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This review expresses concern over Crypto Bit Trade, a website whose domain can be found here Cryptobittrade.com. With a cash out threshold of 0.03 BTC and the corny nature of the site in question, an investor would be going to far trusting these guys with their hard-earned Bitcoins.
The site claims that they have employed experts who provide timely technical analysis, fundamental analysis and other services related to Cryptocurrency investing.
Crypto Bit Trade suggests that they have been assisting both retail and institutional investors use Cryptocurrency as an asset class and also as part of their investment objective.
In addition to this, they refer to Crypto Bit Trade as a trading platform with lowest fees, fast execution, decent infrastructure, and exceptional customer support.
Above all, they are offering a daily return of 1% and a binary bonus in the range of 5-30%. Their main job is to trade and mine Cryptos. Forex trading is also part of their game.
The reason why you should allegedly work with them is because they have the best professionals in the industry who are currently working with them to see that the business can remain profitable for both the operators of Crypto Bit Trade website and their investors.
The question is, will this site make you any money in the long run?
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Is it worth risking a Bitcoin payment to this site in the name of funding your account?
That’s what this Crypto Bit Trade review will be answering. Stay put.
Let’s start this review by asserting that the site is shady and highly dangerous to invest with.
The business model which they have implemented is copied from other scam Cryptocurrency websites hiding behind altcoins in the name of genuine investment platforms.
Most of these scams are actually pyramid scheme, and Crypto Bit Trade is not an exception.
Which reasons are they giving as to why you should invest with them?
The number one reason that caught our attention is that this investment platform was planning to double your capital automatically so that you can earn 1% daily return.
You do not need to do anything in order to make profits from your capital. The site has allegedly automated the process, right from trading to withdrawing your proceeds.
The site also claims that Crypto Bit Trade is 100% trusted since they trade and mine altcoins. This assertion has not been verified. There is no proof suggesting that Crypto Bit Trade has professionals who trade and mine altcoins on behalf of their users.
While they claim that daily withdrawals are automatically issued from this site, the current minimum of 0.03 BTC is extremely high. No investor will ever reach this amount soon except if they gamble a large chunk of their capital by giving it out to Crypto Bit Trade website.
The binary bonus is allegedly going to make you the most profit as this percentage is up to 30%. It seems that this model is even more profitable than the one they are using to ”trade and mine” cryptos.
It’s in your best interest to find out whether this site really has people who are experienced in the field of Cryptocurrency investments.
To establish the truth, you need to work with proof and also a little bit of common sense.
Unfortunately, this site has not introduced a single analysts or professional. These people are anonymous and mysterious. There are no names or eve physical addresses to use as a point of reference. Clearly this is a tell tale sign.
A quick search on who.is would confirm that the registrant of this domain did not wish to disclose their name – another big red flag which is working against them in a tremendous way.
If we are to take the two factors above as clue, we would say that this investment platform is owned by an anonymous person who doesn’t wish to disclose who they are or what they have been doing in the line of Cryptocurrency investments.
It’s therefore hard to trust anything that they will tell you in this site through writing.
In short, the operators of this platform prefer to keep a low profile while asking investors to send Bitcoins. It’s a huge risk you’re taking because no stranger on the internet will ever make more Bitcoins for you if you send the little amount of BTC which you had in your wallet. It is not possible.
There is no reason why Crypto Bit Trade would justify their activities if they haven’t taken care of the smallest details which make them fit the description of a scam Cryptocurrency investment.
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Now that we cannot establish the owner or even their physical address, we can rely on other clues based on their alleged operation.
First of all, no one can verify that this site truly makes money for its so-called investors through trading and mining of altcoins. That’s not possible with this site anyway.
This leaves us with one conclusion. If they are not making money through the aforementioned methods, then it means that they are making it through collecting Bitcoins and doing whatever they like using victims’ funds.
There is currently no evidence that Crypto Bit Trade has ever issued any payout. And even if they have done so in the past, this does not mean that they are genuine because all pyramid schemes start by issuing small payouts from deposits received before ultimately stopping to pay their members. It’s that simple.
Yet we know very well that pyramid schemes ultimately fail. This one is not going anywhere either as it is using the same business model to attain its goals. The agenda is already obvious. You cannot mistake this for another legitimate Cryptocurrency mining company. The only legitimate Cryptocurrency TRADE companies on the internet can be found on this list.
Now that their location is hidden, we can only suspect that this project is a full blown scam.
An illegal business is one where investors are asked for money when the purpose for those fund deposits have not been clearly defined.
In the case of Crypto Bit Trade website, there is no evidence that the purpose of those funds which they are collecting from the public is to invest them on trading and mining of altcoins.
The other issue that is working against them is that there is no trading or income results to help prove that these guys are not running a pyramid scheme.
Last but not least, this website is operating a business that must be licensed first before the general public can be allowed to participate.
It’s very disturbing to see that this site does not even have its licensing details published anywhere. This suggests that they are operating an illegal business. No doubts about it.
Crypto Bit Trade is a a textbook definition of a pyramid scheme hiding behind altcoins. It does not matter whatever else they say. If it’s a scam, there will be more than enough undeniable red flags. Apparently, the site has given us enough clues about their agenda. Their integrity is in tatters as they cannot be trusted at all. Stick to these TRADING companies instead.
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