Bigbitcoinbank.com Review Scam or Paying Read Before Investing!

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Bigbitcoinbank.com Review: Scam or Paying? Read Before Investing!

Big Bitcoin Bank Review: Scam or Paying? bigbitcoinbank.com claims it could make you good profits in investment. How true is this? You may have come across many systems on the internet promising you quick fortunes, the truth is that majority of them turn out to be scams. In this review of bigbitcoinbank.com we provide you information based on our investigations and user experiences to help guide you make the proper decision.

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Big Bitcoin Bank Scam Review: Disturbing Things Found

Most of this scam quick-profit investment schemes are HYIPs. What is a HYIP? It is a just a type of ponzi scheme. Initial investors only get paid when new people sign up and invest, what this means is that you are under pressure to bring in new investors so that you will get paid. As soon as the amount of new investor drops, the owners do away with the money invested, and the site is closed down since there is no longer enough money to pay initial investors. Those that benefit most times are the first investors. The system is not sustainable because it will surely shut down abruptly leaving your money trapped in the hands of the scammers that set it up initially.

Most of them provide a registration certificate and so-called evidence of payments. Don’t be deceived, anybody could get a sham address and certificate most especially from the Company House in UK which most of them use, for just £5. These companies claiming to be located in the UK or similar countries are not in actual sense located there.

bigbitcoinbank.com is not a legit investment platform. Don’t be deceived by their promises.

Conclusion

Everyday we get complaints of people been scammed. Most people fall for these schemes because of the sweet promises of making huge profits within a short time. On a serious note, legit systems exists but scams are very very numerous. So you need a guide to help you make a good decision. We have made it our duty, by exposing scams.

Our Recommendation

They are lots of online investment opportunities which could fetch you money and give you a good Return On Investment. We constantly search them out to guide our readers so they don’t fall for scams. Always feel free to interact with us in the comment section.

Bigbitcoinbank.com Review: Scam or Paying? Read Before Investing!

Make money on Bitcoin. Earn Bitcoin, get solid returns and increase your capital with the help of BIG BITCOIN BANK. Invest in bitcoin right now, net profit up to 160% per 80 days (up to 2% daily profit) . It’s a great offer for reliable investments.

Is There Any Safe Investment Sites?

There are many ways to get a better investment return, and in many cases the safety of your money is not sacrificed. Before making any investment on any site, try to read the reviews first. There are many trusted and paying sites on online.

HYIP PAYMENT STATUS: NOT PAYING [SCAM PROGRAM]

BASIC INFORMATION

20% of all earnings go to Save Balance
Company Number: 11271176
Minimum Deposit: $66 or 0.0066 BTC
Minimum Withdrawal: $3 or 0.0003 BTC
Payment method: Perfect Money, Payeer, Bitcoin
www.bigbitcoinbank.com

ABOUT BIG BITCOIN BANK

Main activity of BIG BITCOIN BANK is cryptocurrency trading. Working with Bitcoin, they get a liquid source of increased profits, independence from external factors, low currency control and low fees in financial transactions. However, the only crypto-tool they are not limited to, using for trading activities and altcoins, young cryptocurrencies with the prospect of multiple growth.

Their script is completely unique design. Big Bitcoin Bank is absolutely unique too. Site contains professional presentation on the English language. They improve the site and add new features every day. Their latest update were: adding the Russian language, transferring the site to more powerful servers, adding cashback 5% of the deposit cost, which is immediately available for withdrawal. They improved the earning power calendar on the main page.

PROFESSIONAL MANAGEMENT TEAM

Their team consists of highly experienced employees, who want to work for the prosperity of their company and their investors. They use only licensed software. Their company is officially registered in the UK 11271176 (company number).

ACCEPTED PAYMENT METHODS

Investing is made easy in BIG BITCOIN BANK because you can use any of the following online payment processors: Perfect Money, Payeer, Bitcoin. It is easier to find an exchange service to fund or buy your online currency when you have more than one option.

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STABLE INVESTMENT PLANS

Investment plans of BIG BITCOIN BANK are stable. As soon as you introduce money in the investment process of their company by making a deposit, your money start working, bringing you a steady income every day. They offers upto 1% daily profit for 30 days; upto 1.2% daily profit for 40 days; upto 1.4% daily profit for 50 days; upto 1.6% daily profit for 60 days; upto 1.8% daily profit for 70 days; upto 2% daily profit for 80 days.

