As a cryptocurrency investor putting in your capital in an investment whose background you have not verified might cost you dearly. Especially now that financial fraud has been on the increase over the years. As Bitcoin and other digital currencies become popular in the financial world, the number of scammers and phishing sites has been unprecedented.
One such site is RexBitcoin.com, a site that says you can multiple your bitcoins daily.
What Is Rex Bitcoin?
Like most High Yield Investment Programs, RexBitcoin.com claims to be the world’s leading Investment Company offering a wide-range of services, trading and growing cryptocurrency investments with unprecedented returns. They promise to offer the highest levels of client service as they create value for clients who just need to sit back, relax and earn a lot of money as passive income. But is it too good to be true?
The company registration cannot be verified and its history be cannot be ascertained.
The RexBitcoin Whitepaper
A quick search through the site yields no whitepaper for investors to understand the activities the company is involved that yield lucrative returns for investors. There are several figures splashed on the site as hourly returns on investments, but there is no way of verifying how these results are arrived at. A legit site will offer a whitepaper detailing activities the company invests in, the expected results and the simulations, graphs or calculations showing how the results are arrived at.
The Rex Bitcoin Team
The company prides itself on being a world leading Investment Company yet investors cannot put a face to the team of professionals expected to handle their investments.
The company promises lucrative referral commissions to investors who invite their friends and families to join the company through their referral links. Typical of Ponzi scams, the company seeks to spread their net of deceit as far as possible to capture as many gullible investors as they can. They offer two levels of commissions which again cannot be verified as there is no white paper available.
RexBitcoin Final Thoughts
RexBitcoin is a tough investment to recommend based on lack of transparency, model of business model, and the extremely aggressive marketing language of promising and guranteeing daily returns says most of these are a scam in similar fashion. Don’t invest your money in the company and instead look at other options to earn more bitcoin and invest in strategies that can work better, safer and more long term.