The presenting website of this so-called investment firm is simple beyond belief, and does not contain a lot of useful data. It doesn’t mention any parent companies, or legal entities that operate the site, and the Terms of Service document is vague and poorly defined.
Read our Bit Profits Finance review to see how the claims of incredible ROI, high bonuses and word-renowned business are worthless without a license.
The pestering and persuasive nature of these agents’ approach separates them from the usual Sunday afternoon telemarketer. They pressure their victims into depositing through continuous unsolicited phone calls, often late into the night.
Alleged professional financial services are just an ante to soften up the mark, most of which invest just to make the pestering stop. Withdrawals from these firms are never on the table, and getting your money back is impossible without professional help.
Checking the website traffic shows that the majority of victims live in these countries:
The company does not provide any specialized software for the Bit Profits Finance platform. Tracking client investment progress, and facilitating further payment and withdrawals are all handled through the client dashboard.
Although this arrangement does appear sufficient for the task, the software lacks any options you’d come to expect from a trading program. There is some price charting, but it is woefully inadequate for the task. Economic calendars or detailed overview of selected options or instruments are simply not available.
This sort of solution does bring additional risks to the table, as handling financial data is done by insecure means which can lead to data leakages to a 3rd party.
The firm mentions long-term involvement in the global markets, with prominent partnerships for institutional grade investments.
Swindlers don’t have much to show in support of these claims, however, as the web page that should contain this info is broken. So, instead of having a transparent and comprehensive list of investment methods, you get a “Service Unavailable” message.
Registering a Bit Profits Finance login account is simple enough, through a form on the website. The form requires a Bitcoin wallet address for registration, but since it’s not completely functional we still managed to create an account without it.
Investment plans are clearly outlined, and they seemingly offer some incredible returns on investment:
For the inexperienced, these deals seem like a dream come true. Seasoned investors can clearly see that these plans are impossible to achieve.
The amount of fees, spreads, leverage, or commission are not openly discussed anywhere on the website. The Terms of Service document is tiny, and does not disclose any payment mechanism for the company’s services.
A similar situation can be found in the client dashboard as well, which does not state any deposit or withdrawal fees whatsoever, which is in complete contrast to the regulatory requirements on transparency. It is also an important weapon for the con artists, since they can invent any amount that prevents a client withdrawal.
To sweeten the deal, the company offers a $10 fixed bonus for every new account. A referral plan is also available and the recruiter may earn a 5% commission for each new recruit. These are allegedly added to the ROI of every additional investment plan.
While the withdrawal policy is not clearly explained, there still is some info on how withdrawals function. Allegedly, the clients must upload their Bitcoin address to the site. Any profits will be credited automatically to this address 5 minutes after an investment plan has expired.
Since we’re dealing with an unregulated investment firm, they are under no obligation to provide Bit Profits Finance withdrawal. Since every payment is handled through cryptocurrency transactions, it is difficult to recover your assets without the support of a legal professional.
Even though the company claims to be legally registered in multiple jurisdictions, none of these claims stand up to any scrutiny. The trading features that the company has displayed are rock bottom, and only serve to reinforce a feeling of confidence with investors.
With all payments being cryptocurrency-related, it’s difficult to recover your assets without legal support. If you need help in the matter, you may rely on our experts. Contact us via the live chat, and book your first free consultation today!
It is a dangerous unlicensed cryptocurrency investment firm that promises much, and delivers nothing.
This investment firm is a complete scam, and they rely on lies and deceit to get funding from their clients.
It’s impossible to get your money out of the firm without the support of our legal experts. Contact us today via the live chat in order to start your chargeback process.
The post Bit Profits Finance Review – You Won’t See Any Profits With This Scam Firm appeared first on Global Fraud Protection.
