OSCARbit is a bitcoin investment scam that promises to pay you daily profits of 5% to 10%. Find out how it works today in our review.
What Is OSCARbit?
OSCARbit, found online at OSCARbit.com, is an investment scheme that makes numerous shady promises. The company promises to pay you daily profits of 5% to 10% guaranteed, for example. It even promises to give you free bitcoin.
Best of all, OSCARbit claims you don’t have to do any work, or take on any risk.
All you do is just give them money, and they’ll turn that into more money.
Obviously, ROIs of 5% to 10% per day, every day are unheard of in the investment world. No investment company is going to guarantee payments of 5% to 10% per day.
Nevertheless, OSCARbit promises to be a legitimate UK-based investment company that has found a legit way to gerenrate profit. With that in mind, let’s take a look at how OSCARbit works.
How Does OSCARbit Work?
OSCARbit claims to be a bitcoin mining company. They also participate in bitcoin trading. As the website explains,
“We don’t only mine cryptocurrency but also professionally use it on the stock exchange with the aim of increasing our profits.”
Aside from that brief bit of information, the company offers no explanation of how it makes so much money from cryptocurrency mining. A good cryptocurrency mining operation would pay out at 10% per year. OSCARbit pays out at 10% per day.
In reality, there’s no evidence that OSCARbit has any type of mining operation in place. The company never posts any information about its mining rigs or its pool. We have no information about where the mining farm is located.
Based on the total lack of information and proof, we’re led to assume that OSCARbit is a bitcoin-based pyramid program. You pay money to join the company. Then, you earn money by referring other people to the platform.
OSCARbit “Investment Plans”
OSCARbit advertises all of the following investment plans:
- Class 1: 0.21% ROI per hour, 5% per day, and 150% total
- Class 2: 0.25% ROI per hour, 6% per day, and 180% total
- Class 3: 0.29% ROI per hour, 7% per day, 210% total
- Class 4: 0.33% ROI per hour, 8% per day, 240% total
- Class 5: 0.42% per hour, 10% per day, 300% total
There are minimum and maximum investments for each plan. The minimum investment for the class 1 plan is 0.0030 BTC, while the maximum investment for the highest plan is 100 BTC.
Who’s Behind OSCARbit?
OSCARbit has taken the time to register itself as a UK-based corporation.
The company lists an address in London, although there’s no evidence that it’s actually based at that address. The company does have a legitimate corporate number (10920622), and you can view their registration online.
OSCARbit was incorporated on August 17, 2017. It’s not registered as an investment company. It’s registered as a “Financial Leasing” company. The company is registered to a man named Nixon Moreno.
Ultimately, the fact that OSCARbit has a UK corporation registration listing shouldn’t convince you that it’s a legitimate business. We’ve seen a number of bitcoin pyramid schemes take the time to register as a corporation in the UK. Anyone can register a corporation. It’s also important to note that OSCARbit isn’t registered as a licensed investment broker, which means they’re not allowed to sell investments to people like you.
Conclusion: Is OSCARbit A Scam?
OSCARbit can be a scam. The company promises high ROIs of 5% to 10% per day, guaranteed, despite the fact that they don’t report the logistics of their moneymaking operations. The company vaguely mentions a mining operation.
Ultimately, nobody is going to pay you an interest rate of 5% to 10% per day to borrow your money. Even if they did have a guaranteed moneymaking scheme in place, they wouldn’t be sharing it with the world.
With that in mind, you should avoid OSCARbit if you want to keep your money.