There are many sites that claim they could help you make money but in reality, no one makes money with these sites except the people that set them up. Bitbounty is an investment site that has made assertions that we decided to check on.
In this post, we shall examine the claims made on the site with domain, bitbounty.com with the view to ascertain if the owners are honest people involved in legitimate dealings or just another scam set poised to steal your funds.
Before we progress, it is important to understand that there are many people whose intention is to make money irrespective of how they make it. These include fraudsters and promoters of scams.
If someone directed you to the Bitbounty site, such persons may not have known enough about the site so it is important that you read through this post to understand what the site is about before making investment decisions.
What is BitBounty?
This is a company that claims that it trades markets, enabling it carry out income-generating activities. The site also stated that the company is registered in the UK giving a registration number it was allocated.
For a description of its activities, there is scanty information on the site, yet the owners expect people to invest on it.
In a nutshell, the site stated that:
“The company not only successfully combines super-lucrative lines of business, but also offers profitable terms of trust management to the customers all over the globe and secured remuneration to partners and regional representatives for attracting investments. The company embodies a modern high-tech business connected principally with the cryptocurrency (cloud mining of Bitcoin, trade on popular exchange markets and private cryptosurrency [sic] exchange).”
Is This A Reliable Site?
Well… judging from the content of the site, what is obvious to any savvy investors is not just that there is little information on what is going on in the company, the people behind the site can’t possibly be professionals.
The quality of the content is enough to tell you that these are not people that you should entrust your funds to. To understand what I’m talking about, here is investors’ alert from the Securities and Exchange Commission website:
“Fraudsters often use complex new technologies to perpetrate investment schemes. They can claim their technology is highly secret. Investors should always be suspicious of hard to understand pitches that accompany promises of outsized returns. Sometimes the language includes spelling, grammar, and typographical errors that can make the description confusing – another red flag the “investment” could be a scam.”
Our emphasis would be on the poor spelling, grammar and typographical errors. These are clear indication that you’re not dealing with a reputable company here.
Bitbounty is likely a site that has a poorly educated individual behind it hoping that they’ve set up a fraud with reasonable enough content to deceive some investors.
Fake Registration Certificate
We have been investigating scams for years and what we have discovered is that there are no perfect scams. A fraudster must tell some lies to pull through a scam and they only succeed if no one crosschecked the information they provided.
The Securities and Exchange Commission Investors’ Alert stated that:
“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”
On the Bitbounty FAQ page, the company wrote:
“Bit Bounty Limited is an experienced team of professionals from various economic and finance fields. Wide knowledge of trade markets and own trading strategies enable us to carry out income-generating activities and to produce a profit for numerous customers all over the world”
One would conclude that the name of the company is Bit Bounty Limited from the statement. However, the name on the registration number that the site claims belongs to the company is “Bounty Assets Limited”
You do not need to be an expert analyst to know that “Bounty Assets Limited” is completely different from “Bit bounty Limited”.
What we have observed with fraud sites is that they routinely claim the registration numbers or certificates assigned to other companies. Sometimes, they actually register their own companies and use it to defraud people.
That’s why smart investors never consider company registration a test of legitimacy for a site. Many scam companies are duly registered by the appropriate agency. What makes the difference if you’re dealing with the right investment site or not is the character of the people behind the site.
Who is The Owner?
It is obvious that sites like Bitbounty never reveal the identity of the owner. Dominique MITCHELL-O’NEILL, the name listed on the certificate that Bitbounty claims belong to it could not be traced to a real person associated with this site.
The other individuals bearing that identity did not identify with Bitbounty in their social and professional profiles. We concluded that this is a fictitious name used by fraudsters to deceive prospective investors.
How Long Has BitBounty Been Online?
A Whois search shows that the domain, bit-bounty.com was registered on April 11, 2019. This contradicts the claim on the Bitbounty site that it has been online since September 7, 2016.
We have already seen the other scam features such as the high ROI offered to lure investors to make deposits to this site. No genuine company offers high yield on your investments.
Bitbounty is an active scam that should be avoided at all cost. Sending your funds to scammers would result in losses.
There are better investment sites that are legitimate and regulated by the appropriate agencies. These are the sort of sites that experienced investors invest with.
Check up the site I use for an opportunity to copy expert traders using its social copy trading system. With this method, you’ll copy the best traders and get the same result they get.
What is your experience with Bitbounty? Share them using the comment box below. You can also suggest sites that you need to be reviewed by us using the contact page above.