Bitcoin and banking will never be two peas in a pod although the cryptocurrency does allow anyone in the world to become their own bank. For those people who invested in BitcoinCryptoBank, however, they will be facing financial losses.
Also read: HaoBTC Announces BTC-CNY Exchange Platform
BitcoinCryptoBank Is A Black Hole For Funds
Although the name itself suggests as much, BitcoinCryptoBank is not something Bitcoin users should invest in. In fact, any service offering bank-related services should not be trusted in the Bitcoin world, After all, why would anyone need a bank in the Bitcoin world to begin with? People can manage their own funds perfectly fine.
It has to be said, the BitcoinCryptoBank website looks pretty decent, and guarantees no risks for its investors. That seems rather strange, considering there are nothing but risks when anyone invests their Bitcoin in a different company., as there is no guarantee anyone will get their money back.
Moreover, the platform promises very high promises for all investors, starting at 2.2% daily profit, guaranteed. Depending on the amount someone was to invest, these daily profits would go up to as much as 3.2%. Additionally, there is an option to withdraw funds on a 24/7 basis, but no one should take that statement seriously.
According to the website statistics, over 1,000 Bitcoin has been invested into BitcoinCryptoBank, and nearly half of the funds invested has been withdrawn. Anyone can fake these statistics, though, and none should give them any credit. No one can guarantee a fixed daily return, let alone a company that claims to be a bank of sorts.
One Reddit user pointed out how he invested some bitcoins in BitcoinCryptoBank and is not seeing any funds at all. With a balance remaining at zero, the company is not even trying to seem legitimate, as there are plenty of scripts which will update balances automatically to keep up appearances. Novice users appear to get tricked easily when it comes to these obvious scams, and no one should put any money into programs that claim to offer unrealistic services.
Source: Reddit
If you liked this article follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.
