Bitether, found online at Bitether.org, is a cryptocurrency built on a copy of the bitcoin blockchain. Find out how it works today in our review.
What Is Bitether?
Bitether is a peer-to-peer cryptocurrency that uses a proof of work (PoW) protocol built on bitcoin’s original blockchain.
The developers describe the currency as “anonymous”, and claim it makes “electronic bank secrecy (or more precisely pseudonymous banking) possible.”
Now, here’s where things get confusing: there are two coins with the name Bitether on the market today. One coin is called BitEther Coin, or BEC. That coin is built on the Ethereum Classic blockchain and caters to ETC miners. The other coin is called Bitether, or BTR, which is the one we’re talking about today.
BEC has a lot more information about itself available online. Bitether, on the other hand, does not. We can find hardly any information about the currency available online outside of the official Bitether.org website.
Who’s Behind Bitether?
Bitether (BTR) was launched by MAK International. The company claims to have been working within the cryptocurrency industry since 2013. They’ve conducted 100+ seminars on cryptocurrencies and blockchain technology, and they have “knowledge, motivation and passion towards the crypto field”. That’s why they launched their own cryptocurrency.
The goal of the development team is to make Bitether (BTR) one of the top traded cryptocurrencies in the world by 2020. They also want to make Bitether the “most valuable crypto currency in term of market capitalization [sic].”
Obviously, these are ambitious goals. I don’t think we’ve reviewed a coin launched with the specific goal of beating bitcoin (and every other currency). Nevertheless, let’s take a look at some of Bitether’s unique features.
What makes Bitether unique from the thousands of other digital currencies on the market? Here are some of the unique features identified on the official website.
Token Distribution Pattern:
Bitether claims to have a unique distribution pattern. 62.5% of the token’s total supply will go towards circulation, with 25% going towards bonuses and sponsors, 10% going to promoters and directors, and 2.5% going to charity. The company describes this as a “very unique pattern”.
Multilevel Marketing Structure:
Of the 62.5% of coins entering circulation, 70% are going towards a fund labeled “MLM”, while 30% are going towards the initial coin offering (ICO). This seems to suggest that Bitether has some multilevel marketing structure. There’s a total supply of 35 billion coins.
Crypto Mutual Fund:
Bitether claims to have created the “most profitable portfolio system”. That system involves using different investment options in the crypto industry. The company vaguely mentions mining, trading, and “marketing” products and services, for example. The Bitether websites lists an expected ROI of 15 to 20% per month (!) on each of these products.
BTR holders will receive quarterly dividends on profits generated by the company. As mentioned above, the company is planning to generate profits of 20% per month on each of its products, so those dividends are expected to be enormous (because this is totally a legitimate investment opportunity).
Used For Shopping:
You can spend BTR on a number of different things, including a shopping portal at CryptoEMall.com (this doesn’t seem to exist), real estate properties, and international exchanges. None of these places are really listed on the Bitether website, so it’s not clear where you can spend your money.
Bitether has a mobile app that lets you track your account holdings.
You can get 5% commissions by referring any investor to the Bitether ICO.
The Bitether ICO
The ICO for Bitether (BTR) tokens is scheduled for September 17, 2017 to January 27, 2018.
A bonus of 10% is available until December 17. The price of tokens is set at a rate of $0.0147. You can send money to the company in the form of virtually any major cryptocurrency, although they’re not accepting fiat currencies.
Who’s Behind Bitether?
Bitether has a number of serious red flags – like the fact that it tells investors to expect 20% profit per month from the company’s products. So who’s behind the project? Bitether is being developed by a company named MAK International. The Bitether website describes MAK as a “crypto currency education training company actively working in the crypto industry since 2013.”
That company also vaguely mentions being “associated with real estate development industry too” on the official website.
We can’t find much information about MAK International available online. There’s a Palestinian food and beverage supply company named MAK International that’s been operating since 2001. However, we can’t find any further information about a cryptocurrency company named MAK International – like the names of people involved with the project, or why you should trust them to handle your investment.
There are two currencies under the name Bitether. One, called BEC, is a legitimate cryptocurrency built on the Ethereum Classic blockchain. The other, listed under the symbol BTR, appears to be a scam. The company’s website is poorly designed and features countless red flags. The company claims to be building products that will generate returns of 20% per month – yet none of these products are listed or explained in further detail.
Ultimately, there doesn’t seem to be much reason to invest in the Bitether (BTR) cryptocurrency or its ICO – at least until the founders release more information about their business model online.