lindburg

Welcome to our Bitcoin Prime Review. Allow us to start off by saying that if you are searching the internet for a review about a digital wallet and pier-to-pier cryptocurrency solution named Bitcoin Prime or an exchange named PrimeXBT, then this is article will not provide you with the information you are looking for. However, if you are searching for an honest review about an automated Bitcoin Trading software by Steve McKay, then you have certainly reached the correct website.

So let’s not beat around the bush and immediately say that we have reached the conclusion that the the Bitcoin Prime scam is an exact replica of the old Bitcoin Code scheme which we already exposed on our site. So if you saw some fake news article or fake review endorsing Bitcoin Prime and are currently asking yourself is the Bitcoin Prime app and automated trading platform legit? The answer is a resounding “NO” as we shall prove in our investigation.

It’s also worth pointing out that our Bitcoin Prime review was prompted by complaints which we received. These complaints can be classified into two types. The first has to do with the fact that there is no software at all, and the second type has to do with inability to withdraw existing funds. In other words, the Bitcoin Prime scam is another get-rich-quick scheme which is promoted just like other systems. To explain, the affiliate networks and media agencies are responsible for attracting paying clients, and the brokers which receive them pay the promoters referral fees. This type of compensation method is usually referred to as a revenue share model, and it is widely used in the Forex and gambling niches.

When we registered to conduct our £250 deposit test, the broker which was assigned to us was called “online trading”, and it has a registered business address in St Vincent and the Grenadines (shady legal jurisdiction). This broker is unlicensed to provide  ancillary services and administer financial portfolios on behalf of clients. We have decided to expose this latest sham as well as the crooks behind it by providing viable proof of scam which leaves no room for misinterpretation or misunderstanding of the facts. So before you risk your hard-earned money and invest with Bitcoin Prime, we recommend you check out our independent Bitcoin Prime review.

Official Website, Login Page, and Members Area: There are over 15 documented Bitcoin Prime websites, and they all claim to be the “official” one.

Scam Evidence – There Is A Lot!
Below you can see a screenshot of the Bitcoin Prime main registration area. Please take a look at the sales video and the section where it says “in the past 90 days…”. We would also like you to read the section where it says “ride the wave of Bitcoin and Earn a Guaranteed £13,000 in Exactly 24 Hours”.

And here we have the original version of the Bitcoin Code main registration area. As you can see Bitcoin Prime has been totally duplicated and copied in the most obvious and careless manner.

And here is the famous Steve McKay. The scammers didn’t bother switching the persona who is supposed to be behind the scheme, and left it exactly the way it is. Suffice it to say, McKay is not a real person and scammers are using this made-up identity to promote a fraudulent trading software because they believe it will make the story seem more believable.

We have added a side-by-side image for comparative purposes so you can see exactly how the scammers are operating. They just switched the text, logo, and voila. A new auto-trader is ready to go!

Bitcoin Prime Fake Testimonials

Alright so here we have the Bitcoin Prime testimonial section. Its very simple to see that none of these testimonials are genuine. This whole section has been ripped off and plastered “as is”. This is also very clear to see in the image below.

And here we have the famous banjoman15 who will say pretty much anything for a measly £5. This time hi is saying that he “made an incredible amount of money in just 24 hours”. The same is true for the rest of the video testimonials, you will have to take our word for it.

Fake Bitcoin Prime Reviews – There Are Way Too Many!

Here we have a screenshot taken from a very well-known industry website specializing in cryptocurrencies and financial trading. You can clearly see they are saying Bitcoin Prime is “safe and reliable”, and has a “success rate of almost 90%” (which is insane).

We have a zero tolerance approach whenever fake reviews are concerned, because we believe that this is the ultimate act of betrayal so to say. A professional reviews website must provide factual and authentic reviews, and when this “contract” is violated many uneducated customers start to invest and lose their money very quickly.

We also don’t like it when swindlers piggyback on the reputation of sponsored content and press release aggregators. Lately we are seeing a rise in this disturbing trend, and that means sneaky liars are gaining exposure on search engines such as Google or Bing. Let’s not forget, these websites are promoting scams, so until the authorities get smart and catch up with these greedy crooks, you will simply have to dig in deeper and conduct more in-depth research if you wish to get the facts.

Bitcoin Prime Fake News Campaigns Flooding The Internet

Fake news campaigns are very common with scammers who try to bait unsuspecting victims. In many cases viewers will be exposed to fake advertorial-style news stories about a certain celebrity who has taken advantage of a “wealth loophole” and is now generating massive amounts of money.

