Estimated reading time: 5 minutes
Bitcoin Bank is a suspicious investment program because it makes falsified claims that cannot be verified. It is an all under one roof investment program where anything goes, as long as we are talking the language of Cryptocurrencies.
Bitcoin Bank is headed by someone called ”Marvin Deen Freeman” which could be a fabrication as well since we don’t believe that such a person is the admin of this website.
Bitcoin Bank plans to steal from its users by first presenting itself like a Cryptocurrency bank with a wallet, payment cards, and an investing feature. The investing feature in question is known as Lending program, or rather the usual lending program where scammers ask you to lend to their software so that they can help generate crazy returns for you.
Now, BitcoinBank is also generating and selling its own fake Cryptocurrency which they call BTCB coin. You might mistake the abbreviation of this coin for Bitcoin’s BTC. Be careful because this is a ploy to imitate a legitimate Cryptocurrency with the aim of defrauding investors. This trading software which you are lending BTCB coins to will allegedly make you 0.000005 BTC every day. Is this true? Definitely this is a hoax. We will see below.
You need to be aware of the fact that ponzi schemes are nowadays sophisticated and not too obvious to spot. Bitcoin Bank cannot convince us otherwise because it is already showing the usual characteristics of a lending ponzi scheme with a fake Cryptocurrency not worth buying. In fact, modern ponzi schemes have fake coins which they are offering for a price. Whenever you buy such a coin, you lose money because you are spending real value to acquire nothing.
We came to learn about this bogus scheme when an infamous ponzi scheme called Bitconnect came online some time last year and eventually collapsed in a spectacular fashion. Their admins are currently dealing with a lawsuit which is related to defrauding victims on the internet.
NB: Interested In Trading Bitcoin And Other Cryptocurrencies for Profit? Now, You Can Trade Better, Faster and Smarter for More Profits With Ready to Use "High Performance" and Approved Verified Robot. With This Software, You Are Not Only Able to Auto-trade Bitcoin and Other Cryptocurrencies Profitably, You Can Also Invest in them or Other Newer Cryptocurrencies. You're Given a Dedicated Account Manager After You Fund Your Account Who Will Help You With the Best Settings and Strategies To Get the Most Out of Your Investment. Click the Banner Below To Register Now:
Note: If your language is not English, you should use the language dropdown menu at the top right hand side of their page to select your language.
This is clearly the path of Bitcoin Bank which is obviously trying to implement the dangerous ways of its former self, Bitconnect.
When someone tells you that they will give you a fixed daily return if you use their robot, you should definitely know that you are talking to a scammer or someone who is very ignorant on matters related to trading.
This is Cryptocurrency trading, and the volatile nature of Cryptos is certainly something you cannot predict. That means you cannot promise a fixed daily return in any way.
The other concern that we have against this website is that they claim they have a trading bot yet no activities of that trading bot were presented on this website. They would have certainly done a good job if they spared time and resources to talk more about the alleged software and its performance. By saying ”talk”, we mean giving some verifiable proof of performance.
So far, this has not happened. It was just mentioned in the passing, meaning that they are not even serious about it. You can rest assured that these guys are taking you for a ride on this matter.
After thoroughly reviewing the alleged team members of Bitcoin Bank, we are convinced that they are fake and anonymous. They cannot be verified either because their profiles are fake.
Although they recently added a few LinkedIn profiles, clicking on those links will lead you to empty profiles with no history or proof of work in relation to Cryptocurrency investing.
And definitely there is plenty of evidence that these guys are using stolen photos to try and fool the public. It is unacceptable.
Before we forget, the scammers behind Bitcoin Bank have gone ahead to use the photo of a French Journalist called Aude Lancelin. They don’t have to fake it for us to believe them. If Bitcoin Bank is truly legit, we will know it even without much of this lying and nonsense.
Now, the fact of the matter is that Bitcoin Bank is giving a service in the area of investing. They are also an advisory service that deals with finances.
The problem with this illegitimate business is that the team is definitely fake, and the owner does not wish to expose their identity. They have opted to remain anonymous up o now.
These crooks have not registered Bitcoin Bank anywhere, plus they don’t have any proof to show that they are licensed. What does this mean? It means that they are operating this business illegally and with the intention of scamming investors and distancing themselves from any responsibility that may arise from such losses.
But there is this one thing that everybody should know about Bitcoin Bank. The British Columbia Securities Commission recently published a warning against Bitcoin Banks and other related ponzi schemes operating in the country. The regulator raised some serious concerns against this website. It’s your job to go and ask regulators in your country. They will confirm the same thing to you.
Since it’s a sophisticated ponzi scheme and that’s a fact, you must know that anybody wanting to participate in a modern ponzi scheme must purchase a useless altcoin. In this case, we are talking of purchasing BTCB. Once you have bought a worthless coin with real money, they will ask you to ”invest” it with their robot so that they can allegedly trade it for you.
This is just pretending and not trading because no trading activities will be taking place in this website. The scheme will instead use a portion of their earnings from new deposits to pay existing members. This is a scheme that is meant to attract new depositors before they eventually hit a threshold and disappear with everyone’s money.
Help Us Fight Scams. Please Donate to Support Our Work. No Amount is too Little or too Big. Thank You..
August 23, 2017 By Warren
Some social media users have been blasting and trolling Meir Barak of Tradenet because he said in one of his...
June 7, 2017 By Warren
Is Forex School Online going to really teach you the right skills needed to make money from the markets? We...
June 6, 2017 By Warren
The word ''Forex'' is an intriguing phrase for most people. That alone makes the Forex market a healthy breeding ground...
June 6, 2017 By Warren
Traders Elite (traderselite.com) is a scam that claims to have the secret of identifying the exact millisecond to enter and...
June 4, 2017 By Warren
The Forex market is a lucrative place to be. However, it is also a conducive environment where scams like Super...
Valforex.com cannot be held liable for any damages incurred due to the usage of any information displayed on this website. The information and trading guides found on the website constitute the authors’ opinion only. Both Forex and Binary options involve high-risk and are not suitable for all investors. Either Forex or Binary options may not be legal in your jurisdiction. It’s visitors’ responsibility to make sure these entities are legal in their jurisdiction before engaging in trading activity… Read More
Get Started With Digital Options Now. No Experience Required!
NB: You won’t see this offer again.