So you’re looking to earn good extra money and want to invest in digital currencies because you know it’s future but you don’t actually really know so much about how these cryptocurrencies work, so you try to find someone that does know and help you with your investments.
Then, you find online this incredible company called bitrise.biz an online enterprise that exchanges bitcoins directly for profits within days and promises 10-30% of profits daily. It sounds really good, doesn’t it? Then you check online and find out its Facebook page has lots of likes and comments, the website itself has lots of comments, etc… You think, oh maybe it’s a good idea… Well, it’s NOT A GOOD IDEA.
This website bitrise.biz is a business that promises impossible profits. It doesn’t matter how good an enterprise is, even with the volatility of cryptocurrencies, it’s completely impossible to make this profits every day. The fact is that this company bitrise.biz is a SCAM.
How does bitrise.biz scam work?
Bitrise is a ghost company that has actually no legitimacy as an investment services provider. Actually, if you look close into their website, what they use as a validation is a “tax registration” from the UK.
But this only works for taxes it’s not a license or any kind of permit that certificates the company. Actually, they’re not registered in the UK’s FCA which is the institution that validates this kind of business. And, if you check a little bit deeper you’ll find out that the tax registration is actually from a few days ago, pretty suspicious by the time.
So what is exactly what they’re hiding? Well, it’s called Ponzi scheme and is a kind of pyramidal system that ends up crashing sooner or later if the owners don’t decide to run away with the money. What makes this scam system so easy to apply is that, at first, it actually works; the company keeps recruiting new investors that put their real money into the projects in order to get back profits.
But the profits are paid with the money of the further investors, so when the profits are too big, the system is simply unsustainable. Nevertheless, it’s more common that the owners escape with the money first or they get caught for fraud.
So, can you make money out of it or not?
So, in conclusion, yes, at first you can make money out of bitrise.biz but, in case it’s not very clear, bitrise.biz does NOT give you profits out of cryptocurrency exchange. They actually don’t run that business, they just recruit people. The money any investor will get from them is from another investor that thinks they’re investing, another investor that’s being SCAMMED!
If bitrise.biz were actually running an investment and cryptocurrency exchange business it would be illegal because they’re NOT registered at the FCA. But they’re not doing that, that’s why they can run the scam for a while, until it collapses. We totally recommend avoiding it, but if you’re planning on investing, make sure to get out before the bomb explodes and remember the money comes from a real FRAUD.
Bitrise.biz are now suspended.