Bitpetite is one of those HYIP schemes which attempt to lull their first-time visitors into thinking they’re something entirely different. Bitpetite poses as a bitcoin mixing/tumbling service, and as such, it appears to be entirely legitimate at first glance. At a closer look though, its true nature is revealed, as we learn that the tumbler angle is little more than the usual “cover-story” for the HYIP scheme within.
What is Bitpetite.com?
Bitpetite is a HYIP/Ponzi scheme offering a daily return of close to 4% on individual bitcoin investments, which alleges that it makes its money/profits through a coin mixing operation that it is running. Some of the similar schemes we have recently reviewed have used nuclear energy investments, forex trading and even laser technology sales as an explanation serving the same purpose. Here, we have Bitcoin-mixing. According to some, there is in fact no Bitcoin mixing going on at the site at all…
What exactly is Bitcoin mixing/tumbling?
Since the financial activities of Bitcoin users can be tracked back handily through the blockchain, to enhance anonymity, some resort to services which take their bitcoins, obfuscate their origins by mixing them into a larger pool, and then hand them an equal amount (minus a commission) of “clean” BTCs back. Indeed, some are willing to pay the commissions associated with this service, so legitimate Bitcoin mixing services are indeed very profitable. They are far from the 4% daily profit mark promised by Bitpetite though, even so.
Can I Trust Bitpetite.com?
Probably no more than you would trust a sleazy used car salesman, which is to say that you obviously shouldn’t. Even if some people did get paid by the operation, it is an obvious pyramid scheme and it will ride off with its victims’ monies sooner or later.
Promises and Features
Bitpetite claims that in order to be able to run its coin mixing service seamlessly, it needs “dynamic funding,” as in money from investors. The investment plan is really simple: those willing to sink their money into this scam, can use a calculator available directly on the investment page, to learn exactly how much they will be able to earn over 6 weeks and 9 weeks – the two featured investment periods. The numbers are obviously attractive, so much so that they are indeed too good to be true. Several crypto currencies are accepted for investment purposes: BTC, LTC as well as ETH.
The calculator displays the daily net income in USD, as well as the weekly, monthly and total net incomes, using a 4.5% daily interest rate. The break-even point on the investment is set to about a month from the start.
Question Marks and Red Flags
For a well-versed cryptocurrency user endowed with common sense, everything discussed above is a massive red flag.
The About Us section of the Bitpetite website does not offer much in the way of useful background information on the operation. It does link to a Certificate of Registration though, which is in line with what we have seen at most of the other similar scammers. Bitpetite Ltd. has apparently been incorporated in February, 2017. As far as contacts go, we are given a Skype and an Instagram ID.
The web domain bitpetite.com was registered in 2016 and the identity of its registrant is privacy-protected, as obviously no one is looking to have his/her name directly associated with this scam.
BitPetite is available on the Dark Web with the following address: petite3b4qmoqbpl.onion.
The bitcointalk forums living testimony to this, most people have recognized Bitpetite for what it truly is: a textbook Ponzi scheme.
When this review was posted on September 28, 2017, BitPetite’s global Alexa rank was 13,795, indicating it’s a very popular website. Much of its traffic seems to come from countries such as the United States, Brazil, United Kingdom, Venezuela, Russia, India, Spain as well as other countries.
According to SimilarWeb, more than 60% of the people who reach the site are referred via sites, such as mellowads.com and adbtc.top. They also seem to be running a small social media campaign, specifically on YouTube and Facebook.
BitPetite Review Conclusion
Do not invest any money, virtual or fiat, with Bitpetite.
Review Verdict: BitPetite is a SCAM!
Blacklisted Site: bitpetite.com
Have you been scammed by Bitpetite? Let us know by commenting below!
Update (October 28, 2017): We’re flooded with positive comments on Bitpetite, which include affiliate links. In the past we used to delete the link and keep the comment, so keep in mind some of the positive comments below may be fake! From now on though, we will NOT approve any comments which include an affiliate link so save your trouble and go comment somewhere else if you’re promoting this SCAM!