There are many sites on the internet that promise quick paths to wealth, especially since the decentralized networks became part of the financial consideration of many people. In this post, we are going to look at a new investment site Bitsload which owns the domain with the same name but with a dot co dot uk extension.
Granted, there are many investors that have become stupendously rich after making Bitcoin investments. The fact that the digital currency industry has seen a lot of interest has led to a high demand on some of the tokens which have appreciated considerably in recent years.There are many others that missed out on the Bitcoin gold rush who have resorted to other means to acquire crypto wealth, sometimes legitimately, but at other times, at the expense of other investors. Click To Tweet
This is why it is of essence that you carefully study any investment site with the view to make sure that your funds will be adequately invested, and most importantly, that you would get your money back with the promised returns when you need it, or when the tenure of the investment expires.
What is Bitsload?
Bitsload claims to be a forex trading company that is registered in the United Kingdom. There are many such companies that seemingly operate out of that country. However, even though some of these were legitimately registered, it is of importance not be carried away by the assertions on this site since business registration is not a proof of legitimacy of operation.
Bitsload claims to be a young and promising company that has been involved in the investment sphere for some years. It claims that it made foray into the investment sphere since 2009.
Considering that this was just a year after Bitcoin was invented, it is rather surprising that the company is not well-known ten years later. So we decided to run a background check on the veracity of these claims.
Age of Domain
A Whois search shows that the domain of the site was registered on April 2, 2019. This is barely three months old unless there is something that the company is not telling us.
This means that this is not a 10 year old company but a newly set up site that hopes to lure some gullible investors with tales of being an established company.
What is the Implication of this?
Sites that claim what they are not are usually run by scam artists. Their need to impress the visitors stems from the fact that every online investor knows that older companies are easier to trust because they have proven to some extent that they have the ability to manage their businesses well and have built online reputation.
Even though this is not enough criteria to trust a website, especially an investment website, it gives an investor some level of confidence that a site would not be pulled down a day after they have been sent funds.
However, this cannot be said of Bitsload because it is a site run by some dishonest individuals who will most likely steal funds sent by the investor.
High Yield Investment Scam
Every experience investor is aware that there are realistic ROI that is expected from a genuine business because there are many criteria to put into consideration before setting profits, but not fraudsters and scammers.
They are aware that the quickest way to appeal to your quest for profit is by promising you huge returns on your investment. You can be sure of one thing, you’ll end up losing money if you invest with such sites as Bitsload.
The investment plans of the company ranges from 120 percent in just 24 hours to 300 percent in 4 days. One question every investor has to ask themselves is how Bitsload hopes to make all that money in such a short time.
In reality, they won’t. What the people behind the site are banking on is that some uninformed or really greedy individuals would be enticed to but the investment plans.
The best case scenario is that they may pay the small investors such as those that made deposits of $50 to $100 hoping that they would be tempted to make bigger deposits. If they do, their funds would be lost.
Another scenario is that people who buy these plans would be asked to make more deposits to enable withdrawal. In any case, the objective is to make sure that there are more deposits than withdrawals until when the scammers have made enough money without attracting much scrutiny from law enforcement agencies.
Scam internet investment companies such as Bitsload generally operate as ponzi in which older investors are encouraged to publicize the site by paying them with funds sent in by new investors. In most cases, those who are paid are the small depositors. Those that made substantial deposits never get anything.
Fake Deposit and Withdrawal Table
This is a common feature of scam investment sites. Their target is to create the impression that there are many active participants who have bought the investment packages.
Also they want you to believe that deposits and withdrawals work very well, but in reality, those are all faked numbers and users. Even the testimonials are fake, so do not believe anything you read on the Bitsload site.
Fake Investment Management Team
On the Bitsload website, it listed its Investment Manager as Kathy Abrams. This is obviously a fake identity as seen from the image of the lady. A reverse image search may have been difficult due to the size of the image, yet we found the original image from a stock photo website.
Bitsload used stock photos as their management team because no scammer would use their real identities knowing that their business is not a legitimate one.
Bitsload is an active scam that would shut down as soon as it has stolen the funds of many investors. This is why you should avoid investment sites such as this. In fact, NEVER invest in any random site that you come across on the web irrespective of the assurances they give you.
What is your experience with Bitsload? Please share with us using the comment box below.