This review explains why Bitstrades is a cryptocurrency scam that you have to avoid.
The platform is supposed to generate profits in four different ways. You can stake you Bitstrades coins, you can lend them, you can sell them at a higher price and you can mine.
The main feature of the platform is lending, which is supposed to generate you more than one percent per day. If we include bonuses, you allegedly can make about 50% per month.
So, is this a genuine investment opportunity?
Unfortunately, Bitstrades is just a copy of scams like Bitconnect, DavorCoin and ThornCoin. It works exactly the same way, the offer is the same and the ending will be the same epic collapse like with Bitconnect.
First let’s start with basics. You should notice that Bitstrades is totally anonymous, they don’t provide any names nor contact information. And because it obviously is an investment program, it needs to be regulated in order to be legal.
But Bitstrades has no license whatsoever, which makes it an illegal investment program in most countries. You have to realize that crypto transactions are anonymous and irreversible, so do you really want to send your money this way to people who hide their identity?
Bitstrades is just a Ponzi scheme. It means that at the beginning it will pay some profits, for this purpose money will be taken from new deposits. In order to be allowed to participate in the program, you will have to buy Bitstrades coins (BSS), which will drive the price of the coin up.
You will be paid back in BSS, which will become a worthless coin once owners of Bitstrades decide to exit and take all the money with them. They will take all the Bitcoins they got from users, plus they will dump all the Bitstrades coins they have remaining, so they will double rekt you. This is exactly what happened with Bitconnect, when about a billion dollars disappeared.
Bitstrades is a typical Ponzi scam that is going to collapse, it is just a matter of time. Stay away from it!
Make no mistake, it is possible to make money with real cryptocurrencies, but you won’t be making 50% every month. You can try it on a free demo account with a regulated broker to see how it works.
And remember that in any financial trading you can not only make, but also lose money, so be responsible.