BitsTrades Review: Another Crypto Scam!
OFFICIAL SCAM SITE: bitstrades.com
We have been doing a whole lot of cryptocurrency ICO reviews as of late, with us covering many of the awesome up and coming crypto coins. However, there are way more cryptocurrency scams out there than there are legit programs. This BitsTrades ICO is one of those scams and we are here to prove it to you. This BitsTrades scam review is going to cover all of the factors and suspicious activities which shows this terrible crypto investment program to be a scam.
There is not a single honest bone in the whole body of this massive scam. There are many dangerous elements to this BitsTrades investment scam that serve to steal money from you. Rest assured folks, if you invest any amount of money with this BitsTrades ICO, you will lose it all. It is designed to steal your money, not to help you make more of it. You need to continue reading this BitsTrades scam review so you can be aware of the very real danger posed to you by this new cryptocurrency scam.
BitsTrades ICO: The Pyramid Scheme
One way in which we can tell that the BitsTrades system is a scam is by looking at the affiliate referral program it offers. Now, it is not uncommon for a new crypto ICO to use some kind of affiliate program to get people to draw in more traffic. However, it all has to do with the numbers. The BitsTrades system has several different referral bonus levels, way too many to be real. Moreover, the amount of money in terms of commission promised to people is simply way too high to be realistic. This is what we call a pyramid scheme.
The schemers behind the BitsTrades app simply get you to get your friends to sign up, who then get their friends to sign up, and so on and so forth, thus forming a pyramid. This is the perfect example of what a pyramid scheme is. In other words, this ICO is not to be trusted by any means. It is a total pyramid scheme meant to rip you off, get your to do the heavy lifting, and screw everyone around you out of money too.
BitsTrades System: The Ponzi Scheme
At the same time as being a pyramid scheme, the BitsTrades ICO is also a Ponzi scheme. Many people have labeled the BitsTrades system as a high yield investment program, where you can earn a whole lot of money with minimal investment amounts. In case you don’t already known, high yield investment programs are usually always Ponzi schemes. These crooks promise absolutely ridiculous returns on barely any investment.
Sure, this sounds great to anybody that is not really paying attention. However, if you know what a scam looks like, you know that the BitsTrades app is a Ponzi scheme. You simply can’t get the kind of money back on such small investments as promised by these BitsTrades scammers. You will never see a single penny in profits. These criminals simply take your investment and use it for themselves without every paying you back a single penny in interest or anything else. This particular ICO is a Ponzi scheme and its purpose is to get you to invest as much money as you can, just so these crooks on the other end can steal it all from you.
BitsTrades App: Unrealistic Returns
We already mentioned this once, but we feel the need to say it again. The BitsTrades scam promises massive returns that are totally unrealistic. Whether they promise huge returns through staking, lending, trading, affiliate bonuses, or other commissions, rest assured that it is all just one big lie. All of the returns promised by these total criminals are not real and they simply do not exist at all.
BitsTrades Scam: Old News
Yet another telltale sign that the BitsTrades system is a scam is that it is a rehash of an old scam. The BitConnect trading scam was released a few weeks ago and it actually managed to screw a whole lot of people out of a whole lot of money. However, it did get shut down eventually, but that doesn’t means that the scammers running it just gave up, packed their bags, and went home.
Instead, they simply repackaged their scam, gave it a slightly different look, and started it up again. To be clear, the BitsTrades system is nothing more than a newer and more dangerous version of the BitConnect app. Both of these crypto ICOs and trading systems were created by the same group of criminals. They are both designed to steal your money and nothing more.
BitsTrades Scam App: Anonymous
The fact of the matter is that we really have no idea who runs the BitsTrades scam. This is a completely anonymous ICO and lending system. This is a very bad sign to say the least. Simply put, there is no good reason for these guys to remain anonymous except if they are doing something highly illegal, which they clearly are. This crypto system is designed specifically to steal from you, so the crooks running it all are definitely not going to tell you who they are.
Whenever you come across a totally faceless ICO like this particular scam, you can rest assured that it is a rip off. There is also the fact that it clearly is not licensed to do what it claims to do. Taking investments from people requires licensing and regulation, both things which the BitsTrades system clearly does not have. You can be sure of the fact that these criminals are taking investments illegally, they are stealing money, and they will never give people any kind of return on their investments.
BitsTrades Review – Conclusion
There is really nothing left to say about this horribly ludicrous BitsTrades ICO. It is nothing more than a means to get dirty fingers on your hard earned money. These clowns don’t want to help you make money. They want to steal it from you!
If you would like to find out more about cryptocurrencies and cryptocurrency trading, go to our Cryptocurrency Explained section!
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