MINIMUM DEPOSIT

They are dedicated to providing their customers with outstanding service. There are no restrictions for potential investments to be made. The minimum investment amount is only $66 or 0.0066 BTC and the maximum amount is $16038 or 1.6038 BTC only. The Deposit principal amount is returned at the end of the term.

MINIMUM WITHDRAWAL

You can withdraw any available amount from your account balance. The minimum amount to request a withdrawal of money is $3 or 0.0003 BTC. The procedure for processing the application for withdrawal of funds from 1 to 3 business days. You can withdraw funds from your available balance anytime you want and without any fee.

MULTIPLE ACCOUNTS WARNING

You can have only 1 registered account. Creation of 2 or more accounts by one user is prohibited. In the case of multi-client accounts all user’s accounts will be blocked and funds will be canceled.

INVESTMENT PROTECTION

The user invests funds, and the company, in turn, provides not only a profitable return on investment, but also exemplary assistance to the client at every stage of the journey; the highest level of confidentiality and security of information and customer accounts.

DDoS PROTECTION

The management of BIG BITCOIN BANK understands that the use of the company’s website as an interactive platform for financial transactions requires increased security measures. The company uses cutting-edge technologies to protect and encrypt transmitted data, and to secure data exchange lines. It also uses the most powerful software and hardware tools and methods to protect the website databases against malicious programs, viruses and DDoS attacks.

AFFILIATE PROGRAM

BIG BITCOIN BANK provides its customers with a unique affiliate program of various levels. Referral program up to 10% is for those clients who just explore their company. This is a great way to make extra money. You can invite people to their investment platform and promote their site using banners, text ads, social networks, messengers and any other legitimate ways.

An additional bonus that you get for achieving a certain amount of sales. Getting a bonus depends on the sales volume of your team and your status. The higher the total sales of your team are, the higher your one-time bonus is. In order to fully account for sales it is required to comply with the rule: the volume of sales of one of your branches should not exceed 50% of the total sales of your entire team.

CUSTOMER SUPPORT

Their round-the-clock E-mail support team will respond to you fast at any time, any day. Even on weekends and holidays! For technical support or any advice at all, simply send an email to support if the FAQ doesn’t address your case.

Contact INFO

Address: 10 Hollybush Gardens, London, United Kingdom, E2 9QP

Working hours: Mon-Fri (10.00 a.m. – 08.00 p.m.)

This article is writing on 6 March, 2020 based on information available online & news portal. If you feel it’s outdated or incorrect, please write here to update it.

Pay Attention to These 7 Bitcoin Scams

Bitcoin – the possible Pandora’s Box of the currency world – has never been short of controversy. Whether it be aiding the black market or scamming users out of millions, bitcoin is no stranger to the front page.

Still, the jury is out on the legality and usefulness of bitcoin – leaving it in a proverbial grey area. Bitcoin’s price has fluctuated throughout its history, falling and rising, currently hovering near $10,000. Perhaps you’ve found bitcoin while it looks to be on the rebound and find yourself interested in it as an investment.

However, there have been several legitimate bitcoin scams that have become infamous, and you need to know about them – but, what are the top 7 bitcoin scams? And how can you avoid them?

What Is a Bitcoin Scam?

For most cases, it may be pretty obvious what a scam is – but with bitcoin, and cryptocurrency in general, things become murkier. Bitcoin itself is an unregulated form of currency that essentially is a mere number that is only given value because of an agreement. It’s basically like a moneybag with a lock on it – the code of which is given to the recipient of the bitcoin (an analogy drawn by Forbes in 2020).

Bitcoin scams have been famously criminal and public in nature. With no bank as a middleman in exchange, things become more complicated; so hackers and con men have had a heyday.

Top 7 Bitcoin Scams

There have been (and undoubtedly will be) nearly countless bitcoin scams, but these frauds make the list of the top 7 worst bitcoin scams to date. Take note.

1. Malware Scams

Malware has long been the hallmark of many online scams. But with cryptocurrency, it poses an increased threat given the nature of the currency in and of itself.

