In under a year, Bitcoin-Fund-Manager has lost over 90% of our investment. We don’t like to criticize companies, but our purpose here at BRG is to test and review. We did this, and the results from these so-called pros have been shockingly bad. The only positive that we can take from it is to warn others not to invest with them. Read below for our full Bitcoin-Fund-Manager Review.
Introduction To Bitcoin-Fund-Manager
Bitcoin-Fund-Manager is a bitcoin investment group that advertises on Youtube. They claim that they will grow your Bitcoin for you. Indeed, their frontman gives out a lot of good advice on Youtube, which has got us interested here at BRG interested. For sure, the frontman Robert Kim is a good talker.
They have two options available. One is for them to give you signals (bitcoin-signals.org), and the other is for them to manage your funds 24 hours a day (bitcoin-fund-manager.com).
We have decided to test them by depositing 1 Bitcoin to our accounts and have given them our API keys.
According to their email footer, they have traders based in Seoul, New York City, San Francisco, London, Dubai, Singapore, Hong Kong, and Tokyo.
Who Runs Bitcoin-Fund-Manager?
The frontman for the fund is called Robert Kim. He is the person you see in the youtube videos. Other names we have gained from the emails sent to us are Kevin Miller (Sr Analyst) and Horst Müller. We cannot find any information on Kevin or Horst on the internet to verify who these people are or if they exist.
What Exchanges Do They Trade At?
The exchanges are as follows:
- Binance
- Bittrex
- Bitfinex
- Huobi
- Poloniex
They also trade with Bitmex accounts, but they did not ask us for our Bitmex API’s. The reason being is that we are just a 1 Bitcoin account.
Initial Fees For 24-Hour Fund Management
They have charged us 18.8888% of our initial deposit, which is 0.18888 Bitcoin, that we sent them as their initial fees. The initial price is costly, as there is no guarantee that you will even profit from their services.
They then give you two options for what they will charge you next.
Their initial fee’s are as follows:
- Less than 10 BTC accounts: 18.888%
- 10-15BTC: 14.888%
- 15-30BTC: 12.888%
- 30-50BTC: 9.888%
- 50-80BTC: 7.888%
- 80+BTC: 5.888%
The above fee is required to be sent to them before they start trading on your account.
Additional Fees
Here are their extra fees. The initial charge is a one-time payment, and they do not earn this back before taking their profit share. They start to charge immediately on any profits they make. When we asked via email when they would charge us next, they replied, saying after around $4K profit. Unfortunately, we never got to this point
You can choose two types of profit share structure:
- 28% of cash profits
Or
- 25% of either cash or BTC profits (Whatever is higher).
Support
Once you become a member, they give you a link to a private telegram channel where they inform you of some current trades and general outlook.
You can contact them via email. However, they have stopped replying to us 100%. We find this very disrespectful.
Fees For Their Signals
We can see from their bitcoin-signals.org website that they charge 0.0888BTC for their seven days’ worth of signals for their whale club. This appears to be the only option they have available on their signals website at the moment. Here at BRG, we have not tested their paid signals as we prefer to go for their 24-hour managed option.
What Information Do They Require From You For Their Managed Funds?
Our starting balance is 1BTC, which they started trading with on in July 2019. First, we had to send them their initial fee, which was 0.1888 BTC, which is 18.888% of our 1 BTC that they will be trading for us. We sent them this to their address and then updated them with the transfer tx number.
They then sent us a form where we filled out the API keys of all our exchanges, including Binance, Bittrex, Bitfinex, and Huobi. We had our initial 1 BTC spread out over these accounts, but they contacted us, telling us to put the 1 BTC into one account of our choice. We chose to put it all into Binance. It turns out that because our investment is less than 10BTC that they will only trade one exchange for us. This is understandable but disappointing because it does not maximize our investment. From their youtube videos, it sounded like they would tell us to move our investment to different accounts whenever opportunities arise.
Our Results So Far
22nd July 2019
After one week of them managing 1 BTC for us, the total value in the Binance account that they are using stands at 1.0801BTC.
This means they have made just over 8% so far. We had to pay the fee of 0.1888BTC before, so we are still down 0.1087BTC at this point. However, a return of 8% in one week. Now that is excellent results so far.
22nd July 2019
We decided at this point to increase our amount of BTC in the fund, so we added 4BTC. Before adding this, we sent them 18.888%, which was the amount of 0.75552BTC.
5th August 2019
The balance is on 4.5246BTC. OK, not a great start that’s for sure.
14th August 2019
4.3345 BTC
23rd August 2019
4.5473 BTC
9th September 2019
4.1952 BTC
16th September 2019
4.2119 BTC
23rd September 2019
4.4063 BTC
7th October 2019
4.4106 BTC
14th October 2019
4.4167 BTC
4th November 2019
4.5368 BTC
11th November 2019
4.5388 BTC
18th November 2019
4.6112 BTC
27th November 2019
4.7111 BTC
2nd December 2019
4.6901
9th December 2019
4.7993
19th December 2019
4.5125
20th December 2019 to 20th February 2020
The lowest we saw our balance go was 4 BTC however as of today 20th February we are now at 4.9171 BTC
10th March 2020
3.9689 BTC
24th March 2020
0.3388 BTC
Wow, they have lost over 90% of the 5 BTC. Not to mention the 0.9444 BTC we paid them initially. Disgraceful. What went wrong is that they started to margin trade on our account, which is a very high-risk trading strategy, and they did terribly.
The Best Thing About Bitcoin Fund Manager
- Nothing
The Worse Things About Bitcoin Fund Manager
- At times when Kim is boasting on youtube about how good their trades are, they are losing us a lot at the same time. I very much doubt they trade their own BTC just other peoples.
- They charge an initial fee and take a significant cut of the profits.
- They don’t reply to our emails.
Conclusion
STAY AWAY. They are simply gambling with your cryptocurrency. If they win, they charge 25% of your profits. If they lose, they won’t even have the courtesy to reply to your emails. For our last five emails, they have not yet replied to us. Very disappointing.
At the end of the day, we were stupid and greedy to invest in Bitcoin Fund Manager. Please do not do the same and never invest in them. They do seem to have some knowledge, but as you can see from our results, it is very risky.
Their motto is that they protect and grow your Bitcoin. Jumping from margin trade to margin trade is certainly not protecting anything, and they lost over 90% of our investment, so nothing is growing here. Robert Kim comes across as a charismatic leader with an abundance of knowledge. Our lasting impression is that he is a good con-man but not a good trader.
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