BitWaves is a new scam player in the Bitcoin investment niche. Why would someone keep making money for you while they gaining nothing in return? Look, BitWaves claims that when you purchase any of their investment plans, they will infinitely multiply your money for free for a lifetime, and you pay nothing. This is because BitWaves is apparently free to use, as long as you are 18 years of age. They do not charge commissions or fees. They do not even ask for identities of people who deposit or cash out from their system.

It seems strange. That’s why we had to investigate this matter. We discovered that BitWaves is a website owned by a company known as BitWaves Financial Limited. This is one of the many new companies that have recently appeared on the list of Companies House, a UK-based website that lists all registered companies in the country. The mere fact that a company exists in their database does not mean that such a company is legitimate. That’s the first thing you should know.

And secondly, even if BitWaves was registered by the FCA (because it is a financial service company), it would still not guarantee the safety of your funds, although it is always a good gesture to see that a company has sought the approval of the FCA. It would have been a good step forward.

BitWaves is allegedly investing depositor money in crypto-currencies and Fiat currencies on the Forex market. When you sign up and make a small deposit (according to their plans), you will make quick profits which come into your bank account 24/7. The company claims that they will handle the rest for you. Your part is to make a deposit and leave the rest in their hands.

To us, this does not sound very convincing. When someone says that they will handle your investments for free or without requesting for a commission, then it means that they are thieves who are looking to steal your funds entirely. There is no question about it.

Note: here is a list of legitimate crypto TRADING companies currently available on the web.

BitWaves Review

BitWaves offers 4 plans in total. A depositor is supposed to choose a plan accordingly. The basic plan yields 4% daily returns. The minimum investment is 0.005BTC. Like the rest of the plans here, this one does not have an expiry date as it runs for a lifetime, meaning that you will earn 4% daily return on investment for the rest of your life or until you choose to opt out.

Have you asked yourself what 4% daily return would mean in a month’s time? It would mean 120% return on investment. How about their second plan (5.1% daily return), third plan (6.3% daily) or fourth plan (7.1% daily)? The amount you could earn is even getting higher and higher.

Then when you add the so-called referral commissions which is 9% across 3 levels of deposits, the amount becomes ridiculous and even impossible to achieve.

We have said time and again that there is no ridiculous amounts of earnings with Bitcoin or any other legitimate business on the internet. As long as you’re running a legitimate business operation on the internet, you will never make huge returns in a short time. Of course only criminal enterprises do make this amount of money because their operations involve fleecing people’s wallets.

But with BitWaves, it is not possible to make a single penny with any of their investment plans. If they were real, everyone would have signed up by now. Everyone would be rich in a month’s time. Why is it that people are reluctant to put their monies into a scam like BitWaves? Because the result is often anticipated way before they scam you. This is why nobody bothers to put their money in Bitcoin scams coffers.

BitWaves Financial: The company that runs this scam

Let’s start by discussing this company, Bitwaves Financial. They got registered in the UK in October this year. That means they are only a month old, no trading history or payouts have been issued either. We bet that not even a single customer has knocked their door, seeking to invest in their plans. One month of operation is a very short period of time for any business that is relying on internet customers to become successful.

In this case, we even have ”records” of deposits and payouts on their website. Essentially, this site is claiming that their business was launched a month ago and it is already running in high gear. It is somehow finding new customers on a daily basis. Maybe their advertising is good, we may never know. But even if they were so good at marketing, the kind of numbers which we see on their ”customer records” is not convincing.

Besides, this company would want you to believe that now that they are registered in the UK, they must be legitimate. The registration number which you’re seeing on their site was meant to facilitate convenient tax reporting. It does not say anything about the legality or credibility of Bitwaves. Like BitRoxa and many others, Bitwaves just signed up to pay taxes.

The most important thing to consider here is that Bitwaves is a financial service, and in that sense, they need authorization from the FCA. That’s the first step before going to many other things which we are now seeing in this website.

The fact that they have skipped the most important step means that they are a rogue company running an illegal website.

The profit potential is unsustainable

Even if Bitcoin trading was so profitable, we don’t think that anyone would sustain 4% daily return forever. Keep in mind that this is a fixed return on investment, meaning that the company is promising a profit of 4% on a daily basis, rain or shine.

If you managed to make profits this way for one month with cryptos, you’d be a lucky fellow. However, these returns are certainly not achievable in the long run.

Moreover, Bitwaves would never do it for free. They would either charge exorbitant fees or steal your money to compensate for the services offered.

As currently constituted, this business model does not make sense. That’s why it is most likely that Bitwaves will still all your Bitcoin.

Evidence that Bitwaves is just a ponzi scheme

It is easy to spot a ponzi scheme just by looking at their site and description of business. With this website, we don’t see any proof of customer activity. If they were issuing payouts for real, they would have been more than happy to show evidence to the world.

Why is more emphasis put on new members joining instead of describing what is really going on here? Why the emphasis on referrals?

This is one and only characteristic of a ponzi scheme. They collect funds from people who join. The more deposits they receive, the more they grow richer. At first, payouts may be offered. But this cannot go on for a long time because they are in this to make profit, not to please you.

Our best advice for you

UK company registration means nothing. What you’re seeing as ”proof of customer activity” means nothing either.

What we need is concrete evidence that this company is trading cryptos and making profits as they claim. We don’t need generic explanations of how money is made. We do not need it impossible to achieve returns either.