CryptoBitTrade.com is hybrid between the cryptocurrency and forex domains. Providing an auto trading solution for cryptocurrency investors, CryptoBitTrade focuses on taking the deposits of new investors and providing a fixed daily return of 1% for every weekday. In addition to offering automated investment services, according to the CryptoBitTrade website they also supplement investors income through Bitcoin mining, although we found no evidence to support this claim.
While CryptoBitTrade (CBT) appears to be an exciting and genuine investment opportunity, extensive research into the framework of this site will reveal the contrary. As you continue to read our in-depth review, we will supply you with adequate evidence as to why this crypto auto trader should be averted and provide guidance to more legitimate investment alternatives.
What is CryptoBitTrade?
CryptoBitTrade is an online platform that depicts their operation as an integration between the forex and cryptocurrency industries. As with most untrustworthy investment operations, CryptoBitTrade incorporates a “deposit and forget it about it” style of investing where the only work that investors have to do is deposit and withdraw their funds. According to CryptoBitTrade.com, their platform features a completely automated trading system and has the ability to partake in Bitcoin mining.
How does CryptoBitTrade Work?
CryptoBitTrade.com functions in a rather elementary nature, where interested investors only have to create, login and deposit to become an active member of CBT. Once you have deposited into the platform, a strict no refund policy is endorsed and your funds are allegedly managed by the CryptoBitTrade system. No reference is made in regards to any financial experts allegedly employed through the platform and they claim that their system operates on complete autopilot.
The deposit requirements set forth at CBT range between a value of 0.05 BTC to 16 BTC. Once you deposit into the platform, investors will allegedly receive a daily return of 1% until the platform seizes to exist. While there are no reports of anyone receiving any payouts from CryptoBitTrade, we feel the need to point out that this business model is not sustainable on a long-term basis and that withdrawals only become eligible after 0.03 BTCs have been amassed.
Then there is the matter of how CryptoBitTrade allegedly conducts Bitcoin mining. Which if that was truly the case, surely there would be some information pertaining to which mining hardware they are using along with where their data centers were headquartered from. However, just as with the so-called auto trading, there is no evidence to verify the legitimacy of either of these claims. Furthermore, the only traceable form of revenue entering the site originates from deposits performed by investors which leads us to deduce that this operation is a Ponzi scheme.
The CryptoBitTrade Scam Test
Does the site promote unrealistic returns?
Coming from a newbie investor point-of-view, a daily return of 1% may not seem like much and could come off as believable, which undoubtedly is what the creators behind CBT are hoping for. However, if you take into due consideration that a daily return of 1% for every weekday equates to an annual return of about 260% then it becomes more unrealistic and unbelievable. Couple that knowledge with the fact that the site provides no information regarding their investment practices and the answer becomes quite clear.
Does the site provide ownership details?
CryptoBitTrade operates as an anonymous entity and fails to provide any operator or ownership information. While there is a Contact widget featured in the header of CryptoBitTrade.com, it fails to function properly and the Terms and Conditions don’t disclose any identifiable information either. These discoveries led us to conduct a WHOIS domain search, where we found that the site was created on May 5th, 2017 but was unfortunately privately registered so finding out registrar information was beyond our grasp.
Does the site evasively elaborate their operational model?
CryptoBitTrade greatly conceals their operational model from prospective investors. Providing visitors with just enough information like 100% Automated System, 1% Daily Return, Mining and Forex Trading to obtain an incomplete understanding of what their platform features. No information regarding how your funds are managed, which options are invested, which mining hardwares are used or any ownership information are disclosed on the site.
Are any legitimate sites associated with the website?
CryptoBitTrade.com is not affiliated nor shares any backlinks with any legitimate sites. While a couple of sites have been found to share a backlink with CryptoBitTrade, they feature phony positive reviews that endorse this Ponzi scheme and incorporate affiliate links.
Does the site provide identifiable contact or support solutions?
CryptoBitTrade.com only provides anonymous contact forms that appear in the form of a submission forum featured above the footer of their site or through their email address of [email protected]
How popular is the website?
CryptoBitTrade.com possessed a SimilarWeb global rank of 477,459 as of January 2017. Approximately 50% of the sites visitors originate from the United States and the Netherlands while over 27% of the sites traffic is referral based. While the site may appear to be growing in popularity, we feel the need to contend these analytics due to the fact that CryptoBitTrade.com is relying upon traffic exchange sites like adbtc.top to hoodwink search engines and market intelligence sites to appear more popular than they truly are.
Can CryptoBitTrade be Trusted?
After further evaluating the information disclosed above, it becomes evident that CryptoBitTrade is not a trustworthy investment platform. Operating with complete anonymity while failing to provide any relevant or a shred of information regarding their investment or mining practices are major red flags in our books.
CryptoBitTrade Review Conclusion
CryptoBitTrade.com is a misleading Ponzi scheme that disgraces both the forex and cryptocurrency industries. Luring inexperienced investors in by promoting unrealistic returns while failing to divulge any operational or ownership details just goes to show how untrustworthy of an investment venture that CryptoBitTrade truly is. When it comes to investing online, make sure to only invest with verified and transparent solutions.
Review Conclusion: CryptoBitTrade is a SCAM!
Blacklisted Site: CryptoBitTrade.com
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