Recently, a tech support site called Bleeping Computer issued a warning about cryptocurrency-targeting malware in hopes of saving customers from sending cryptocoins via transactions, reported Yahoo Finance.

“This type of malware, called CryptoCurrency Clipboard Hijackers, works by monitoring the Windows clipboard for cryptocurrency addresses, and if one is detected, will swap it out with an address that they control,” wrote Lawrence Abrahams, computer forensics and creator of Bleeping Computer.

The malware, CryptoCurrency Clipboard Hijackers (which reportedly manages 2.3 million bitcoin addresses) switches addresses used to transfer cryptocoin with ones the malware controls – thus transferring the coins to the scammers instead. And, according to Asia Times, even MacOS malware has been connected to malware scams involving cryptocurrency investors using trusted sites like Slack and Discord chats – coined “OSX.Dummy.”

2. Fake Bitcoin Exchanges – BitKRX

Surely one of the easiest ways to scam investors is to pose as an affiliate branch of a respectable and legitimate organization. Well, that’s exactly what scammers in the bitcoin field are doing.

South Korean scam BitKRX presented itself as a place to exchange and trade bitcoin, but was ultimately fraudulent. The fake exchange took on part of the name of the real Korean Exchange (KRX), and scammed people out of their money by posing as a respectable and legitimate cryptocurrency exchange.

BitKRX claimed to be a branch of the KRX, a creation of KOSDAQ, South Korean Futures Exchange, and South Korean Stock Exchange, according to Coin Telegraph.

BitKRX used this faux-affiliation to ensnare people to use their system. The scam was exposed in 2020.

3. Ponzi Scheme – MiningMax

“Ponzi bitcoin scam” has got to be the worst combination of words imaginable for financial gurus. And, the reality is just as bad.

Several organizations have scammed people out of millions with Ponzi schemes using bitcoins, including South Korean website MiningMax. The site, which was not registered with the U.S. Securities and Exchange Commission, promised to provide investors with daily ROI’s in exchange for an original investment and commission from getting others to invest (basically, a Ponzi scheme). Apparently, the site was asking people to invest $3,200 for daily ROI’s over two years, and a $200 referral commission for every personally recruited investor, reports claim.

MiningMax’s domain was privately registered in mid-2020, and had a binary compensation structure. The fraudulent crypto-currency scam was reported by affiliates, resulting in 14 arrests in Korea in December of 2020.

Korea has long been a leader in technological developments – bitcoin is no exception. However, after recent controversy, it seems as though this is changing.

“But a lot of governments are looking at this very carefully,” Yoo Byung-joon, business administration professor at Seoul National University and co-author of the 2020 research paper “Is Bitcoin a Viable E-Business?: Empirical Analysis of the Digital Currency’s Speculative Nature,” told South China Morning Post in January. “Some are even considering putting their currencies on the blockchain system. The biggest challenge facing bitcoin now is the potential for misuse, but that’s true of any new technology.”

4. Fake Bitcoin Scam – My Big Coin

A classic (but no less dubious) scam involving bitcoin and cryptocurrency is simply, well, fake currency. One such arbiter of this faux bitcoin was My Big Coin. Essentially, the site sold fake bitcoin. Plain and simple.

In early 2020, My Big Coin, a cryptocurrency scam that lured investors into sinking an alleged $6 million, was sued by the U.S. Commodity Futures Trading Commission, according to a CFTC case filed in late January.

The CFTC case further details that the suit was due to “commodity fraud and misappropriation related to the ongoing solicitation of customers for a virtual currency known as My Big Coin (MBC),” further charging the scam with “misappropriating over $6 million from customers by, among other things, transferring customer funds into personal bank accounts, and using those funds for personal expenses and the purchase of luxury goods.”

Among other things, the site fraudulently claimed that the coin was being actively traded on several platforms, and even mislead investors by claiming it was also partnered with MasterCard, according to the CFTC case.

Those sued included Randall Carter, Mark Gillespie and the My Big Coin Pay, Inc.

5. ICO Scam – Bitcoin Savings and Trust and Centra Tech

Still other scammers have used ICO’s – initial coin offerings – to dupe users out of their money.

Along with the rise in blockchain-backed companies, fake ICOs became popular as a way to back these new companies. However, given the unregulated nature of bitcoin itself, the door has been wide open for fraud.

