In this review, we will prove to you that Double Bitcoin is a pyramid scheme and a scam whose intention is to collect member deposits and eventually disappear.
We are not making allegations because we have facts to prove what we are saying in this post. We checked out their FAQ page to learn about this website and their products. However, what we saw was nothing less than shocking.
You see, Double Bitcoin has a minimum investment requirement of 0.001 BTC. If you happen to send an amount that is less than 0.001BTC, the website states very clearly that this money will be considered as donation.
Now, instead of rejecting or returning this money to the owner because it is not in their will to make a denotation, these scammers simply take the money and pretend that it was a donation.
But on the other hand, Double Bitcoin website claims that their business is legitimate, transparent and honest in all dealings. How exactly is a website claiming to double Bitcoin in a few hours legitimate?
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So while the minimum investment is 0.001BTC, the maximum you can deposit is infinite. This minimum is clearly meant to attract all kinds of investors because this is quite affordable. But the trick is always obvious. You see, Double Bitcoin wants to win your trust first of all.
How are they going to achieve this mission? Well, first, they will surely make profits for you even if it doesn’t double up in the said number of hours. They know the greedy nature of human beings. If you actually deposit Bitcoin and it is doubled in the said number of hours, you will be motivated to place a bigger deposit eventually.
It is at this point that Double Bitcoin website will disappear with your money. If not, they will continue to exist but fail to process your withdrawal requests. If you continue harassing them for your money, they will simply do the unexpected — Ban your account. Then you will realize that the so-called minimum investment was just a bait to get gullible people testing this program. It is never what it seems to be, take note.
Double Bitcoin is just a website and not a company. On top of that, details about the owner(s) of this website remains out of the public domain. What we mean here is that we do not know who owns this website. We know nothing about their employees either.
A support email and contact form has been provided on their site. No phone contact was provided, so it is impossible to get to speak with them on voice call.
We are a little bit skeptic when it comes to websites that ask for money yet are hesitant to provide their phone contacts.
In the case of Double Bitcoin, we can confidently say that they are anonymous, and that kills confidence. You cannot even think of sending money to an anonymous person on the internet. You will be scammed.
This is the most important question to ask yourself. If they are scammers, they will not give a concrete answer that can convince everyone. On the other hand, if they are legitimate, they will give an answer than makes sense logically.
Double Bitcoin explains that they an investment company that does not require contracts or pledge with property. There are no lenders or debtors. Instead, one participant asks for help and another one steps in.
What kind of help are people asking for here? Well, all people who join this system are in need of monetary help. The company actually admits that all revenue is generated by new members. In other words, Double Bitcoin is not running any business to make money for their members. There is no Bitcoin trading or mining.
At least we like it because they are honest with what they do. Other Bitcoin scams of this nature don’t even disclose that they are a pyramid scheme. Instead, they make you believe that they are a Bitcoin trading/mining business when the truth is that they are just a pyramid scheme.
This honestly is good. The problem is that even if they are transparent with how they conduct business here, it does not exclude them from being a scam.
You see, pyramid schemes are designed to fail. It is not a sustainable business model. Double Bitcoin is relying on new members to fund those who have joined already. If no new registrant is coming in, that would mean no revenue.
Furthermore, the risk is even more apparent when you come to think of the fact that this is a website run by anonymous people. What stops them from stealing from you and going Scott free? Nothing.
Another red flag is that Double Bitcoin website is only accepting payment in Bitcoin. What is their excuse? The excuse is that when they receive payment in cryptos, they are able to cut down costs involved with transactions of this nature.
In our opinion, this is not a valid explanation for using Bitcoin only as a mode of payment. Every legitimate business which uses Bitcoin as a mode of payment will always include other methods of payments too. There is no exception.
So the reason why this website is only accepting Bitcoin is because any transaction that is done in Bitcoin can never be reversed.
Given that this website is ran by criminal entities, it is in their best interest to remain anonymous and keep committing crime. The best way to achieve their bottom line is to accept payment anonymously through cryptos.
Well, we’ve got a table on their web page which is allegedly showing various transactions that were done in Bitcoin. Now, the million dollar question is, are these transactions verifiable? What proof do we have that these transactions are real and that they were carried out by real people?
The bottom line is that this table does not answer our question. It is therefore an invalid proof of transactions.
The design of this website is meant to push visitors into making deposits as soon as they arrive on the website. In every part of the website, there is at least one input form where visitors are required to provide their Bitcoin address. We find this very suspicious given that this website has ignored the most important matters only to put emphasis on asking visitors to provide their Bitcoin address.
Also, the website claims that they are not charging any fees for using their service, yet affiliates who refer members to them are promised 50% commission. Where is this money coming from? Again, we do not know the answer to this question. But if we analyze this website carefully, we see that it is a pyramid scheme which was designed to pay the owner and not the people who join them.
Double Bitcoin is a scam, period. There is sufficient evidence that this website is designed to steal your Bitcoin as soon as you deposit it. Avoid.
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