What is Bitwest.biz? Is Bitwest Scam or Legit?
Are you looking to find out more about Bitwest.biz? Well, you are in the right place. If you have been wondering whether this is a legitimate investment vehicle or another online scam, this Bitwest review will give you the answer. The short of it all is, BitWest is a scam set up to look like the best crypto currency mining and investment site. The desire by many people to make massive investments of their Bitcoins has seen a surge in the form of investment programs that promise a lot but soon disappear in thin air with people’s income.
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What does Bitwest.biz offer?
BitWest is no different. It sets up an attractive structure that most people looking for a quick rich scheme fall for. BitWest promises to offer daily accruals on your deposit with a number of plans being made available from an hourly plan, a daily plan up to a ten-day plan which sees a profit of 250% of the initial value. The maximum and minimum Bitcoins amounts depend on your chosen plan. The site claims to give you a lifetime of accruals and even offers an attractive referral program in three levels. This is aimed at getting users to recruit other members and earn commissions.
The higher the deposit the lucrative the daily accruals to lure more people to invest huge deposits with the plan.
Why we do not recommend it?
As already highlighted, BitWest.biz is a ponzi scheme. While it has provided some sense of legitimacy in setting up a credible website and divulging its physical address, everything else is a sign of a get rich quick scam. In such a program only the scammer win and use the initial investors to hoodwink others and build up credibility.
First, the site does not allow a refund of the deposits made. The site says deposits once made are treated as the company’s assets and you are only entitled to withdraw the accrued profits. This is plain robbery and shows anticipation for a time when the owners decide not to make payments and you cannot withdraw or seek justice to reclaim your deposits.
Another red flag is the sites’ online period. It was only set up in July and the investment program was introduced 2nd August 2017. Yet the company claims to have been around in the crypto currency business as early as 2013 but offers no viable proof. There is also no clear way of how the company will be investing your money to make such huge returns. If you are tempted to join BitWest it is much better to give it time and see its online reputation. What exists currently are its own promotions and a single testimonial from an obviously paid actor.
Some ponzi scheme may have a longer lifetime because the newer investors are many and sustain the scheme for a while. This allows the early investors to recoup their investment and make some money. However, BitWest does not even look to get to this levels because of its lifespan and non-refundable deposits structure. You are better off if you avoid it.
As we said before, BitWest 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 BitWest 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.