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Austrian FMA Informs Retail Investors About Bitcoin Profit Trading


There was a press release from the Austrian Financial Market Authority. The statements say that retail investors must know the risks with Bitcoin Profit trading. They specify the investors to check on the risks involvement, before initiating a trade. According to the FMA information, Bitcoin Profit doesn’t hold a potential requisite license to operate their function within the area.

Currently, services are also going down on the official website. So it is not yet clear to identify the damage they are posing. Moreover, no one knows how much Austria users are showing their involvement. Looking at the scenario, the supporters at Bitcoin Profit seem to show support for their services.

Additionally, there are some fake “reviews” about “happy” customers online about the company. There remains the potential for a cryptocurrency trading platform which few users can access. Through a self-promotional video, even one “customer” claims about their profit on thousands of dollars using this platform. However, the subscribers must research this “review” like a grain of salt. They must identify the “user” availability as a “spokesperson” on Fiver. Basically, it is a website which helps to outsource numerous freelancing projects.

Moreover, anyone who signs up with Bitcoin Profit gets direct to an exchange which Finance Magnates puts it. More about a potential scheme, there is software which company offers at first. That software utilizes a lot of the same jargon which known scams do. The only thing which makes Bitcoin Profit distinct from other platform is their new logo including color scheme.

The cryptocurrency which does not have any regulation poses a huge threat to investors. Basically, a platform that occurs without any security and provides inaccurate information. The FMA says,

Bitcoin Profit is not entitled to perform banking transactions requiring a license in Austria. Therefore, the provider is not permitted to accept third-party funds as a deposit.

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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