Topic: Is BTC-Traders a scam? (Read 1091 times)
Thanks everybody for the information.
Has anybody had any experience with BTC-Traders. The 5% daily compounded interest on your Bitcoin deposit seems almost too good to be true. Any information you all have is greatly appreciated. Thanks.
For any wealth related services, if it is too good to be true, it usually is, unless you are talking about Exchange Traded Funds, those shits usually get profits for long term investments of at least 10 years
A Ponzi scheme crossed my mind too. They claim to be currency investors with a London address. The IP address comes up as Continent: Europe and Country: Russian Federation.
If you can see Russian Federation, then I can tell you with 100% rate is a ponzi scam, in the end the Russians will take your money and have a nice vacation in a warm place. They , the Russians are top rated in operating scam business like topmine actual ponzi scam running, hashprofit, ended soon within 6 months and they got away with investors money. This 5% together with IP from Russian (means its runned by Russians) should give you a lot of warnings, so far no legit business in the btc world from Russians, except that exchange of btc-e (your address can be hacked easily if you don't protect yourself).
seems shady with those returns
kinda like the gambling sites (touts) where the claim to win
like 80% - chances are they win 40% lol
all marketing schemes to get your cash
kinda like the gambling sites (touts) where the claim to win
like 80% - chances are they win 40% lol
all marketing schemes to get your cash
A bitcoin service offering 5% a year can't be trusted unless they provide some very compelling info and there is nowhere legit offering anywhere near that. Do you even need to ask about 5% a day?
It's not paying out an interest rate of 5% a day. 5% compounding daily is 5% a year but the interest is calculated daily (whereas a typical mortgage is semi-annually).
Example: I have $1000 in an investment and it earns 5% a year, compounding annually. After 10 years I have $1628.89. If the interest compounds daily though, I would have $1648.66.
Use this formula for calculating future values:
FV = PV (1 + i) ^ n
FV = Future Value
PM = Present Value
i = Interest Rate
n = Number of compounding periods
When you're doing calculations for daily interest you take the rate of 5% (a year) divided by 365 (or 365.24 for the most accurate answer, as that's the actual length of the year) so 5 / 365 = 0.0136986301369
FV = 1000 (1 + 5) ^ 0.0136986301369
Follow BEDMAS (or grab a scientific calculator) and voila.
Now I do need to point out that 5% a year guaranteed is still very high (compared to bank/GIC rates at the moment) and I wouldn't trust it.
Has anybody had any experience with BTC-Traders. The 5% daily compounded interest on your Bitcoin deposit seems almost too good to be true. Any information you all have is greatly appreciated. Thanks.
All hyip is ponzi schemed and if you invest in that your into big risk to lose big money and surely it will turn someday but i think it has a problem now i see a complain that their withdrawal is pending and i dont know that he resolve his issie but all i want to say is beware of hyips.
A bitcoin service offering 5% a year can't be trusted unless they provide some very compelling info and there is nowhere legit offering anywhere near that. Do you even need to ask about 5% a day?
Any site offers 1% daily interest is a scam. No investment in this world can offer that sort of rate for long term.
A Ponzi scheme crossed my mind too. They claim to be currency investors with a London address. The IP address comes up as Continent: Europe and Country: Russian Federation.
Use your judgement (as it seems you already have). 5% daily compounding will never be sustainable. It doesn't matter what business they're claiming they're in. If there's no info on what they invest in then it's even more obvious that it's just a ponzi.
Has anybody had any experience with BTC-Traders. The 5% daily compounded interest on your Bitcoin deposit seems almost too good to be true. Any information you all have is greatly appreciated. Thanks.
Jump to: