One of the challenges the crypto space has faced is that scammers have flooded it with sites that are meant to deceive people. These sites target people who know little or nothing about the crypto space and those who may have some knowledge but are guided by their instincts to make quick profit.
Irrespective of whom you are, unless you educate yourself through researching on investment offers before parting with your money, you would end up losing them to scams such as Bidstradeoptions.
What is Bidstradeoptions?
This is a site that claims that it is backed by a registered company that is based in New York. However, the lies are just too obvious because the phone number displayed on the site is not of US origin.
According to the site, Bidstradeoptions.com is legally registered with all the relevant authorities as an online investing firm, with the goal of providing profits from investing. It stated that if you wish to become an online investor that it is the best platform you could invest with considering that the owners are dedicated, capable and consistent in their quest to help you make money.
According to the site,
“Everything from our team of reliable and experienced expert investors to our wide range of data and statistics to our insider analysis and innovative investing strategies, we are geared solely towards you and your success. Our experts are available at any and all times to answer your queries and help you out with any questions or problems you may be having when it comes to investing.”
Is This Site Reliable?
What we have noticed over time is that scammers are taking advantage of the ease with which sites could be set up to proliferate fraudulent sites that promise unrealistic ROI.
This is a ploy to lure people by giving them the impression that Bitcoin is a path to overnight riches. This is why it is important that investors research the offers.
SEC Investors Alert states:
“Fraudsters rely on the sad truth that many people simply don’t bother to investigate before they invest. It’s not enough to ask a promoter for more information or for references – fraudsters have no incentive to set you straight. Savvy investors take the time to do their own independent research.”
It is easy to see through the scam that is Bidstradeoptions. The content on the site was completely plagiarized from another site. The owners simply edited the site by substituting the name of their scam for that in the original content.
This is an approach scammers use to quickly set up their fraud scam investment sites since they’re mostly lazy to really work on real content.
Use of Misrepresented Images
If you click on the “certificate” link, it leads to a PDF file that has an image supposedly of a presentation made by the company for investors on November 28, 2006. The image has nothing to do with Bidstradeoptions but is another ploy to deceive visitors to the site.
We conducted a Whois search on the domain. What we found out is that it was registered on July 27, 2019. It is inconceivable that a site that claims that it has been in operation since 2006 would have a domain registered in 2019, 13 years after being in operation.
The use of fake dates and images is standard practice among scam sites. Their objective is to do whatever it takes to make the potential investor to make investment deposits. The result of such investments is best left to imagination.
High Yield Investment Scam
This is what Bidstradeoptions is as seen from the investment plans. There is a plan that pays 35 percent in 3 days. Another pays 5.5 percent in just 15 hours.
This is grossly unrealistic. It is just like someone telling you to lend them $1000, that they’d pay back $2000 next week. No business of investment is capable of paying such profits. The scammer’s intent is to deceive the investor and steal their money.
The red signs that a site is fraudulent are not too difficult to miss. The problem is that many users are so eager to have their funds doubled that they fall prey to fraudsters.
Good investment sites do not promise unrealistic returns. They do not have some anonymous owners hiding behind the web to solicit for funds without proof that they have the expertise to manage them.
Most importantly is the fact that genuine investment sites are regulated and have the appropriate agency with oversight function over them. Since these sites have reputation to protect, they do not play around with people’s money. Neither do they promise ROI that are not in tune with realities of the time.
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