BitSunset claims to be a company that is focused on bitcoin mining and trading. It allegedly is managed by professionals, so the investment plans are very attractive.
Returns range between 6% and 12% daily. So, what’s the catch?
The catch is that BitSunset is not doing any real mining, trading or investing. It is a Ponzi scheme.
There is a surge of crypto Ponzi schemes that are registered in the UK. BitSunset is also registered in the UK, but you have to realize that all they have is a registration for tax purposes that is only two months old.
This registration is not about the legitimacy of their business.
BitSunset is providing investment services, so it would be legit only with a FCA licence that is required for this type of business in the UK.
But BitSunset is not licenced by the FCA, which means that it is operating illegally.
We can certainly say that 6% – 12% per day is not possible in crypto mining and trading on a regular basis. We know it for a fact.
So, when you see an offer like BitSunset, you know that it is a scam just by looking at the numbers. Easy as that.
How it works
BitSunset is a Ponzi scheme. It is designed to make money to people who run it. Ponzi schemes promise unrealistic returns, but initially they pay the profits. They use new deposits for that. It’s because they want to attract more people and get the most deposits possible.
When scammers are happy with their earnings, they just close down their program and run away with all the money.
BitSunset is scam, a Ponzi scheme. This type of scam stops paying usually within days or weeks. Stay away from it!
It is possible to make money in bitcoin trading, you can try a free demo with a regulated broker to see for yourself.
But forget about 6% or more per day, it is not possible on a regular basis.