BitAtom.biz claims to be a bitcoin mining, trading, and investment firm run by industry veterans. Find out if it’s legit today in our BitAtom review.
What Is BitAtom?
BitAtom, found online at BitAtom.biz, is a bitcoin investment company that claims to offer “top-notch investment plans for secure, lifelong returns.”
The company also claims to offer “consistent hourly returns” – which is an enormous red flag.
Typically, when a company advertises things like “hourly returns” and “consistent profits”, it means you’re being scammed. That lesson is doubly true in the bitcoin industry, where we’ve seen hundreds of pyramid schemes and multilevel marketing scams emerge over the past few months.
A quick look at BitAtom shows that it appears to be a pyramid scheme that’s virtually identical to every other scam on the internet today. The scheme claims to pay you a fixed ROI every hour for the rest of your life – all you need to do is give the company a bunch of money.
For the benefit of the doubt, let’s take a closer look at how BitAtom works.
How Does BitAtom Work?
BitAtom claims to offer “investment solutions” that have been put together by “industry veterans”. Somehow, these industry veterans have been able to outsmart everybody else in the cryptocurrency industry by creating investment solutions that generate consistent hourly returns for the rest of your life.
BitAtom offers three core investment products. The more money you give the company, the richer you’ll be:
0.4% Hourly, Every Hour, Guaranteed, for the Rest of Your Life: Minimum investment of 0.001 BTC
0.47% Hourly, Every Hour, Guaranteed, for the Rest of Your Life: Minimum investment of 10.001 BTC
0.5% Hourly, Every Hour, Guaranteed, for the Rest of Your Life: Minimum investment of 25.001 BTC
If you do the math, the company is advertising returns of 4380% on the highest plan (not taking compounding interest into account). That’s a ridiculous promise for any investment firm to make – and it’s an obvious signal that BitAtom.biz is a scam.
BitAtom claims that it will pay you the above interest rates every hour for the rest of your life, the first two plans above have an “earnings cap” of 10 to 25 BTC. The last plan, however, has no earnings cap. The company claims to pay you unlimited money for the rest of your life. What a deal!
How Does BitAtom Generate Income?
BitAtom, like most scams, doesn’t provide any proof of its trading services, nor does it provide any evidence that it has ever paid anyone. That’s a big red flag – especially since the company claims to be offering guaranteed returns of several thousand percent per year. Returns like this are rare in the investment world – and it’s impossible to guarantee returns like that.
BitAtom claims that it has a “team of professionals” who carry out various trades over the platform. These professionals have “extraordinary skills” that allow them “to minimize the risk and extract returns from the volatile but highly profitable cryptocurrency market.”
That may sound good, but there’s no evidence that any legitimate trading takes place. Based on all of the information we can find online, BitAtom generates income exclusively from new memberships – similar to how every other pyramid scheme works. The company collects new memberships until it gets shut down, at which point the creators of the scam – along with high level members – disappear with all the money.
BitAtom Pyramid Scheme
BitAtom’s pyramid scheme, or multilevel marketing affiliate structure, pays down three levels.
You get paid 5% commissions on the first level, 2% on the second level, and 1% on the third level. It appears your commission is paid from the membership fee paid by the member on signup. You get just 5% of the person’s membership fee, while the remaining 95% gets funneled to the top of the pyramid.
Who’s Behind BitAtom?
BitAtom claims to be based in Aberdeen, Scotland. As proof, the company posts a “Certificate of Incorporation of a Private Limited Company” from June 2017. The company lists its registration number as 571041. We could find no third party record of that document online – so it’s possible that the document is fabricated (we’ve seen pyramid schemes provide fake registration documents in the past).
Aside from that one page document, BitAtom refuses to disclose any information about itself online. They vaguely mention things like having a “team of professionals” and a “huge cryptocurrency mining setup.” However, we never get any names or further information about the company.
The address listed on the official BitAtom website (72 Stell Road, Aberdeen) is in an industrial corner of Aberdeen. We can’t find any evidence showing that the company legitimately maintains an office at that address, and the address may not even exist (we can’t find any record of any building with that address).
Conclusion: Is BitAtom a Scam?
BitAtom.biz is a blatant scam that appears to be identical to other bitcoin pyramid schemes and multilevel marketing scams available today. The company makes ridiculous promises about its ROIs, but refuses to back up that information with any proof. The company doesn’t list any information about itself or its management team online, and all contact information for the company appears to be fraudulent.
Ultimately, when someone is asking you to send them lots of money online, and they promise to give you quadruple digit annual returns guaranteed for life, you can be 100% certain that you’re being scammed – that lesson is doubly true when the payment is requested in bitcoin, and the company refuses to disclose any information about itself.
Avoid BitAtom at all costs. It’s another bitcoin scam or Ponzi scheme.