It is disastrous for an investor to invest in cryptocurrency trading platforms without making sufficient findings on the authenticity of the platform.
This is the reason why so many have lost their funds on these exchanges because they think every exchange is credible. As a matter of fact, there are many illegal platforms that have scammed many investors who arbitrarily invest or trade with them.
To protect investors from these pitfalls, constant research is essential to find these dubious exchanges and warn you to keep off them. This is why you should analyze Bitearn to know why it’s best to keep off this exchange.
What is Bitearn?
According to the site, the company was founded in 2016 by professional forex traders to meet the demand of different investors in the market. It claims dedication and expertise in trading, assuring its investors that they are assured of profit if they invest with them.
False Claims To Legitimacy
It featured some registration certificates on the site in the bid to prove its legitimacy but we have known that scammers routinely register companies with the intent to defraud investors.
A Whois search of the domain, bit-earn.co shows that this site has been online for just 2 months. This makes nonsense of the claim that the company has been operational since 2016.
This is not surprising because scam sites generally tend to create the impression that they’ve been online longer than they’ve actually been because they want users to think of them as having credibility.
No Owners Linked
The site claims that it has gathered some of the best skilled professionals on its team. But it could not list the name or profile of any of them. As a new platform that has no online reputation.
What is common these days is that malicious actors being aware that they can find ways to deceive some investors target the lure for massive profits as the bait with which to convince people to make investments.
When you find platforms asking people to make deposits without revealing the identity of the owner or how they hope to generate the profit they promised, you can bet you’re dealing with a scam site.
A Ponzi Scheme
There are many people who in their quest to make a living online end up promoting scams. This is the reason why most crypto scam sites lay emphasis on affiliate recruitment.
The bitearn is interested in these affiliates because they generally help create buzz around illegitimate exchanges such as this, thereby luring people to make deposits.
Bitearn claims that they have paid up to 10 levels the commission without providing a source of income. It is obvious that this is not a reliable platform and there is no evidence that it has paid anyone despite displaying charts.
Bitearn Investment Plans
This is one of the few exchanges that are selling investment offers with high ROI. This is a clear red indication that this is a fraud. In fact, all high yield investment programs are fraudulent.
Bitearn claims to give its investors four percent daily commission on the purchase of its shares until investors finally get a total return of 130% and it also promises to always share the platform revenue based on the growth and gain of the company.
No exchange or business has the capacity of paying investors 300 percent on their investment in just 4 days. This claim by Bitearn is just bait for greed. Sending funds to this scam exchange is a sure way to lose your money.
Unimaginable Returns On Investment
Believing that Bitearn is really an exchange that can pay you 120% of investment within 24 hours is nothing short of a big joke. At best, what scammers behind sites like this do is pay a few early investors to publicize the scheme.
They may do this for a few weeks or months to grow the site’s traffic and when the funds really start flowing in, they’d shut down and become another exit scam.
It is crystal clear that BitEarn platform has no future and is ready to steal its investors’ funds. There are better and more secure exchanges where you should invest your funds.
Please check here for our preferred investment platform which is regulated and would show you straightforward techniques to grow your funds.
If you have opinions about this exchange, please send them in through the comment box below.