Menu

Bitincome Review: Awkward Scam, Beware

Bitincome Review: Awkward Scam, Beware

Share This!

Bitincome.io has proved to be a typical Cryptocurrency cloud mining scam. The site’s operation, reputation and background details make it clear that these guys are not into real Cryptocurrency mining. Their mining contracts will most likely disappoint you as there is no money to be made here.

What we have observed with Bitincome is that it is a classic altcoins investment scam where investors are promised fabulous returns which are to be paid out in an extremely short period of time.

We have discovered several inconsistencies throughout the Bitincome website. For example, they claim that BitIncome has invested in state of the art ASIC mining equipment which aid in efficient mining of the altcoins. Their mining farms are allegedly stationed across the United Kingdom.

But also notice that BitIncome is claiming that they mine Ethereum, Dash and Zcash too. The inconsistent thing here is that for you to mine Ethereum, you’d need ASIC-proof hashing. That means their alleged ASIC miners would not be suitable for this operation.

The other tell tale sign that we have seen on this site is that no actual proof of mining process has been given yet. A legitimate site will most likely give a hint through a means that will give the public insights on how the altcoins funds are accrued. If this evidence is lacking, you can rest assured that you are dealing with a classic Cryptocurrency scam.

Note: Please mine with these legitimate companies.

👉 ***Want to earn money with Bitcoin and other Cryptocurrencies without the pain and hassle of learning to trade from scratch? Imagine if you could trade and get regular results with profitable performance! Are you tired of the forex and crypto scams, false promises and games out there designed to separate you from your hard-earned funds? If any of that rings true with you, then STOP EVERYTHING. ProfitFarmers is for you! With their software working as your Crypto Co-Pilot, YOU remain as the Pilot with total control over your money, 100% of the time. ProfitFarmers is a trading tool that combines artificial intelligence with the expertise of veteran traders to deliver high-probability trade plans right into your hands. There’s no need to spend hours trying to figure out what to trade!
Thanks to their integration with Binance, the biggest cryptocurrency exchange worldwide, ProfitFarmers executes your trades from entry to exit, you just choose the trade signals you like, pick your entry price and then let your Co-pilot take over the rest of the journey. Stay informed about every step of your money-making journey through push-notifications on their mobile app. Now there’s no need to constantly worry about your ongoing trades, just let your Co-Pilot handle it for you! This could easily be the holy grail of trading tools. Forget paying a guru to trade for you and take a massive cut of what you earn. With ProfitFarmers there are absolutely NO COMMISSIONS OR FEES ON YOUR TRADES. 100% of what you earn is 100% yours to keep. Period. Last quarter, ProfitFarmers produced 1,357 trade plans, and more than 60% of them offered peak gains of over +8%. By joining ProfitFarmers, you’ll never be short on money-making opportunities. Still wondering if this is too good to be true? ProfitFarmers has a 100% Money-Back Guarantee if they don’t deliver profitable opportunities onto their platform. If you are ready to upgrade your trading game and instantly expose yourself to profitable trade opportunities, now is the time. Head to ProfitFarmers now to start trading the easier way, with your very own Crypto Co-Pilot.

PS: ProfitFarmers is a Trading Tool. Your money ALWAYS remains in your Binance wallet, never on ProfitFarmers. 100% Verified and Recommended by Valforex.com.

BitIncome Review: Why exactly is this site scam?

This site hints that investors can earn passive income for the rest of their lives. That is the message which they are dangling to investors who will later turn into victims if they agreed to sign up with real money.

bitincome review

The ludicrous sales pitch is definitely aimed at the ignorant investor who is not well versed with the Cryptocurrency mining industry.

The investment plans have daily return on investments in the range of 7%-13%. Unfortunately, BitIncome also used to run a special plan in October 2017 in which they claimed that investors could earn 30% daily returns for that specific plan.

The minimum amount of Bitcoin that you’re supposed to invest is BTC 0.005. This is supposed to generate 0.001 BTC in pure profits. This infers that after 5 days of earning with BitInvest website, one will get his capital back. After this, pure profits will be accrued from here hence forth.

The story continues to insinuate that all funds deposited by members will be used to modernize mining equipment, thus making them more efficient for the job in the future.

