The invention of blockchain came with new financial opportunities. Bifinder is a site that we recently came across that promises investors that they could earn money by taking advantage of the investment packages found on the site.
We have learnt that investment sites are not to be trusted blindly just because of what they state on their web copies. We are more interested in the intention of the people behind the site and the workability of what they are proposing.
That is why we are looking at Bitfinder to know if it is a site that you can trust with your cryptocurrency funds. So if you’re about making investment with this site, spare some time and read through this review.
What is Bitfinder?
The domain that points to the site is bitfinderivdotcom. It was registered on November 25, 2018 by a domain registrar, Namesilo LLC. The seven month old site promises its users that they could earn some profit even if they make investments of small amounts.
They seem to have backed this up with an investment plan that starts with small amounts such as $15. However, they do not really mind if the invested sums are huge and runs into tens of thousands of dollars.
Our concern however is not the amount of money people could invest with Bitfinder. We would want to know who is behind the site, what they are doing to generate profit they claim to pay people, if they are paying the investors, are they likely to stay around a long time or would they steal people’s money and disappear?
These are the pertinent questions that we would attempt to answer so that you decide if this is a site that you want to invest your funds with.
Who is Behind Bitfinder?
Going through the site shows that there was no indication of who the owner is. There is also no inkling of where it is located. This is very suspicious because a legitimate business offering financial services such as offered by this site should exhibit a high level of transparency.
Also, there are basic requirements such as relevant authorization by relevant financial regulators. None of these was provided by Bitfinderiv. This should raise a red flag with any experienced investor, telling them that there is something fishy about a site.
Also, there is no evidence that the site actually is based in London as it claimed. This is contradictory to the Bucharest address that it provided showing that it is not consistent in its claims.
What is its Line of Business?
There is no clear information on what the entity behind this site does to make money. There is no evidence that there is a business at all behind the scene, but a bold attempt to get people to make financial deposits with the promise of reward. According to the site,
“Anyone can make investments using our website. The interface is so easy to use that even someone with zero experience can figure it out. In addition, our experts are available online 24/7 and are always ready to help. Trust management with BitFinder . We help our clients earn money on the volatility of the Finance market.”
The reality of this sort of claims is that there are many scam sites making it. In fact, the promise and lure of easy money is what feeds scammers. Words are just wind and internet fraudsters use various approaches to convince people and steal their money.
It is so easy to claim that you could pay investors a lot of money just to convince them to make deposits. In reality, most sites eager to get their hands on your money have no plans of making you see profit. It is just as if you’ve thrown you funds away when you invest in these attractive offers that hold no waters.
Would this Turn Another Exit scam?
This site has all the features of an exit scam as we can see from the promises of easy money. Money does not grow on trees. So anyone that tells you that you could earn it easily with no work just by sending them money may end up being the only one that makes money.
The site displays a lot of fake stats to make people think that there are many other investors buying the investment plans. You have to understand that this is a common technique employed by scam investment sites.
Bitfinder Promises Unrealistic Income
The most obvious evidence that shows that the Bitfinder scheme is a scam is the ROI it promises its investors. The least is 10 percent in just 12 days. This is unrealizable because there is no business that has the capacity to pay this to every investor.
It is very much like throwing aware their money which no business does. It is obvious that Bitfinder, like other scams uses high ROI to lure potential depositors to the site to scam them.
The program has an elaborate affiliate program which is clearly aimed at creating publicity for the site. What is clear is that if this site pays anyone at all, the payment would come from funds deposited by newly recruited participants.
This is the approach employed by ponzi schemes and are known not to be sustainable. This is why you must avoid sites such as this because their objective is to generate a lot of funds from uninformed investors and exit.
Interestingly, the site’s domain is BitfinderIV. This means that the company is claiming that this is the fourth model of the investment scheme. It may just be a name but whatever it means, this is an active scam and should be avoided.
There are better sites that would make you money and still help you keep your investments safe if you are interested in trading cryptocurrencies. These is the type of site that you should invest with.
Any site offering financial service without a regulatory oversight is very risky. You would do well to keep away from them. You may check our top recommendation where you can easily learn from a community of investors and copy what they are doing to grow your investment portfolio.
If you want to share your experience with Bitfinder, please use the comment box below.