You have probably stumbled upon this online business opportunity called ” Auto Bitcoin Builder” and are wondering – is it legitimate or is it a scam?
They probably peaked your interest with some incredible claims of an automatic bitcoin generating program, that will make you rich in the next few days.
To save you some time, I can tell you right away that Auto Bitcoin Builder is a scam and you should definitely not give them your hard earned money. I decided to write this comprehensive Auto Bitcoin Builder review to explain why exactly it’s a scam, and how to stay away from getting scammed in the future.
Let’s get started!
Here is what Auto Bitcoin Builder claim to be, to trick you into giving them your money. They compare themselves to Kickstarter, a crowdfunding platform, and call themselves a hyper funding network. These folks claim to take your money, invest it in new business opportunities by supporting various companies and you get an automatic 6% daily return on your investment. They also say that all investments are made using bitcoins and not US Dollars. It might sound good on first glance, but once you start thinking about it it all falls apart. Let’s brake it down.
Kickstarter is world’s largest crowdfunding platform for creative projects. Hyper funding is not even a thing. How Kickstarter works is very straightforward – you give you money in support of a new project and get perks/the product once the project is realized. That’s the main difference. If I want to kickstart my new denim jeans company, I’ll promise you a pair in exchange of your 60$ initial investment to cover costs. And you’ll be reimbursed if I never deliver. It’s basically pre-ordering something you want.
Auto Bitcoin Builder made up a term called “hyper funding” where they collect funds from many small investors (that’s you) and then pretend to use this money to invest in some mysterious very successful businesses automatically and give you the returns in dollars. The only similarity with Kickstarter is that they take a lot of money, from many people. The rest is completely different and misleading. That’s because in reality, they are not investing your money anywhere. There is no real product backing these profits. I can guarantee the only investment they are making is using that money to advertise their program. Because that hard earned money you just gave them – they used it to pay out the fake “profits” to members that joined before you.
They claim using their system you will be making a 6% return on investment EVERY DAY. Do you know how much that is for a year? That’s a 2160% ROI in a year. A bank will typically give you 3% per year. If you invest in stocks with a good financial advisor, you might make 15% although it would be a high risk investment. Warren Buffet – the wealthiest investor in the world makes 22% per year. And they promise you 2160%. Do you really think the AutoBitcoinBuilder has a system that outperforms the best investor in the world by a 100 times? This number is so absurd it makes absolutely no sense. No investment will ever have a guaranteed return of that magnitude – and that’s simply proof they are not investing your money anywhere.
The only reason bitcoins are even involved in this scheme, is to distract and confuse you. It’s a red herring. Believers will say: “of course such returns are impossible in US dollars, but it’s all different with bitcoin!”. Folks at Auto Bitcoin Builder know that most of the general population don’t know much about bitcoin and will simply accept whatever they tell them about it. It’s easy to fall for it, and start thinking it’s all complicated internet technology that’s beyond our understanding. But think of it this way – bitcoin is a currency like any other. Just like US Dollars, Euros and British Pounds. It simply seems confusing because it is one of the newest currencies out there. But would you be as likely to believe them if they were saying you could make huge profits investing in companies using Euros?
Some would say Auto Bitcoin Builder is a Pyramid Scheme. However, participants in a pyramid scheme know they are earning money by attracting new recruits. Then training these new recruits to find even more people. This goes down level deep hence creating a pyramid. In a Ponzi scheme, people are tricked into thinking that the money comes from a mysterious very good investment, and are encouraged to invite their friends to join in on this amazing money-making opportunity. It’s a subtle difference, but the fact remains that Auto Bitcoin Builder is a scam. Not a Pyramid Scheme, but a scam. The sad part, is that the first Ponzi scheme happened in 1920s and they still pop-up in 2017, only slightly re-packaged.
Here is how it works: they pay out the first level of investors with the incredible returns. They are amazed and urge all their friends to join the program to earn some easy money. To make this deal even sweeter Auto Bitcoin Builder offers rewards to those who bring in new members. The company then uses the new recruit’s investments to pay out the next people. This creates a snowball effect where more and more people join and invest money. The “return” payed back comes in as new people are recruited – your gain is another person’s loss.
When the flow of new people runs out, the whole scheme falls apart. They don’t have any more money to pay out the returns. They don’t even have any money to give you back the money that appears in your account as “yours”. That’s when the company usually disappears, taking all the money you had on their platform with them. There have been loads of such “opportunities” in the past and they all seem to magically disappear sooner than later.
Don’t believe me? It’s on their disclaimer page https://autobitcoinbuilder.com/?a=rules (very conveniently not accessible from their sales page)
As a private transaction, this program is exempt from the US Securities Act of 1933, the US Securities Exchange Act of 1934 and the US Investment Company Act of 1940 and all other rules, regulations and amendments thereof. We are not FDIC insured. We are not a licensed bank or a security firm.
Translation: We are not held to the same standards as regular banks. It means that the money you deposit to our program is not insured in any way and there are no guarantee you will be able to cash it out.
Real Banks and Investment firms have to follow certain standards, so they cannot lend more money than they actually have. (And remember what happened when such rules were bent by banks? The 2009 banking crisis) These guys are subject to no such rules, and don’t even pretend to be.
You are investing at your own risk and you agree that a past performance is not an explicit guarantee for the same future performance.
