Cryptocurrencies seem to be the next disruptive technology of our time. They are making an impact that is overturning traditional payment transfers by allowing direct money transfers via the Internet. Their value has plummeted since 2017 and they represent a future where digital payments can be secure.
Fueled by the growth in Cryptocurrencies, many companies are now offering digital currencies investments. The sad thing however is that most of them are scams including MultiplyBits.
How MultiplyBits Works
MultiplyBits is a bitcoin trading company that claims to have been established in 2010 and based in the US. However, the site has been online for only 6 days. The company promises to provide investors with financial freedom and grow the promising decentralized digital currency market.
To invest with MultiplyBits, one needs to create an account in a quick and easy process, make a minimum deposit worth $25 Bitcoin wait for massive profits. There is no maximum deposit. The minimum withdraw is $25 since bitcoin transaction fees are high. This raises an alarm as to whether their aim is to even get extra cash from investors.
Many of their processes show clear signs of a HYIP. According to information posted on their website, the company claims to apply a clever approach of buying bitcoins when prices are low, and selling when prices are high for profit.
Additionally, the site owners claim to only allow long trades to ensure safe transactions. What investors may not know is that these are ‘genius’ methods used to hide the company’s real mission which is to allure them into investing with them.
Can I Invest With MultiplyBits?
Only if you want to lose a lot of your hard-earned cash. Like any other trading, investing in Cryptocurrencies is tremendously risky. But is it even riskier when the bitcoin trading company is a scam.
Typically, MultiplyBits a Ponzi scheme promising untenably high investment returns by paying investors with money deposited by new investors. They have an affiliate program where investors earn profits when they invite new ones. We all know how such schemes end, right? Trying to invest with them may actually leave you, make a guess – bankrupt.