[2016-09-26] Bitcoin Scam Site Warning – BitDay

"To the untrained eye, the BitDay website will look as legitimate as it possibly can. The company offers a lot of information, a video, and even claims to issue credit cards. While it is certainly possible they could offer debit cards; credit cards are a different matter entirely. Particularly when it comes to platinum cards, as there is no Bitcoin company able to issue those right now.

While that may not be a major red flag to a lot of people, there are other warning signs on the front page. A company number is provided, which is legitimate and can be looked up with relative ease. However, this does not tell much of the story, as anyone in the world can request a company number in exchange for a minor fee.

The biggest question mark is the amount of money BitDay promises to its investors. Even the smallest investment package claims to offer a whopping 11% daily return, for the lifetime of the account. That would put investors in profit after just ten days, which is impossible. Keeping in mind how this plan supports deposits of up to 300 Bitcoin, they would have to return 33 Bitcoin per day for large investors. Very unlikely, if not an outright scam.

The other investment plans do not fare much better, as they will offer 13 and 16% daily returns respectively. Both figures are ridiculous at best, and will not be feasible for more than a week or two at most. As long as the money comes into the BitDay program, they may be able to sustain high rates, but it is doubtful a lot of people will even put 0.001 Bitcoin into this program.

So far, there are very few reviews to be found about BitDay as well. The usual group of promoters is making the rounds on Facebook and Twitter, but it does not go much further than that. BitDay will run off with your money sooner or later, and that scenario will be impossible to avoid. Do not invest any money into this program, as it will vanish into thin air."

Topic: [2016-09-26] Bitcoin Scam Site Warning – BitDay (Read 322 times)