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In this review, we will warn you not to commit to Bitcgo. Otherwise, your investments will go to waste. That site is suspicious because they are selling too good to be true investment plans. If indeed people could generate 5000% returns in 35 days, everyone in the world would be rich by now. They would stop looking for more investment platforms because this one just works fine.
However, as you can see, Bitcgo is just hustling coins from random internet users and at the same time lying about their potential ROIs just to persuade them to join. Isn’t this one of the characteristics of a scam? Definitely. You can never make 5000% in 35 days. That’s a blatant lie and misconception. But as you can see, it’s targeted towards those who have never traded Cryptos before.
To put it into better perspective, 5000% in 35 days would mean generating 50X your capital in just over a month. It sounds too good to be true. That is why this site is worth investigating. But we already know that it is a cheap scam looking to steal your coins. Be warned. Bitcgo is quite suspicious based on the promises which they are making.
You will agree that Bitcgo is promising something that naturally sounds crazy. That’s because what they are promising you is not attainable. We have never heard of anyone trading and making that profit in a month. If they are the first to make 5000% in 35 days, they would have gladly dropped their proof for us to analyze and see that indeed these people are the ”Kings of trading Bitcoin”. But so far, nothing has been provided in terms of proof to validate some of the claims made by the Bitcgo website.
Bitcgo is a trading platform that is supposed to allow people trade in Cryptocurrencies. The fact that there are a couple of investment plans here means that Bitcgo is operating like a trust fund. The work of a trust fund is to invest on behalf of those who trust them with their capital. But they must have a license. Every legit trust fund that takes money from the public in the name of investing it must have a license issued to them by the regulator of the jurisdiction where they operate from. The job of this license is to inform you that the trust fund is regulated and professional.
So far, Bitcgo does not have a license, although they continue to operate in a similar fashion to a trust fund.
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This also proves that Bitcgo does not really conduct any legitimate business activity on the internet. They cannot qualify for a license simply because they are not professionals in trading and secondly, they are not trading in the first place. The money that is being collected by Bitcgo admin goes to the pockets of a scammer who then spends it the way he wishes. It is a ponzi scam in fact. How do we know that Bitcgo is a ponzi? You may ask.
There are lots of clues that Bitcgo has left behind. Let’s start with their corporation status.
Bitcgo is insisting that they are a legit and established company. But a quick background check will reveal that the company in question was started barely 2 weeks ago. They haven’t built any credibility yet.
Now, you have to realize that Bitcgo has basic company registration that says nothing about the legitimacy of their activities. However, according to them, this is all that is required to legally operate a trust fund. But according to the FCA, an entity needs a regulator’s license as well in order to legally operate a trust fund, something that this website’s operator has not done.
In other words, this company is illegally operating a trust fund, and that means they are intending to scam their investors.
We just have to look at the numbers to see just how bad a ponzi scheme this can be. The more the profit, the more unrealistic it becomes. The more proof regarding their ponzi status.
Here, new deposits may be used to pay out those who signed up with small amounts. But those who signed up with big amounts will be scammed right away. The reason for issuing payouts to those who have invested small amounts of money is to persuade them to deposit larger amounts of money. When they do this, they are hoping to scam a bigger amount of money from you. That is just how ponzi scams like Bitcgo operate.
While some details regarding the ownership of this company appear in the Companies House records, the admin of this website is really determined to maintain an anonymous profile.
That is why the domain is privately registered. By just looking at their who.is records, we can’t find the name of the domain registrant meaning that they have deliberately paid for this domain privacy service to be able to conceal their identity from curious people.
So the question is, why would a legitimate company want to hide domain ownership details? Think about it. Legit companies have nothing to hide and their operations are usually very transparent. But with this one, nothing is transparent. Their returns are ridiculous. We can’t believe that people can really get rich overnight by making use of Bitcgo. Like we said, everyone would be rich in the world today.
Beginners might get excited when they come across such websites. Our job is to warn them against sending any money to these scammers because clearly they neither trade nor mine Cryptocurrencies. And if they do, most of them never produce evidence of trading or mining. Without evidence of these activities, it is as good as saying that the entity in question is not engaging in any of these activities. So Bitcgo is basically a cheap scam looking to take advantage of you. Use these Cryptocurrency robots for trading instead. They are approved and highly effective in the market.
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