There are many sites set up to make people believe that making profit from crypto mining and trading is easy. These create the impression that cryptocurrencies are a sure path to wealth.
The fear of missing out has been leveraged on scammers to build a sub industry of sites that are dedicated to stealing funds from people.
The patterns is almost always the same in that these sites invite investors to make deposits promising extreme profits but down the line they stop paying the promised returns. Some never pay at all especially when the investor makes huge deposits.
The essence of reviews is to teach people that there is no sure path to wealth through cryptocurrencies. All sites that claim they could pay big profits in a short time are basically scams waiting to the opportunity to steal investors’ funds.
What is BitWiden?
Bitwiden.com is a high yield investment program that registered a domain on January 20, 2019. The site stated that it is involved in trading and mining of cryptocurrencies. It claimed that it has found some magic formula that makes sure that it makes huge profits from these activities.
According to BitWiden,
“We have designed a crypto investment module that offers investment opportunity in the fast growing crypto market.”
This is not debatable because there are opportunities to earn cryptocurrencies through these means. But its claim that it has a special technique is doubtful.
“We have developed a cutting edge learning algorithm system that applies well proven trading techniques to crypto asset trading and mining and are offering this platform to discerning investors as a low entry investment portfolio with sustained return on investment over a fixed period.”
Everyone that is versed in crypto mining is aware that such claims are unfounded because the potentials and possibilities in crypto mining is mathematically provable.
In fact as at the time of filing this report, crypto mining was not half as profitable as this site and many others claim.
No Evidence of Experince and Investment Capital
For crypto trading, it takes a highly skilled trader that knows how not to take high risks to make consistent profit. In any case for the trader to make modest and remarkable profit, they need substantial trading capital.
There is no indication that BitWiden has substantial capital even though it claims that it has been in operation for some time:
“We have been in the business of financial advisory for over a decade in which time we have assisted quite a number of blue chip organizations and high net worth individuals with making the right big business/investment decisions.”
Available evidence shows that BitWiden was registered on January 30, 2019. So the company showed no evidence that it has the sort of experience it claimed. This is a very suspicious and unethical behavior and points to the suspicion that people behind this site are unreliable.
The summary of the site is that it is a ploy to entice investors to made investment deposits even though a little research should show the investor that the possibility of losing their money is high.
A Wise Choice?
BitWiden encourages investors to make “a wise choice” by investing with the company. In view of the forgoing this is definitely not a good investment choice especially when we look critically at the site and all it offers.
Scam sites routinely demand trust from its investors in the quest to convince them that their funds won’t be lost. According to BitWiden:
“We carry a vision that is set to fulfill all your financial goals… from start to finish; we are the firm to trust when it comes to crypto investments!”
Its investment plans and overview shows evidence to the contrary.
Scam sites have the singular aim of attracting many investors. How better could they accomplish this than by offering profits that the investors won’t turn down?
This is why all high yield investment programs are scams. The fact is that high interest beyond market realities are unrealistic and unsustainable and have the purpose of stealing investors’ deposits down the line.
BitWiden Investment Plans
BitWiden has 3 Plans:
The basic plan offers a massive 200% for a 40 day investment. 5% interest daily, this plan would easily double your investment in 20 days but will it? The minimum deposit is $20 while the maximum is $1000.
Scam sites make money because they know the way people think. There are many that won’t mind sending $20 to try out the system since they can afford to lose it.
However the thieves gains because 1000 people sending $20 makes them $20,000. This is why you must never send money to sites that have been proven to be fraudulent.
The other plans give total returns of 360% and 630% for 60 and 90 days investments respectively asking for investments of up to $200,000.
Strangers Soliciting for Investment
Scam sites are getting bold and more daring these days because it has become obvious that with a fancy site and promise of huge profits there are many people that’ll not cross-check those behind the site before sending funds out of greed.
The fact that the owners of BitWiden are not known is enough disincentives to make people wary of this scam. Sending funds to this site would result in losses.
The best scam sites such as BitWiden offer is paying a few early investors of small funds to encourage their affiliates to bring in more people. However anyone that sends in substantial funds lose them immediate. In any case, 40, 60 and 90 days are long window periods for a scam to generate enough funds not to pay anything at all, even to the small investors.
When a site offers high profits that are not in consonant to the market realities, you are likely dealing with a scam.
Sending your funds to a site like this would result in a loss. For a safer investment, check this recommendation.
Have you experience with Bitwiden? Send in your report in the comment box below.