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Bit Elite Review: Bitelite.biz is a Bitcoin Scam

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Bit Elite Review: Bitelite.biz is a Bitcoin Scam

Bit Elite Review Update 2023: The owner decided to shut down the platform without notifying members and thus, ran off with their investments.

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More on Bit Elite

Bitelite.biz is a domain whose name reads like a snack food. They probably needed a hyphen after the word Bite. Let’s just say that Bit ELite is yet another hyip scammer intending to rob you in broad day light. Unless they can prove otherwise, there is no way we are going to change our mind on this verdict.

Having been incorporated in March 2018, Bit Elite creates the impression that they can make you rich overnight as a result of using their specialized ”analytical tools” for trading the Cryptocurrency market. They are allegedly making 15% daily returns from short term investments in the Cryptocurrency market. That is why this snack-food can apparently make you rich because 15% is equal to 450% in 30 days.

That is obviously impossible to gain. The scammers know it very well. But even if you did not know it, this review should serve as an eye opener. Here, we always encourage investors to think twice when confronted with too good to be true offers such as the one that BiteLite is offering.

Bit Elite Review

They call themselves an Elit Investment platform. The problem we have against them is that Bit Elite is not able to successfully demonstrate their activities in the domain of Cryptocurrency trading, plus their alleged daily income is unrealistic and achievable.

The entity is apparently registered as a company and is associated with someone called Bender Zaire. The correspondence address is 12 Walliscote Road, Bristol, United Kingdom, BS9 4RZ.

bitelite

They have also provided their phone and email contact for those who want to keep in touch. But having evaluated what they are offering, we have already concluded that their business model emulates that of a ponzi scheme. Contacting them would not do any good to you because these silver-tongued snake oil salesmen are really good at engaging you once more on a personal level so they can do what they know best.

This information can be found on the Companies House website of the UK government. However, when we conduct a brief investigation on who.is, we realize that the scammers are not too transparent here as they have enlisted the help of who.is privacy guard to safeguard this domain from further scrutinize.

Now, remember that Bit Elite is supposed to be your portfolio manager, yet they do not have a track record of ever managing client portfolio plus they are anonymous.

They even claim that their company is stable and guarantees income to everyone who invests with them. Okay, this is a white lie because no genuine fund manager can promise guaranteed income. If they say it is 15% per day, rest assured that they will be lying to you. They probably will be having a second agenda.

The so-called well-coordinated team of professional traders cannot be revealed to us. That means they do not exist at all. And if they did, rest assured that the website would not hesitate to introduce them for the world to become familiar with their faces and their work.

Basically, Bit Elite is a suspicious domain and a clever scam with the sole intention of robbing you. We have already found enough evidence.

Consider this: Company registration does not authorize these people to operate a portfolio management services. They need a license, which they do not have. Are there plans to apply for one? Not really. They are scammers, and frauds don’t qualify for a license of this nature.

3 investment plans

8%-12% per day is the promise of these 3 plans. Depending on what you choose, you could allegedly make anywhere between 8% to 12% a day. These contracts are supposed to expire between 30-60 days. This is not unusual as all scams in this category would want you to believe that you could get rich in less than 60 days. The idea is to sell overnight riches.

The way we see it is that Bit Elite is not a real portfolio management company but a hyip with no trading results. That is why there is no evidence of any trading activity happening anywhere on this website.

Is this a fact they will admit? Well, if they do not have trading history, then we have no choice but to label them fraudsters because they are insisting on trading when they are not trading in the actual sense. These investment plans are a way to make you send them your money. You’re going to lose your coins because payment is in BTC. Once payment has been sent, it cannot be reversed and no one can help you either. That’s what Bit Elite is all about.

Referral commission

5% 2% referral commission is what you are supposed to earn when you persuade your friends and family members to join the scam.

The thing is, no fund manager is interested in operating a referral program. Referral programs mostly exist in ponzi scheme businesses.

As you can see, this is a way to make more people join Bit Elite. Basically, this is a money grab that is looking to recruit as many people as possible. They do it through lies and deceptions which are sometimes easy to fall for if you are not knowledgeable in this industry.

Their address cannot be identified on Google maps

This is the final nail on the casket. These guys are giving us a physical address that cannot be traced on Google maps. So that means their location can’t be verified. You can’t trust them because they just proved yet again that they are completely anonymous.

Our best advice for you

Based on our analysis above, we strongly believe that Bit Elite is a ponzi scam and a place that must be avoided at all cost. If you want to earn Bitcoins, there are only two ways of doing that. First of all, don’t trust self-imposed fund managers who ask for promises to double your Bitcoins in a matter of hours. Secondly, you can only trade or mine Bitcoin for yourself. When you begin to see this reality, things will become much easier for you because you will be making more Bitcoins and avoiding scammers in the process.

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