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Biteroi Review: This Scam Bites Bitcoins

Biteroi Review: This Scam Bites Bitcoins

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The US Securities Act of 1933 clearly prohibits offering of unregistered securities to residents of the United States. It does not matter whether the contract is exclusively between the fund manager and the investor. It is still classified as a security, and must be registered in order for that investment to be considered legal. Unfortunately, the declarations made by Biteroi on their disclaimer section of the site suggest that Biteroi does not understand what Securities are.

By stating that contracts between Biteroi and the investor has nothing to do with the US securities act and are therefore offering their service globally and to residents of the US, it is depicting the highest level of ignorance. The site is therefore offering 3 investment plans to all investors who are willing to send funds to their platform.

These plans are promising a daily ROI of 3%, 25% weekly ROI and 115% monthly ROI. They also claim that Biteroi uses the latest technology and experience to increase profits while reducing losses.

The question you must ask is whether Biteroi can be trusted. Are these returns realistic?

Biteroi Review

First of all, the site looks like a typical high yield investment program based on the promised returns. 3% per day would mean 90% per month. Yes, Cryptocurrency trading can be profitable. But it all depends with your strategy or the kind of trading tools you are using. However, 90% monthly return are not achievable. That’s an exaggerated figure. Trading is not a get rich quick scheme affair, and if you treat it with that mentality, you will be disappointed. If the site had said that they are generating up to 10% in monthly returns, that would be achievable.

biteroi

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But 90% or more in a month is definitely a fairy tale. We do believe that if the anonymous owner of Biteroi could double or multiply deposits over and over again, he would never see the need to hustle deposits from internet randoms. Honestly he would be trading for himself in a private island. He would be living a private and quiet life while enjoying the fact that he is the only one with the secret to financial freedom through trading.

You see, proficiency in trading is like a pot of gold, a valuable gift. If you have this ability, you cannot use it to help others for pennies. If you are to help others, you’d charge a fortune, right? Even the investment deposit would be attainable for the average internet random.

Based on this school of thought, we strongly believe that whoever owns Biteroi is not a great Cryptocurrency trader. In fact, they have never traded Cryptocurrencies or any other assets in their lives, hence the ridiculous ROIs. And if they are not traders, and yet they continue to operate a hedge fund business, then it only means that Biteroi is a scam ponzi scheme.

In this setup, the obvious will happen weeks or months from now. Biteroi is currently collecting deposits anywhere between $25 to $200,000. When you send funds to the anonymous admin, they will simply receive it and keep 90% of it. The rest of the funds are distributed to those who joined before you in a bid to fool them so they may deposit more money or stay until the system collapses.

Ultimately, the setup will collapse because new deposits are not coming. The owner of Biteroi will simply stop hosting the website and instead close down shop and run away with the rest of the funds.

This is the reason they are anonymous and unregistered with the financial regulators of the respective countries where they operate from.

A fake company

It does not matter whether Biteroi is incorporated or not. If regulators say that it is illegal to operate a fund manager’s business without a license from the regulator, then it remains that the company’s operations are illegal.

We have searched a company by the name Biteroi ltd and found nothing. It appears that this company used to exist at some point before getting dissolved. Actually, we are dealing with a company that was unable to pay its taxes and is still operating through a dubious website while in closure.

Does this mean that your funds will be safe? No, it means your funds are ending up in the hands of a scammer.

Be careful with an anonymous website owner

Most owners of HYIP scams will privately register a domain because it’s not in their best interest to get exposed. Thieves or people who love to operate in the dark don’t love exposure.

You should always be careful with any HYIP that is not revealing the owner upfront. We now know that the company was dissolved. The reason this website is still operating is because the owner is a scammer. They’d like to keep convincing gullible internet users to send them funds. But they do not want these internet users to start writing negative reviews using their names. So the best thing they do is to actually pay who.is some money to hide their ID.

The bottom line

It is not looking good. There are many reasons why we believe that Biteroi is not trading Crypto currencies. The site has not proved that ROIs are generated through trading because in trading, there must be records. There must be past performance or something similar. If that is not available, then it can only mean we are dealing with a scammer.

That is the number one reason as to why we don’t support this site. The other reason is simple. Biteroi is not telling the truth. They lack honesty on their site. They are not upfront with many things.

The other thing is that user reviews are negative about them. Most people express some kind of doubt concerning this website.

Our best advice for you

Biteroi is a scam, period. If you want to trade Cryptocurrencies, stick to these tools. We have tried and tested them. We recommend them based on experience. Otherwise, forget anything to do with HYIP. Stay safe and never get deceived.

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