GP Bots — SCAM Review — Earn 1% Per Day — Crypto Passive Income through Bitcoin Arbitrage
GP Bots is a crypto passive income platform that allegedly uses bitcoin arbitrage to generate profits. However, I believe that GP Bots is not actually conducting real business transactions, but rather offering a game-like simulation. In this video and article, I will explain the concept of arbitrage and the need for large amounts of money already deposited in multiple exchanges in order to actually profit from a real bitcoin arbitrage scenario. In conclusion, I believe that GP Bots is not a legitimate business and strongly advise caution regarding participation in this business. However, you are free to decide and disagree with me. Please read, subscribe to my blog here at Medium, and give me claps for this article!
This video is a review discussing GP Bots, an alleged “bitcoin arbitrage platform”. GP Bots claims to offer 1% profit per day. However, I believe the process that you partake in the back office is only simulated transactions, not actual bitcoin arbitrage transactions. In the video and article that follows, I explain the concept of actual bitcoin arbitrage and how you can investigate the “transaction hash” to find actual legitimacy to this trading scenario.
Understanding Bitcoin Arbitrage
Bitcoin arbitrage is a legitimate strategy that potentially yields high profits if executed properly. Normally, successful bitcoin arbitrage necessitates significant capital deposited across multiple exchanges. Not only this, your portfolio should concurrently hold both USDT and BTC in all of these exchanges. The idea is, when an arbitrage opportunity emerges, you can quickly purchase bitcoin on one exchange buying at a low price, then turn around and sell it for USDT on another exchange where the price is higher. In this manner, you are buying LOW and selling HIGH, you’re just doing two different transactions on two different exchanges. Overall, your portfolio has a profit, it’s just not all in one place. Since your portfolio is spread across multiple exchanges, the profit extraction process is potentially challenging for most cryptocurrency users.
GP Bots’ Claims
GP Bots claims to offer 1% returns per day throughout the week, with each package purchased having the potential to earn up to 200–300% ROI. It also asserts that the user needs no more than one minute every day to execute these operations. If GP Bots were actually performing real business transactions in bitcoin arbitrage, this would be an absolutely amazing and highly rewarding experience for everyone.
Simulation vs Actual Transactions
Upon logging into the GP Bots back office, you’re presented with a scenario to buy BTC on an exchange at a lower price, represented in green, and then sell BTC for USDT on another exchange with a higher price, represented in red.
After making 4 clicks to buy, sell, and confirm the transaction, you receive a transaction hash with a clickable link that takes you out to the blockchain explorer. However, it’s essential to recognize that internal transactions within exchanges do not get recorded on the blockchain; they remain ‘off-chain.’ The only ‘on-chain’ transactions are when new funds or crypto are deposited into the exchange, or funds are withdrawn out of it.
The GP Bots back office, in this sense, appears to simulate transactions rather than actualize them. While a bot can identify arbitrage opportunities, there is no need for a user to log in and confirm the action.
In essence, GP Bots appears to be little more than a simulation, a game, rather than a viable business model. Ensuring long term profitability and sustainability in online ventures involves genuine business transactions, not their mere imitation.
Because of the concerns I have with the entire process, I do not believe GP Bots is a legitimate business and I advise strong caution regarding becoming involved. I desire that you make money online and wish that you find the business and the people to work with that brings that to reality in your life.
Please note this critique is solely based on personal research and findings and should be taken as such; differing views are welcome and respected.