Bitrise is supposed to by an online trading platform for cryptocurrencies. It automatically trades for profits, so all you have to do is to deposit money and wait for the profits.
The profits range from 10% to 30% daily, so they are extremely high. The question is, is it a genuine opportunity? No!
So, when you see an investment program offering this kind of numbers, you know that it must be a scam. Yes, cryptocurrencies are volatile, but you still can’t make 30% daily on them, not every day.
Firstly, it has been registered only two weeks ago and this registration is only a registration for tax purposes, it does not say anything about the legitimacy of a company.
Secondly, BitRise is clearly providing investment services, which means that it needs a licence from the Financial Conduct Authority (FCA) that regulates these activities in the UK.
But as you can see on our picture, BitRise is not license by the FCA, which means that it is operating illeagally.
How it really works
So, what is the real purpose of Bitrise? It is a Ponzi scheme, which means that it is designed to primarily make money to people who run it. It collects money from the public and might initially pay some profits using new deposits.
But it is going to fail, it’s given. Either owners will stop paying just because they want to keep all the money, or they won’t pay because there is not enough new deposits. All Ponzi schemes fail in the end, there is no other possibility.
BitRise is a Ponzi scam that is hiding behind cryptocurrencies, it is not about real crypto trading. Stay away from it!
If you are interested in crypto trading, try a free demo account with a regulated broker.
On the demo you will see what it takes to really make money in trading. It is possible to succeed, but it is not easy.