Important Update: When this review was posted, BitEden.biz was already down. Hopefully, it won’t come back. If anyone has been scammed by this website or have any information about a new domain they are using, please let us know by commenting below.
Learn the disturbing facts about BitEden by reading our comprehensive and factual review. As many of you have learned by now, looks can be deceiving and Bitcoins Eden is just another shining example of how a seemingly legitimate investment opportunity is actually sour and rotten to the core. Extract the truth from this honest review and why you should avoid the BitEden mining scam!
What is BitEden?
BitEden Investment claims to be a developer of hardware that offers safe investments in Bitcoin mining. Appearing as a Bitcoin mining, investment and online marketing opportunity, BitEden pulls off a convincing act as cryptocurrency investment that appears to be genuine and trustworthy. This can greatly be contributed to the eye-catching site design coupled with endless inconclusive reviews that rank highly on search engines that neither condone or endorse the usage of this site but include affiliate links all the same.
According to the Support page found on biteden.biz, the physical location of this firm can be found at 3 Philip Law St, Canberra ACT 2648, Australia. The telephone associated with the site is +61251085502 and the support email address is [email protected] The company allegedly behind BitEden goes by BitEden Investment but whenever we searched “BitEden” or “BitEden Investment” in the Australian Business Register, we found no results to confirm that this company actually exists.
How does BitEden Work?
BitEden is a Bitcoin mining site that allows users to deposit their bitcoins to gain access to their ASIC equipment and start mining with a daily ROI promise. Others who wish to pursue a more lucrative endeavor create an account through biteden.biz with the intentions of mining Bitcoins along with sending additional traffic to receive a 7% referral commission of each successful deposit. There are 4 separate account options you can pursue when investing with BitEden and they are as followed:
- 10% Daily ROI – Cost: 0.01 BTC to 10 BTC
- 12% Daily ROI – Cost: 0.01 BTC to 25 BTC
- 15% Daily ROI – Cost: 0.01 BTC to 50 BTC
- 20% Daily ROI – Cost: 0.01 BTC to 100 BTC
When confronting the questionable business model of BitEden, we are forced to look at the facts. Among the most important of these facts would be how most legitimate cloud mining sites only yield an average of 20% on an annual basis. Not between 365% to 730% on an annual percentage basis like biteden.biz is trying to convince us of. The annual percentage yield asserted on the site far exceeds the yield achieved by other proven and legitimate Bitcoin mining sites. This enables us to deduce that the ideal behind BitEden fulfills the embodiment of an opportunity that is too good to be true.
Furthermore, the longevity of this scam is hard to determine due to the fact that the business model behind BitEden is one that resembles that of a Ponzi scheme. Let’s set the record straight here, the ROIs promised on the site are preposterous at best and the only reason why this site is still in operation would be because marketers keep sending traffic to their site believing that they are earning for each successful referral.
BitEden Scam Test
Does biteden.biz claim unbelievably high returns?
It doesn’t take a rocket scientist to confirm that the returns offered through BitEden are of divine creation. No legitimate Bitcoin mining site has yielded an annual percentage return remotely close to the ones claimed by biteden.biz.
Is there information regarding the owners of the site?
No findings regarding the identities or whereabouts of the creators of this site can be found without the cooperation of legal authorities. Unfortunately, the thieves behind this Ponzi scheme employed a privacy package when registering the domain which means that finding information regarding the company or owners behind this scam is beyond our grasp. Although they claim their business goes by BitEden Investments, a variation of different keywords in the Australian Business Register yielded zero credible results.
How is traffic being directed to the site?
According to SimilarWeb.com, most of the traffic originates from adbtc.top. This site is a Bitcoin paid to click advertising service that was launched in 2017. Adbtc.top pays its members for browsing various ads. Members of adbtc.top also have the ability to earn additional cryptocurrency income by successfully referring people to various launches. Our word of advice would be to avoid not only biteden.biz but also adbtc.top since they are affiliated with many Bitcoin scams.
How old is the website?
BitEden is a relatively new Ponzi scheme that was created on August 18th, 2017, meaning that during the time of writing this review the site is just over a month in age and already within their short lifespan there have been countless reports of refusal to process withdrawals.
How does the site rank on SimilarWeb?
Currently, the site has a global rank of 194,174 with a rank of 42,368 in Russia. Almost 50% of the traffic originates from visitors residing within Russia and Ukraine while other considerable traffic sources include visitors from India, Brazil and Latvia.
What is the general consensus regarding the site?
Due to the generous commission of 7% for each successful referral, most of the reviews that you will find can be categorized as inconclusive. Although most of these misleading review sites aren’t point blank telling you to sign up with the site, they are using affiliate links to direct you to the site which makes them just as guilty as the creators behind this Ponzi scheme.
It also appears that some of the sites that originally filed as “inconclusive” have now put warnings up that biteden.biz is not paying for their referrals. Which, in the end, serves them right for misleading innocent investors out of their hard-earned bitcoins to begin with. If you value your time and your Bitcoin, make sure to avoid this deceptive cloud mining site!
BitEden Review Conclusion
BitEden failed our scam test miserably and it goes without question that this Bitcoin mining operation is a Ponzi scheme! The only reason why this Bitcoin mining scam is still in operation would be because the owners behind this site have been able to remain anonymous and that marketers are still promoting this Bitcoin scam, thinking that they will receive a generous payout for misleading investors out of their money. Make sure to avoid these crooks and any site that is not flat out saying that biteden.biz is a scam!
Verdict: BitEden is a HYIP scam!
Blacklisted site: biteden.biz
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