Operate Bitcoin (operatebitcoin.com) is a Cryptocurrency trading and mining solution which claims to be the third largest producer of bitcoin in the world. They are also said to involved in trading many digital assets.
This platform supposedly generates returns of up to 15% daily forever which means you are guaranteed to be a billionaire and the best part is all you have to do is just invest, sit back and relax but sadly the returns claims are all fake and this platform has nothing to do with cryptocurrencies.
While we took a closer look at this service, we were convinced that this platform is a ponzi scheme. Continue reading our complete review to know all the shady trick this fake platform is using to loot you.
License and Background
Scams have flooded the cryptocurrency industry as it is very new and many people does not have the faintest idea about how they work. To protect common people from falling prey to fake investment schemes many laws are imposed by regulatory authorities on firms which provide financial services to the retail investors.
Simply put Operate Bitcoin is an ICO which uses money raised from investors for mining and trading activities and promise the investors certain fixed returns. When we were looking for any licenses this firm should hold in order to operate lawfully, there weren’t any.
We have confirmed through FCA this firm has never been licensed which means they are literally filling their pockets with the client’s money.
Every scam we have come across till now tries to appear genuine and this one is no exception. They have put up incorporation certificate on their website but rest assured they are not authorized to trade or invest on your behalf.
Here are the contact details of this firm:
Address – 41B Beach Road Littlehampton, West Sussex, BN17 5JA, United Kingdom.
Phone – +442033189681
Email – [email protected]
The support team can be reached quickly through the live chat feature provided on this platform.
How does Operate Bitcoin Work?
This firm states that it relies on efficient operations, superior network and advanced robots which ensure profitability in mining operations. They also claim to be the third largest bitcoin producer.
This firm is supposedly established by talented bitcoin dealers, traders and software engineers who are willing to help the investors make stable profit. After looking at their narration it looks like they have no idea about trading or mining.
Though they make bold claims about mining, they have not revealed which equipments they employ or the details about their mining farms which are all disturbing facts from an investor perspective. The trading history of these so called dealers or traders are not put up.
We have no idea about the trading approach or money management techniques. Basically they are asking you to send your money to them without showing any sort of credible evidence to prove that they are profitable in the first place.
Cryptocurrency market is one the most liquid market and has volatility to make significant amount of money but that does not essentially mean anyone can profit from them.
The returns these criminals have to offer is very unrealistic and by looking at the investment plans, it seems like they are just targeting inexperienced people and exploiting their lack of knowledge.
Returns – 5% Daily
Period – Forever
Minimum Deposit – $40
Returns – 7% Daily
Period – Forever
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Minimum Deposit – $5,001
Returns – 10% Daily
Period – Forever
Minimum Deposit – $10.001
Returns – 15% Daily
Period – Forever
Minimum Deposit – $15,001
According to the profit calculator on this website if you invest $15,001 you will get $2,250.15 daily. Sounds a little too good to be true, right?
According to whois.com this domain was registered on 02/06/2018 and expires exactly after a year.
A simple alexa.com search will reveal that this website has a global rank of 78,657 and it ranks 7,106 in Russia.
The majority of the users coming to this website are from Russia, Iran, Venezuela, Brazil and India.
They use ad networking sites like adbtc.top and mellowads.com to promote their platform.
All fake investments have only one primary goal which is to maximize their revenue before they get shut down. To lure in more people to their platform they offer an affiliate program wherein the individuals are paid for every successful conversion they bring in.
In addition to the commissions the affiliates are also given access to a variety of promotional and marketing tools which aims at effective monetization of the traffic. It is not mandatory for the affiliates to have an active investor to receive their share of the revenue.
Deposit and Withdrawal
The minimum deposit amount is $40 and the minimum withdrawal amount is $5. We do not know if there is any transaction fees associated with deposits and withdrawals.
The payment methods accepted by this platform are Bitcoin, PerfectMoney, Payeer and advcash. The withdrawals are said to be processed instantly.
Is Operate Bitcoin a Scam?
There is nothing but disappointment in store for you if you decide to invest your money with them. The support team will only respond till you deposit with them.
Once you have sent the funds they are least bothered about answering your inquiries or to provide any type of assistance.
Operate Bitcoin Review Conclusion
Operate Bitcoin is a fraudulent platform which has been active for less than a month as of August 2018. These type of pyramid or ponzi scheme will start out by paying few clients for sometime but do not start dreaming about financial freedom.
They will only operate as long as they are able to stay cash flow positive but once they are unable to find enough victims to their scheme, they will be gone before you can blink.
Do you have any experience with Operate Bitcoin? Share your opinion and feedback by commenting below.
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