My Bitcoin Bot – or simply MBB for short – is an automated margin trading software program that allows individuals to invest in Bitcoin as a day trader through a selection of trusted brokers.
What Is My Bitcoin Bot?
MBB is, supposedly, the creation of an expert day trader named Brad Sheridon and his team of experienced investment experts.
However, there are no indications anywhere outside of the MBB website that Brad Sheridon is a real person – there are no social media profiles or any other mentions of a “Brad Sheridon” anywhere on the internet, making us doubt the identity of the person behind the company.
Backing up our suspicions is the fact that the website itself was registered anonymously in late May of 2017. Additionally, the site itself has no contact information for the company besides an email address – there's no physical address or phone number listed with MBB.
As always, if a financial service company doesn't demonstrate a high level of transparency, it's a poor indicator of trustworthiness.
My Bitcoin Bot Product
My Bitcoin Bot is an automated day trading software program – an auto-trader bot – that is available to anyone willing to pay for access. Users can either pay $39 a month or $297 a year, with the yearly option being less expensive than 12 months of month-to-month service.
Purchasing access to the trading bot provides users the software, a digital instruction manual, unlimited technical support, free software upgrades, and access to MBB's “trusted brokers” list.
My Bitcoin Bot Opportunity
The opportunity that MBB presents is a quick, easy, and painless way to make money off of the volatility of the Bitcoin market.
The cryptocurrency fluctuates in valuation daily, and day traders who capitalize on this volatility can indeed profit from their hard work – My Bitcoin Bot claims to take the “hard work” out of the equation, as it can simply be configured to run along certain guidelines and left to work on its own without any human intervention.
My Bitcoin Bot Verdict
There are a couple of problems with My Bitcoin Bot. While much of what MBB says on its website is true – the Bitcoin market is volatile enough for day traders to make (and lose) fortunes, there's little to no evidence that the auto trading bot actually works as advertised.
First, the proof presented on the website of successful trades over time may look impressive, but reading the fine print at the bottom of the website reveals that these snapshots of incredible and massive profits were taken from simulated trades, not ones that were actually conducted in the real world.
This means there's no actual real-world proof that the MBB software can be trusted to work as intended.
Secondly, there's the problem of not knowing much about the actual company itself. There doesn't seem to be a real person with the name of Brad Sheridon working in the Bitcoin investment world or even anyone with that name with any sort of online presence at all.
With the added red flag of My Bitcoin Bot having no listed place of business or phone number, it seems like the height of folly to fork over almost $300 for an untested opportunity from an unknown source. You can get a refund of your purchase price within 30 days, but that obviously doesn't cover any extra money you invest in the market.
My Bitcoin Bot talks a good game, and it's certainly true that investors can play the margins of the Bitcoin market to make some serious bank, we're not sure that MBB is the best way for a would-be investor to make that happen. The company itself simply isn't trustworthy, and that means we cannot recommend it to anyone.