Bitcoinvest is an investment program. It collects money from the public, then it is invested in cryptocurrencies, which allegedly will generate profits that allow you to double your money every month.
So, is it really possible to double your investment every month with Bitcoinvest?
Bitcoinvest is an illegal scheme
First of all let us explain that Bitcoinvest is an illegal investment program. This is because it is made to collect money from the public with the aim of investing. And it doesn’t matter in which asset, as long as you collect money from the public for the purpose of investing, you need to be regulated, you need a licence.
But Bitcoinvest obviously is not regulated, it has no license whatsoever. It is a totally anonymous operation. You are supposed to send crypto deposits to anonymous people. And you know that crypto transactions are irreversible, don’t you?
Illegal pump and dump
Bitcoinvest claim that they can double your money thanks to a method called pump and dump, which is allegedly legal. Pump and dump means that you choose cryptocurrencies that are not very liquid, therefore easy to manipulate, and you manipulate their price higher.
Then you hope for unaware public to start buying, so that you can sell at higher prices. In reality this method is not legal. It is market manipulation. It might not being punished now, but it can be any time soon.
Remember the US SEC clearly stated that some cryptos are securities. So, we might not be far from a stricter regulation. Do you want authorities to knock on your door sometimes in the future, because your participated in a pump and dump scheme?
Or is it a Ponzi?
Another possibility is that Bitcoinvest is not even a pump and dump scheme, but a simple Ponzi that does nothing, just paying some profits with new deposits. Which of course is another illegal scam scheme that always fails.
Bitcoinvest is an illegal investment scheme, moreover sending your cryptos to anonymous people is never a good idea, because nobody will be able to help you if you run into problems.
If you are interested in trading cryptocurrencies, try a free demo account with a regulated broker.
You will see how cryptos move and you can try to build a profitable strategy for yourself.