Scammers usually stick to the same celebrities for some reason, and these include names like Richard Branson, Martin Lewis, Bear Grylls, This Morning with Holly Willoughby and Phillip Schofield, Harry and Meghan, Karl Stefanovic, Nikkie Plessen, Amanda Holden, Günther Jauch, Jesper Buch, Jort Kelder, Markus Lanz, ABC and The Project, Gert Verhulst, Lee Hsien Loong, Koen Wauters, and many more. This time they have chosen to latch on to Jeff Bezos CEO of Amazon and until recently considered to be the richest man in the world according to Forbes magazine. If you want to know why simply look at the image below and all the dots will connect for you.

We have just received confirmation that there is another Bitcoin Prime marketing campaign which is using Elon Musk, CEO of Tesla and SpaceX for promotional purposes. Our research staff managed to obtain a screenshot of the fake news article in Dutch from one of the victims who complained (see below).

As you can see, the con artists are trying to sell you the idea that Tesla is launching a new platform which is called “Bitcoin Prime”. They are saying that this trading software which was developed by Elon Musk “aims to help families become wealthier”. Of course, these are just more lies so please make sure to avoid clicking on the links inside these advertisements since we have heard that these links are spammy and infected with malware.

How To Report An Ad To Google 
Google has very strict guidelines about what is allowed or not when it comes to advertising. If you see an advertisement which you believe is intentionally misleading viewers, you can state your case and report the ad. Google will actually check your complaint and as long as it is legitimate will provide you with an answer. Still, in many cases complaints are rejected due to various legal or administrative reasons, so make sure to present your arguments very clearly and provide valid examples which back up your claims.

If you have seen a fake or deceptive Bitcoin Prime advertisement on Facebook (AKA Meta), simply mark it as spam or just completely ignore it. If you feel you want to take it a step further you can submit a formal complaint through your profile.

We have even taken it a step further and collected an assortment of fake news articles from across the world. All of these fake news advertisements are associated with Bitcoin Prime. Here you can see a bogus El Pais article which tries to convince potential victims that Santiago Abascal, a well-known Spanish politician is using this fake robot to generate money.

There are also fake Bitcoin Prime advertisements featuring on aftonbladet, which is one of the biggest Swedish tabloid newspapers with a huge presence in the Nordic countries. We were informed of this latest development by one of our members who felt something “wasn’t right” about how the article looked.

There is also a fake news website in France and Belgium (La Presse), and more recently South Africa entering the scene with fresh new articles about Cyril Ramaphosa and how he is “making millions” using Bitcoin Prime. We have also received reports about fake ads featuring Norwegian Billionaire Olav Thon and his new “money making project”.

We have just spotted fresh fake news campaigns in New Zealand and the Netherlands again. This time the scammers are using Sonny Bill Williams and the Dutch format of Dragons’ Den to promote Bitcoin Prime including actress Chantal Janzen. Of course, UK residents are also constantly targeted by fake news advertisements and as we have previously mentioned. So if you happen to stumble into a phony web page which claims how “the government and big banks are terrified”, make sure to skip it and report the website to the authorities for engaging in deceptive advertising practices.

Bitcoin Prime on Social Media
Besides the usual BBC articles targeting British nationals, we are also seeing a spike in fake advertisements and postings on social media. Twitter and Reddit are at the top of the list, but there are also other culprits such as LinkedIn which have traditionally kept their distance from these types of schemes but are getting their hands dirty as well these days.

Once again, we urge you to exercise extreme caution before clicking the links on these websites and posts. We have received multiple reports about links which are marked as PUPs (potentially unwanted programs) and malware which is associated with this specific scheme.

Bitcoin Prime App Reviews On Google Play and App Store
We have found two separate developers who have made the Bitcoin Prime app available for installation on your mobile phone or device. One developer is named “allsupertechmobileapp” and another one is called “wakeupmedias”. In both cases we see that these software developers are totally anonymous, and that the reviews they are getting by members are horrific.

In both apps the complaints are in line with what we have already mentioned, and they usually have to do with persistent phone calls and rude comments made by crafty sales reps who present themselves as “account managers”. Feel free to login and check the reviews for yourselves before you invest!

Bitcoin Prime: How The Scammers Promote Their Fake Websites
The image below is taken from a very common website analytics tool which is widely used by thousands of webmasters and site managers across the world. Here we can see that for one version of the Bitcoin Prime software no less than 4,000 links were generated for a website which has been in existence for a relatively short period of time.

It is our belief that an overwhelming majority of these links were paid for in order to achieve more exposure on search engines. In essence, the scammers understand that there is a lot of search activity around Bitcoin Prime, and are doing everything in their power to obtain higher positions.

Now, this would be perfectly legitimate if the service they are promoting actually delivered on its promise making $13,000 daily, but as we know this is far from being true.

Who Is Steve Mckay? Is He For Real Or Not? We Checked!