Translation: We’ll stop giving you any money once we run out of people to recruit
We reserve the right to change the rules, commissions and rates of the program at any time and at our sole discretion without notice.
Translation: Without giving you any warning, we can stop the payouts completely
Although the program is somewhat new and there aren’t many people talking about it, some reviews are already surfacing.
Reputable Bitcoin forums are simply deleting posts about Auto Bitcoin Builder because they don’t want any newbies falling for this scam:
In short, avoid Auto Bitcoin Builder. They may be doing some payouts now to lure people in or to trick you into depositing more of your money into their scheme. But when it all comes crashing down (and believe me, it will) everything that was in your virtual online account will be gone forever.
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Step by step course. No experience or money required.
Questions? Comments? Please use the comment section below 😉
Alex
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View Comments
yesterday i have deposited $75 still its not reflecting in the account.... i was trying to search CC but finally found this review...
lost my money
I deposited $13.54 .. but id is not activated even after 50 hours passed.........
So what ways can e me money online ..since auto bitcoin builder is a scam
Aaron, there are many ways of earning an income from internet. You can freelance. You can sell your create and sell your own products as I have done in the past. You can do affiliate marketing (that's what I am doing right now). However, you must remember that there is potentially no limit to how much money you'll make, you'll need to put in the work and time into it. There isn't a get rich quick scheme.
Alex
Hi Alex,
I think I might be the first to mention the BAN scam in a 1/30 post to Scams. I'm so glad to see that you continued with the issue so well and that so many victims wrote to you. Best of luck, and keep up the good work.
Regards, Scams Beginner Mjolnar
Hi Mjolnar!
Thanks for stopping by. You reported your $50 loss with Auto Bitcoin Builder almost a month ago. I guess you never got your money back?
Alex
i deposited money about 21 hours ago but still my account is 0.0 $ !!! i send them several message but no response at all !!i can not forgive myself
Thanks for the review! Just last night I was about to deposit some funds, fortunately for me their Bitcoin address was inaccessible!!
Hi Janet.
The auto bitcoin builder site is not loading for many people and I think it's a good thing as many will actually save their money this way.
It’s unfortunate that some of you are having bad experiences with Auto BitCoin Builder.
I have followed the ranks of my friends who all swear they are making huge profits, and withdrawing regularly with no problems.
This is my testimony of how this has worked for me so far,
I made an initial deposit of $100.00
27 days later I withdrew $162.00 my interest earned at the rate of 6 % ($6.00) per day on the $100.00
Ok,…. so I lost $100.00, but gained $162.00.
Each day I continue to gain $6.00 interest on my $100.00.
I don’t see how I am getting scammed on this site.
Perhaps it is true that one person’s gain is another person’s loss.
I’M GOING TO RIDE THIS WAVE TILL THE SHIP SAILS SOUTH!
JM, this is the exact ethical issue I have with such scams.
I would never be able to "ride the wave" knowing that other are being ripped off for my own benefit.
Seriously Alex???? There is no time for ethics here. With age, comes experience. Like living in the jungle ...... you either eat, or be eaten.
I think most people would agree, A scam is only a scam if you let it be.
Yes, seriously.
I'd rather invest my time and money into growing a long term business than try to make a few dollars with a platform that will shut down soon and that's potentially ripping off other people. I guess we see the world differently.
And there is always time for ethics ;)
Alex
They are pure scam, I have $100 and my downline $40 and they refuse to credit his account,niether allow me to withdraw,God will punish all of them, armrobbers
That's very unfortunate to hear. I don't think there is much that can be done about that besides warning others and reporting them to the authorities.
SCAM DON'T BE A VICTIM
Thanks for sharing this information on a potential scam. I hope it helps to save others from losing money and time. This goes to show how important it is to do your research before investing into anything. I never did get into Bitcoins but I know many who are and this is just another one of those sites that will lure people in, take their money then disappear. Do you have any other Bitcoin sites that you can recommend?
Thanks for reading Cathy!
I think Bitcoin is very interesting however this new "money idea" had to bring new scams. In this case they're saying that they use "bitcoin" to simply confuse people. If they said you can invest normal currency like USD a lot more people would realize their claims are fake and that kind of profit is simply impossible.
One of the best places to learn about Bitcoin is a subreddit (/r/bitcoin).
Alex
Thanks for the thorough reviews especially one that has to do with products that was design to rip people off.
I am particularly not into Bitcoin as much but for those who are, i can't help but feel sorry for them when they fall victims of such rip offs.
This is indeed an eye opening reviews. I will help share the hell out it as i do not condone anything that will mislead folk and steal from them. And i will indeed save to come back for more as well as follow up on the comment this post is attracting.
Thanks again.
I am glad to hear you found this post helpful, Richard.
Unfortunately many people don't realize there isn't a secret shortcut to riches. In the past I have been a victim of several scams because I didn't know better.
There are many legitimate ways to make money from home (and to make lots of money) but there isn't a magic trick to it. Success requires effort.
Alex
Hi Alex,
Please help me I have invested 31$ in autobitcoinbuilder for my blockchain wallet in yesterday evening but it is not showing any deposit amount it's means my money is lost....please help
My ID-SHIVRAJ87
Hi Shivraj.
Unfortunately I cannot help as I am not associated with Auto Bitcoin Builder. It seems like you might have the same issue as many others members who see their deposits mysteriously vanish from their accounts. You can try contacting their support although it seems like there won’t be much help there.