Bitcoin5, found online at Bitcoin5.io, is a bitcoin investment fund that promises to pay you 5% per day. Find out if Bitcoin5 is a scam today in our review.
What Is Bitcoin5?
Bitcoin5 appears to be a bitcoin investment scam. The company advertises enormously high returns to lure in gullible investors. It uses fake testimonials to promote the scam. Then, it accepts your deposit and disappears.
After 5 seconds on the Bitcoin5 website, you’ll see many red flags about this investment fund. But the most important red flag is that the company advertises an ROI of 5% per day. Sure, sometimes the company says, “up to” 5% per day. However, they also specifically say things like, “In the end, in just 20 days your funds will grow by 54.45%.”
If someone on the internet tells you they can grow your money by 50% or more in a 20 day period with no risk, then you can be almost certain that you’re being scammed.
How Does Bitcoin5 Work?
Obviously, Bitcoin5 is a scam. However, how does the company claim to boost your investment income and provide returns of 50% or more? Here’s how the company describes its investment strategy:
“Smart investments managed by competent professionals can bring stable passive income to the experts in this field as well as to the individuals who have the money but no expertise. Attracting private funding to high-yield investment projects enables millions of people worldwide to make money.”
Basically, Bitcoin5 will take your money, invest in stuff, and then you get a guaranteed return of 54.45% after just a 20 day period.
There’s no evidence that the fund has ever made any money, or that anyone on the management team is a qualified and intelligent investor.
How Does Bitcoin5 Really Work?
Bitcoin5 tosses around words like “cryptocurrencies” and “investment opportunities”. However, in reality, the company just appears to be a pyramid scheme.
Bitcoin5 has some type of referral system. When you join the company, you’ll need to enter the name of the person who referred you. Your joining fee gets funneled to that person, and then up to the top of the pyramid.
Then, the only way to recoup your investment is to convince other people to join the scam. You send people your referral link. Then, you continue building out your downline. You receive a portion of each member’s first deposit.
Pyramid schemes like this work until they collapse, at which point everybody except the top individuals will lose their money.
Funnily enough, the pyramid scheme commissions are the only place where Bitcoin5 goes into detail. The company will give you 8% of the total amount of deposits made by level 1 partners. That number drops to 2% for level 2 partners and 1% for level 3 partners.
However, if you give more money to the company on signup, then you’ll qualify for the Advanced Partner Program, which gives you 5 levels of commissions.
Aside from recruitments, Bitcoin5 has no products or services to offer. There are no investment opportunities – you can only make money by recruiting new people to the platform. And again, even with this commission-based pyramid scheme, there’s no evidence the company will pay you or ever let you withdraw your money.
Who’s Behind Bitcoin5?
Bitcoin5 lists an address in Manchester, England as its headquarters. They also provide a single email address, [email protected], as the only contact method for the company.
As with other bitcoin scams, there’s no information about the management team or anyone involved with the project. In fact, the “About” page features two stock images for fake individuals.
Jason Shriver, for example, claims he’s the “head of the technical department of Bitcoin 5” and describes his team as “a very capable team of programmers and information security experts.” As proof that Jason exists, he posts a stock image.
The only other name attached to the project is the name of Marcia Jenkins, who claims to be a UMass Doctor of Economics and Head of the Investment Marketing Department of Bitcoin5.
Again, there’s no evidence any of these people exist, and there’s certainly no evidence they deserve your investment money. We have no information about the owners of Bitcoin5, the CEO, or other key figures. The website appears online earlier this year.
Based on everything we can find online today, Bitcoin5 is a blatant scam. The investment opportunity claims to offer returns of 5% per day or 54%+ in a 20 day period. There’s no evidence that the company has ever paid any investor any money, nor is there any sign that you’ll be able to withdraw your money after you give it to Bitcoin5.
The high investment yields with no risk are a major red flag. However, they’re certainly not the only red flag. Bitcoin5 features fake testimonials from people who supposedly work at the company. Those testimonials are accompanied with stock images of businesspeople.
Ultimately, Bitcoin5 is some type of bitcoin pyramid scheme or investment scam. There’s no evidence showing it’s a real investment opportunity. If you deposited money with Bitcoin5, then it’s probably already gone.