The assertion that Bittoch is a corrupt ponzi scheme that will soon collapse is acceptable. If you fear to invest with this platform because everything in it looks shady to you, your fears are valid. That’s a guarantee.
Bittoch is just a new platform for trading, lending, mining and staking Cryptocurrencies for profit. They are even selling tokens now (current round is supposed to end in 28th of February 2018).
ICOs are a favorite way for scammers to raise funds before disappearing along the way. It is not a secret that what Bittoch is promising as returns is ridiculous, and absolutely impossible to attain.
Bittoch comes across as a ponzi scheme because it implements every action of a run of the mill ponzi scheme, including having a 7 levels deep referral program. Why would Bittoch beg users to bring other users into the system if they truly have the ability to make more money for themselves?
That question has probably been asked by many people. Thankfully, this review will answer all of it. Here’s what you should know.
Throughout the website, you will not find any reference to the owner or founder of this website. It is already making us nervous because this trend is often followed by scams and ponzi schemes.
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Why would a respectable entity refuse to reveal the people behind its operation, yet these faceless individuals are asking for your hard earned money?
It has always been said that if a website has an anonymous owner who can’t be tracked down by the average victim of a scam, it is better not to send your money to that site. That’s the first precaution that you should adhere to.
Now, in the case of Bittoch, we have blacklisted it because it has already failed the first ponzi scheme test.
The hallmark of all features is the supposed lending program which promises up to 60% per month return on investments.
When you allegedly lend the so called BTH to their trading bot, it will make you up to 60% monthly ROI depending on the plan that you choose.
Already people are doubting those figures. They are unrealistic. If these people owned such a profitable robot, they would keep it to themselves instead of soliciting funds from random visitors on the internet. We highly doubt if this is true.
We might want to call Bittoch a Crypto lending scam whose outlook is not so good. You see, this is the same thing that Bitconnect did before it went under. It failed, lost money and got massive lawsuits to deal with. The reason why they were sued is because their promotion materials misled investors and many (if not all people) lost money.
The basic principle that these guys are employing is very simple. You have to buy the so-called BTH coin in their token sale so that you can participate in the program. Now, think twice before you make this move because for you to obtain this coin, you will have to spend legit Cryptocurrencies like Bitcoin or Ethereum for that purchase.
After that, you are supposed to be paid for lending your Bittoch coins. Probably these payouts will continue for a short duration before they can stop completely.
What you will probably be paid will come from new deposits since Bittoch operates like a ponzi scheme and does not have a genuine business model where income can be generated from.
Like many ponzi schemes on the internet right now, Bittoch claims that it will also trade and mine coins on your behalf. As usual, returns are pretty high, which is making us wonder whether this is legit.
You see, if trading is involved using bots, these guys will have no problem showing us past performance of the robot. After all, they have operated for more than a month now. They should be able to show us whether or not they have made money through trading.
And of cause the claim that Bittoch Cryptocurrencies for profits is a lie. Again, we’d like to work with some evidence here. No pictures of their mining facilities have been posted online. In fact, the claim that they mine Cryptocurrencies is mentioned in the passing, which may suggest that these guys are just lying about it. There are no details about their mining hardware at all. There is no mention of the fees involved or anything that may be related to mining of altcoins.
One may wonder whether legit mining activities are taking place here. It is not possible that Bittoch is mining altcoins. Just forget it.
And of course they are claiming that they will stake your coins for profit if you allow them to. This is basically the act of keeping your coins in their wallet so that they can earn interest after a short duration of time.
Where exactly does this interest come from if the value of this coin is not rising? Where exactly does this money come from if Bittoch is not involved in any kind of valid economic activity?
One may wonder. But the answer is very simple. Bittoch is operating a ponzi scheme model. As we have said, profits are paid out of new deposits.Each time someone makes a deposit, the site admin will make a small payment out of that money. He gets to keep the rest. This is done in order to keep the business afloat and win the trust of a few guys.
It is clear that there will be such a day when Bittoch will collapse as a result of the owner initiating that failure with the purpose of running away with investors’ money. Some people have always suspected that this failure comes a result of the ponzi scheme not being able to pay everyone due to limited deposits coming in. But that is not the logic at all. The aim of running a ponzi scheme is to make profits for the owner and not to close down shop some day empty handed.
The nature of this lending scam will require it to go under after some time. It might not last that long. Unfortunately when it happens, many people who hold the Bittoch coin will be left desperate because Bittoch coin has no real value, yet people are being made to pay for it using real Cryptocurrencies.
You also need to understand that this is a totally anonymous service. The owner has never introduced himself to any of his investors. He is not about to do so any time soon.
Bittoch prefers to remain anonymous. They also prefer to commit fraud on the internet since this business is completely illegal. It is not licensed to carry out this kind of operation.
You would basically think long and hard when faced with the decision of investing in an entity whose owner is anonymous and returns are too good to be true. We wouldn’t advice anyone to go this direction because it costs a lot of money in the end.
Even if you invested in the basic Bittoch plan, you would incur a loss that you had not planned for. Please stick to our usual recommendations here.
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