So, now that it’s promising overnight profits that will baffle every financial expert, do you think there is truth in what they say?
You need to understand one thing. That if you fall for Bit detector because you read a review from a site that is seemingly reputable, you will end up blaming yourself because you didn’t conduct due diligence before making decisions.
It’s not about what you see. What you see can deceive you. It’s about your conscience and instincts. If Bit Detector looks like a scam, don’t doubt it at all. It is just a scam from the word go.
So in this Bit detector review, we will be analyzing the site while also giving you reasons why you should not go there.
Hopefully, you will save your BTC wallet from the imminent loss that this website is planning to impose on you.
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Note: Mine Bitcoins here.
When we look at the site that BitDetector is, we realize that it’s just a Bitcoin mining operation where visitors are being asked to make a deposit and leave the rest in the hands of the operators.
At the end of a mining day, BitDetector is supposed to hand over the profits to the investor. But you, as the investor, must trust them first by sending them a deposit in Bitcoin. And then they can invest it later.
We checked out their About Us page, and what we saw was that BitDetector was relying on two departments to make money for their depositors.
The first way of generating more Bitcoins is through mining in the cloud. The website claims that they have engineers and blockchain experts who mine Bitcoin on behalf of their investors.
The second method involves investing this money in major Bitcoin exchanges to make money for their investors. Is there any assurance that BitDetector is investing this money on the alleged exchange?
We don’t think so. These anonymous Bitcoin experts just want your Bitcoin. They are not speculators. They are not going to risk trading your Bitcoins so that they can hand over profits to you. That would be a foolish thing for a stranger to do, right.
What we hate about this site is the fact that no evidence or documents were ever presented as proof that these guys are really investing depositor money and handing down profits to them at the end of the day.
The site is not transparent with their dealings. This is a red flag as a matter of fact.
This site is operated by a phony company called BitDetector Limited. Their address is stated as 15 Norman Road, London, United Kingdom. We’ve not been able to confirm whether that address represents the actual location of this company.
Also, you see that there is some reference to the city of London. Most of thee Bitcoin scams now use London as their physical location because they want to give the impression that their firm is prestigious. Most prestigious companies are based out of London, so it only makes sense for scammers to also claim that they are based out of London.
When researching about their company status, we discovered that BitDetector was incorporated on September 6th, 2017.
The status of this company is ”Active”. They even have a registration number 10948166.
Now, that looks like this corporation is a genuine entity. But again, we can’t say that this company doesn’t engage itself in phony operations. Company registration doesn’t mean anything.
When we did more research, we discovered that someone called Brian Stepney was the Director of BitDetector. The guy was born in March 1972, and he is a British National. When we checked his address, we discovered that this was the same address as that used for his company.
So in other words, this guy was using his residential address. If not, he was using an address belonging to someone else and being consistent with the lies. One cannot be so sure.
There are two functionalities that this company’s operations are based on.
The alleged Bitcoin mining is just one of them. The second functionality of this firm is the alleged Bitcoin trading feature where investors are asked to make a deposit in Bitcoin so that the coins can be traded at certain exchanges for profits.
Now, according to the site, when you invest a minimum deposit of 0.001 BTC, you will be able to see hourly profit accruals in your account for the rest of your life. That is quite suspicious.
The other method of investing into BitDetector would be that of signing up for the referral program. Now, in this program, BitDetector is targeting marketers who can send more depositors on their way. When these people make a deposit, those marketers are promised fat commission. That is why you’re seeing some positive BitDetector reviews around.
They disregard the fact that this is a shady operation. Tactics are being utilized here to shortchange the masses because no genuine business can promise Bitcoins earnings on an hourly basis.
Right now, there are very many deceptive reviews and falsified photos of alleged earnings. These are spread on the internet by marketers.
When this happen, novice investors are lured into investing in a scam Bitcoin operation.
When you take it upon yourself to conduct thorough investigations, you will realize that BitDetector has a number of scam warnings which are easy to identify.
However, due to the high number of false positive reviews that are floating on the internet at the moment, it is rather difficult to find trustworthy reviews on this program.
While BitDetector has been blacklisted by some sites, the scam website still continues to operate anyway.
We managed to check out forums where BitDetector was being discussed. Many users there have even concluded that BitDetector is a scam.
The problem with this scam operation is that it is no longer processing any withdrawal requests.
At first, it started well. It used to process withdrawal requests. Then somewhere down the road, the owner decided to resort to outright thievery. So today they are no longer honoring withdrawal request from anyone.
Other forums have also concluded that investors should not commit their money to this scam because they will lose their Bitcoin.
Are they for real? Yes of course. These are real reviews and customer feedback, not reviews that were written by marketers.
When BitDetector, it used to pay investors. But it looks like this was just a ploy to attract many users. The site has since stopped paying its members.
What can we conclude then? We can comfortably say that this is a ponzi scheme. With so many complaints lurking on the internet, one can say that this is not a safe place to invest Bitcoin at.
So if you want to invest your Bitcoin safely, pick any one of these sites. We have carefully selected them, and that means you won’t lose your money.
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