Steve McKay is marketed as “the genius behind” Bitcoin Prime. According to the story, he developed a trading software for a big firm which generated tons of money for his company’s rich clients. So he decided to take it for himself and now he is offering it to a few beta testers who wish to take advantage of this opportunity before its too late. In reality these are all lies designed to make the service seem more credible. Some websites say McKay is a scammer, but that is nonsense because he is a completely fictional character which does not even exist.

What Is Bitcoin Prime And How Does It Work?

Bitcoin Prime is advertised as an automated trading software which enables you to make a “guaranteed” sum of £13,000 during your first 24 hours of trading. The software is supposed to use some type of algorithms which trade on auto-pilot. These are all lies as we have already proven.

Bitcoin Prime Scam Signals
There are no signals or any kind of trading dashboard. This is a simple and direct registration to the broker CRM through an REST API integration. We tried through multiple Bitcoin Prime websites (there are now over 6 that claim to be the official ones), and not even one offered any kind of dashboard or for that matter anything that even resembles a signals setup.

Bitcoin Prime Review, It’s A Scam – Period!

The Bitcoin Prime scam sales video is antiquated and based on the old binary options version and “hard sell” approach. This makes total sense since Bitcoin Code was launched when Binary Options were on the decline and Bitcoin started to take off. So, to make a long story short the scammers who are using Bitcoin Prime have designed a logo which looks like a very common household brand that offers an Internet video on demand service.

This is done in order to throw your scent off and create something anyone could grasp intuitively and relate to. But this is a farce and destined to fail since there is absolutely nothing in common with that service and the fraudulent software which is being peddled here by thieving con artists.

The trading robot which is used by the Bitcoin Prime platform is supposed to scan the financial markets using super-fast algorithms which identify entry signals in order to facilitate a buy or sell order at optimal market rates. It is stated that the bot buys crypto at a low rate and sells when markets are high. The scammers would have you believe that this is how the app generates profits for its investors. Again, these are all tall tales designed to mislead victims.

There are no market surveys or “technical analysis” of any kind. The opening and closing of trades must be done manually by the trader and this definitely involves risk, something no one ever talks about in all the fake reviews and hyped up testimonials we have seen.

We have also identified no less than eleven (11) different versions of the Bitcoin Prime software and added a relevant screenshot as a point of reference for you above. We have also published a separate YouTube video which explains why there are so many versions of the same scam. Please note that whilst the various formats may differ in style and design, they are all confirmed scams as we have already proven.

How Much Money Is Offered For New Bitcoin Prime Customers?
Affiliate networks are offering as much as $700 for new paying customers originating from the Bitcoin Prime scam.  In fact, we have a documented conversation where a broker has offered us $850. So, if the minimum deposit is $/£/€250, how is it possible to pay promoters above that amount? The answer is simple! On average many customers end up investing much more than the minimum amount, and that is where the brokers make their money (repeat buys). That is also how the brokers are able to line their coffers and maintain their operations.

Bitcoin Prime Is Not Related To Any Cryptocurrency Exchange Or Mining Networks (Fact-Checked)
Some sites would have you chase a red herring by trying to convince you that Bitcoin Prime is somehow connected to or generates profit for its members by allowing them to mine cryptocurrencies and then trade them at exchanges for higher profit margins. That is merely another lie designed to mislead victims, and unfortunately the scammers are very successful at doing so.

Is Bitcoin Prime Mobile- Friendly?

Some of our members inquired about this so yes, there is an app which can be installed via Google Play as well as IOS. But as can be expected bot the website as well as the app are fraud and not to be used in any way. To be quite honest we don’t understand how Google is letting these scammers showcase fraudulent software, but at least the reviews they are getting are horrific.

Bitcoin Prime: Horrible Customer Support

When we conducted our deposit test it became quite evident to us that the level of customer support is pretty much non-existent. We sent 3 emails through the contact forms which are located at the “contact us” sections in the different versions of the Bitcoin Prime websites. In all cases the emails bounced and we never received any type of answers to our questions. We recommend you try emailing the support staff yourself before joining a software, just to see if the email works. Of course, if the contact forms don’t work, or alternatively you don’t receive a proper response simply stop whatever you are doing and move on.

Bitcoin Prime Deposits and Withdrawals (Cashier FAQ)

Depositing will be very easy and in most cases you will be automatically redirected to the cashier. Depending on what country you are from, you may be required to answer the phone before being allowed to invest. That is because brokers have certain policies in place which are designed to make sure they can keep calling their victims and get more money out of them.

Members who have tried to withdraw their money were usually deferred or made to wait for extended periods of time. This practice is very common with scammers and done in order to get victims to give up and accept the fact that their money is gone.

Bitcoin Prime Security and Safety-Related Considerations

It’s safe to assume that victims joining this program are more vulnerable to various forms of cyber attacks on their device or PC. Simply having an HTTPS certificate with a padlock is not sufficient these days. When we inspect a software we dig in deep and check things like 2FA or 2-factor authentication, PCI compliance, and ISO documentation.

