BTC Binary is a new crypto mining solution which makes bold claims. The owners of this organisation are unknown and there are no clue about their whereabouts or physical location.
They are said to be actively mining bitcoin and offer returns of up to 20% daily forever. If you are a crypto enthusiast, then chances are you already know that, the claims these crooks are making is unrealistic and impossible.
Moreover, this platform follows all the deceptive tricks to persuade people. Before they tangle you into their trap, go through our review to understand their real nature.
Company and Support
All the firms which indulges with the public and takes money from them under the name of investments should be licensed. There is no exception to this rule and if anyone operates without adhering to them, then the consequences are severe.
This firm claims to be under the supervision of Panama regulatory authorities. However, they have not shown any proof to support their statements.
In fact, we personally checked the database of the relevant authorities and we couldn’t find any clue about them. So, without hesitation we can label them as a scam.
If you need to talk with the customer support of this firm, then the only way to do that is via email. Ask yourself, have you come across any firm which operates without providing the details of their whereabouts?
If this firm was truly legit, then why are they functioning from the shadows?
BTC Binary Business Model
BTC Binary claims to be active in mining Bitcoin. The funny part about their narrative is that, they haven’t put up enough explanation about their working process.
For starters, we do not know the physical location of their mining farms. There is no information about the costs and expenses they incur and no one knows the equipment they are currently employing. Moreover, even the details of the employees are kept mysterious.
In short, there is no tangible proof to support their claims. The main motto of these kind of shady platform is to lure people in using the latest trend present in the market.
Once they have people on their platform, they will try their best to exaggerate the profit potential and transfer money from the client’s pocket to themselves. So, if someone especially over the internet claims to make you rich, always do a thorough check about the opportunity.
Mining Plans and Returns
Cryptocurrency mining was an excellent solution for retail investors to make decent returns. However, those days are long gone now. Ever since the early 2017, the landscape in the mining section is entirely different.
Nowadays mining involves such high costs that, it might not be worth the risk for the retail side. Check out their mining packages, aren’t they all nothing short of a miracle?
Returns – 12%
Duration – Forever
Minimum Deposit – $1,001
Returns – 15%
Duration – Forever
Minimum Deposit – $10,001
Returns – 20%
Duration – Forever
Minimum Deposit – $50,001
Customer are the key to grow revenue in every business and this scheme is no exception. To gain a lot of client base while keeping their marketing cost minimal, they offer an affiliate program.
In simple words, if anyone drives traffic on to their platform, they will get fat commissions for it. So, now we hope you clearly know why many websites create fake reviews and narratives about this firm.
Basically, if anyone is pushing you towards joining them then, they are profiting from your loss. Be very careful when it comes to trusting your source of information.
Thanks to the courtesy of alexa.com and whois.com, we were able to find the following details about this website. However, note that, we were unable to trace out the real owners.
Domain – Btcbinary.biz
Registered On – 04/05/2019
Expiry – 04/05/2020
Global Rank – 374,971
Rank in Iran – 24,410
Target Audience – Iran, Russia, India, Brazil and Egypt
Anonymity and Ponzi Structure
The first major red flag that got our attention was the anonymous nature of this firm. They have not shown any details about the CEO or any employee of any rank for that matter.
If they were really able to generate 20% per day, then they wouldn’t they happily showcase their real identity? These crooks know that, if they show their real face, they would be tracked down and sent to prison.
To avoid criminal prosecution, they are doing their best to stay in the shadow. The operational model they follow is called as ponzi scheme. In short, they are creating a cash flow by using the money of the new investor to pay out the old clients.
Since this model is statistically guaranteed to crumble, they are considered illegal in most countries. So, even if someone claims to have got a withdrawal from them, understand that it is definitely not worth the risk.
BTC Binary Review Conclusion
BTC Binary is an age old scam which is popping up with new narratives. Just about everything with them is either false or highly misleading. Cryptocurrency and blockchain technology is undeniably the future.
However, do not get fooled whenever you are presented an investing opportunity concerning them. As a rule of thumb, never dare to deposit with any organisation, unless they have all the proper documentation.
After all, you can’t be too safe in the online world.