Ok Bit Hour (Okbithour.com) is a company which claims to provide an easy way of earning money from cryptocurrency trading to the everyday people. The participants do not have to do anything other than sending them funds. They are said to achieve consistent returns of up to 25% for every 30 hours.
These kind of returns may be believable but understand that even the best traders working for hedge funds also cannot achieve them on a daily basis. Along with the fake return claims we found a bunch of misleading information on this platform, to know why you should never give these crooks a chance to run away with your funds continue reading our full review.
Company and Contact Details
Ok Bit Hour represents an ICO. They use funds raised from general public to trade in various cryptocurrency exchanges. The investors are promised some amount of money after the contract agreed and entered by both the parties expire.
Any investment firm which deals with providing these specific services have to hold special licenses. While we were trying to find out any information about this service in the FCA database, we couldn’t find any which means this firm is operating illegally and the owners of this corporation will be arrested sooner or later.
Since this platform is completely silent about these matters, they are definitely not authorized. As always we suggest our readers to stay away from all the unregulated firms. Here are the contact details they have put up:-
Address – 69 Greville Street,London, United Kingdom EC1N 8DA
Email – [email protected]
How does Ok Bit Hour work ?
According to the narration provided on their website, the funds raised are supposedly handled by a group of blockchain and cryptocurrency market experts. They are said to be using some sort of trading algorithm which identifies best options for buying and selling.
This explanation is way too general and does not prove to be of much help. There are a lot of parameters which have to be considered while trading other than just supply and demand zones. If their strategy really worked then why are they hesitant to show any account history which proves that they are profitable ?
The other inseparable parts of trading like risk management, diversification and money management are also left undiscussed by them. Are you willing to send them your hard earned money even with all these disturbing facts?
Cryptocurrency might be the volatile instrument currently which provides ample amount of opportunities but the also it is impossible to earn 25% ROI hourly. Here are the exact details of the investment program but do not get carried away, after all they are just fake.
Returns – 0.656 % to 0.825 % Hourly
Duration – 160 Hours
Min Deposit – $ 35
Returns – 1.37 % to 2.47 % Hourly
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Duration – 80 Hours
Min Deposit – $ 500
Returns – 10 % to 25 % Hourly
Duration – 30 Hours
Min Deposit – $ 5,000
To grow their profits, these scammers know that they have to find new victims for their scheme. In order to reach more people in a pocket friendly way, this firm features a referral program wherein anyone who refers people to this service gets paid anywhere between 3% to 10% of the deposit amount made by the investors.
Moreover the affiliates are not required to put in any money for the scheme. So if there is anyone who is guaranteed to lose money, it will be the clients.
On their website they show that they have an investor base of over 1,300 people, we believe the numbers might be exaggerated. According to alexa.com this website has a global rank of 2,478,994 and in Algeria it ranks 33,770. This site seems to be targeting users from Algeria, Russia, Bangladesh and Ukraine. A search on whois.com will reveal that this domain was registered on 05/05/2018 and it expires on 05/05/2020.
Deposit and Withdrawal
The minimum spend is $ 35 and the threshold for withdrawal is $ 0.10. The e-currencies accepted by this platform are Bitcoin, Bitcoin cash, Ethereum, Perfect Money, Payeer and adv cash. There are no fees imposed on withdrawals and they state that the payouts are credited instantly.
Is Ok Bit Hour a scam ?
A big yes,
First of all the investors are kept in dark and never told about how the funds are utilized. The person running this firms seems to adore anonymity and haven’t left any sort of clue behind to trace their true identity. If we give this organisation the benefit of doubt that also will be meaningless because they haven’t provided any way to test out the efficiency of their strategies in real time without putting your money at harm’s way.
Ok Bit Hour Review conclusion
Ok Bit Hour is a nasty scam you do not want to mingle your money with. There scheme has many similarities to a pyramid or ponzi structure and the amount of false information which projects a false sense of being profitable are all undeniably goes to prove the same. Once these con artists have more than enough money or for some reason cannot be operational then overnight they will shut down the website and everyone’s money will never be retrieved.