All of these factors form an aggregated safety score which can be anywhere from 0 to 10. We also run a sanity test to see if the software can withstand multiple registrations simultaneously from different regions. Bitcoin Prime fails to deliver on every single element related to safety.

We were not able to find any type of documentation related to the quality of the software, who developed it, and what type of standards were implemented. Additionally we checked the firewall, as well as other aspects related to cardholder data and privacy policies. As expected, we started to see extensive lag or delays during the testing process, and after about two days we received a call from our bank about unauthorized transactions taking place.

Are There Any Hidden Fees?

To be honest, these cheaters don’t need to have hidden fees. They just deplete your balance in a very quick and efficient manner, so the question of hidden fees is not really relevant in this case. Still, brokers associated with Bitcoin Prime do have terms and conditions section there where we can see that they “reserve the right” to charge their members withdrawal fees or additional fees for inactive accounts. But this is just a standard legal clause which means absolutely nothing.

Bitcoin Prime Regulation Check. It’s Totally Illegal! (Monitored Daily)

There is practically no discussion or mention about the legality of this latest ruse. This is because Bitcoin Prime is completely void of any patents and not required to operate according to regulatory guidelines. We have checked thoroughly and found out that this software is completely anonymous as we have already mentioned, and therefore unreliable. If you are in the UK searching for a genuine Bitcoin Prime review, we encourage you to inquire with the FCA website about trading CFDs.

If you are located in the European Union, you should be aware that the FSMA in Belgium, AFM in the Netherlands, as well as ConSob in Italy have blacklisted Bitcoin Prime and have branded it as an “investment fraud“. We have added a screenshot of these warnings for you above as a point of reference and are expecting additional warnings from the ASIC in Australia, the FMA in New Zealand, CMNV in Spain, and CSA in Canada.

Bitcoin Prime Tax-Related Questions
We constantly receive questions about how much taxes have to be paid after cashing out all this money. The answer is simple. You will not have to pay any taxes because you will have no income to declare. The ones who need to pay the taxes are the offshore brokers who are stealing your money, but don’t worry about them. They have their lawyers and accountants who help them launder their money.

Bitcoin Prime Bonus Packages 
We have received information that bonuses are being offered to individuals registering for Bitcoin Prime. We highly recommend you avoid accepting any types of perks or rewards which may inflate your account and carry massive trading requirements. If anyone offers you a bonus simply refuse to even talk about it and continue trading responsibly.

We were recently informed that at in at least one case a bonus of €1,000 was added to a trader’s account which had a substantial balance. This bonus was never requested and it suddenly appeared out of nowhere. When the victim tried to have this bonus removed from his account he was not able to receive any response. Of course, when he tried to withdraw the money he was informed via email that he has trading requirements that were not met and his withdrawal request was declined.

Is It Free?

Absolutely not. It will cost at least $/€/£250 to get started, and that money will be charged to your credit card by the thieving broker which has been allocated to you. In some instances we were told that members were asked to invest at least $/€/£500 in order to activate their trading account. We suspect that this additional “penalty” was added in order to assist brokers cover their growing advertising fees and operational costs.

Bitcoin Prime Robot	Compared To Other Systems
Minimum Deposit	$/€/£250
Success/ ITM Ratio	Appalling. App is set to lose.
Is This Trading Robot Licensed?	No. Bitcoin Prime is featured on all the regulators' warning lists.
Customer Support	Let's hope you don't need it. Absolutely ghastly.
Demo Trading?	Pathetic. We saw it in one bot but it's very misleading.

Trending Viral Scams
The one we have received the most complaints complaints about is Immediate Edge. However, there are others as you may very well guess.

What Are CFD’s Compared To Forex?
CFD’s or contracts for difference are in effect derivatives which can be purchased or sold based on an underlying asset. As opposed to Forex where you can only trade currency pairs such as BTCUSD, CFD’s allow you to trade indices, stock, commodities and even bonds.

Tested Systems That Work

Our staff constantly surveys the market and checks new systems which are launched. Once we find a system that has potential we test it. If it generates consistent profits we add it to our recommended section. So feel free to check it out.

Bitcoin Prime Review, Summary, and Obvious Conclusions
The Bitcoin Prime scam software and fake automated trading app is rightfully blacklisted in our detailed review and investigation. This is obviously a cheap imitation and clone of the old Bitcoin Code scam as we have already proven. Sadly, we have proven that there are no indicators, special strategies, or secret methods that will transform you into a wealthy person overnight.  If you feel differently or alternatively would like to voice a different opinion in regards to this farcical piece of trash, we encourage you to contact us via our contact page or through our social media.

Disclaimer

The post Bitcoin Prime Review, Is Bitcoin Prime Scam Or Legit Trading App? first appeared on Scam Crypto Robots.