As the cryptocurrency craze catches on, more and more scam sites emerge with the aim of fleecing unknowing investors of their money. Is BitChain.Live one such company?
Displayed on the website is the statement “stability. profit. success” But do they?
BitChain.Live is a High Yield Investment Program that makes use of trading bots to constantly monitor the exchange rates and help investors make the decision to buy or sell based on the unique algorithm available. With the state of the art technology, the company claims that their trading units are able to produce stable income on an hourly basis.
The Bit Chain Live company offers investors the opportunity to participate in their cryptocurrency mining farm investment process with a promise of reliable earnings as a result.
BitChain.Live Red Flags
But the following red flags show that the company might not be as transparent as they claim, even though they listed their Company NO (#10718852).
Scanning the site for a whitepaper yields no results. The website displays impressive hourly returns on money invested but there are no calculations, simulations or graphs to support how this is achieved. There is no disclosure the exact activities the company is engaged in for it to make gainful investment returns. In short, the figures displayed as returns on the site are just that, figures.
No Team Display
You would expect that such a company that prides itself on state of the art technology and a competent team of investment professionals would display the members on the site. Having a detailed profile of the elite team handling investments in the company would build investor confidence. However, the team at BitChain.Live remains anonymous.
Ponzi scams are known to offer affiliate links to investors on registration through which they are expected to introduce their family and friends for lucrative commissions should those customers invest in the company. Though not all affiliate programs are Ponzi scams, it is a red flag when there is no clear guide on how these commissions or returns on investments are arrived at.
Final Thoughts on BitChain.Live
Avoid BitChain.Live unless you are feeling frisky. It is a scam, whether we find out today, tomorrow or next year – one thing we know, programs like this are never meant to last long, so either get in early and pull out principle to derisk crypto investments and ride profits or roll the dice and try to flip coins for profits quickly.