BitGlare BGC ICO: Self-Regulated Cryptocurrency Lending MLM?
The recent financial boom in Cryptocurrency technology has seen a sharp increase in the number of operators providing this technology for users. The new entrants into the industry come in with the hope of providing users huge returns on investment. BitGlare BGC is a provider that has modeled its motto on huge return on investment for users of its technology.
However enticing this may sound, the reality is that the interest rates this company has floated on its website are unrealistic and not feasibly sustainable in the long term.
Signs to be Wary Of
1. Team Information is lacking
An essential requirement of Blockchain technology companies is the detailed representation of the team that created the technology; this serves as a focal point for would-be investors to fall back on if they are ever in doubt.
Unfortunately, BitGlare doesn’t provide any detail of the people behind the technology, and this is quite alarming.
2. Copied Outlay
If you take a look at BitGlare’s website template, you’ll notice a similar resemblance to other competing MLM’s. This doesn’t need much exposure to tell you that this might just be a platform that is set up to grab cash from investors.
3. False Representation of Data
BitGlare’s website homepage claims that the company has been online since 2016. However, further research work conducted by seasoned professionals revealed that BitGlare’s Domain was registered recently in 2017. Information about the registrant of the website domain is private, thus deriving clear information about what team is running the website remains futile.
4. MLM Stratification
Taking a look at the website, you will find that the modus operandi of BitGlare is purely MLM stratified. This means only the first timers; the people at the top of the strata are going to gain profits from the system (that is if the system is genuine).
Other Suspicious Attributes of The BitGlare BGC Blockchain Technology
1. No Product Offering
After scrutiny of the website, we discovered that BitGlare doesn’t provide its customers with any goods or services. New users looking to sign up to the technology are only provided with an affiliate program. This is very shady since they claim to deliver financial returns that are unrealistic to potential investors.
2. Unreasonable Return on Investment
The company promises users a monthly return on investment in the regions of 60%-70% if you look at the current return on investment indices on other Blockchain technologies this claim is laughable.
Sustaining their numerical claims for long periods is impossible, and it doesn’t require a financial expert to come to this conclusion.
Investment Schemes on the BitGlare BGC ICO Offer
- Customers who invest $100 to $1000 are entitled to receive interest of 60% monthly with a daily matching bonus of 0.05% (149 days)
- Customers who invest $1001 to $5000 are entitled to receive interest of 60% monthly with a daily matching bonus of 0.10% (129 days)
- Customers who invest $5001 to $10,000 are entitled to receive interest of 60% monthly with a daily matching bonus of 0.20% (109 days)
- Customers who invest $10,001 to $50,000 are entitled to receive interest of 65% monthly with a daily matching bonus of 0.30% (89 days)
- Customers who invest $50,001 to $100,000 are entitled to receive interest of 65% monthly with a daily matching bonus of 0.40% (69 days)
- Customers who invest $100,001 and more are entitled to receive interest of 70% monthly with a daily matching bonus of 0.50% (49 days)
BitGlare BGC Conclusion
Having scrutinized the information we have outlined, you are left with the option of looking at this Blockchain technology as a scam. To emphasize this, customers are required to cough up $100 to earn commissions from referrals and daily returns on investment; this is a classic case of Blockchain fraud.
We advise potential investors to stay away from this technology as their capital will be at risk if they subscribe to this platform.