Bitcoin Sniper is a product that automates the process of trading bitcoin online. Bitcoin for those who are not in the know is an online currency that operates outside of any governmental influence with certain additional amounts being released based upon groups solving complex mathematical problems.
Bitcoin Sniper is very quick to lure you in with a promise that they can guarantee you $1,264,314 without spending a dime or minute of your time. In fact, it goes as far as to say that after watching the introductory video you WILL make this amount. A bold claim that is unfortunately not really backed up by anything. Not only is this fantastic sum of money guaranteed for you but it’s absolutely free!
Original Link: btcsniper.com/
This of course isn’t free in the traditional sense of the word. In actuality you will have to pay $39 for access to the software. The claim to be free comes from the fact that you can claim a 60 day money back guarantee. Of further concern is the fact that there is never any mention of what investment would be required to get you started trading. This means that those coming in with a few hundred dollars to invest could well end up falling well short of any real profit.
So how does the product work?
It’s a good question and one that will never really be explained to you. The video states that you just click a button and the whole process is automated and will make you money 24/7. A bold claim that is somewhat overshadowed by small print where it states that “there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program.”
The video for Bitcoin Sniper is also very quick to disassociate itself with traditional Forex trading systems which it refers to throughout as scams, whilst implying that Bitcoin is a stable and secure currency that can only go up as it operates outside of any governments influence and is therefore immune to inflation. This would be a valid point were it not for the fact that as Bitcoin is a user driven system it is prone to all the foibles of any trading market meaning the value can crash at any given point and actually did so in April this year.
Overall this seems to be a reasonable system that seems to have some grounds to its claim that it is a more stable option than Forex. Bitcoin has been on an upward trend for some time now and still remains relatively unknown outside of internet savvy users. Also because of the rate at which Bitcoin is added to the market (which currently stands at around $1.5 billion globally) and the currently huge demand.
As to whether the claims made of making you over $1 million dollars would apply in real world terms that remains doubtful. A lot of the concern comes down to the fact that Bitcoins currently trade at around $180 each which means in order to trade in volume and maximise profit a huge initial investment would seem to be required. And given the fact that Bitcoin Sniper never mentions how much you need to start trading, it will remain a cause of worry.
Interesting review on bitcoins, I have been storing them for a few years now, and I suspect they will explode at some point. In namecheap has started taking them as payment.