Every single day, the cryptocurrency world wakes up to the birth of new and innovative robotic investment firms that promise hefty ROIs. At the same time, crypto enthusiasts hoping to benefit from these platforms pour their cash in and wait as the robots do their thing. A perfect example of these trading bots is Algobit.
According to its developers, Algobit.biz is an “innovative “digital funds” investment platform” with investors from all parts of the globe. It alleges to have at its disposal record-breaking systems designed using a state-of-the-art machine learning algorithm and eventually help investors reap huge off their investments.
Small and consistent profits generated from “all major crypto exchanges around the globe” are the purported source of profits this platform remits to its investors. The alleged London-based financial company ends its modest introduction by promising to double everyone’s money in just 24 hours. Regardless of the tantalizing promises, however, there’s an aura of suspicion whether if indeed it is a real and genuine investment platform or just another shameless scam website.
Features of Algobit.biz
Going through all that makes up Algobit, an expert in identifying HYIPs and modern-day Ponzi schemes will not fail to tell you how the whole platform resembles one. Signing up is a breeze while depositing the acceptable cryptos (Bitcoin, Perfect Money and Payeer) is pretty straightforward.
It also has three plans namely:
- Silver Plan that guarantees a 2.2% profit per hour for 48 hours on funds between $10 and $5,000.
- Gold Plan that promises a 2.5% hourly profit for 48 hours on funds between $10 and $5,000.
- VIP Plan that will offer a 10% hourly profit for just 24 hours on funds between $10 and $5,000.
- Gives 5% as affiliate commission and 10% as representative program.
- The robot trader places orders in different exchanges in millisecond intervals.
- A daily interest that is available for withdrawal every day.
- Swift payouts paid upon their maturity.
- Excellent multi-level management.
- Excellent support.
- DDoS Protection and SSL encryption.
The Big Question: Does It Pay?
Everything about Algobit.biz seems legit, and the whole site has nothing fishy, and it even shows that it has amassed over $95,000 worth of deposits and paid out over $48,000.
However, it can only be genuine and thus worth investing in only when it pays then we’ll judge its authenticity based on it. Of course, we can’t invest our money just yet, though many of those who’ve tried it are still waiting to get their profits!
Is It Genuinely Registered and Operating as Per the Laws?
Well, it appears the administrators of this site chose to upload a fake registration certificate as a way of fooling naïve investors. The whole document looks doctored to correspond with the jurisdiction where it purports to be based at – London.
If it’s genuinely from the UK and operates legally, indeed its directors would have created Terms of Investment or even included their official names and locations. In fact, it appears this newly established business is actually based in Romania and not the UK!
- How comes it is hardly a month old, yet it has garnered over $90,000 in deposits and had over 1,500 users already?
- How does it make money and which exchanges does it deal with?
- Are there any testimonials – by any chance?
The Algobit Verdict
It could be paying (every Ponzi scheme pays during its initial days of business), but it will soon disappear. Everything about Algobit.biz looks suspicious, and maybe it is just a new version of the debunked Algobit.com.
Well, it appears like a scam!