Now, the truth that we want you to know is that just a small percentage of these funds are used for upgrading equipment. The bigger portion of the funds is pocketed by the scammers.

More evidence that BitIncome is a sure scam

There are many red flags on this site. There is also a big question mark when it comes to the operations of this site.

The first red flag has to be in the dangled daily returns. Since BitIncome is pitching 7% daily returns, that would mean 70% in just one week. Clearly this does not make sense at all.

bitincome scam daily plans

Now, in the worst case scenario, members could earn 210% of interest per month if they are already making 7% daily returns.

At this point in time, this should sound an alarm bell. There is no legitimate internet business where people make as much as 210% monthly returns. Never will you find such an opportunity anywhere on the internet.

In fact, if this was true (which can’t be the case), it would definitely act as the best source of income ever in the world. Everybody would be rushing to sign up because they want free money. Who doesn’t anyway?

On the website of BitIncome, you will see a certificate of registration. This is the hallmark of all Cryptocurrency cloud mining scams.

This certificate of incorporation reveals that BitIncome was registered in August 2017. What is funny about this is that all scams never make it past that date. Most, if not all of them, are a couple of months old. They can barely last a year so to speak.

Now, the third part of it is that BitIncome has added a ponzi scheme element into the project. Members are supposed to earn through a referral program. This is yet another classic sign of a Crypto scam.

The referral ”money making opportunity” is allegedly rewarding guys with 5% of the new partner’s deposit. But the truth is that this is a ponzi scheme. By implementing a referral program in place, they are hoping to attract more users, hence more funds which is the lifeline of a ponzi scheme which is on the brinks of collapsing.

The worst joke of the year has to be on the promise that if you invest 10 BTC with this scam, you will qualify to become a representative where you will earn 8% in referral commissions instead of the current 5%.

If you ring the phone number which has been provided on this site, you will discover that it is fake. That phone number isn’t operational most of the time.

Also, their who.is details are set to private, meaning that the operator of this site intentionally took advantage of who.is premium package which allows scammers and crooks to hide their identities. This did not catch us by surprise. All scams literally do this in a bid to make it difficult for people to recognize their owners.

Complaints about BitIncome

Furthermore, we are not surprised to discover that these guys have managed to build very negative reputation around their service in a short time.

Community members are Bitcointalk have raised all sorts of questions and even spotted the red flags in this scam. All of them agree in unison that BitIncome is a pure scam.

Some people have also claimed that this site pays its new members in the first few days before the payment can stop completely.

In fact, if you scout for these complaints in many forum threads out there, you will come across many individuals claiming that the site does pay but for only a few days.

Therefore, you should probably keep in mind that the mere fact that a site pays does not mean that it won’t scam you.

This is a ploy to keep people re-investing bigger amounts, which will end up in waste because the site operator has mastered the art of convincing victims to deposit more money.

Our best advice for you

Now, since BitIncome is ranked at number 9000 globally, we can immediately see how popular a scam it is. Most of the traffic to this site comes from Brazil, although other users come from the US, Russia, Indonesia and India.

Based on that information, we can imagine how many people get scammed by this site on a daily basis.

You should always remember that no matter what, BitIncome does not offer any proof of mining activities or technology, yet they are peddling around promises of free money for a lifetime. On the other hand, their promised returns are too ridiculous, plus the identities of those who run this project have been locked in a secret vault.

The bottom like is that if you have read this review and are still not convinced of what’s coming ahead, you probably deserve to lose some money.

If You'd Like to Get Notified When This Site is Updated, Subscribe Below...

Leave a Reply

Your email address will not be published. Required fields are marked *

IQ Mining

Binary Option Scams, Warnings, Reviews & Updates...

Binbotpro

Popular Articles

Follow Us

Valforex.com will not be liable for any damages incurred due to the usage of any information displayed on this website. The information and trading guides found on the website constitute the authors’ opinion only. Trading Forex, Binary options and Cryptocurrencies involve high-risk and are not suitable for all investors. Online trading in general, may not be legal in your jurisdiction. It’s visitors’ responsibility to make sure these entities are legal in their jurisdiction before engaging in trading activity. All trademarks, images and logos that appear on this site are copyrights of their respective owners and have been used under the Act of Fair Use.

Show Buttons
Hide Buttons