There are many sites coming on live just to solicit for investment from the public taking advantage of the coin revolution that has been sweeping the financial sector. One of such is Bitstadium, which promises investors substantial returns on their investments.
This trend has become an albatross of sorts on the cryptocurrency community because there are many investors who do not know the first thing about securing their cryptocurrencies. This has led to losses amounting to billions of dollars.
This is why it is important that every investor should conduct due diligence before sending their digital assets to any site they encounter online. The fact is that there are few sites that are genuine as far as crypto investment is concerned.
What is Bitstadium Biz?
The site stated that the company offers an assets management service which is highly profitable to its investors. Apparently registered in the UK with operational address located in London, it maintains that its profits are from trades carried out with exchanges that trade digital assets such as Bitcoin.
It claims that its activities guarantee a worldwide passive income, in that they are accessible to everyone no matter their location. It also has assurance of consistent profit mainly due to large swings in the price of Bitcoin.
They further claim that the essence of their investment packages is to give their customers the opportunity to have their money work for them.
Is this A Reliable Site?
Inasmuch as the fact that cryptocurrencies are known for their volatility, there have not been consistent ways of making profits and anyone that claims they do so are merely trying to get people’s money.
There are many tests with which an investor could identify shady sites. We made the Bitztadium site pass through some of the most basic one and it failed them all.
This is not surprising especially considering that the ROI it promises its investors is meant to lure them into making deposits mainly due to emotional need for quick profit.
Another High Yield Business
According to the Securities and Exchange Commission,
“If it sounds too good to be true, it is. Compare promised yields with current returns on well-known stock indexes. Any investment opportunity that claims you’ll get substantially more could be highly risky. And that means you might lose money.”
When you consider that Bitstadium promises to yields of between 300 percent in a month and 2000 percent in two months, you would agree with me that this is a very risky site to put your funds in. In fact, it is a sure way of losing your funds.
No genuine investment company would give you guarantees without clear disclaimer to make you aware of the risks involved. If a site has intention to deceive the users, it usually appeals to emotions such as greed.
Fake Proof of Payment
The main reason why Bitcoin is successful is the way it works. The technology behind it makes it easy for people to send and receive payments without intermediaries.
This is possible because the open ledger system is transparent, making it possible to know when funds have been sent and received by any party.
In view of the above, investment sites can easily prove when they sent funds. Users of such sites can also verify if investors are paid or not. However, this is not the case with Bitstadium.
We used the transaction IDs provided in the latest deposit and withdrawal section but found out that all the claims of withdrawals are “unconfirmed transactions”.
Obviously, the owners of the site are aware that many users do not cross-check the details of the information they got on a site to verify them.
This confirms what is written on the SEC website. Please bear in mind that fraudsters are aware that not many people know the details of how Bitcoin works. So they take advantage of this fact to deceive people.
This is a reason why you should never invest in a scheme you know nothing about. Always ask questions and conduct your own research.
According to the regulatory agency:
“SEC and CFTC staff have recently observed investment scams where fraudsters tout digital asset or “cryptocurrency” advisory and trading businesses. In some cases, the fraudsters claim to invest customers’ funds in proprietary crypto trading systems or in “mining” farms. The fraudsters promise high guaranteed returns (for example, 20-50%) with little or no risk.”
When you have a site offering you returns that are higher than sensible, you should know there is no way they could generate such profits. If it were possible, they wouldn’t share it with you. Also, if it is possible, everyone would be rich.
Before you make any investments on the internet or off, be sure that you are well-informed knowing that there are many scams out there ready to steal your funds. Losing your cryptocurrencies could be final and the effect devastating.
We provide this information based on experience and research, so if we classify an investment site a scam, you would do well to avoid it. Nevertheless, there is a site that we recommend where you could grow your assets safely by copying what experts do. However, bear in mind that every investment bears its own risks.
You could check here for our top recommendation. If you have views on this review, please share them using the comment box and do let us know of any new schemes you wan t us to review using the contact page.