2017 has seen the start of a new economic era that is based upon the use of cryptocurrencies. According to conservative estimates, the crypto market is currently valued at over $200 billion. While, Bitcoin is still clearly the ‘alpha’ amongst all of the digital currencies available today, there are many other competitors like Ethereum, Monero which are also steadily increasing in value.
In addition to tall this, there has also been a huge increase in the amount of ICOs being launched on a near daily basis. An initial coin offering is a platform that allows businesses, startups to offer potential investors with tokens or coins, so as to help them gain funding for their project.
To start proceedings off, we can see that BitFinTech is one of the many MLM (Multi Level Marketing) schemes that have infested the market in the past few months. It claims to help users make a lot of money within a short span of time, however it provides us with no road map for the same. Some of the things that one should be vary off when using BitfinTech include:
(i) Suspicious Online Activity:
According to the company’s official website, they have already met 24% of their sale targets. During the first few days of the presale, there was immense twitter activity on the company's behalf, but after only 13 days, all response from company's side came to a halt.
Usually, high quality service providers/products like to keep their gentry involved with all of the latest proceedings and happenings in order to instill market confidence. However, the folks at BitFinTech seem to have done exactly the opposite of that.
(ii) Broken Links:
All through the website, there are many broken links which can act as tell tale signs of poor planning and decision making. When we clicked on the FAQ page, we were redirected to the home page. Similarly, when we clicked on the “contact us” page, we received a 404 error. This shoddy workmanship does not instill confidence in potential investors.
(iii) No White Paper Available:
One of the basic requirements of any crypto project is that it should come with a detailed white paper, that helps us see where exactly the project is heading. When we clicked on the whitepaper link on the company’s official website, we were simply redirected to the home page again.
(iv) New to the market:
The domain name registration was done on the 6th of November, thereby making it quite obvious that this project is a quick cash grabber.
(v) No Member Details:
The website is registered under a Dinah dot, and for those who don't know what we are talking about, Dinah Dot is a platform that sells hosting and domain names (as well as website templates) at very cheap rates (about ten dollars a year). As a result of this, there is no name of one single person behind this project, making it clear that the person behind BitFinTech does not want to be identified.
Other Dodgy Details
(i) Weird Traffic Flow:
According to our research, most of the views that the website is getting come from developing countries such as Ukraine, India, Vietnam and Venezuela.
(ii) No contact address or details:
There is no way to get in touch with anybody related to this project. There is no physical address, phone number, or even an email id on the web page, that we can use to get in touch with somebody related to this project.
BitFinTech Review Summary
After our analysis of BitFinTech, we feel that this service is not to be trusted. It displays all of the classic signs of a potential scam, and thus users should be vary of this product. However, this is only our opinion, and if users wish to still invest their money in this project, they are free to do so.