Everyone wants to be rich. If not everyone, then most people are desirous to be rich. This is what Genuine Bitcoin Multiplier seems to want to accomplish in its service – making you rich. In fact, the site claims that if you send your bitcoins to them, the volume is increased and sent back to you. How about that?
Is it really possible that this site and others like it would help you make money by increasing the volume of bitcoins that you hold? Before you use this service, it is advisable to read through this review to understand the intent and purpose of multipliers which are becoming quite common in the industry.
What is Genuine Bitcoin Multiplier?
This site claims to be an investment company that is involved in trading of forex and cryptocurrencies, so unlike many doublers that claim that their scripts can double or increase the volume of your coins, this site pretends that your funds are invested and used to make profit for you and the company.
It claims to be the best investment option for users and buttressed this by the fact that it has been in business since 2016. Granted that genuine businesses are the only ones that serve their clients that long in the crypto space we conducted detailed background checks on the site.
It enjoins the investors to bear in mind that they would make more profit if they invested more funds, claiming that their investors have been making profit because the company has a group of experienced professionals involved in management of its financial assets.
Is this A Reliable Investment Platform?
We have continuously warned investors to avoid high yield investment platforms that promise them huge profits because the rewards are not commensurate to what is realistically obtainable in the industry.
In practice, multipliers do not work irrespective of how the owners claim they make money. The fact that they encourage you to send funds to their sites to be increased, doubled or multiplied shows that their intention is to use the fund to pay others or themselves. The implication of this is that you would lose your cryptocurrencies to them down the line.
A Whois search shows that the domain genuinebitcoinmultiplier.com was registered on April 15, 2017 and not 2016 as the company claimed. Though a difference of one year, what we have realized is that dishonest claims are a pointer to scam sites.
Interestingly, one of the reasons why the company claims they are reliable is blockchain transactions which they claim to have made to clients.
Unfortunately, there is no way to prove that they own the originating wallets. As far as we could see, the payments could have been made to anyone or to any random wallets created by the owners of the site.
Who is Behind the Multiplier?
According to the About Us page of the site:
“Genuine Bitcoin Multiplier was founded in April 2017 by group of professional traders and club of hackers and registered as real company on April 2017 in Frankfurt. We are a serious company and we are here for a long time. We use only “Genuine Bitcoin Multiplier” domain name.”
It went further to state that the customer can reach their support through email. However, even though it claimed that the business was registered in Frankfurt, it never mentioned the physical location where they operate.
This means that anyone dealing with this site is actually risking their funds with a company that cannot be located at any location.
There is no evidence that it was registered in Frankfurt since they did not provide a registration number and certificate. So your chance of getting your money back if something goes wrong is nil.
The Investment Plans
One of the clear evidences that you are dealing with a scam with Genuine Bitcoin Multiplier is their investment plans. The site presented 3 plans for investment: the Silver, Gold and Diamond plans with each promising ROI that is more than double the invested volume of bitcoins in a short time.
For instance, in the Silver plan, the site claimed,
“Invest Bitcoins and get Multiply 50X the amount in 12 hours! The minimum invest is 0.02 BTC and maximum is 0.49 BTC,
For Example , Invest 0.02 btc Return 0.5 btc after 12 hours!”
Now this is the lowest plan and the reality is that it is practically impossible to accomplish that anywhere. It is obvious that the intention of the people behind the site is to steal the funds sent to them.
This is why you must never be tempted to send your bitcoins to any random site just because it claims to pay a high ROI.
The phony claims were even amplified in other plans such as the Gold and Diamond. The Diamond plan stated:
“Invest Bitcoins and get Multiply 100X the amount in 3 hour! The minimum invest is 10 BTC and maximum is 100 BTC, For Example , Invest 10 btc Return 1000 btc after 3 hour!”
Every experience investor would know this is a scam site. Even if a multiplier claims that they can give you 1 percent in an hour, it could still be a scam talk less what this site is promising their investors.
The idea behind it is that they are aware people are eager to make money without putting in much effort. So they would appeal to the greed of individuals to steal their bitcoins.
It is important that you learn how to keep your cryptocurrencies safe by investing in only legitimate sites. Bear in mind that there are many malicious actors ready to steal your coins.
There is no single site that claims they can multiply your bitcoins that actually does. If it is possible to multiply or double your bitcoins through any process, we all would be millionaires.
You have to understand that the owners of these sites control the flow of funds and would receive the funds of many people, shut down and exit. You’d have no way of getting back your funds.
Trying out investment sites like this is even worse than gambling your coins away because in gambling, there is a small chance that you may win, but with sites like Genuine Bitcoin Multiplier, you would only lose.
It is unfortunate that there are people who believe they could earn bitcoins through sites like this. We advise that you invest in genuine sites where you have good chances of making profit.
A site such as our top recommendation will help you accomplish that. There are other sites where you can invest your Bitcoins for profit or trade them.
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