Bitsgap
Verified2 reviews
BitsGap Accelerator Course – The Bitsgap Accelerator course, priced at USD $4,800, promises passive returns of 5-25% through cryptocurrency trading bots. However, user feedback suggests significant discrepancies between the marketing claims and actual results. ### Key Concerns: 1. **Course Structure**: - Pre-recorded lessons on Skool, with limited instructor interaction and heavy reliance on peer support. - Difficult for beginners to navigate.
2. **Performance & Returns**: - Unsubstantiated claims of consistent profits in all market conditions. - Many users struggle to recover their initial investment. - The strategy often involves high-risk, volatile assets to achieve advertised returns.
3. **Risk Factors**: - Trading volatile assets can lead to 30-50% losses. - Bots perform poorly in market downturns, and small gains are often offset by asset depreciation.
4. **Alternative Perspective**: - Traditional buy-and-hold strategies offer better risk-adjusted returns. - Focus on USDT pairs may not be ideal in all market conditions.
5. **Community Issues**: - Reports of account terminations for members who shared critical feedback. - Concerns about transparency and recourse for dissatisfied customers.
My Recommendation: Do not buy the course! Lastly the company SCMF PTY LTD owned by Simon McFadden is currently being reported to all the Australian Government Departments ie Consumer Affairs, Fair Trading as well as the ATO as they do not issue a tax invoice that shows the GST.
Best regards, Michael Kuhne
Unachievable and False Promises – $4800 USD paid - I was promised the following: 1. A passive income needing NO previous knowledge of crypto. 2. Advertised to produce 5-25% PROFIT per month in any market. 3. I was assured I would replace half of my income within a year using only a couple thousand $$$. 4. Continuous support and guidance from the owners. 5. Twice weekly calls with the owners as indicated in agreement.
What happened: 1. After 6 months I was just below breakeven EXCLUDING the extra fees I paid for the course, Bitsgap,, Trading view, trading fees.
2. I was flung into a community where the members are the ones helping each other gain the knowledge. There was almost no support from the owners and the same questions were asked time and time again.
3. When asking where the profits were, I kept getting told not to worry about the COST of the investment into EACH crypto coin bot, but to be happy with the “bot profit”! Anyone knows that profit is not profit if you don’t include the investment!
4. Was told that any coin with seemingly good % in the indicator, would be fine to use - not knowing anything about the actual coin itself. This resulted in people losing $$$ when coins were suddenly unlisted by the exchanges.
5. I spent an inordinate amount of time truly figuring out the technical aspects of the bot to fully understand the implications of each strategy. 6. Ended up having to do hours and hours of research to look into the tokenomics of each coin before setting up the bots. Definitely not passive!
7. Not one call was available from the owners in the entire 6 months I was there.
8. When asking for a refund, I was removed from the community.
It was overall a very disappointing and very expensive experience. I have not recovered my initial cost of the course. I have since completed other FREE courses from other platforms which are far more informative and professional.
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