With the boom that we are currently experiencing in the crypto world, it is obvious that there will be a lot of scammers who will come forth and try their schemes on the masses. For example, on the 22nd of November, Confido a crypto investment group that had been operating for a couple of years suddenly went offline and pushed off with nearly $375K worth of currency. Thus, with this current climate, we should be extremely careful when making deals pertaining to digital assets like ETH, BTC etc.

About The Billion Coin

Billion Coin (TBC) is a ‘cryptocurrency platform’ that claims to provide amazing returns within a very short turnaround time. This is a classic ‘fraud tool’ that is designed to lure in potential customers to make a quick buck. According to information present on the official company website, Billion Coin in can be used in various investment schemes so as generate highly unrealistic returns.

On a similar note, we can see that there are no subtleties on the official website, as the company flat out claims that it can help us get rich within days of use. This itself should be a warning sign for any potential customers.

Key Issues to Be Vary of

A quick visit to the website will reveal to us that The Billion Coin is quite obviously an investment hoax, which has been created by a group of people who are looking to take advantage of the current crypto boom. The website does not look like there has been much work put into it, and there are no details of any company members or their contact details. All through the page we can find data which tells us how this service can make us rich instantly, without ever giving us specific details or even a plan of action, as to how this will be achieved.

How Does It Claim to Work?

On paper, The Billion Coin (TBC) acts as an ‘investment platform’ where we deposit bitcoins, for whom we receive an average profit of anywhere between 2-10% on a near daily basis. The company claims that its services can be used for free, but there is a charge of $10 (annual) that is used for the maintenance of the wallet in which we store our crypto assets.

While all of this may sound fine and dandy, things start to take a weird turn when we see that the website states that the current value of 1 TBC cryptocurrency is over 141.4 bitcoins. This basically means that if we were to cash in 1 TBC right now, we would receive nearly 1.1 million Euros in return. This figure is not only wrong, but is also misleading. Lastly, if all of this insanity was not enough already, the Billion Coin platform also claims that when our investments hit “The Ultimate Price”, we can make a profit of up to 2000X (a claim which is absolutely baseless).

Other Dodgy Things About TBC

  • Promises Unrealistic Returns:All transactions are irreversible, thus if any deposits are made into the TBC network, users will immediately relinquish all control over their digital assets.
  • Similar to a Ponzi Scheme: another way of looking at the Billion Coin is that of a Ponzi Scheme. Initial investors are treated with respect, and company representatives initially respond to their transaction requests, but after a few transfers all funds are blocked.
  • No Owner related data: there are no details in regards to the owners of this website. In addition to this, the documentation that has uploaded on to the web page is sketchy to say the least. For starters, there has been no corporate, ownership or creator information divulged in the Terms of Use, Contact Us or any other pages found on the site.
  • Lack of Domain Information: another classic telltale sign of a scam is when the registered domain name can not be traced back to any one individual. The Billion Coin has been registered privately, and there are no names supplied in relation to this service to us.
  • Fairly New: a quick WHOIS search has revealed to us that the site was created on April 16th, 2016.
  • No Legitimate Associations:these days many new crypto services are coming together to establish a trustworthy network that incorporates a wide array of different services within the crypto community. The Billion Coin has no affiliations with any companies or individuals who have any sort of credibility within the crypto world.
  • No address or contact details: this is another classic telltale sign of a fraud which allows us to known that the product we are looking at is not to be trusted.

What Are People Saying About This Service?

A simple search online can reveal to us a large number of people who have come forth and said that the company has ripped them off.Not only that, there have been many reputable bloggers who have gone on record to denounce this website due to its illegal practices. Lastly, even members of forums like BitcoinTalk have mentioned that TBC is a “Ponzi scheme that should be avoided at all costs”.

The Billion Coin Conclusion

The Billion Coin is not a safe investment and has been made to target gullible investors who are looking to explore the world of blockchain technologies. Everything from their website design to their ROI’s are shoddy and unsubstantiated. From our side, we give this product a double thumbs down. As a rule of thumb, users should always keep a look out for the things that have been mentioned in the previous section so as to stay clear of any scams or potential frauds.

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