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Bitrare Review Update 2023: Another website that’s not active and blocked members from withdrawing their account balance.
Here’s how best to trade and invest with the right crypto investment tools;
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Those who lost funds with Bitrare can now use the services of a professional recovery service provider.
We’ve bumped into one of the laziest and lamest Cryptocurrency scams around. Bitrare.top admits that they are a high yield investment program. They claim that they are a professional high yield investment plarform. That’s like calling yourself a professional sucker. There is no legitimate high yield investment program on the internet. In fact, if a site is promising quick riches, it should probably be ignored at whatever cost.
It seems Bitrare is built around the idea of referring people. What they are supposed to earn is not clear yet since the site lacks such critical information on their FAQ section.
They are also showing us dubious deposit and payout stats which we believe are meant to persuade innocent investors into joining them. The best thing is that the more they emphasize on a referral program, the more they are telling us that Bitrare is a ponzi scheme.
They are currently offering referral commission at 8%. They also claim that they are traders and miners with a vast array of mining farms spread across the world.
Unfortunately, visitor and investors are not told what they will earn other than the 8% referral commission. Therefore, this tells us that Bitrare is just a ponzi scheme and a hyip where profits depend on new deposits and are not guaranteed at all.
So now that they have openly declared that they are suckers, no one can believe them. Bitrare even makes it clear that funds will be donated to charity and that in some cases, people should not expect to reap big on this platform.
But is also very clear that no form of economic activity is taking place on this website. However, Bitrare claims that funds are managed by ”experienced fund managers” and financiers.
These ”fund managers” are anonymous and completely untraceable. The website is not willing to disclose any information about these anonymous people. Moreover, the site owner is anonymous, which goes along way into proving that Bitrare is potentially a big hoax.
Bitrare is also quite arrogant in their presentation. They have a disclaimer at the furthest end of the website which says if you are not comfortable with donating money to charity, do not bother them.
Well, that kind of language is not welcoming at all. It shows that the anonymous scammers who run Bitrare are really high-handed people who operate with impunity in the name of funding charity.
To confirm that this is nothing but a cheap scam, Bitrare has not listed any of the charity organizations which they are donating to. You cannot find this information anywhere on their website since the anonymous operators of this site are not donating any money to any charity.
What exactly are they doing with these funds? Simple, the visually unattractive website is run by someone who wants to make quick bucks by claiming that they are donating to a charity cause.
If you feel that you want to help charity, you can simply approach any charity organization to make a donation. But you certainly cannot trust submitting payments through this website hoping that they will forward the donation to the alleged charity organizations.
So clearly Bitrare is a scam. The money which you are donating is not going anywhere. It is ending up in the pocket of the operator of this scam.
On the homepage of Bitrare, the website has texts which say that the people behind this platform are ancient group of ”hyipers” which for a long time have been involved in ”squeezing out illegal business”.
However, with the advent and popularity of Cryptocurrencies, they switched business model for a good cause.
What activities are they partaking in to generate profits for their alleged investors? They mine Cryptos because they have mining farms which are widely distributed across the world. They also claim to use efficient energy resources which significantly reduce the cost of mining these altcoins.
Well, this information is very contradicting to what we have just discussed.
Initially, Bitrare claimed that they are a mining farm. Then somewhere along the way, the story changes to a charity platform that facilitates the donation of funds from well-wishers to the intended recipients.
Along the way, we are also supposed to earn referral income which is 8% per person who successfully registers. This is quite ridiculous given that Bitrare has no specific form of economic activity from which income will be generated from.
This is a fact that they have admitted throughout the scam website. The role of the investor or the person ”donating” money to charity isn’t clearly defined. Furthermore, the poor presentation suggests that Bitrare does not own any mining farms. But of course they are giving us many reasons to believe that they are just a lazy scam.
Bitrare is only accepting deposits in Cryptocurrencies. While doing so, they are claiming that sending money with Cryptocurrencies is cost-effective since investors can avoid the high cost that is associated with transacting fiat currencies online.
The other lame excuse which they are giving us is that when we send money in Cryptos, we will feel rich since we are investing in huge amounts of coins.
We don’t get it. This is lame. It is nonsensical and definitely don’t understand the reasons given above.
The best thing to do is to protect yourself from such scams by not sending money to anonymous criminal enterprises on the internet.
Just by looking at this site, we can tell that no mining is going on here. We can also tell that users will not make a single penny from this scam. It is quite clear that the shady operator of this site is making use of an illegal disclaimer to swindle funds from unsuspecting victims.
Bitrare is clearly a lame and lazy Cryptocurrency scam. It takes a desperate soul to lose money to such scams. But you can of course make a good decision by choosing these companies for your Cryptocurrency trading.
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