Mega Bitchain Limited is a company allegedly founded by a group of experienced Wall Street traders. They are using quantitative algorithms for bitcoin trading, which supposedly can generate you profits between 8% and 16% per day on your investment.
Is Mega Bitchain a legitimate investment opportunity?
Mega Bitchain scam
The truth is that Mega Bitchain is a scam and it is very easy to see. You just need to look at the numbers, 16% daily, which means 480% monthly, are impossible in any legit business, bitcoin trading is not an exception.
In crypto trading you can have a lucky month and multiply your capital, but it is impossible to do that every month. Regular daily returns are impossible, markets are not the same every day.
A lot of scams hide behind a newly registered companies in the UK, Mega Bitchain is no different. It shows a registration that is one month old, so it is completely fresh, no history. Furthermore it is just a tax registration, nothing else.
Should Mega Bitchain be legit, it would have a licence from the Financial Conduct Authority (FCA), because it is providing investment services.
But as you can see on our picture, MegaBitchain is not registered with the FCA, therefore it is operating illegally.
The true nature of MegaBitchain
Mega Bitchain is a Ponzi scheme, or maybe just a simple scam. A Ponzi scheme pays out profits, but is using new deposits for that, there is no real trading going on. So as soon as withdrawals exceed deposits, the scheme collapses.
But we notice that lately these crypto scams often do not even bother with paying anything at all, they just collect money from people.
Either way Mega Bitchain is a scam that will fail sooner or later, it’s given.
MegaBitchain is a scam that has nothing to do with real crypto trading, stay away from it!
If you want to see what kind of profits are really possible in crypto trading, try a free demo account with a regulated broker.
You will see that you have a lot to learn before you can start trading with real money.