The online cryptocurrency trading ecosystem is home to many scams and fraudulent offers that attempt to trap unsuspecting investors into depositing capital with unregulated brokers or investment schemes. Some of these schemes are somewhat reputable and do in some cases provide payouts, such as high yield investment programs, while others are blatant scams that should be avoided at all costs.
Automated trading bot software scams fit into the latter category, and typically present investors with the opportunity to purchase or invest in trading software that delivers guaranteed returns. In this article, we’ll take a look at the “Bitcoin Focus Group”, a new scam that places an interesting twist on automated trading software scams.
Bitcoin Focus Group claims to be the creation of David Kramer, and presents itself as a “focus group” or challenge, which is a new strategy that has emerged in the crypto-scam environment recently. We’ll proceed to break down the Bitcoin Focus Group and highlight the key factors that identify it as a scam to help you protect yourself in future.
What Is The Bitcoin Focus Group?
The Bitcoin Focus Group claims to be operated by David Kramer, who is most likely a completely fabricated individual. There is no evidence anywhere online of Kramer, nor is there any way of verifying whether Kramer is involved in the cryptocurrency trading market at all.
On the Bitcoin Focus Group website, “David Kramer” introduces the “Johnson&Rutgers Focus Group”, which appears to be a combination of educational materials and auto-trading software. This software apparently operates on an advanced algorithm and trades Bitcoin and other altcoins to generate a significant profit.
Bitcoin Focus Group promises investors returns of up to $35,000 for participating in the program. The Bitcoin Focus Group software is apparently free, and justifies this by stating that users will be asked to provide feedback on the software in return for free access.
The Bitcoin Focus Group is a fairly obvious scam. Apart from the obviously fraudulent character of “David Kramer”, the Bitcoin Focus Group website also contains claims that it was awarded the 2017 award for “best crypto program” by the “Global Crypto Magazine”- which doesn’t actually exist.
Bitcoin Focus Group also uses stock imagery in their “user testimonials” section, and presents readers with completely unverifiable claims of profits in a series of laughably fake user profiles. The Johnson&Kramer group also doesn’t exist, which is probably one of the biggest red flags for this scam.
It’s highly likely that the Bitcoin Focus Group is attempting to guide investors into depositing funds with an unregulated broker and harvest affiliate bonuses. The software provided by Bitcoin Focus Group, which claims to deliver a 79% efficiency guarantee, will likely trade your account to zero quickly.
BitCoin Focus Group Verdict
Bitcoin Focus Group is an obvious scam that should be avoided at all costs. If you’re interested in depositing your funds with a managed trading account, it’s worth considering a reputable high yield investment program, or any one of the many different crypto index funds that are available on the market at the moment.