What is HashFinance.biz? Is HashFinance Scam?
If you’ve heard of the recently launched hashfinance.biz cryptocurrency website and looking for more information about it, you’re on the right page. You’re probably wondering if hashfinance is a legit business opportunity or a complete scam business looking to cash in on the confusion surrounding bitcoin and other cryptocurrencies. In this review, you’ll learn about the hashfinance scam, get an in-depth analysis into the workings of this business and, find out why you shouldn’t invest anything with hashfinance.
But before getting into the nifty details, we’d want to state that Hashfinance is a ponzi scheme and anyone thinking of investing their money with them risks losing all their investment.
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How does HashFinance work? Why don’t we recommend it?
Hashfinance.biz is an online bitcoin mining and trading business that was set up in 2017. The company is registered in the UK under number 10936004. They claim to be a team with vast experience in the bitcoin mining and trading industries. This claim is what apparently makes them experts in these industries.
A more absurd and bold claim made in the hashfinance scam is that investors face no risks when investing with their business. In fact, they go as far as claiming that there’s a ROI guarantee on your investment. First of all, no investment opportunity is ever risk free. In addition, the risk free guarantee is backed by an EV SSL certificate provided by a third party. To set things straight, SSL certificates will only encrypt information you send over the internet. The SSL certificate provider will only provide compensation if the data is lost or tampered with. So if you successfully make a deposit with Hashfinance.biz and the company suddenly goes under, there’s no way to recover your investment.
So how much can you invest and how much “returns” can you expect? Investors can deposit a minimum amount of 0.001BTC. There is no maximum amount you can deposit. The interest you can earn ranges from 11% to 13% with a maturity period set for 12 days. The amount of interest you can earn depends on your deposit with 13% being earned on deposits of 1BTC and above.
But the big question is how can you earn a guaranteed interest of 13% each day? We decided to look deeper to understand how Hashfinance is able to pay such handsome returns to investors. Going through the websites FAQ section, we discovered that Hashfinace.biz skirts around the question regarding how their investment portfolio works. They’re quick to invite potential investors to go to their investment section to learn more. There’s no such section on the website!
Further digging finally revealed how the hashfinance scam is actually a ponzi scheme. Hashfinance runs an aggressive affiliate campaign whose main focus in bringing in new investors. As a member, you’ll be encouraged to sign up new referrals to the website. Regular affiliates are promised a 6% commission on deposits made by their referrals. There’s also the opportunity to earn 12% commission as a regional representative. If you closely analyze this cycle, hashfinance is simply taking new member’s deposits and paying them out as commissions to existing members. However, like every other similar scam business model, the time will come when the number of existing members surpasses that of new signups. The company will suddenly stop paying its partners and investors will stop “earning” interest on their deposits.
Besides the aggressive affiliate campaigns and Ponzi scheme type of business model, we also found another red flag which you must be aware of. As an investor you can with draw as little as 0.0005BTC and you can make unlimited withdrawals per day from your account. The interesting thing is that, hashfinance doesn’t charge any transaction fees on these transactions. This is a classic tactic used by scam bitcoin mining and trading businesses to lure unsuspecting investors to join their businesses. Normally, you’ll want to try out this feature by withdrawing small amounts before finally deciding to place one huge deposit. However, that’s planned for. The goal of hashfinance is to get Bitcoin owners to deposit huge amounts of the cryptocurrency with the business. Once it goes under, it will do so with a huge amount of this cryptocurrency collected from thousands of investors across the globe.
Hashfinance.biz is yet another of the scam businesses that have sprung up to cash in on the Bitcoin craze. Its target is bitcoin owners who want to gain more of this valuable cryptocurrency. Presenting itself as a bitcoin mining and trading business, hashfinance is nothing more than a Ponzi scheme where very few actually earn a return from their investment. We recommend that you stay away from this site.
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If you have any question about hashfinance then you are free to leave a comment in our comment box. We will happy to help you.