DoubleBitcoin (DoubleBitcoin.io) is the latest Ponzi scheme to grab our attention within the cryptocurrency arena.
Promoting the highly unrealistic assertion that investors can double their Bitcoin deposits in just 24 hours is absolute ludicrous and essentially implies that DoubleBitcoin is metaphorically screaming “Ponzi scheme” from their foundations.
Created just over 4 months ago, DoubleBitcoin.io has managed to stay under the radar for quite sometime, but thankfully due to our subscribers insight we will be exposing this ominous Bitcoin investment.
To find out more regarding DoubleBitcoin and why you should avoid this platform, we invite you to read our honest review.
What is DoubleBitcoin.io?
DoubleBitcoin is an online platform that claims that cryptocurrency investors can double their Bitcoin deposits within 24 hours.
To date the platform states that they have received over 178,317 deposited bitcoins and has issued around 162,854 in paid bitcoins.
According to their FAQ section, DoubleBitcoin.io places a “very high value on transparency,” yet their site fails to indicate how specifically these astonishing feats of promoted returns are achieved.
DoubleBitcoin does not provide any information regarding their owners or current operators.
They claim that their average support time to receive a reply is roughly 4 hours, yet we believe this operation is just as likely to render you a 100% return on your bitcoins as you are to get a reply.
In other words, you will likely never hear from the con-artists operating this site.
How does DoubleBitcoin.io Work?
As we briefly touched upon above, DoubleBitcoin.io does not specifically provide information in regards to how they generate profits.
Detailed in their FAQ section would be the following:
“In DoubleBitcoin you do not have to sign contracts…All profits are provided by new investments.”
Whether this statement indicates that DoubleBitcoin is employing a professional investment team or if they are simply using the new investments from recently registered traders we are unsure.
But given the information we know regarding DoubleBitcoin we believe it is the latter.
The minimum deposit in order to get started with DoubleBitcoin is 0.0000050 BTC while there is no cap for a maximum deposit.
To add, the only accepted payment form is Bitcoin, which bear in mind is an irreversible form of payment.
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Furthermore, DoubleBitcoin.io allegedly offers a 50% referral commission bonus to users who successfully refer other members.
However, given the nature of this Ponzi scheme, we highly doubt that they are paying out.
There isn’t much feedback circulating around DoubleBitcoin.io yet which could partially be contributed to their youthfulness.
We did come across a thread at BeerMoneyForum but most of the thread is comprised of affiliates seeking to receive the high referral bonus from recommending new investors.
According to the most recent feedback, however, DoubleBitcoin.io does not appear to be paying.
A WHOIS report will reveal that DoubleBitcoin.io was privately registered on August 23rd, 2018 through the NameCheap, Inc registrar.
According to SimilarWeb, DoubleBitcoin.io reflects a global rank of 25,225 with a Brazil rank of 7,260 during the time of writing this review.
Approximately 47.99% of the incoming traffic is referral based while display advertisement sources contribute an additional 4%.
As with most Ponzi schemes that enter the Bitcoin fold, DoubleBitcoin relies upon the heavy usage of traffic exchange websites such as adbtc.top to appear more reputable than they truly are.
An increase of over 5,000% in the traffic originating from adbtc.top is a clear indication that DoubleBitcoin.io is relying of this site to get better web-rankings.
The discrepancies regarding DoubleBitcoin are numerous but the main ones that you should concern yourself with would be as followed:
- No verifiable ownership information
- Income assertions are highly unrealistic
- Reflects a clear-cut Ponzi scheme model
- No information regarding how profits are accumulated
Is DoubleBitcoin.io a Scam?
Without a doubt, DoubleBitcoin.io is a Ponzi scheme turned scam operation.
DoubleBitcoin.io Scam Conclusion
We feel confident in stating that if you were to put your trust and bitcoins into the hands of DoubleBitcoin.io, that you will likely have your spirit wounded and your bitcoins stolen.
While we understand that some daring crypto investors like to gamble with the possibility of accruing a quick return by trying to hit Ponzi schemes early on, DoubleBitcoin.io is not all that youthful when you consider the fact that Ponzi schemes don’t reflect very good longevity.
Bear in mind that the owners behind this scam employed every measure deemed necessary to remain anonymous as well, which means when they take your money and run, you have no actionable recourse.
Our two cents regarding DoubleBitcoin would be to avoid the Ponzi scheme as a whole and only invest with verifiable and proven investment solutions.
Verdict: DoubleBitcoin.io is a SCAM!
Blacklisted Site: DoubleBitcoin.io
We invite you to share any insight, feedback or experiences you may have below!