BTCBinary Scam Review – CAUTION!
OFFICIAL SCAM URL: btcbinary.biz
The BTCBinary cloud mining system claims to provide investors with 20% ROI daily for the rest of their lives. Sure, it sound like a deal that you can’t lose on, but these guys are clearly scammers and they are hell bent on stealing your money. This is our BTCBinary scam review and we are here to shut this bogus Bitcoin mining app down for good!
BTCBinary App – Leadership
The first BTCBinary scam factor which came to our attention here has to do with company ownership and leadership. If you take a look at the website, you will notice that there is a not a single mention of anything to do with company leadership or who owns it. This is a totally anonymous and faceless Bitcoin mining company. It’s definitely very suspicious to say the very least. You do always have to wonder why a cloud mining app like this would be anonymous.
The only reasonable explanation as to why the people behind the BTCBinary system would want to keep their identities a secret is because they are doing something totally illegal. It’s pretty obvious that these crooks are looking to steal money from anybody and everybody possible. They don’t want anybody finding out who they are because they would end up in prison for defrauding countless people out of their hard earned money. Anonymous investment programs like this are never to be trusted.
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BTCBinary Mining App – Company Status
Another BTCBinary red flag which came to our attention here has to do with the company itself, BTCBinary LTD. Folks, these guys claim to be registered as an official company in Panama, which may or may not be true. It’s not all that hard to forge registration or incorporation documents, especially for such a lax country as Panama. Next, Panama is well known for being a financial safe haven for criminals. Even if the BTCBinary LTD company is actually registered in Panama, chances are almost 100% that fake names and addresses were used.
However, the really damning part here is that this company is not registered with the FCA or any other such authority. You see, a company that claims to take money from people and use it to invest needs to be licensed to do so. It’s a financial activity that requires the proper licensing and authorization to perform, which the BTCBinary LTD company does not have at all. We checked with the FCA and all other such financial regulatory and licensing bodies, and nowhere is this so called company registered. This is a totally illegal and fraudulent investment company that has no legal authority and no right to perform any of the activities which it claims to perform for investors.
BTCBinary Bitcoin Miner – No Evidence Of Mining
The next BTCBinary scam factor which needs mentioning is that there is absolutely no evidence that any Bitcoin mining occurs here. For one, there is no investment or mining portfolio present, or in other words, there is nothing which can confirm that any Bitcoin mining actually goes on here. There is no information in regard to where the mining farms are, what the hash rate is, what the overhead cost is, or anything else of the sort.
Sure, these guys say that they mine for Bitcoin for all investors, but the total lack of evidence of this does not inspire confidence in the least. As far as we can tell, there is no Bitcoin or anything else being mined here. The only thing which the BTCBinary system mines for is your money. It’s nothing more than an empty shell which claims to perform a service for investors, but actually just cleans you out and runs to the hills with your cash.
BTCBinary Cloud Miner – Ridiculous Returns Promised
Perhaps the most damning aspect of the BTCBinary mining app is the fact that it promises totally ridiculous and impossible returns. The claim here is that if you invest $50,000 worth of Bitcoin, you will get returns of 20%, every single day, for the rest of your life. This would mean that your initial investment would be doubled, more than doubled, every single week.
Folks, Bitcoin mining can be somewhat profitable, but it’s also expensive to perform, especially because all of those mining servers require a whole lot of energy. Besides that, Bitcoin mining, while being profitable, is not so profitable that you could ever get returns like this. It does not make sense, it is unrealistic, highly improbable, and if we are being totally honest, it just is no possible in any universe, especially seeing as there is no evidence of any Bitcoin mining going on here.
Now, the BTCBinary website does feature a little section where it displays the total amount of ROI which investors have withdrawn and put in the bank. Folks, this is just a random number, with no individual payments shown, and no evidence which could back up the claim that these withdrawals are real. However, we have gotten a number of complaints from people, all of which say that their investments have simply disappeared, without any profits ever being provided.
BTCBinary Software – Ponzi & Pyramid Scheme
The other thing that you need to know about the BTCBinary mining system is the fact that it’s also a total Ponzi and pyramid scheme. There is a BTCBinary affiliate program in place, which promises investors an extra 6% for referring other people to invest. Yeah, it would be cool if this were true, but it is not. Yes, this scam will take money from whoever you refer, they will steal it, but you won’t ever see that 6% bonus. This is a scam that steals as much money as it can, and doesn’t ever pay out a single penny.
BTCBinary Review – Final Thoughts
The bottom line is that the BTCBinary mining app is a total scam. It has no clear leadership and the company is bogus too. There is no evidence that any Bitcoin mining goes on here, or that there are any profits to speak of. This is just another cryptocurrency scam that steals money from people!
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