TYPICAL SCAM: BitDetector review

BitDetector websiteRead this review of BitDetector to learn why you should stay away from this bitcoin program.

BitDetector Limited is a company that allegedly does two main things. It is mining bitcoin and it is trading bitcoin on major exchanges.

Thanks to these activities it allegedly can make you between 10% and 15% daily return on your investment.

So, is BitDetector worth trying?

BitDetector scam

The simple truth is that BitDetector is a scam, it is not doing what it says. It is a Ponzi scheme that will fail soon.

Illegal operation

No FCA licenseNowadays it is common that newly registered companies in the UK are behind crypto Ponzi schemes. This is the case of BitDetector too.

Scammers are trying to gain some credibility by creating a new company and placing it behind their project. But you should not let them fool you by this.

Anybody can relatively easily create a company. It does not mean anything. Especially when the company is just one or a few months old like BitDetector.

What is important is that BitDetector is providing investment services, which a regulated activity. In the UK you need a license from the FCA to be allowed to provide investment services. But BitDetector is not registered with the FCA, therefore it is operating illegally.

Scam numbers

Numbers are fictitiousWe have to repeat that most of Ponzi scams are easy to identify. Any program promising you 10% daily and more like Bitdetector must be a scam, there’s simply no other way. No legal business in this world can promise you 10% daily forever.

Not only mining or investing in cryptocurrencies, but any legal business cannot achieve such profits, it is impossible.

Only Ponzi scams offer these numbers. And they start by really paying, because they take money from new deposits to pay out profits of older users. This is how it works until it collapses because there is not enough new deposits. Ponzi schemes usually fail within a month.

Conclusion

BitDetector is a scam, a Ponzi scheme. It is doomed to fail and it will fail soon. Don’t put your money into it!

If you want to see what kind of profits are really possible in cryptocurrency trading, try a free demo account with a regulated broker.

You will see that you have a lot to learn, you will need a profitable strategy to be able to make real money in trading.

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BitDetector
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