With the number of financial fraudsters on the rise, cryptocurrency investors need to tread more carefully as they look for sites to invest money with. Over the past few years, the number of phishing sites, hackers and scammers has been unprecedented. This coming as a result of the Bitcoin craze. More and more investors are seeking to grow their investments online and make a quick kill. Unknowing investors have lost huge chunks of money to unscrupulous businessmen. Before investing bitcoin or any other digital currency, it is necessary to have a quick review of the sites. One such site is Bitadvisor.biz.
What Is BitAdvisor Crypto Mining Investment Program?
Bitadvisor Ltd is a company that makes use of innovative equipment in the hardware mining of cryptocurrency such as Bitcoin. Litecoin, Ethereum, and others. However, since mining requires powerful computing devices over time, the company seeks to attract additional working capital by offering high yield investment plans and promising timely dividends in proportion to invested amounts.
A background check on the company reveals that it was incorporated in the UK on 1st February 2018. In short, the company has no filing history being a new company and claiming to attract additional capital to improve on the current hardware mining equipment sounds deceitful.
More Red Flags
Giving the company the benefit of doubt, there are still more questions that pertain to its activities. A quick scrutiny of the website reveals no whitepaper defining how the returns on the site are arrived at. There are no calculations, simulations or graphs that investors can refer to corroborate figures displayed or simply understand the activities their investments will go into.
You’d expect that the company would display their team of professionals on the site to build investor confidence. The employees of Bitadvisor Ltd remain anonymous.
Typical of Ponzi scams, the site offers enticing referral commissions to grow its web of deceit.
BitAdvisor Final Thoughts
Take your investment elsewhere. Bitadvisor.biz is a no-no.