Any company in the bitcoin world claiming to make investments on behalf of its users needs to be treated with a lot of skepticism. BitsHedge claim they will allow users to earn money as the company trades different assets on behalf of their customers. It is evident this “investment scheme” will take off with people’s money sooner rather than later. Stay away from this company if you do not want to have your money stolen.
BitsHedge Is An Investment Ponzi Scheme
While it is commendable BitsHedge lists some of their team members on the front page, it is doubtful any of these individuals are even connected to the company. It is not uncommon for investment scams to take random images off the internet and use them to create fake company staffer profiles. Since all of the WHOIS information for the domain name is protected, it is unclear if any of those portfolio managers are actively in control of running the business.
BitsHedge claims investors can simply deposit money and earn a lot of profit without any further involvement. The company will execute profitable trades on behalf of all investors, a process that occurs around the clock. Putting your money into the hands of a team of professionals may sound like a great idea, even though it will result in losing money sooner or later.
Rest assured there will be no investments on behalf of BitsHedge users whatsoever. Instead, the company will only pay out investors as long as new funds keeps trickling in. Once the revenue dries up, payouts will be either delayed or halted completely. A few lucky people might be able to get their money out, yet the vast majority of investors will lose their funds entirely. Trusting scam companies like BitsHedge is the same as throwing your bitcoins out of the window, so to speak.
Different investment plans are promoted by BitsHedge, ranging from 5% daily for 25 days to 4% daily for 40 days and 3% daily for the lifetime of the account. The required investment amounts are rather small, though, which will persuade a lot of users to give this company a try. Even investing US$10 worth of bitcoin is a bad idea, as there is no guarantee of getting the money back. It will take at least 20 days for investors to break even, assuming they can even withdraw their money at their leisure.
On the BitsHedge website, we also find a document claiming how this company is officially incorporated in Belize. Rest assured this document looks extremely fake, especially when considering how it mentions the date of July 2015. The domain name for this website wasn’t registered until 18 months later, which only confirms the document of incorporation needs to be taken with a large bucket of salt.
Last but not least, the BitsHedge platform uses another HYIP template advertising the use of Bitcoin, Payeer, and Perfect Money as payment options. It appears that whoever is running this platform could not be bothered to modify the template code whatsoever, which makes the whole platform seem less professional already. Everyone with a semi-functional brain can see this company should not be trusted with one’s money.
If you liked this article, follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin, cryptocurrency, and technology news.