You wouldn’t want to invest in Powerbitex without going through this review.

There are thousands of platforms out there that promise to help people make money. Powerbitex is certainly one of them. However, whether you’ll actually make money with this platform is another matter entirely. The SEC’s Investor Alerts and Bulletins of September 15, 2022 says,

“If you are in the market for an investment or investment firm, you may come across sales and marketing materials that describe an investment’s performance or the performance of an investment firm.  You should know that performance information can be presented in many different ways and that past performance does not necessarily predict future results.  Before making a decision, always make sure you understand how any performance claim is calculated and presented – and whether or not the claim seems too good to be true and the investment or professional makes sense for you given your particular circumstances.“

How the platform was found

We came across Powerbitex through a promotion in one of the investment sub-forums. The poster promoted it as a platform where people could invest a minimum of $100 and earn some profit. They also mentioned the platform’s referral program, which pays up to 50% commission.

Here is the post:

“Powerbitex.com is a trading and investment program that promises high profits and returns to investors. Below are their investment plans. minimum investment of $100 in investment plans leveraged 100x deposit option and withdrawal Bitcoin, ethereum, bank transfer The referral commission is equal to half of the referral commission. Warning: “I am neither the admin nor the owner, so therefore, only invest what you can afford to lose.”

When we checked the Powerbitex platform, we discovered that it has about 3 categories in its referral program, and the top one actually pays 50% commission. At least, that was what they claimed.

A look around the website

A perusal of the website shows that Powerbitex is an investment website that claims to help people around the world explore the opportunities in cryptocurrencies. It also stated that it has clients in 150 countries.

What was surprising was a claim of $137 billion in quarterly trading volume. Other features that it claims are fast transactions, minimal fees, and an easy-to-use interface.

It is also said that Powerbitex is secure and has assets under management worth more than $400 million.

A background check

We ran a whois check on the website and discovered that its domain was registered on February 19, 2023. That was just a week ago. It then became obvious that the claims made on the website were suspicious and untenable.

A week-old investment website cannot possibly have access to millions of dollars in AUM. In fact, all the claims made by Powerbitex are things that not many established companies can boast of.

The risk associated with Powerbitex

The company may be gracious in including the fact that you face certain risks by dealing with them. Here is what they wrote:

“The trading of goods and products, real or virtual, as well as virtual currencies, involves significant risk.” Prices can and do fluctuate on any given day. Due to such price fluctuations, you may increase or lose value in your assets at any given moment. Any currency, virtual or not, may be subject to large swings in value and even become worthless. “There is an inherent risk of loss when purchasing, selling, or trading anything on a market.”

What they failed to warn you about is that they’re obviously trying to create the impression that they’re a legitimate company that doesn’t want you to lose your investment.

Why you should be wary of Powerbitex

There are several reasons to avoid investing on this platform. The most prominent is that the owner of the investment platform is not known. On its About Us page, they wrote:

“Our company begins its history in July 2017, when it was developed and registered by our founder, Justin Hance, and his team.”

What should you make of the above statement? Is it not obvious that a $400 million company that couldn’t hire a decent copywriter is incapable of making you money? Moreover, from the domain check we did earlier, the statement that this platform has been around since 2017 is obviously false. It is meant to mislead potential investors into believing that this is a legitimate business.

If they’re lying about when they started operation, you can also bet they’re lying about other things, such as the identity of the owner.

The About Us page continued by stating that:

“As the world’s first, we created a system that helps you to buy, sell, and transfer your funds inside our exchange in a few seconds. You don’t need to wait for blockchain confirmation any more.”

From experience, it is obvious that Powerbitex plagiarized this content from another source. It is important to note that there are many scam sites out there working to lure people into sending them funds. A fraudster could set up dozens of these sites and buy traffic to direct people to them. Those investors who send money to these investment websites lose the money.

Before you use any site for crypto investment, make sure that you do some background checks to ascertain that you’re sending your funds to a reputable organization.

What would happen if you sent your cryptocurrency to Powerbitex?

Despite what they have said on their website, such as this:

“We believe that cryptocurrencies will continue to grow and develop tirelessly, so we offer to invest in them right now because even a very small investment changes the world.”

Powerbitex is not a reliable site to deal with. Never send your digital assets to a shady platform such as this. The most likely outcome of making a deposit on this website is that you won’t be able to withdraw it when you want to.

Investment websites whose owners conceal their identities should not be trusted. When you notice that they’re concealing details, lying, or just plagiarizing their content, it’s enough reason to be wary. When the content is full of grammatical errors, such as in this case, it’s a red flag.

The aim of the owner is just to fool people into making a deposit. Withdrawal is another ballgame.

If you’re interested in a genuine investment platform, check out our recommendation.