What is Btcdealer.biz? Is Btcdealer Scam or Legit?
Being on this page usually means one thing, that you have been to Btcdealer.biz. This is the right place to be if you want to know the answer to the question, Is Btcdealer legit? Or is Btcdealer scam? This is the right place for you to be because the Btcdealer review, we offer you is detailed enough with all the relevant facts and information you need to know about this website. Let us start with the fact that the deal they offer is way too good to be true and that is why there is a third voice inside your head that made you ask all these vital questions about Btcdealer.biz. Well, you should listen to that logical voice more often because Btcdealer is nothing but a well planned Ponzi scheme. Continue reading this article to find out exactly how this Ponzi scheme works.
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How does Btcdealer.biz work?
The main claim is that they are a cryptocurrency mining company which deal with buying wholesale power at a cheaper price and later on retailing it at a profit. They claim this how they make their main profits, which they are then able to share with their members. They contend that in order to share in their profits, all you need to do is invest your Bitcoins with them. Depending on the amount of Bitcoin you are willing to invest with them, there are four different investment plans to choose from.
They range from a 10% daily interest plan with a minimum deposit of 0.001 BTC and a maximum of 5 BTC, to a 13% daily plan interest with a minimum deposit of 50.001 BTC and a maximum of 300 BTC. They claim that that they are able to guarantee you this high daily interest rate for a lifetime. A pretty fantastic deal, right? Well, what Btcdealer does is, use the money they get from their new users to pay their current users. This transaction creates a continuous cycle, which makes the site appear as legit at first. Making the cycle work in the beginning is important because it convinces naïve people that the company is legit and in turn, make them invest even more of their Bitcoins. However, this cycle works perfectly until the time when the number of current users becomes more than the number of new users.
This is the reason why the company focuses on gaining new users by offering a 5% referral commission. This high payout rate is what makes their business model unstable. When the number of current users supersedes the number of new users, the company shuts down and disappears with with all the money people have invested with them at that time. When the payouts stop all at once, is when people realize that they have been scammed. The registration document they provide is also useless because anyone with £20 can get it without any hustle. Doing a search for the owner will only reveal that the company is registered privately and thus impossible to attach any face to the scheme. Avoid this website at all cost because nothing good will come of it in the long run.
As we said before, Btcdealer.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 Btcdealer 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.