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.
There are ways to make money on the internet, but it’s never instant and takes some work to achieve. Here’s my #1 recommendation to make money online, even if you have no previous experience. I must warn you that you won’t become rich overnight. You won’t be making making money without doing any work.
I have been a member of this training since late 2007 and I’ve been making a living online since 2008.
Step by step course. No experience or money required.
Questions? Comments? Please use the comment section below 😉
Alex
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View Comments
Hello!
I am french.May I undersatand your internet business course?
Hi Claude.
The course is in English so your level of understanding depends on your knowledge of English.
21 July 2018 - I've tested Autobitcoinbuilder beginning of 2018. Why? Because it's still active. Deposited $1 and received the income but was unable to re-invest. I then requested a withdrawal of $2 and it was pending. Two weeks ago I logged in and both available is $0.00 and pending is $0.00. Active deposit is still $1.00 but they stopped paying any hourly payouts. Today I checked my Bitcoin account again and no deposits have been made. People professing they're making money from this are the scammers themselves. Beware!
I don't even have to read the full review (don't worry, I did read the whole review) to know that auto bitcoin builder is a scam. The word 'auto' should be the first red flag here. The people behind this scam are exploiting the bitcoin mania and try to target unsuspecting victims. Plus, this sounds too good to be true. How is a 6% ROI daily even possible?
I signed up with ABB on Feb. 18, 2017 and invested $1US at first, then another $5.00 I reinvested my earnings for a few weeks and built my earning deposits up to a few dollars more. I then stopped doing anything with ABB as I could not withdraw anything. I have never been able to withdraw ANY money, even though I invested around $50US in total. I kept hoping that eventually I would be able to withdraw some money, but even though, by continually reinvesting my earnings for months, growing my earning deposit account up to nearly $4000US, I was never permitted to withdraw any of my earnings. Numerous times I tried to contact support but they did nothing to make it possible to withdraw any money from my so-called earnings. However, I just learned that Google issued a security certificate to ABB on Sept. 09, 2017 that is good until Nov. 30, 2017. Why? Is Google being paid to do this?
Hi Donald.
Google does not issue security certificates. You are referring to SSL (Secure Sockets Layer) and this certificate is handled by third party. Basically it means that the information that passes between your browser and their server is secure and integral. In other words, if you make a payment to Auto Bitcoin Builder - your payment info is secure. However it has nothing to do with ABB being a scam or not. Most scammers set up free SSL certificates to seem more legit.
Best of luck to you
Alex
Jim Branning the so called owner of AutoBitcoinBuilder is what my Grandfather referred to as a shy·ster
ˈSHīstər/Submit
nouninformal
A person who uses unscrupulous, fraudulent, or deceptive methods in business.
And I am what my Grandfather referred to as a Sucker. One born every minute!!
Hahaha...I knew it is a scam...Good thing, I put out $5 in total....
Gotta be careful out there Christine.
If it sounds too good to be true it's because it is.
I hope the owner of autobitcoinbuilder is burninga in hell right now. my withdrawal is still in pending status for 1 month, I have the same bitcoin address when I paid them.
I just don't understand how site's like this can continue to operate when clearly its not ligit.
Surly it wouldn't be hard to track them down and shut it down.
Hi Thommy.
Unfortunately shutting down a site is not that easy and that quick. Authorities spend a lot of effort and time to prove a scam. After that, they need to go in front of the judge and that alone can take months if not years. Even though it's obvious it's a scam, it usually takes a long time to finally shut it down.
Yea they're scam, definitely. I'm glad I caught wind of it before my mother and sister could invest and lose their money. I lost $150.00 dealing with these crooks.
Another dirty little scam,no access to webpage,they have gone to ground,may they rot in hell
I Put in $20 on February 9th. A few weeks ago my total showed over $20 so I requested by $20 back. Haven't heard a thing nor received anything! But by balance now shows $47.70. SCAM!
wow! this is crazy. i am reading all this now. i invested 2k into this stupid thing! and the lady is saying she doesn't know when we are suppose to cycle! ? BS if you ask me. this is their name SallyDarling GailRahill
that's what she goes as "sally" and her partner gail. based in Colombia Missouri. i have pictures of her fb and everything. this person needs to be stopped.