What is the purpose of so many sites claiming to mine bitcoin? This should be a straightforward question but one that is mostly overlooked by many because they are eager to make money without acquiring necessary knowledge. Bit-donor is one of the many sites set up to deceive gullible people who think that bitcoin could be easily mined.
The concept of Bitcoin is one that needs clear understanding before anyone starts thinking of investing in it or any other cryptocurrency. Without understanding, the possibility of losing money is quite high.
You may not have known the intricacies of blockchain the technology behind bitcoin or cryptography, the principles behind its security but one thing you must not learn is that Bitcoin is money and money is not easily picked on the street unless it is a worthless currency.
The reason Bitcoin is valuable is because it is scarce like gold. To earn bitcoin, you must work for it or purchase it. Any other easy pathway promised by dubious sites will certainly result in losses.
We are all aware that valuables are protected so that unauthorized persons do not have access to them. That is also applicable to Bitcoin. But we know that because this is a new technology, there are many that are still ignorant about how it works.
Scammers are aware of this so they have been setting up thousands of sites to deceive people into buying bitcoins with their hard earned money and depositing on these scam sites by promising them large profits as we shall examine with Bit-donor.com.
What is Bit-donor.com?
This is a site that claims that it is mining bitcoin. Even though there are many others claiming this activity, it is not difficult to realize that these are scammers hiding under BTC extraction in a bid to steal from people.
One way of knowing scam miners is that they would usually guarantee earnings far above the market reality. They must do this because that is the only way to entice the investors to come. Nevertheless, the investors that are easily lured into such questionable mining investments are the greedy and ignorant. One would have expected that before anyone sends their money to be invested, they should have had rudimentary knowledge of what they are buying into.
This is not always the case so sites like Bit-donor thrive because there are people that do not conduct relevant research before sending their funds to strangers across the internet because they are eager to make profit.
According to the Bit Donor site, it describes the business by saying,
“Bit-donor.com company is unique, promising mechanism, with affordable and cost-effective marketing approach. Which is able to provide long-term earnings prospects, people who are discovering new opportunities, seeking to gain financial well-being.”
One feature that sometimes gives away scam websites and companies is their inability to hire expert copywriters. This makes their lack of language proficiency obvious. But do not be deceived, there are many scam miners that are manned by erudite entities.
Even if their owners cannot create standard websites, they could easily afford to pay experienced designers and writers to put across the ideas behind the scheme.
As you can see from the Bit Donor web copy, these are not professionals but do not be surprised that some investors would still make deposits to this site.
High Interest Rates
donorAnother feature exhibited by scam sites as seen with BitDonor is guarantee of big profits. The lowest profit promised by the site is 120% in 24 hours. This is quite astounding because there are few businesses that can consistently guarantee such gains within such a short period.
The second plan is 140% in 2 days while the third one is 200% in three days. This should be enough evidence that this is a scam site using high interest to entice potential users to make deposits so that they would steal deposited funds down the line.
This model of scam seems to be the most popular on the internet these days mainly due to the fact that there is high awareness about cryptocurrencies especially after the value of Bitcoin rose to nearly $20,000 in December 2017.
A look around the Bitdonor site shows that all the information provided on it is false. The site claims it started operation in January 2017, but a whois search shows that the domain was registered on October 23, 2018.
It also displays a false list of depositors and withdrawals with claims that it has more than 5000 members who have made total deposits of $124,000. These false statistics were meant to deceive the potential investor and encourage them to make deposits.
There is a referral program that pays 3 percent to affiliates helping spread words about the project.
Scam miners may pay small depositors to encourage them to send in bigger deposits. Most users of sites like this end up losing their big funds so the winners are always the scammers.
This is why you should keep away from sites like this. The best way to increase your Bitcoin holdings is by trading. For a company that can help you do this, check here.
If you’ve had experience with Bit-Donor.com and want to share it, please use the comment box below.