Cryptocurrencies are taking over the world, and every day sees the creation of new companies in the sector. A significant majority of these ventures specialize in Bitcoin mining and trading. Amidst several genuine enterprises involved in cloud,, mining are some Ponzi schemes looking to defraud unknowing investors.
Bitellion is hardly a week old, so it might be still early to make a call on which side it lies. Nevertheless, its mode of operations suggests it might just be the latest scam to mar this booming industry. The site is barely known to Google, and the few indexed results seem to be questioning the legitimacy of this venture.
What Is Bitellion?
This is primarily a bitcoin mining and digital currency trading company. Beside the above, Bitellion also indulges in research and development of cryptocurrency mining algorithms. Lately, the company has had a fair share of success which is attributed to the hours Bitellion's staff put in learning the technical and financial aspects of virtual currencies. As a result, the company is looking to venture into markets outside its native United Kingdom.
Similar to high-yield investment programs, Bitellion is a surefire way of making profits on a daily basis. Mostly, this platform profitably trade in digital currencies as well as positively speculating the trends in the securities' markets. The firm strives to keep its operation expenses as low as possible so at enrich the clients with highly rewarding investment packages.
Features And Investment Plans
Bitellion is an archetypal HYIP going by its outrageous profit margins. Within five days, this platform promises to return a profit of 241%. If an investor opts for the 8-day package, they a get a massive 605% profit after the period elapses. The last package lasts for 12 days, after which the clients take home a profit amounting to 1150%. Besides being enormous, the returns are perpetual, regardless of the prevailing market conditions.
In addition to the different investment bouquets, members can also earn cash through the platform's affiliate program. Here, a certain amount is given as commission for every successfully registered individual whom an existing client refers.
Is Bitellion A Trustworthy Venture?
Well, it might sound unfair to label Bitellion a Ponzi given that it is barely a week old, but all pointers are there. Ludicrous profits margins, perpetual returns and so on; you name them. These are the typical features of scamming high yield investment programs, a menace that is keeping away prospective investors from the cloud mining industry.
Risk transcends all sectors in the business industry, with the crypto sphere being one of the most affected. Their market value is highly volatile, which makes it virtually impossible to assure clients of ongoing and everlasting profits. Surely, this is a hoax meant to lure naïve investors who perceive mining as a get rich quick scheme.
Furthermore, it is uncharacteristic of an emerging projects to offer such enormous returns, an indicator that Bitellion is a pyramid scheme!