Product Name: Bitcoin Millionaire
Product Owner: Jason Lee Ducker
Upsells: $200 or more deposit required to use software
What is it?
Software for binary options trading that requires investing at least $200 in a trading account to even see the software.
Despite its name, Bitcoin Millionaire doesn’t really have anything to do with Bitcoins. Instead, it is just another product that offers software that claims to help people succeed at binary options, but is unlikely to actually do this. Like many similar products, Bitcoin Millionaire is nothing more than a sales pitch to get you to invest in a specific options trading site with the hope that you make money from the process. However, many more people will lose money than will gain it.
Before You Buy
Personally, I recommend never believing the money back guarantee on any product, because, there really isn’t any guarantee you will get your money back. This warning is actually particularly relevant to Bitcoin Millionaire, because both of the refund ‘guarantees’ specify that you actually have to try the software.
The problem is, you don’t get the software until you sign up for a binary options trading account and deposit money into it.
Most people who look for a refund for this product will probably do so when they realize it is binary options trading, so they won’t ever use the product. Furthermore, if you do actually go through with the binary options part and then seek a refund – then you will only get the $7 or $14 promised in the guarantee.
Getting a refund from the binary options broker is another story altogether, and I highly doubt that you will manage to get anywhere.
What I Liked
There is nothing I like about this product or this approach to ‘earning money’. It is misleading and ineffective.
What I Didn’t Like
As products go, Bitcoin Millionaire looks like a bit of a new one. I haven’t actually seen an online marketing product focused on Bitcoins before, although the landing page alone immediately made me think that it was a gimmick.
For starters, there was the ‘weekly profit counter’, which was going up much more steadily than I would ever expect legitimate profit to. Besides that, the numbers in the counter are simply too good to be true – which is a sure sign of a scam.
In fact, I left the page going overnight out of curiosity and when I got up in the morning it looked like this:
Now, both images are for the same week and are less than 24 hours apart, with the higher image appearing first. Needless to say, the weekly profit counter is nothing more than a counter somewhere in the coding for the page that just keeps ticking up. Aside from counter, there were a lot of other indications that the product wasn’t as good as it seemed, such as the typical rags to riches story as well as the guru bashing that seems to be common these days.
One part of the sales pitch that made me laugh was the statement that he had figured out how gurus are making their money:
Honestly, how gurus make their money isn’t really that much of a mystery. They don’t do it by following the techniques they promote, but you probably already knew that part. Instead, they are making their money by promoting and selling products to anyone they can.
There is no secret formula behind making money online, and I guarantee that anyone who says there is, is trying to sell you something.
I also want to note that Bitcoins are something that you be careful about getting involved in and do your research carefully. Yes, they are legitimate and real, but no one fully knows the future of this virtual currency, particularly if the government decides to try and regulate it.
So, the Product?
The first thing I want to say about the product is that you literally get nothing for the $7 that you invest. Instead, you are taken to a page where you are given instructions for what do to next. This is really the first indication you get about what the site is actually promoting, and the worst thing is that you don’t find out until after you have paid the initial $7.
Basically, Bitcoins Millionaire is software that claims to support trading online, increasing the likelihood of the user winning the trade. The type of trading that the site supports is covered in more detail in an article on binary options, but in general there is no guarantee of success and there are some significant risks involved.
It’s also worth noting that there are some blatant lies in author’s attempt to get people to invest in the binary options platform. Have a look at this one for example:
I have reviewed a number of sites that offer free or inexpensive software to people who sign up with their specific trader, and they all have minimum deposits of either $200 or $250. This minimum seems to be consistent across binary options traders. I was a little curious about this claim, so I had a look on the binary trading site that Bitcoin Millionaire promotes, and it turns out that the minimum deposit for the site was $200 to start off with.
Personally, I want to know what happened to the wonderful claims on the original page that the software cost ‘just’ $7 so it could be affordable to everybody. Most people can scrape together $7 to try out a product, that’s true, but many would not be able to get the $200 needed to actually use the software.
Once you get past purchasing the product the push to spend money becomes even more significant and obvious – to the extent that you are basically told to ‘invest’ as much as possible. Don’t be fooled. This type of trading is not a sure bet, and you may end up losing far more than you gain.
While I’m on the subject of manipulation, please ignore the little copies remaining counter on the site. The concept is that when this gets down to zero, the price will increase from $7 to $297. The idea is to make people hurry and purchase, rather than thinking it through properly.
When a website has a counter, I always wait until it gets to zero to see what happens. Normally, the count will simply stay at zero and let you purchase anyway. This wasn’t the case here. When I first visited the site the count was actually at ‘7 Copies Remaining’. When it got down to zero, it simply reset to somewhere around 60.
A final note I want to make about this software is that it promotes a binary options company called Boss Capital. Now, Bitcoins is one of the currency options that you can try to predict and bid on within Boss Capital, but Boss Capital doesn’t focus on Bitcoins at all.
I suspect that all the hype bout Bitcoins in the sales is nothing more than an attempt to make Bitcoin Millionaire look different than the many similar products that are already out there in the market.
Who Is This Product For?
This approach to trading is risky, and I don’t recommend anyone follows it. If you are really interested in binary options, do your research properly, and don’t choose a product like Bitcoin Millionaire, because software simply doesn’t have the ability to effectively predict changes in markets.
Trying to earn money through Bitcoin Millionaire is little more than a gamble and it simply isn’t worth the risk. If you want to earn money online, the most reliable approach is to develop your own online business. If this is an area you are interested, then I recommend looking at training through Wealthy Affiliate, which provides all you need to get started – without the substantial investment that Bitcoin Millionaire needs.