BTCMidas, which is hosted at BTCMidas.com, is a deceptive cryptocurrency pyramid scheme.
Being marketed as a highly lucrative cryptocurrency investment opportunity, the elements that we will reveal to you regarding BTCMidas will reveal how ill-natured and fraudulent the BTCMidas operation actually is.
To find out more regarding BTCMidas.com, we invite you to read our unbiased review.
What is BTCMidas?
BTCMidas is promoted as a professional managed investment service that focuses on the investment of Bitcoin and forex trading options.
According to their About Us page, BTCMidas has decided to open their service for small investors and has a few different investment plans that are ‘guaranteed’ to make you big returns.
Created by a fictitious Founder that we later discovered was nothing more than stock photo, BTCMidas employs all the tricks in the book to make you more likely to deposit into their scam platform.
Here are the investment plans allegedly rendered by BTCMidas:
Return: 700% after 1 day
Deposit: $30 to $300
Referral Commission: 3%
Return: 6,000% after 2 days
Deposit: $300 to $30,000
Referral Commission: 5%
Return: 50,000% after 3 days
Deposit: $3,000 to $300,000
Referral Commission: 10%
Might we add that the returns promised by BTCMidas don’t even quantify as feasible, they are downright ridiculous to say the least.
During the time of writing this review (12/30/2018), BTCMidas only accepted Bitcoin, Litecoin, PM, Payeer and AdvCash as supported payment methods.
Coincidentally none of these payment methods are irreversible once the funds have been sent, just something to think about before you commit with their scam.
Who is Behind BTCMidas?
BTCMidas discloses on their About page that they are overseen by BTC Midas Ltd.
Allegedly, “BTC Midas Ltd is a professional managed group of skilful Bitcoin and Forex traders.”
It should be noted that the misspell of skillful is just one of the many grammatical errors featured at BTCMidas.com, which is a common characteristic amongst scam operations.
According to a CompaniesHouse report, BTCMidas is a UK based corporation filed under company number 10481857.
Their alleged registered office address is Suite18 Equity Chambers, 249 High Street North, Poole, United Kingdom, BH15 1DX.
Tomasz Tuliszkiewicz is disclosed as the alleged officer behind BTCMidas while a Google search of said address will reveal that the disclosed physical location of BTC Midas is affiliated with 307 other corporate entities, most of which are likely fictitious.
As we have mentioned countless times before, but will reiterate for good measure, creating a UK based corporation is extremely simplistic and can be easily accomplished through aliases and fictitious digital addresses.
We have seen this tactic employed time-and-time again from untrustworthy investment operations that rely upon their fraudulent UK corporation to serve as a credibility crutch.
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BTCMidas reflects a rich pool of investor complaints across the Bitcoin community.
Among the most common complaints regarding BTCMidas would be how their platform does not pay out alleged earnings, has stolen money from investors and reflects horrible customer service skills.
BTCMidas.com was a privately registered domain that was acquired on January 4th, 2017 through the eNom, Inc registrar.
According to SimilarWeb, BTCMidas.com reflects a global rank of 2,465,743 with a US rank of 1,994,832 as of December 30th, 2018.
Given the information bestowed in the market intelligence report it goes without saying that BTCMidas is not a popular online investment platform.
Furthermore, BTCMidas.com was first launched in the 2017 calendar year and was originally shutdown.
After some time in hibernation it appears that the BTCMidas scam has resurfaced to cause havoc once more.
BTCMidas Pyramid Structure
BTCMidas.com is structured as a HYIP/Pyramid scheme hybrid.
As we have shared above, the returns promoted by BTCMidas are absolutely absurd and don’t even reside within the realm of possible.
Claiming to provide a professionally managed investment service yet failing to provide transparent proof that their investors are licensed is shady, to say the least.
When BTCMidas was first launched in 2017, it functioned as a pyramid scheme for quite some time before turning out into a full-pledged scam.
Using the deposits of newly registered investors to supply withdrawal demands of previously existing members, BTCMidas possessed all the traits of a pyramid scheme with a HYIP emphasis.
Is BTCMidas.com a Scam?
Incorporating stock photos to serve as the founding members of BTCMidas, the numerous complaints filed against their operation and the utter lack of transparency, it goes without question that BTCMidas is a scam.
BTCMidas.com Review Conclusion
BTCMidas is a cryptocurrency scam that is the living embodiment of an investment opportunity that is too good to be true.
Promoting unrealistic income assertions, incorporating stock photos while reflecting a rich history of complaints, we believe the evidence speaks for itself.
DO NOT DEPOSIT INTO THE BTCMIDAS HYIP Scam!
Outcome: BTCMidas is a SCAM!
Blacklisted Site: BTCMidas.com
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