Bitcoin has taken the crypto space by storm. As more people who were previously skeptical about this digital currency as having real value put more money in this investment, the world is embracing this concept. However, with increased investment opportunities in the crypto world, there has been an unprecedented rise in financial fraud as scammers and hackers try to fleece unknowing investors of their money.
Groups of con businessmen have since set out to prowl on vulnerable investors and swindle them of their investments. They register companies and run websites to make their businesses look legit and anyone who falls for their schemes loses big!
One such company is the BitcoinCrypto.Biz.
What is BitcoinCrypto.Biz’s Background?
A quick look through the company’s website reveals an upload of the company’s registration certificate. But don’t be deceived. Most scammers are quick to post a registration certificate on their websites to make their business look legit.
But is the information provided verifiable? It is important to note that registration does not necessarily mean regulation. The company is registered for tax purposes. But who regulates their activities? Which financial police monitors Bitcoin Crypto Biz and which rules do they abide by?
BitcoinCrypto.Biz is a private limited company that was registered on 7th April 2017 by one director. It’s unexpected that a company that claims to offer such unprecedented ROI on a daily basis has only one director whose background is not verifiable. That’s a red flag.
More Red Flags
Apart from the director who can be directly connected to the company, the employees behind the success of the company are also unknown. BitcoinCrypto.Biz claims to be “a team of professional traders in cryptocurrency trading who know how to grab profit at the end of the day”, yet the team is confidential and anonymous. How do you trust an anonymous team with your hard-earned money, and believe that they will grow your investment?
The BitcoinCrypto.Biz site promises to double your investment in a week with daily interests of up to 7.2%. Is it possible? Or is it too good to be true?
Your guess is as good as ours.
The company promises these unbelievable profits to investors but has no whitepaper detailing how they expect to make money. What products or services do they offer retail consumers to earn the high profits for their investors? How are their financials? If it is a legit company, they should provide graphs, simulations or calculations to inform potential investors how they intend to grow their bitcoins. Splashing unverified figures and percentages on the website does not cut it.
The company also offers affiliate links to investors on registration. Typical of Ponzi scams, the company entices investors with promises of far-fetched commissions if they refer other investors to the scam site. BitcoinCrypto.Biz offers two level referral commissions on deposits of referrals to increase their web of deceit.
Our Final Thoughts
If you are looking for cryptocurrency companies or wealth affiliate sites to invest in look elsewhere. Don’t lose your money. BitcoinCrypto.Biz is a scam.