While many people believe that bitcoins and other crypto assets are the fastest means of making big money these days, it is also a reality that there are many deceptive services that are out to lure susceptible investors. FastestBitcoinGenerator.com seems to be one such service because it claims to deliver amazing returns, without supplying any real information as to how they claim to do such a thing.
The program uses classic scamming techniques to help bring in customers. For starters, its whole premise is built upon fake testimonials and other the misleading information that has been fabricated.
What is Fastest Bitcoin Generator?
As the name claims, Fastest Bitcoin Generator is mining tool that generates encrypted codes via the use of so called “intelligent algorithms.” All of the technology being used by the company has been claimed to be ‘proprietary based’, and even the governing algorithms have been designed by a special team of ethical hackers.
When scrolling through the website, we can see that this platform claims to be a unique way of creating bitcoins. It also goes on to add that this mining software has the capacity to procure nearly 1 BTC a day, a claim that is not only unfounded but also not plausible since there is only a limited amount of BTC available in the market.
How Does It Claim to Work?
Quite like some other fraudulent services of this nature, Fastest Bitcoin generator use a simplistic and enticing approach wherein it claims to need a ‘small investment’ from the user's end. To start off, one needs to put in $200 so that we can be verified as being so called “real investors”. After the deposit has been made, the official software can be downloaded and the mining can be started.
In terms of software functionality, we can see that this platform requires users to input various specific details and parameters such as
- Desired hash rate
- Frequency rate
- Power efficiency.
Following this, we then need to select the amount of bitcoins we would like to generate (lol) , and subsequently click on the “Start Mining” button.
Signs to Be Vary of
(i) Fake Testimonials:
When visiting the site, we will be bombarded with a whole load of fake reviews and testimonials. Everything from the vocabulary, to the content of these reviews is quite obviously generated and comes across as fake.
(ii) Unfounded Claims:
Many startups clearly spell out their business model in order to give customers an idea of how the service functions. But Fastest Bitcoin Generator simply puts up claims of “generating 1 BTC daily”, without giving any details of how it does so.
(iii) No Personnel related information:
There are no solid details of any founding company members that can be sourced from the website. Only first names are mentioned, thereby not allowing us to search for the members online.
Other Details Which Don't Add Up
(i) Unrealistic Returns:
According to the company, the returns that can be expected are valued at nearly 4-10 times of the initial investment (on a near daily basis). Even a child can understand that this is just not possible, especially for more than a couple of days.
(ii) Contact Details:
There is no mention of the owners or creators of the site. All we have is a submission form along with the email address [email protected] on the ‘Contact Us’ page.
(iii) Fairly New:
This service is new, and according to a quick ‘whois.com’ search, we can see that the domain was registered on the 8th of August, 2017. It is owned by Phillip Skipper, whose address has been given as 3761 Counts Lane, Nicholasville, Kentucky 40356 USA. Additionally, his contact details include his telephone number is +1.859-885-6524, and email id: [email protected]
(iv) Fake Physical address:
The address given on the website is ‘3488 Patterson Fork Road, Chicago, IL 60607’. Upon running this address through google maps, we found no search hits, indicating that the address might be fake.
(v) Poor Popularity:
FastestBitcoinGenerator.com currently holds a website's ranking of 5,930,885. Nearly all of its traffic comes from youtube and other paid media platforms (nearly 52%).
Final Thoughts On Fastest Bitcoin Generator
After all the information we have gathered, it is safe to say that The Fastest Bitcoin Generator is a potential scam that uses some of the oldest tricks in the book. It plays on the perception that we can make money without doing much hard work (thereby luring in innocent investors). Neither the company’s deceptive mining program, or its unrealistic ROI’s can draw us from the fact that this platform is not to be trusted.