BitBlissCoin is a cryptocurrency investment “opportunity” that promises to multiply your money. Find out why it’s a scam today in our review.
What Is BitBliss Coin?
BitBlissCoin, found online at BitBlissCoin.com, describes itself as “a new kind of money.” Abbreviated using the symbol BIBC, the cryptocurrency promises to “change the financial ecosystem by providing multiple investment opportunities with crypto-centric products and cryptocurrency education.”
In an introductory video announcing the investment scheme, the company specifically marketed itself to investors interested in “multiplying” their money.
The website is also filled with vague inspirational slogans like “dare to dream”.
It’s hard to understand anything about BitBlissCoin. The company has no products or services available to the public, and the whitepaper and website are a mess of vague information. Let’s take a closer look at how it works to decide if it’s worth your investment (it’s not).
How BitBliss Cryptocurrency Lending Token Works
BitBlissCoin is a digital currency for “The world’s first e-commerce, lending platform & cryptobookstore.” Basically, BitBlissCoin has introduced a digital currency that can be used to buy goods and services from their online store.
Unfortunately, BitBlissCoin doesn’t actually seem to sell any products or services. Instead, the company appears to offer just one income stream: a multilevel marketing-fueled Ponzi scheme. BitBlissCoin seems to advertise a system where investors deposit money, lock it up for a certain period of time, then make absurdly high returns. This is similar to how other crypto investment schemes have operated.
BitBlissCoin claims to have three main products. In reality, none of these products seem to exist:
- Investment and E-Commerce Platform
- Debit Card
- Crypto Bookstore
Together, these three products give users 7 different earning opportunities. Investors can earn money by participating in the lending/Ponzi scheme, for example, or by trading, staking, and mining coins. Investors can also refer friends to the platform to earn referral income through the multi-level referral structure. The bookstore also pays people to publish books or to sell books through affiliate links.
Ultimately, it’s a bad idea to send money to any company before they’ve released any products or services. Despite the fact that BitBlissCoin has released nothing, the company has already scheduled an ICO at an incredibly high valuation.
The BitBliss Coin BIBC ICO
The whole point of BitBlissCoin is to convince you to buy their coins during the ICO. The ICO began on January 8 and will end on February 25, 2018.
The coins were initially priced at $0.85 per BIBC during the beginning of the token sale, rising to $1.30 per BIBC by the end of the token sale. Users are required to buy a minimum of 50 BIBC.
The company claims the money raised from the ICO will be put towards product development and maintenance (30%), business growth and development (25%), marketing and “customer development” (20%), reserve (10%), operations (10%), and legal (5%).
The whitepaper is filled with sentences like “Huge Return on Investment”. These sentences lead investors to believe that they’ll get rich quick by buying BitBlissCoin today. Like other online scams, the BitBlissCoin whitepaper is filled with stories about people who became bitcoin millionaires overnight with limited work required.
BitBliss Coin Investment Packages
BitBlissCoin doesn’t seem to offer any products or services. Instead, the only goal of the company is to push users into a lending scheme. BitBlissCoin’s lending schemes include:
- $50 to $100: 60% ROI per month, capital unlocked after 279 days
- $101 to $1,000: 60% ROI per month + 0.10% ROI per day, capital unlocked after 249 days
- $1,001 to $5,000: 60% ROI per month + 0.15% ROI per day, capital unlocked after 199 days
- $5.001 to $10,000: 60% ROI per month + 0.20% ROI per day, capital unlocked after 159 days
- $10,001 to $100,000: 60% ROI per month + 0.30% ROI per day, capital unlocked after 99 days
Who’s Behind BitBliss Coin?
One of the easiest ways to spot a cryptocurrency investment scam is when the company refuses to disclose any type of personal information about its team or location. This typically means the company is ready to disappear if it faces any legal action.
Such is the case with BitBlissCoin: neither the website nor the whitepaper feature any information about the company or who’s running it.
BitBliss Coin Conclusion
BitBlissCoin is a complete scam. The company has no products or services in place, nor does it provide any proof that it will pay investors 60% returns per month and higher. Based on the total lack of information and transparency on the official website and whitepaper, we’re led to assume that BitBlissCoin is yet another crypto investment scam.