Bitcoin’s sharp rise over the last quarter of last year has awakened a lot of interest in the cryptocurrency world. However, recently, with prices looking extremely bullish once more, investing in bitcoin has taken a hushed tone, but an increased interest in cryptos has come with its fair share of consequences.
One of the challenges of new investors getting into the market is the increased number of fake ICO offerings, scams, frauds, and horror stories of big investors who have lost lots of money to dubious investments.
It’s important to make a conscious effort to research on the cryptocurrency investment you desire to get into. While there are some risks in the market, the opportunities to invest in scams may seem irresistible. However, being cautious is absolutely important, and there are some important signs of scams to watch out for.
BitTrade is a company whose dealings seem shady from just a simple Google search if that is anything to go by. There are many pointers that all seem to suggest that the website is just a few more days from getting an “error” message when investors are trying to log in.
What Is BitTrade?
BitTrade claims to be an investment platform that offers its investors access to all major cryptocurrencies. It claims that it uses only profitable strategies to ensure that investors do not lose their money. As common with HYIPS, they don’t disclose what they do to ensure members get paid such huge figures each day. Truth is, they pay you with your own money.
Like all other scams, BitTrade claims that they are made of an executive team of professionals who work throughout the clock to ensure that investors get returns on their investments.
A look at their website would fool you to think this is a legit site. It’s well designed and when you scroll all the way down, you will find an email contact address. We are not sure whether this works, or it’s simply for the records.
However, it is not clear where they are located or it’s owners. They claim to operate from Canada, but we still can’t be sure. Anyone can sign up and join Bit-trade, there are no geographical restrictions.
Th BitTrade Investment Service Project Compensation Plan
There are different investment packages on their website. Here is a breakdown.
- Starter Pack – 100 USD
- Standard Pack – 200 USD
- Ultimate Pack- 500 USD
- Professional Pack- 1000 USD
- Investor Pack – 5000 USD
Investors can make payments through the following cryptocurrencies: Bitcoin, Ethereum, Litecoin, Dash, and Ripple. An investor enjoys a daily ROI for 250 days according to the package they have chosen. There is no exact ROI provided.
They also have affiliate compensation plans.
- Level 1- Daily 0.10% of package
- Level 2- Daily 0.05% of package
- Level 3- Daily 0.05% of package
- Level 4- Daily 0.05% of package
- Level 5- Daily 0.05% of package
There is also matching bonus. Here is what you will get:
- Matching bonus Income First Pair 2:1 or 1:2
- After First Pair Next Pair 1:1
- Power Leg Carry Forward
- Left and Right Directs compulsory to get Matching Bonus Income
Their team leaders also get rewarded. However, they have not indicated how much leaders get.
There are so many red flags when looking at the website. One of them is the compensation plan. They promise their investors returns that are unbelievable.
The other reason to be worried is that the site owners are unknown. With the amount of investment plans they have, where would one get them if they wanted to know more about their purported crypto trading dealings?
Be careful before investing in BitTrade. That’s all we have to say. Sometimes, if it’s too good, think twice.