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You're Reading:BitPalas.Biz – Not Exactly Guaranteed Profits | All the Truth about…

BitPalas.Biz – Not Exactly Guaranteed Profits | All the Truth about…

by Tasos

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Jun 20, 2017

 


 

I came across another investing program, a HYIP. This one launched only a week ago and it reminds me other low-quality projects that target innocent wannabe entrepreneurs who are searching for “Easy” ways to make money online. Do you think that people are making any money with those programs?….Only a few, mostly the owners and a couple of friends and I will explain why at the end.

But let’s dive deep before we make our final decision…

 

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Inside BitPalas

 

The beautiful homepage image shows bitcoins in the air, 2 big balloons, and a building. The main headline welcome visitors with a bold statement

The place where you multiply bitcoins.

Welcoming message:

You are definitely in search of reliable and profitable investments. You are at the right place. Since 2015, the company offers trust assets management of the highest quality on the basis of foreign exchange and profitable trade through bitcoin exchanges. There is no other worldwide financial market that can guarantee daily constant profits than bitcoin. Join the company today and start making money.

 

Not so impressed

 

 

bitpalas-biz

 

 

Features

  • SSL encryption
  • Instant withdrawals
  • Dedicated server
  • Registered company

 

Statistics shown

  • Total members 18,000+
  • Total deposits 3567+ BTC
  • Total withdrawals 836+ BTC
  • Days online 8

 

Investment Plans

  • 10% daily ROI forever, deposits 0.001 up to 5 BTC
  • 12% daily ROI forever, deposits 5.001 up to 30 BTC
  • 15% daily ROI forever, deposits 30.001 up to 300 BTC

 

Affiliate program – 2 levels deep

1st level 5%, 2nd level 1% commissions on referrals purchases. You don’t need to invest in order to receive affiliate commissions.

 

FAQ – Terms – Important

  • What is BitPalas Limited and what are the activities of the company?….A prominent representative of the international computer technologies market, bitcoin encryption algorithms and mining, a developer of hardware offering safe investments in this area.
  • Is that business established for long-term?….Yes, the business plans, looking ahead for at least 10 years period.
  • Can I lose money by investing here?….No, you can’t. They make every effort to ensure just that.
  • You can deposit as many times as you want
  • Minimum withdrawal is set to 0.005 BTC
  • You can open multiple accounts

 

Let me comment at my conclusion, as always

 

Registration – Legal Docs

Companies house number 10734986, 221 Botley Road, Oxford, United Kingdom, OX2 0HD, incorporated on 21 April 2017. The name Justin Becker appears as the officer, +449356241847.

 

Owners – Domain

The whois database indicates the registration date for the domain bitpalas.biz, 20 April 2017. The owners as usually happens with HYIPs are hiding from the public using privacy protection.

 

 

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Final Thoughts

 

 

Are you convinced that Bit Palas is a company that can change your future drastically?….Think again, there are many things to consider before you decide to part any money.

 

Apart from the registration document, there is nothing to trust in that company.

The domain was registered privately. The name Justin Becker does not say much. The search term “Justin Becker bitcoin” returns no relevant resultThe search terms “Justin Becker cryptocurrency” and “Justin Becker investor” return no results as well. Probably that name is not a real one.

The statistics provided seem fake. In just 8 days they managed to recruit 18,000 members?…I guess they are not even 100. And those people already invested 3560 BTC. This is a huge amount of money, almost $10 million.

 

The daily promised ROIs are fictional of course. Any program offering more than 10% yearly is extremely dangerous and should be avoided by all means. How BitPalas is able to generate so much daily profit remains a mystery for centuries to come. And why such a profitable company would want to share their knowledge and profits with random people online?….Does it make any sense?

They say that they produce hardware, they create bitcoin algorithms and offer safe investments. But that information is totally unverifiable as the empty of content BitPalas website is a red alert on its own.

 

The FAQ mentions that there is no risk. Have in mind that no investing program can guarantee any earnings at all. Even highly experienced players lose money.

 

Moreover, you can open as many accounts as you want and that is another element that is not adding any trust

 

All of the above details leave me no space but to mark the financial opportunity as illegal. It is a Ponzi program, that is solely dependent on affiliates and their deposits. Newly recruited members pay off those that invested earlier. This rotten game can not last for long because from a certain point on recruitment slows down. It is when no new money rolling in, no ROIs can be delivered and the owners will shut down the website leaving the vast majority of participants with a loss.

Only the owners are making money at the expense of their affiliates. There is no other source if income. Therefore. it is strongly recommended that you stay away from this company.

 

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Related

 

 

That’s it, another review has finished, here on Web Market Support. I am waiting for your comments and thoughts, Till next time.

 

 

 

 

 

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2 Comments

  1. Jeff

    Thank you for the thoughtful comments. Wish I had read your review before falling victim to their hype. Thinking I would give it a try, I invested $100 worth of Bitcoins. Prior to that I wrote an e-mail asking, since they were in England, if an American would be eligible to make deposits and withdrawals. She wrote back quickly, telling me of course. Since there was communication, I had a level of trust. So, I watch the supposed investment keep rising, checking the account from time to time. However, three attempts at withdrawals have amounted to nothing. Tried several different eWallets. No further communications either after attempting to contact them again. Well, for a month or so, I was hopefull, but now feel foolish.

    Reply
    • Tasos

      Welcome to my blog, Jeff. Your story is the story of thousands of people. Don’t worry. And definitely, you are not a fool. They are “criminals” and they know how to deceive. You just did not have any experience.

      I wanna thank you so much for taking action and reporting the incident. You help more people stay away from them!

      Reply

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