Most ICO frauds have taken place through getting investors to invest in or through fake ICO websites using faulty wallets, or by posing as real cryptocurrency-based companies.

Notably, $32 million Centra Tech garnered celebrity support (most famously from DJ Khaled), but was exposed for ICO fraud back in April of 2020, according to Fortune. The company was sued for misleading investors and lying about products, among other fraudulent activities.

The famous DJ wrote his support in a caption on Instagram back in 2020.

“I just received my titanium centra debit card. The Centra Card & Centra Wallet app is the ultimate winner in Cryptocurrency debit cards powered by CTR tokens!” Khaled wrote.

The U.S. Securities and Exchange Commission even issued a warning in 2020 about ICO scams and faux investment opportunities, brought on by a slew of celebrities who promoted certain ICOs (like Paris Hilton and Floyd Mayweather Jr. to name a few).

“Any celebrity or other individual who promotes a virtual token or coin that is a security must disclose the nature, scope, and amount of compensation received in exchange for the promotion,” the SEC wrote in an Investor Alert in 2020. “A failure to disclose this information is a violation of the anti-touting provisions of the federal securities laws.”

Another example is Bitcoin Savings and Trust, which was fined $40.7 million in 2020 by the SEC for creating fake investments and using a Ponzi scheme to scam investors. According to Coin Telegraph, Trenton Shavers, the organization’s leader, allegedly scammed investors into giving him 720,000 bitcoins promising a 7% weekly interest on investments – which he then used to pay back old investors and even fill his personal bank accounts.

6. Bitcoin Gold Scam – mybtgwallet.com

Nothing catches the eye of the naïve quite like the promise of gold – bitcoin gold, of course.

That is exactly what mybtgwallet.com did to unsuspecting bitcoin investors.

According to CNN, the bitcoin gold (BTG) wallet duped investors out of $3.2 million in 2020 by promising to allow them to claim their bitcoin gold. The website allegedly used links on a legitimate website (Bitcoin Gold) to get investors to share their private keys or seeds with the scam, as this old screenshot from the website shows.

Before the scam was done, the website managers (slash scammers) was able to get their hands on $107,000 worth of bitcoin gold, $72,000 of litecoin, $30,000 of ethereum, and $3 million of bitcoin, according to CNN.

Bitcoin Gold, the site’s wallet used in the scam, began investigating shortly after, but the site remains controversial. Still, firm released a warning to bitcoin investors.

“It’s worth reminding everyone that it will never be truly safe to enter your private key or mnemonic phrase for a pre-existing wallet into any online website,” Bitcoin Gold wrote. “When you want to sweep new coins from a pre-fork wallet address, best practice is the same as after other forks: Send your old coins to a new wallet first, before you expose the private keys of the original wallet. Following this basic rule of private key management greatly reduces your risk of theft.”

7. Pump and Dump Scam

While this type of scam is certainly not relegated to just bitcoin (thank you for the education, “The Wolf of Wall Street”), a pump-and-dump scam is especially dangerous in the internet space.

The basic idea is that investors hype up (or “pump up”) a certain bitcoin – that is usually an alternative coin that is very cheap but high risk – via investor’s websites, blogs, or even Reddit, according to The Daily Dot. Once the scammers pump up a certain bitcoin enough, skyrocketing its value, they cash out and “dump” their bitcoin onto the naïve investors who bought into the bitcoin thinking it was the next big thing.

Bittrex, a popular bitcoin exchange site, released a set of guidelines to avoid bitcoin pump-and-dump scams.

While “stackin’ penny stocks” may sound like an appealing way to earn an extra buck (thanks to its glamorization by Jordan Belfort), messing in bitcoin scams is nothing to smirk at.

How to Avoid Bitcoin Scams

With the inevitable rise of bitcoin in current and coming years, it is becoming increasingly important to understand and be on the lookout for bitcoin scams that could cost you thousands. As more people become interested in Bitcoin, more people are also likely to try and pull off a scam.

There is no one formula to avoiding being scammed, but reading up on the latest bitcoin red flags, keeping information private, and double checking sources before investing in anything are good standard procedures that may help save you from being duped. Cryptocurrency can be a confusing topic even for the experienced Bitcoin enthusiast, so the more you read up on the world of Bitcoin, the more prepared you can be. After all, knowledge is power.

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