Bitplaza.biz Review: Legit or scam?
If you are interested in earning some additional money without putting much effort and at the comfort at your home, then you must be looking for a legit company that can pay you. You must have come across several ways of earning money online that require you to take surveys, click on ads, watch videos etc. These at least require you to invest some amount of your time in them. But, if you have heard of crypto currency then, you must be knowing that it is the easiest way of earning money, although it involves some risk.
Bitpalza.biz is a site that promises to give you a certain fixed amount of profit. It is yet another platform that offers crypto currency and claims that it is the most promising investment platform.
There are other similar sites on the internet working to scam people. The internet is full of scam site and it is important that you must read the review first before working on any site. The sites are Noneey4Click, Bitfinity, Money4Click, Xort, Supermarketings, Poop, Norks, Alpzk and Justopros.
Let’s see if it really the safest and most promising platform to invest our money in? Or is it another scam site ready to eat out money. Without further ado, let’s jump into the review!
What is Bitplaza all about?
Bitplaza.biz is mainly into crypto currency mining and they say that they are the most promising investment platform in the past years. Well, they have purchased most expensive computing equipment and make the profits with small investments and gain huge profits.
Bitplaza claims to offer us a fix profit of 10% which increase to 600% in 30 days and then increases to 1500% after 60 days.
Bitplaza claims that their company offers trust assets management of the highest quality on the basis of foreign exchange and profitable trade through Bitcoin exchanges and that there is no other worldwide financial market that can guarantee a daily ability to generate constant profit with the large price swings of Bitcoin.
This makes it highly impossible to believe in as the company doesn’t have any other source to generate revenues other than the member’s investment.
Since Bitplaza promises to pay us at such high profit, it is a clear example of High Yield Investment Programs (HYIP). HYIPs are very risky but potentially highly rewarding programs that are ideal for people who have high risk appetites. Legitimate HYIPs can be a dependable source of daily income. Let us look into this, one of the many companies claiming to be a legitimate HYIP.
We can easily say that Bitplaza is a Ponzi scheme and running a company on Ponzi scheme is illegal. Like Bitplaza, every Ponzi scheme pays you at the beginning in order to gain people’s trust and later can run away with a huge sum of money. On the other hand, most of the Ponzi schemes keep on paying by calculating the daily ratio of withdrawal amount versus new investment coming into the company. So, Ponzi schemes keep on paying until the ratio of withdrawal amount is lesser than the new investment coming into the company means until they make profit each day. But, in reality they can’t keep on paying even if they want to because, they don’t have any additional income source than the money invested by the members. That means, each time they pay their members by adding profit to their investment amounts, they are actually creating debt equal to their profit amount.
Red flags of Bitplaza
- The owner information is not available on the website. It means they are hiding their identity from us. This is the principal characteristics of the scam site. Therefore, do not believe in their promise.
- The registration document that Bitplaza is showing on their website is to prove that they are registered investment company is actually not the registration document to run an investment company, but just a document for tax purpose. Anyone can register in the UK Companies House without having any real address in UK, just by renting address with virtual address service provider and that is also in just 20 GBP. It is that easy to fake this certificate and confuse people.
- False return on investment (ROI); 10% in the beginning, 600% after 30 days and 1500% after 60 days. Bitplaza has just over exaggerated its ROI.
Is Bitplaza a scam?
After knowing that Bitplaza runs on an illegal scheme, i.e ponzi scheme and has made all kinds of false claims, it is better we do not rely on such kind of system and stay away from it.
It is highly recommended not to invest in such a company as their system is unsustainable. There are other legit sources to earn an income online. We keep few things in mind before recommending a source to you. We rate these systems on the basis of performance considering business legality, the amount of money that can be earned according to the time, effort and the investment provided to the company, the numbers of years that business has been running successfully, the rate of successful members in the business, the future growth and long time sustainability of the business and so on.
Considering all these factors in mind, we have found the best system i.e, Wealthy Affiliate; that has been helping people all around the world to earn money suing affiliate marketing skills since 2005. You can find more details on Wealthy Affiliate by clicking this link:- https://affiliateincomereviews.com/wealthy-affiliate-review/