You’ve probably come across a site that claims that you could earn a lot of money by making a simple investment such as Powerbtc. You would wonder if this is a good deal that can make you money.
There are many online with the intention of making profit. The problem is that they do not know what it takes to accomplish this, so it is easy to lose money even though the intention was to make profit.
To avoid this scenario, it is important to research on any investment proposals that come your way. According to Securities and Exchange Commission,
“Fraudsters rely on the sad truth that many people simply don’t bother to investigate before they invest. It’s not enough to ask a promoter for more information or for references – fraudsters have no incentive to set you straight. Savvy investors take the time to do their own independent research.”
What is PowerBTC?
This is a company that claims that it has been involved in the cryptocurency ecosystem in 2007 even though Bitcoin had not been invented then. The company claims that it anticipated the challenges that people who wanted to get involved in the industry would encounter.
According to the site,
“We took this need into account along with our own personal ambition to develop an integrated platform that was able to both satisfy the needs of investors and meet their expectations with sufficient returns on their investments. Since then, we have maintained our focus as a company that looks towards the future and transforms the opportunities offered to our valued clients.”
It further claimed that it is registered in the UK and therefore is a legitimate business that has been helping its clients to meet their financial objectives.
How Reliable is PowerBTC?
The first statement that:
“Our roots go back to 2007 – right around the beginning of the revolution that would become known today as Bitcoin” is very doubtful. No one was thinking about Bitcoin in 2007 because no one knew that it would be invented.”
You have to understand that even in the early days after Bitcoin was invented, no one thought it had high prospect as an investment instrument. Users thought it would just become another digital currency that would be used for the transfer of values.
The assertion by PowerBTC that it was working with Bitcoin prior to its invention casts doubt on the site. Using it for any investment is absolutely a risk.
Identifying a site that isn’t original is not really difficult if you’re an experienced investor. For us at Cryptoinfowatch, years of reviewing scam sites makes it easy for us to identify statements and content that were plagiarized from other sites.
The claim by Powerbtc that they’ve been around since 2007 was plagiarized from another scam site which has been pulled down. It was obvious to us that the statement isn’t just weird but copy-pasted from another source.
We are convinced that most of the other content from the site were generated in a similar manner. We scanned the statement under “UK Registered Company” and saw that it was also copied from the same exit scam, Crypto-binary.biz.
We are of the opinion that it could be the same fraudsters behind both scams.
High Yield Investment
120 percent after 24 hours is just impossible ROI to get from any genuine investment. Scammers lure potential victims with high profit because they’re aware that there are many people that would not resist such tempting offers.
The ROI promised by PowerBTC shows that the site is bait set up to lure many to part with their money. The outcome of such investments is best left to imagination. Believing that this site would pay you such profit is similar to the belief that someone would double your investment for you.
Crypto scammers depend on the fact that many people are ignorant of the digital currency ecosystem and how Bitcoin works. There are many that think that it is a currency that is generated easily through computers. This is misinformation that scams thrive on.
Scam sites use fake data to deceive people. You can see that there are data showing the last withdrawn and deposited amounts by users. If you believe this is real, you could fall for this and similar scams.
Interestingly, you could see that the company claimed that someone actually made a withdrawal of $1 million. Considering that this is a site that lied about everything it does, lied about how long it has been in business and more. Why should anyone trust it with their funds?
A Whois search shows that the domain was registered in August 2019, but the site claims that it has been online more than 2 years.
Genuine investment sites do not promise what they cannot do. They are not run by faceless individuals hiding behind the web to steal from people.
Before sending your funds to a site, make sure that it is regulated by the appropriate agency and has an online reputation. Sending funds to random sites such as Powerbtc is a quick way of losing your money. For the investment site that we recommend, check here.
What is your experience with Powerbtc? Please share them using the comment box below.