It is unfortunate that the internet has become flooded with a large number of crypto ventures that are fraudulent, and are basically looking to scam susceptible investors. They usually claim to help deliver ‘large returns’ within unrealistic time periods. Most of them come in the form of either Ponzi schemes (MLM’s), or as High Yield Investment Programs (HYIP’s).
Thus, if ever we see those words associated with a crypto project, we should become vary of them. From our side, we recommend that users do a thorough background check of the company, and see whether the creators/ developers of the project are legitimate. Other than that, there are many other things that we can look at so as to verify whether a project is for real or not.
About Bitcoin Citadel Investment
Bitcoin Citadel Investment is being touted as an ‘investment plan’ that allows for amazing ROI’s. However, all of its claims are completely baseless and have not been founded on any empirical evidence. When taking a closer look at the website, we can see that pretty much every aspect of the site is conjured and fabricated.
Some of the concerning aspects of Bitcoin Citadel Investment include:
(i) False Information Regarding Founders:
The names of the people behind the project are false and cannot be verified online. They have no professional LinkedIn pages, and there are no details of their background, educational qualifications etc.
(ii) Fake Testimonials:
The testimonials that are available on the page are obviously unreal as they claim to be from users who have been with the company from the very start. However, when we dug a little deeper, we found that the site has only been active for a few months.
(iii) Unrealistic Returns:
As mentioned earlier, the returns on investments being offered are extremely high, and thus cannot be sustained for a long period of time. The company claims that by investing Ethereum and Bitcoin, we can receive interest rates that can vary anywhere between 170% to 200% within a 24 hour deposit period.
(iv) False User Statistics:
According to their site, “over 2 million users across 130 countries around the globe are currently utilizing their platform.” This number cannot be confirmed by any market study or statistical research.
(v) Poor Web Rating:
The website was ranked poorly and generated most of its traffic from a country called Burundi which is located in Africa.
Who Is Behind Bitcoin Citadel Investment?
The website is “apparently” owned and operated by a private entity called “Bitcoin Citadel Investment LLC.” However, when we conducted a Who.is search, we found that the corporation does not really exist. Also, as mentioned earlier, the company claims to have been in the market for over 25 years, but our investigation has shown that the site was registered on the 12th of June, 2017.
What makes matters even more suspicious is that the names of the domain owners have been hidden. In terms of the pictures of investors that can be found online, we found that two of them were stock photos obtained from google, while the other two seem to have been manipulated through the use of a third party editing software.
Investment Schemes on Offer
To give users a better idea of the unrealistic returns we were talking about, presented below are the various investment schemes that customers have a choice between:
- Personal Investment: ROI: 100%; Deposit: 0.0056 BTC – 1.99 BTC; Duration: 7 hours.
- Venture Capitalist Investment: ROI: 200%; Deposit: 2.0 BTC – Unlimited BTC; Duration: 5 days.
- Ethereum Investment: ROI: 170%; Deposit: 0.339 ETH – Unlimited ETH; Duration: 24 hours
Any person in their right mind should be able to see through this farce, as it is virtually impossible to deliver returns of 200% within a week.
Have There Been Any Complaints?
Yes. There are many dissatisfied customers who have called out this project on its fraudulent activities. Users can visit various crypto threads online to go through stories of people who have been scammed by this company. Lastly, one person even claims that he tried to go to the company’s official workplace (73 Murphy Street, Trigwell, Western Australia), but found that the address was a fake.
Bitcoin Citadel Investment Conclusion
As we have already mentioned, everything about this project reeks of a scam. Thus, from our end we would definitely advice users to stay clear of this venture. Since everything from the name of the operators, to the testimonials, and even their origins are fake, we would suggest that users put their money into ventures that have been verified by the crypto community at large.
To find such projects, users can visit bitcoin forums or other trusted websites such as icohunter etc. They provide users with a detailed analysis of the services being provided by the company that we are looking to invest in, along with other critical data .