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Bitqyck Review: Why you should not invest in Bitqyck.me?

Bitqyck Review: Why you should not invest in Bitqyck.me?

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Bitqyck is a crypto company that launched in 2017 as a multi-purpose platform. It has gone through several changes since then. According to Bitqyck.me, Coinbase manages this platform. However, there is no truth to these claims. In fact, there are numerous aspects of the company that is highly suspicious and fraudulent. Keep reading this review to get to know about the authenticity of this crypto platform.

What is Bitqyck?

Bitqyck is a Bitcoin-based crypto platform. As its name suggests, it is mainly targeting Bitcoins. However, its website, Bitqyck.me, mentions the name of other major crypto platforms as well. The entire company has a very confusing and contradicting marketing plan that makes it evident that the owners and managers of the company have not paid much attention to it.

Founder of Bitqyck

Bitqyck.me states that Sam Mendez is the co-founder of the company. It is running from the state of Texas in the USA. However, the site does not mention the name of the founder or any other member of the company. It is important to note that Mendez is a known scammer.

Mendez was first involved in a Ponzi scheme called My Shopping Genie. It collapsed within a few months due to a lack of recruitment. Similarly, in 2014, Mendez was running 15 Winks, a dating application. The app is not available on Google Play Store anymore, indicating that it has shut down as well.

In January 2016, Mendez launched a crypto-based e-commerce store called Calorchi. It also collapsed by June or July of 2016. A common point between all of these failed ventures is that their business models revolved around affiliates. The companies were scam because they promised massive profits to members. In reality, the members had to suffer financial losses because the companies did not have much recruitment fees to pay the old members.

The reason for discussing the past work history of Sam Menez is that Bitqyck also has a similar business model like the rest of the failed companies.

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Bitqyck.me

Association With Coinbase

Coinbase is a well-known genuine crypto company. It has millions of customers all over the world. Bitqyck.me is trying to take advantage of Coinbase’s popularity by claiming to be its partner. However, there is no proof of such claims. In fact, Coinbase has partnerships with very limited companies, and the names of all of these platforms are public information.

According to Bitqyck.me, you can integrate your Coinbase account with this company for easy and quick transferring of the Bitcoins. Furthermore, it claims to be capable of using bitcoins for online shopping and buying the coins through MasterCard.

How to Join Bitqyck?

Bitqyck does not offer any retail products or services. If you want to earn income from this company, you must buy its affiliate membership. The members have two options to enter the income structure:

  1. Invest at least $199 in the company to start getting profits immediately.
  2. Recruit a member and make them invest $199 in the company.

The company is asking for a very large amount of money, considering the fact that it is not a well-known crypto company. Moreover, all of the details given on the website are in USD, which is quite surprising because it is claiming to be a leading crypto company and should have mentioned the charges in terms of crypto coins at some of the pages.

There are numerous suspicious aspects of Bitqyck that should make it clear to you that it is not a trustworthy crypto platform. Even if you manage to get some kind of profits from it, they will not be sufficient to make you financially independent or even equivalent to the initial sign-up fee. There is a very high chance that you will end up losing your hard-earned money in this company.

Therefore, you should avoid investing in this platform. Instad, learn about the crypto mining companies and invest in it to earn maximum profits. These companies offer reliable, efficient, and user-friendly services that faciliate you in crypto mining. 

Legal Cases

The fraudulent nature of Bitqyck has not gone unnoticed. Securities and Exchange Commission initiated legal action against Bitqyck.com in 2019. The legal complaint consisted of numerous allegations as SEC was sure of the fact that the crypto company was operating illegally. Some of the most noticeable aspects of this case were:

  1. The case was against Bruce Bise and Sam Mendez, indicating that Bise is the man behind this entire company.
  2. SEC alleged that Bitqyck was scamming thousands of investors by offering digital assets like Bitqy and BitqyM. However, these digital coins were not registered.
  3. Overall, the company was catering to more than 13,000 investors and had raised about $13 million by July 2019. Investors received some of the money in initial phases but later started losing most of their money.
  4. SEC’s complaint was about Bise and Mendez misrepresenting the entire business model and presenting it as some kind of crypto platform. In fact, it is operating as a pyramid scheme,
  5. The legal case also revealed the fact that most of the company’s deals and packages like QyckDeals are a complete fraud. The aim of mentioning such details is to attract users and make them invest in the platform.
  6. SEC made several other allegations against Bitqyck like continually lying to the investors, scamming them by not giving the promised profits, and offering Ponzi schemes.

Case Results

By August 2019, the SEC declared that it had settled charges with Bitqyck Inc. and its owners. Much details of the agreement were not disclosed except for the fact that the company will be closing down some of its schemes. Soon after the settlement, the company changed its domain to Bitqyck.me.

Bitqyck

The new website is unimpressive, to say the least. It does not give any essential information about the company itself. Instead, it keeps focusing on Coinbase and association with it. The same pattern can be observed that this platform is still lying about its features, potential income opportunities, and partnerships. The purpose of all of these lies is to get investment from as many users as it can.

Conclusion

It would not be wrong to say that Bitqyck is the relaunch of previously failed companies of Sam Mendez. Calorchi was claiming to be a crypto-based e-commerce store. However, it was also relying on affiliates due to which it collapsed within a few months of its launch. Similarly, Bitqyck.me claims to be generating revenue from crypto trading and mining. Yet, there is no proof of such claims.

The past legal troubles of the company also show that it is not a trustable company. SEC has already conducted a thorough investigation against it and made it very clear that the company owners were making a massive amount of money and not giving much in return.

All of the analysis, research, and information available about Bitqyck points to the fact that it is a fraudulent company. There is no point in investing in a company that lies about its services and compensation structure. Despite several revamps,  it has not managed to establish itself as a reliable crypto platform. The only aim of this company is to get investment from you and other members before it eventually collapses.

Hence, you should not invest in Bitqyck.me. Instead, you should consider investing in crypto mining companies that provide reliable services. They have modern and trustable crypto infrastructure that is necessary to mine crypto coins and earn good profits in the crypto industry. 

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