Bit Bonum – Bitcoin Global Rewards Club App For Shopping Online?
Bit Bonum Limited is a service that claims to be able to bring impressive returns for users who invest bitcoins with their website. Trading in cryptocurrencies is a fairly established practice, and this website claims to be able to do it so proficiency that they can promise up to 0.21% returns for every hour your coins are invested with them.
Before we explore whether or not this website is truly legitimate, let’s explore a little bit about what cryptocurrency actually is and how cryptocurrency trading truly works.
Cryptocurrencies are built using cryptography, which was used to create a technology called the blockchain. Cryptocurrencies, such as bitcoins and other forms of alt-coins, all operate using this blockchain to substantiate and verify transactions.
These forms of digital currency are decentralized, which means that they don’t have any single owner, whether that is a person, an organization, or a government. Instead, the entire technology is cloud based and is stored on the hardware of every user. In this way, every person who uses Bitcoin owns the software just as much as every other user.
Investing Cryptocurrency For Trade
While the practice of trading in cryptocurrency is vastly different from that of trading in fiat currency on Forex or of trading on the stock market, the basic principles are still very similar. The idea is to purchase certain forms of cryptocurrency when their value is at a low point and then waiting to sell them until their value has risen.
If you repeat this process with multiple different forms of alt-coins, it is possible to make a significant profit. However, it should be noted that there is also a risk for significant loss.
There are many cryptocurrency exchange websites online which facilitate the transfers necessary to actively trade. Most of these websites provide a marketplace where users can buy and sell bitcoins and alt-coins at will with other users, as well as providing an online wallet address that will hold all of the cryptocurrencies purchased in the manner.
The difference between these other websites and Bit Bonum is that Bit Bonum goes the extra step and actually performs the trading for you. Much like the services many agencies provide for stock market trading, the user simply needs to invest a certain amount into the service and the website’s administrators will use those funds to trade on the user’s behalf.
Is Bit Bonum Limited Legitimate?
It’s really no surprise that services like this one have begun popping up on the web. The idea in and of itself is actually a pretty solid one, which is why investment brokers have become so successful in the fiat currency markets.
However, we do have to recognize a red flag that should be very clear on this website, which is that they promise a return with no mention of possible losses. A legitimate service of this kind should work hard to stress the fact that all currency trading is a risk, and can come with both great rewards and massive losses.
Instead, this website boasts boldly on the home page that an investment with Bit Bonum will garner the investor between .013% and 0.21% returns for every hour that the funds are invested. This may not seem like a huge amount, but the fact that they seem to be 100% confident of constant gains makes us skeptical.
This is no guarantee that the website is a scam, and we suggest that you do research of your own. But remember, always use your head and practice common sense. If an offer seems too good to be true, it probably is.