Bitmay claims that it is offering the most secure mining and trading platform. They claim that they are the industry leaders in Crypto currency mining and that we can get access to the latest mining equipment through them. The site was registered in September 2018 but ownership information is kept private, which is something we think is very suspicious.
On their website, BitMay tells us that they have a presence in the US, UK and Netherlands while also serving some 50 countries across the world. This begs the question of whether BitMay is registered to offer securities in the US. You see, if they claim that ROIs are generated through trading and mining, this is considered securities, and US financial regulators often watch out for companies like this who supposedly provide investment products without a license.
According to the Alexa ranking of this site, most of their traffic at the moment is coming from Philippines. So it is very hard to believe that the website is actually based in any of the 3 countries which they are mentioning in their marketing materials.
The website states that the operations of BitMay involve trading, mining, leverage trading and even lending. They allegedly use deposits to ”book trades” and also generate revenue from Bitcoin mining. There is reference to using the company’s capital in driving these operations, but this is not likely the case since the company has already admitted on their website that they are using investor funds to mine and trade.
Is there evidence of mining or trading as claimed in the marketing material? Let’s find out. But this generally looks like a suspicious investment operation and you need to exercise caution before you can even think of purchasing any of their investment plans. If you are serious about trading Crypto currencies, we have prepared a short list of trading bots that do that kind of work. You can access that list here.
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In the meantime, we will discuss what we know about BitMay and also the potential reasons why this may not be your ideal destination of investing your hard earned money.
The website has listed a number of supposed benefits of choosing to invest with them. They include speed at which funds can be deposited into their platform, stable hash power and 100 uptime for mining coins, maximum efficiency with high end mining equipment, investment planning, insurance coverage as well as safety and security of their clients funds.
They believe that everyone should have access to the latest technology for mining Crypto currencies right from the comfort of their home. So BitMay was allegedly designed by professionals to help realize this goal. The question is who exactly are these professionals? There is no hint at all, and this means the site is not very transparent and this makes it very difficult to gain public trust and offer their alleged products to their target clients.
We are especially never comfortable with sites like these. We’ve looked at the user stats on this site and we feel that these numbers are quite misleading because there is no way a site that was created in November and has an Alexa ranking of 1 million can have over 10,000 registered users. It is just not possible and we feel that BitMay admin cooked up these numbers with the intention of swaying us into believing what is not really the truth.
Getting started with this site is allegedly so simple. You register, buy a plan and start making money. They claim that they are offering everyone an easy way to access Crypto currency mining services. But everyone is now making these claims and it’s very difficult to trust websites that make such claims if they have not presented sufficient proof of mining and trading activities. Actually, because of the claims being made by BitMay, we have decided to investigate further on these claims to try establishing the truth. Are they trying to mislead us the same way they have done with the fabricated user numbers on their site? Probably, but let’s find out.
These two are allegedly the main sources of revenue for this site. There are 4 investment plans to pick from. These include Welcome pack, Starter, Open minds and extra. Each of these plans offer various features to enable investors make money.
The difference between each of these plans is that all of them vary based on amount of hosts, hash rate and duration of contract but daily profit remain the same. Each one of these plans don’t charge a maintenance fee which begs the question of who is paying these expenses? If the consumer who seeks to mine Crypto currency is not going to foot the maintenance bill, then this is clearly too good to be true.
On top of this, BitMay is offering 3% daily ROI in each of the plans but this is just too good to be true because in a month, we will almost be recovering all the money that we invested. This is actually 90% ROI a month which has never been heard before in mining and trading combined. These profits are too good to be true and BitMay should probably give us another explanation for the source of the money which they are allegedly paying out to their members.
Honestly this program looks too cheap to even recommend here. The promises of 3% daily ROI is not realistic and also there is zero proof of trading including mining which seems to be the main activity on the sales page.
The company has not provided to their audience that they really have mining facilities. So this looks like an MLM or ponzi scheme where deposits are collected and a small portion is paid out.
We have no faith at all that BitMay will generate the ROIs it is advertising. Moreover, there are no user feedback out there and yet they claim to have 10k users. Please stick to these mining websites.
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