Scammers are working really hard to impress potential investors. They do a lot to accomplish this even though their options are limited since many investors can see through their wiles. However, the internet is a huge market and the prospect of fooling some uninformed person is high.
This is why despite the proliferation of scams advertising the same stale tricks, you still find new scam sites popping up daily such as Bitplaza.biz. These tricks are mostly limited to high interest investment site that claim to mine bitcoins or altcoins and those that claim to trade them.
Whatever they claim, scam crypto sites have one objective, which is to gain traffic and convert same to people making deposits with the hope that they would reap unrealistic reward. There is no other way that these sites attract people except through appeal to individuals’ greed.
So if you’re one of those that believe in the no-work wealth, you’d likely fall for the trick of scammers such as those behind Bitplaza.biz.
What is Bitplaza?
According to the website,
“Our company offers trust assets management of the highest quality on the basis of foreign exchange and profitable trade through Bitcoin exchanges. There is no other worldwide financial market that can guarantee a daily ability to generate constant profit with the large price swings of Bitcoin”.
Interestingly, the site further stated that its proposed modalities would be acceptable to anyone that uses cryptocurrencies since they can make profits that could be withdrawn immediately. This is the claim of most scam bitcoin and crypto mining sites. In reality, people who make deposits to sites such as Bitplaza kick themselves later on when they realize that their funds are stuck because the operators of such sites have no intention of releasing them.
Common scenario is that people who make small deposits are paid back if the platform is new. The scammers are aware that people would want to check the reliability of the system with little amounts such as $2o, so they pay such wallets hoping that they would trust them to pay bigger deposits.
There are instances when scam sites have paid users two or three times prompting them to make huge deposits of say $1000. This is when they realize they’ve been fool through enticement and greed.
What Bitplaza Promises its Investors
Like most scam Bitcoin investment sites, Bitplaza .lures its users with promises of huge profits. The purpose is to make sure that the prospect with the investment package seems so good that the potential investor finds it irresistible.
Bitplaza has three investment plans starting with a forever plan that yields 10% daily for the investor. There is another that promises to pay 600% after 30 days and yet another promising 1500% after 60 days.
It is obvious that no legitimate business would pay profit that high. Even 10 percent daily is not sustainable talk less 600% which is 20% daily. These are clear indications that the site’s aim is to fool people by luring them with unrealistic profit.
Is Bitplaza A Legitimate Business
It is important to distinguish between a registered business and a legitimate one. These days, it is a simple matter to register an online business with the intention of using it to scam people. This is possible because fraudsters and cybercriminals are aware that tracking them is an onerous assignment, so they take advantage of the unregulated crypto space to steal people’s funds.
Ordinarily, apart from mandatory registration of the business, entities wishing to render financial services as brokers should get authorization from relevant financial regulatory body such as FSA.
This is why you should not be fooled with the exhibition of registration certificates such as is available on the Bitplaza.biz website. This is meant to convince the investor that this is a legitimate investment site.
Bear in mind that you can rarely get a legitimate crypto investment site. Most of the sites claiming they can double your investment in days are scammers.
Bitplaza claims to be located at 26 Fairview Road, London, UK, N15 6BL. However, there is no evidence that this is not just another virtual office used as mere contact by other new businesses.
The company claims to have been online for 21 days. This means that this is a business tha have behind it people who may be experienced in Bitcoin scams since such fraudsters move from scam to scam.
The company itself was registered in January 2019 apparently with the intention to be used as a front for the Bitplaza bitcoin scam. An online search for the registered director, Baron Phyllis could not show that this is a real person. These are the signs that you should avoid making deposits to this site.
All the claims made on the site such as having nearly 400,000 members and deposits of 80,000BTC are just lies that should be ignored.
Bitplaza is one of those scam sites that target people who know little about the crypto space. Earning bitcoin and other cryptocurrencies doesn’t happen through some sort of magical overnight doubling and tripling of your assets but through careful planning. Your best bet is learning how to trade or using your skills to earn the coins.
If you want a sure way of earning crypto, invest in this social trading platform and learn from others.
What experience have you had with Bitplaza, please share your experience in the comment box below.