What is Bitlake.biz? Is Bitlake Scam or Legit?
If you are looking for information concerning Bitlake.biz then you have come to the right place. This is the latest brand looking for Bitcoin investors to deposit their currencies and watch as it grows on a daily basis. It promises high profits and easy processing of payments. The question is whether Bitlake.biz is a scam or a genuine online money making business. The allure of making easy money on the sides or as a full-time engagement sees many people fall to online scams. This happens to be the same case with bitlake.biz. Let’t start our Bitlake review as given below.
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What does Bitlake.biz offer?
The site promises to earn a profit for deposited Bitcoins on a daily basis. All you have to do is create an account and deposit bitcoins in the account. There are three plans to work with each with different minimum deposits and different profit percentages you can earn the least you can earn as profit is 10% of your investment. The minimum deposit for the lowest plan is 0.001 BTC. You can also withdraw on a daily basis and the withdrawals are all instant.
Why we do not recommend it?
From the outset, this all looks like a genuinely easy way to earn money from your Bitcoins. By professing to be asset managers and investors in the different areas of crypto currency mining, the people behind bitlake.biz create a genuine business look. They even have on the site a certificate of registration from the UK and leave a physical address available. The site also comes with a security certificate for privacy. All these are just signs to boost your confidence in them.
BitLake is actually a High Yield Investment Program (HYIP) which is a form of Ponzi scheme. This is where investors are promised high returns that cannot be sustained since money from new investors is used to pay off the initial ones. It can work for a while but after some, newer investors dry up and there is no money to make payments. This is when the people behind the organization make off with the money invested in addition to their commission. There are a number of red flags about BitLake including:
– The high rewards promised with no clear investment method. Whenever you are promised to earn forever it is a red flag that the deal is too good especially when the profits are made daily. It is a strategy to woo newer investors seeking for an easy way to make quick cash.
-The affiliate program offered where you can get use referral links to bring more people to the program with the promise of earning from them follows the strategy of many such pyramid schemes. -While the company has freely supplied its information on physical location, its owners’ information and website identity details have been hidden using an anonymous service. BitLake has only been functional for 56 days and there is no evidence to support the sites claim of having been in the technology and crypto currency business in the past. The site has also been registered with a short life expectancy typical with many scams. -Finally, the rules section show the business is uninsured and unregulated by any law anywhere. The owners deserve the right to change terms with no notice.
Everything about Bitlake.biz indicates another get rich money making scam that you should keep off to avoid losing your investment.
As we said before, Bitlake.biz is a ponzi scheme which will be collapse very soon. So, We recommend you to stay away from this site. If you are looking for good companies to make money online then you can find list of those companies by clicking this link https://onlineincomeresources.com/legitimate-work-at-home-opportunities
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if you have any question about Bitlake or want to ask about any other companies, then please feel free to ask by dropping your comment below. We are happy to help you.