BitcoinXL, found online at BitcoinXL.org, is a bitcoin investment scam that promises to help you get rich quick with no work, skills, or experience required. Here’s our review.
What Is BitcoinXL?
BitcoinXL is a bitcoin investment scam that promises to pay you enormous interest rates every hour and every day. Like similar bitcoin scams, BitcoinXL promises easy withdrawals, fast returns, and ridiculously high ROIs.
As you might expect, BitcoinXL is a complete scam. When a company offers you interest rates as high as 0.13% per hour or 3.12% per day – guaranteed – you can almost be certain that you’re dealing with a scam.
The website is also clearly catered towards novice cryptocurrency users. It’s designed to attract people who have heard about the “get rich quick” nature of cryptocurrency trading and want a piece of the action – but they don’t know where to start.
BitcoinXL launched online earlier in August. As of August 31, 2017, the website is down. Many people online are complaining about the company disappearing with their funds. If you invested funds with BitcoinXL, then they’re almost certainly gone.
How Does BitcoinXL Work?
BitcoinXL makes similar claims to other bitcoin investment scams. The company vaguely mentions things like an “automatic bitcoin trading and mining platform” managed by a “team of professional traders”. Somehow, this platform is capable of generating enormous profits.
Instead of keeping profits for themselves, the team behind BitcoinXL wants to share those profits with the world. All you need to do is send money to the London-based team, and you’ll start earning ridiculously high interest rates in a very short period of time.
Specifically, BitcoinXL advertises ROIs of 0.13% hourly or 3.12% daily with a minimum investment of 0.005 BTC. The more money you invest, the more money the company will pay you. If you invest the maximum amount (0.1 BTC or higher) then you’ll be paid 5.04% interest per day.
Ultimately, none of this information appears to be legitimate. Instead of running any type of mining operation or trading scheme, BitcoinXL appears to be a multilevel marketing scam or pyramid scheme: after you deposit money with the company, the only way to make a return on that investment is to convince other people to join the scam. You’ll get paid a referral fee of 5%, while the remaining money gets funneled up to the top of the pyramid.
Like other bitcoin investment scams and pyramid schemes, you’ll need to pay a fee to join BitcoinXL. The company offers four pricing plans. The more money you give the company, the more they claim to pay you in interest (although again, there’s no evidence that the company has paid anyone).
The lowest plan has a minimum investment of 0.005 BTC. The highest plan starts at an investment of 0.1 BTC. Interest rates range from 3.12% per day on the lowest plan to 5.04% per day on the highest plan.
Who’s Behind BitcoinXL?
Typically, the makers of bitcoin scams don’t give any information about themselves online. The same can be said for BitcoinXL
The company claims to be based in London. Aside from that, we have no information about the company or its team.
BitcoinXL launched earlier in 2017. The website was registered on August 8, 2017 and advertised its bitcoin scam throughout August. As of August 31, the website has been taken offline. The company appears to have attracted enough investments to make money, and they’ve shut down the scheme and disappeared.
BitcoinXL is a bitcoin investment scam that has recently been taken offline. The company never paid any of its affiliates, and it appears to have been a blatant pyramid scheme. If you gave money to BitcoinXL, then that money is gone. Check BitcoinXL.org to see if the scam comes back online again in the near future.