BitElitum (bitelitum.com) claims to be a registered company which offers investment advice and financial services to the public. They are said to be involved in trading cryptocurrencies along with investing in blockchain advancements. This firm features 4 investment programs where they offer returns of up to 250% which which is just insane and as you can tell obviously fake.
When we did a through check on the legal documents they submitted and the type of deceptive tactics they follow, we were convinced that this firm is just an another fraud. Read our complete review to know why you should never give these ruthless scammers a chance to run away with your funds.
Company and Contact details
BitElitum is an ICO, this firm basically generates revenue from cryptocurrency trading and by investing in other startups. They raise funds required for carrying out the activities from the general public and in return offer them a fixed returns on their capital after the contract time expires.
When we checked their paperwork, we were not able to find any legal certificate an investment firm should hold. We have confirmed through FCA this firm has never been licensed and when caught the creators behind this company will be put behind bars.
These faceless scammers have featured a certificate of incorporation on their website, do not let this shady trick deceive you. They have no right to raise funds for any purpose and are just aligning their pockets with clients money. Here are the contact details provided by them.
Address – 66, Great Sufflok Street, London, United Kingdom SE1 0BL
Email – [email protected]
Just like many scams, this firm also have done their best in terms of appearing legitimate. There are details of some employees of this firm revealed in the About us section, they have done this to trick the investors into thinking that they embrace transparency while the evidence proves otherwise.
We were not able to find any relevant information on the internet about George Aguilar, which proves that every information they have provided are nothing more then fairy tales.
How does BitElitum work?
This firm claims to be involved with a array of activities related to cryptocurrencies. They have not mentioned anything about their strategies or previous accomplishments. We do not have the faintest idea about what factors or indicators are considered by this firm before opening a position.
Since they have failed to provide verifiable trading history, how can we know for sure that they are profitable. On top of all these issues they haven’t mentioned anything about risk profiling. Never trust this firm with your money because you are guaranteed to regret it later.
The most attractive aspect of crypotocurrency is their volatility which provides the traders with ample amount of opportunities. There is a lot of hype around Bitcoins and other altcoins which are falsely portrayed by scams and are presented to the inexperienced investors.
Take a look at the ridiculous and fabricated returns each plan offers
Returns – 11% Daily
Period – 11 Days
Min Deposit – $ 50
Returns – 160% Daily
Period – 8 Days
Min Deposit – $ 500
Returns – 180% Daily
Period – 6 Days
Min Deposit – $ 1,000
Returns – 250% Daily
Period – 4 Days
Min Deposit – $ 2,000
The relationship between the ponzi scheme and the number of participants is axiomatic. To earn as much as they can before they get hunted down by law, this firm offers an affiliate program. The individuals are paid fat commissions for every investor they bring on board.
To make their work easier and effective, this firm assists them by providing a few marketing tools. Like most of the fake investments, this firm also does not require the affiliates to be an active investor, if anyone is promoting this platform, know that they are heavily rewarded for doing so.
This website rakes 4,45,130 in Russia and has a global rank of 3,230,674 according to alexa.com. This firm is mainly targeting users from Russia, Bangladesh and Ukraine.
A search on whois.com reveals that this domain was registered on 09/06/2018 and expires after one year. There are no registered details available.
Deposit and Withdrawals
The minimum amount required to get started with this service is $ 30, the minimum payout is $0.01 . The payment methods supported by this platform are VISA, MASTERCARD, Litecoin, Bitcoin, Ethereum, Bitcoin cash, Perfect Money and Payeer. The withdrawals are not associated with any sort of fees and they are set to processed within 24 hours.
Is BitElitum a scam?
This platform is 100% confirmed scam. There isn’t any factor about their service which instills confidence among the investors and the amount of red flags screams at us to stay away from them. They have no regards to ensure the safety of the funds and the creators behind their organisation are also unknown.
Everything in the financial markets carry a risk and potential rewards but never anticipate consistent profits especially the kind of returns these scammers advertise.
BitElitum Review Conclusion
Cryptocurrency trading is a game of probabilities. We can never know the future price movement of an asset beforehand. The only thing within our control is to position our trading account with a strategy that gives some sort of edge over others along with proper psychological disciplines.
Forget about all these glitz these fraudsters uphold and never feed them with your money. BitElitum is just another phony ponzi scheme which will inevitable go down very soon and when it happens all the investors will loose their entire deposit.
Did you lose money to BiteElitum.com? Share your feedback by commenting below!
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