Bitles EU, A Crypto Investment Site Or A Ponzi?

Thinking of some investments in crypto or other assets? There are lots of options out there. Unfortunately, where there is money, other players such as fraudsters are bound to be found. So in this Bitles EU review, we are looking at what this investment site has to offer and if it is one that you should pay attention to.

Bitles is a site that asserts that it would help investors to earn and multiply their assets in an automated mode. This is why we are interested in finding out how it goes about it. It also claims that the investor could hold their assets and earn profit of 30 percent monthly, which is quite a daring claim to make.

Bitles

According to the site, it used a trading bot, Cryp-Spider AI which a proprietary algo trading system to make trades and profit. Well, it is easy to make such claims but quite difficult to prove them especially with respect to trading bot successes.

How Reliable is Bitles?

Reliability for a crypto investment site or any other investment company for that matter is dependent on the competence and integrity of the people behind it. These days, there are many investment sites that would not name the operators or owners of such sites but still would have people trust them and send investment funds to such sites.

From what we know about Bitles, it is obvious that the people behind it do not have online reputation in terms of antecedence in business. This is why no reliable information was provided about the owners. Also, the domain information was hidden with an anonymity service. This should be a red flag for any savvy investor.

An Obscure Cryptocurrency

BitlesThe BTL token which the site claims is its internal currency is associated with another entity, Bitlong. It is not clear what links Bitles has with Bitlong. What is clear however is that the ticker BTL does not belong to Bitles since no two cryptocurrencies can be listed under the same ticker.

Arbitrary Valuation of Token

The Bitles site claims that holders of the cryptocurrency can gain 30% profit monthly. This is rather weird since it is obvious that it is not possible to predict the price movement of any asset. This is especially so with cryptocurrencies known for high volatility.

It gets even more interesting in that the BTL token is valued at $0.301 even though there is no evidence that this token actually exists.

Janis Lacis

BitlesThe CEO and founder of a reputable company should not be some random name without genuine business history. This is clearly the case with Bitles whose founder Janis Lacis who is actively promoting his ponzi scheme while creating the impression that it is a real blockchain project.

An Exchange

According to the site, the company also operates an exchange, BitIEX which is rather odd. You should know that sending your funds to random new exchanges that have not built business reputation is a quick way of losing your money.

“Instantly exchange Bitcoin and other cryptocurrencies in your Bitles account. The platform supports more than 15 exchange directions.”

How Long Has Bitles Been Online?

The site claims that it has been online since 2017. It also claims that its roadmap covers the period from August 2017 to July 2021. However, the link to the whitepaper is shows that it is a blank page. We can therefore conclude that this is not a serious project but possibly a ponzi scheme that makes concerted effort to convince people to invest their funds.

Fraudsters take advantage of the fact that many investors do not conduct due diligence on investment offers. This is why they set up schemes like this.

A Whois search shows that information about the site may have been concealed using an anonymous service.

Bear in mind that you could lose your funds if you invest in random sites such as Bitles. This is just an attempt at presenting a ponzi scheme as a blockchain project.

You can keep abreast of good blockchain projects by joining our Telegram channel for updates. For an investment opportunity that could build your assets through copy trading, check our top recommendation.

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Author: Chris Mharc

Hello, I am Christ Marc, a young crypto enthusiast who has been in the market for a few years, I heard from bitcoin via a few friends and since then I became deeply interesred in this technology, now I am pursuing my studies with the incentive to master tomorrow's technology.

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