The number of Bitcoin companies claiming to be legitimate is alarmingly high. It is hardly a surprise to find out that more than half of these “enterprises” are outright scams. Luxury Shares, a company trying to do things rather differently, is one of these scam companies that will steal your money. They even accept Litecoin, Dogecoin, and Ethereum on top of Bitcoin.

Don’t Be Fooled By Luxury Shares’ Website

Conning most cryptocurrency enthusiasts requires little more than a somewhat professional website. Luxury Shares certainly offers that, as the black-and-gold themed design will attract quite a bit of attention. The company, however, is far from legitimate, as what they claim to offer is virtually impossible.

Several investment packages are available to users, offering between 2.5% and 40% daily payouts. Users can only invest specific amounts for every package, as there are earning limits put in place. All plans will also expire automatically as they reach their maximum payout threshold.

Even though the company lists recent payouts, it is doubtful that these are real statistics. It is not difficult to create a bunch of fake users and to claim that the company has paid them out. More importantly, the payment processor is obscured, leaving potential investors none the wiser regarding Luxury Shares’ liquidity.

As is always the case with these Bitcoin HYIP Ponzis, larger investment amounts tend to award more money over a longer period. Users can turn US$100 into US$200 at 2.5% per day, which expires after a 200% return has been achieved. That means that investors are looking at a 40-day ROI and an 80-day payout completion schedule. It is doubtful whether Luxury Shares will be around 40 days from now, though.

Any self-respecting Bitcoin scam will offer an affiliate program as well. Luxury Shares is no different, as they provide users as much as 5%. Do keep in mind, though, that this bonus only counts for cash wallet purchases. Referral earnings or commission wallet ad pack purchases will not result in additional funds for the recruiter.

Looking over the WHOIS data, it remains unclear who registered the domain name. Additionally, there is no company information to be found on the website. This further indicates that Luxury Shares is nothing more than a scam, which should be avoided at all costs. No evidence can be found regarding this enterprise having legitimate intentions.

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.