BitWaves Financial Limited supposedly is a company that invests in cryptocurrencies and fiat currencies on Forex markets. Thanks to this activity it allegedly is able to generate free profits for its customers.
The best investment plan offers 4% daily, principal included, which means 45% per month net. Then you can add to this referral commissions with 9% across three levels of deposits.
So, is it a genuine opportunity to make money?
Bit waves scam
Let’s first have a look at the company Bitwaves Financial. It really has been registered in the UK, but only in October, so it is only one month old. It has no track record, no history. And it is only a tax registration, which says nothing about the credibility of the company.
The main thing is that Bitwaves is offering investment services, which is an activity regulated in the UK by the FCA. However Bitwaves is not registered with the FCA, therefore it is operating illegally.
Bitwaves is promising a fixed return of 4% per day. Which, as we already mentioned, means 45% net per month. You would be very lucky to do this in one month on cryptocurrencies, but it is certainly unsustainable in the long term.
And Bitwaves would certainly not do this for free, they would have to earn much more, so it makes sense for them. So how can they offer such numbers?
In reality Bitwaves is just another Ponzi scheme, or maybe not even that. Ponzi schemes collect money from the public and initially pay the profits using money from the deposits. As you can guess, this schemes always fail in the end.
But we notice that recently some of these schemes do not even pay at the beginning, they just steal all the money. In any case Bitwaves is a scam that you should avoid.
Bitwaves is a scam, there is no real trading going on. It is a scheme that will fail sooner or later, stay away from it!
If you are interested in crpytocurrency trading, try it on a free demo account with a regulated broker.
You will see that it is possible to make money in trading, but 45% is not achievable every month.