Axbit is a mining service that is promising the investor that they stated the change of cashing out daily bitcoins by investing in their mining power and software.
However, this is now a common line used by scammers in the quest to steal the cryptocurrency of investors who did not conduct proper due diligence before buying mining plans.
The Challenge of Ignorance
In reality, scammers are taking advantage of the ignorance of people concerning Bitcoin and other cryptocurrencies to set up sites meant to steal from people. This is why you must read this Axbit post to learn some signs to watch out for if you’re thinking of investing in cryptocurrencies online.
Bitcoin mining is the process of generating bitcoins, carried out using specialized equipments that sometimes demand a lot of electrical energy to work successfully. Nevertheless, having these do not guarantee that you would get even a small fraction of bitcoin.
What is AXBIT?
Axbit claims to be the fastest bitcoin mining company that provides opportunity for users of the service to earn a lot of bitcoins without hardware and software. They claim that you may not even need to put down money to make profit using this platform.
They also claim that they’re getting 750 new users daily and have paid out 4700 bitcoins to more than 600,000 investors who have invested in the site.
How Feasible Are These Claims?
We ran a background check on this site and its claims and discovered that the domain Axbit.com was registered on April 30, 2019 which means that this is a site that is less than two weeks old. It is impossible for a site like this to have 100 investors talk less 600,000.
How could it have generated any money to pay 4700 bitcoins? It even claims that it has 750 new users every day. Ordinarily, Axbit should have been ignored but the reason we run reviews on sites that are obviously owned by crooks is that there are people searching for such information to help them make decisions.
Scammers would do anything to convince investors and steal their money. This is the primary reason sites like Axbit.net are set up. The cybercriminals behind it hope that some big investor or many small investors would be fooled to buy the dubious mining plans.
One of the strategies employed by shady sites is fake reviews. Axbit.net is not lacking it hoping that you’d be fooled thinking there’s something in it for you.
One Jerry Waal has been using the Axbit service since 2017. How possible could that be since the mother company was set up in February 2019 while Axbit was launched less than 2 weeks ago?
Interestingly, we found out that this scam site is related to another scam mining site Bitza.io. It seems that the scammers behind Bitza simply changed domains to fool more people.
A visit to the Bitza site confirms this:
Bitza needed to change from name due too [sic] copyright issues. We have changed our name to Axbit and our new domain name is: https://www.axbit.net
For our users nothing much changed. The only change is your referral link. You can get your new referral link in your member dashboard!
Bitza / Axbit Team”
This is not surprising. Scammers move from site to site as they are discovered. It is better perhaps to start a new one after defrauding many people so that the public outcry on the new site seems minimal.
In any case, what is obvious is that Axbit is not different from Bitza since the same entity is behind them. The only difference is that one was set up in February and the other in April with the same purpose of stealing from investors.
“Are You Convinced”?
The person behind Axbit asks to know if you’re convinced and ready to invest in the site. The question that we, at Cryptoinfowatch ask people who are defrauded by scam sites is what actually convinced them that they could make money from a site whose owner is unknown.
In reality, if that’s how easy it is to make money, there’ll be no poor people. No business has the capacity to routinely make huge profit and share with random people.
When you factor in the fact that there is no form of regulation or legitimacy around a site like Axbit.net, you’ll understand why it is a wonder that there are people who are actually convinced to send money to the wallets of the fraudsters.
Mining is not a sure path to wealth. Indeed, there is no sure path to wealth so when anyone claims there’s easy money to be made, do not believe them. Especially if they cannot prove that there is something worthwhile they’re doing to earn it.
Axbit is a confirmed scam and should be avoided. If you’re interested in a genuine investment that could change your financial future, check our recommendation.
We shall be keeping an eye on Axbit.net, nevertheless, if you’ve had experience with this site, please share them in the comment box below.