Bitfinance.ltd is a cryptocurrency investment solution which supposedly generates returns ranging from 10% to 12% per day which adds up to an average of 300% monthly. This firm states that all you have to do is send your money to them and watch how your account grows.
The returns claims are outright lies and there isn’t a single credibility boosting factor on this website. Their platform represent most of the common traits present in the ponzi schemes.
If you are looking for more information about this so called innovative investment firm which claims of changing your financial situation drastically, continue reading our comprehensive review to find out why you should never indulge with them in any way.
License and Contact Details
Every regulatory authorities tries to prevent scams and lays strict rules on firms which provide investment advice to the public.
Since Bitfinance.ltd is an ICO which raises money from investors for trading purposes and provides them with certain predetermined returns, they need to hold certain licenses. While we were trying to validate their services, we couldn’t find any certificates confirming licenses they should lawfully hold.
We have confirmed through FCA this firm has never been licensed which means they are literally filling their pockets with the clients money.
These crooks certainly have tried to appear legitimate, they have put up some type of registration document on their website but that does not give them the rights to collect money from the public.
Here are the contact details of this firm:
Email – [email protected]
Address – 78 Canterbury Rd, Sunderland, United Kingdom, SR5 3LD.
One of the major red flag is that despite all their bold claims this investment firm fails to provide any telephone numbers or assistance to their clients. No legitimate investment solution can afford to operate in such an unethical way.
How does Bitfinance.ltd Work?
This firm states that it is a mover and shaker on the forefront of the online trading market. Their team is led by a bunch of self proclaimed forex trading professionals who have the necessary knowledge in the forex market are are willing to provide the investors with the right guidance.
This narration is absolutely bizarre and does not provide enough information to the potential investors. Their trading approach is not discussed. We are not provided with the performance reports of these expert traders, so we have no idea regarding the kind of maximum win rate and drawdown we can expect.
In certain way investing your money with this firm is just like gambling because you have no edge. Seems like these con artist have not really done their best to convince the people.
Forex and cryptocurrencies are some of the most volatile trading instruments. While it is possible to generate enormous amount of money from trading, remember that it takes a lot of time, dedication and backtesting your strategies along with proper risk profiling methods.
Often times when beginners try to find a way to earn easy money, they stumble upon fake investment platform wherein these faceless scammers exploit the lack of knowledge of the newbie investors.
Here are the investment plan details offered by this platform:
Returns – 10% Daily
Duration – 15 Days
Minimum Deposit – $10
Returns – 11% Daily
Duration – 15 Days
Minimum Deposit – $500
Returns – 12% Daily
Duration – 15 Days
Minimum Deposit – $1,000
The primary motive of all these ponzi scheme is to earn as much as they can before they get shut down. To grow their client base they offer an affiliate program wherein the individuals promoting this firm are paid certain percentage of the deposit amount made by the investors they bring in.
If the affiliates bring in huge volume of deposits they are promoted to the representative status which enables them to get higher percentage of commissions. It is not mandatory for the affiliates to be an active investor to get their payments.
On this website there are a lot of testimonies featured wherein the early users have expressed their opinion about this firm. If you look at them thoroughly they all appreciate how this platform doubled their investments in a short time and are extremely positive.
Since there are no social media profiles attached to the comments, we strongly believe that they are all from imaginary persons with a stock photo.
Deposit and Withdrawals
The minimum deposit amount is $10 and the minimum withdrawal amount is $1. The e-currencies accepted by this platform are Bitcoin, BitcoinCash, Litecoin, Ethereum, Dash, Dogecoin, PerfectMoney, Payeer and advcash.
There are no transaction fees on withdrawals except for bitcoin for which the fees are around $4. They state that the withdrawals are processed instantly but sometimes it can take up to 48 hours.
According to whois.com this domain was registered on 13/06/2018 and expires exactly after one year.
This website ranks 19,172 in Taiwan and has a global rank of 524,274 according to alexa.com.
The majority of the users coming to this website are from Taiwan, Czech Republic, Nigeria, India and Vietnam.
Is Bitfinance.ltd a Scam?
After taking a complete look at their platform, we are sure that this firm has nothing to with trading. If this firm somehow managed to achieve the type of returns advertised on their platform then why are they reluctant to provide verifiable trading history or reveal any names of the traders involved?
The lack of transparency along with the fact that they are operating illegally means you should never dare to mess around with this fraudulent platform.
Bitfinance.ltd Review Conclusion
Bitfinance.ltd is a ponzi scheme which basically uses funds deposited by the new investors to pay the old participants. This model as you know can’t last forever. Get rich quick schemes like these are all guaranteed to flee away with your money sooner or later.