BtcDollarPaying.com – Why I believe they are a HYIP and a ‘Money Game’.
BtcDollarPaying.com (www.BtcDollarPaying.com) starts off by assuring their visitors that they are not be associated with a ‘HYIP’ or ‘Money Games‘. LOL! That is EXACTLY what they are! Those asking What s BtcDollarPaying com? Is BTCDollarPaying fake, a scam, fraudulent, dishonest, criminal, illegal or asking is Btc Dollar Paying good, honest, real, safe, genuine and a great way to make money from investing? This BtcDollarPaying Review is going to detail all the things that are DRASTICALLY wrong and illegal about their site! For me, they are a scam site contrary to their home page intro, which by the way, made me chuckle a bit.
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BtcDollarPaying.com Owner, Their Investment Offer and What they Really are.
I am not silly enough to think everyone does not know that BtcDollarPaying.com is a Ponzi Scheme. However, there will also be many that will not recognize it for what it truly is. For such people can lose thousands on such schemes and so this article is mainly for the newbies those these kinds of HYIP’s or High Yield Investment Programs.. Let us begin to find ownership info on Btc Dollar Paying.
Their site was created 07/09/2018 and registered for 1 year online. That is not a long time for any legit online business venture to register for and typical of a scam site who will defraud many and then just close down the site, making off, with all the cash.
Their address is given is Arizona USA. There is no founder name listed at WHOIS or on their website. Another bad sign that something is up. When no legit details of companies ownership has been made available then we can see that they are covering up their identity on purpose. This is clearly so they can’t be targeted by the law when they do not make good on their returns to members.
What is their Offer?
You are to choose from several investment levels. They do not give you a product or digital downloads for your money but only that you give them your cash for promised returns. They claim they are investing your cash in some kind of trading. Their description, even for a scam site, is unusually unclear on how they are generating returns. So, that where you find a sheer and obvious lack of transparency on how a company makes money, is another sign you are dealing with a dishonest site.
They say that they are not to be called ‘money-games’ or ‘HYIP’, as mentioned, but if you take a look in their FAQ’s section you will clearly see them calling their accounts ‘HYIP’ – that was silly. Staggeringly, they promise 7750% RETURNS AFTER JUST 5 HOURS! No way! Maybe early in the life of their site some will be lucky enough to see those returns but not everyone will see anything close to that amount. Those that get paid are only so the site can generate legit payment proofs to pull in new members. The older the site becomes then the more sparse will become the payments, if they continue to make any at all.
Ponzi Schemes and HYIP Explained Further.
This aspect of their business is the most fundamental and important part of this post. This is the hidden threat that waits to sting their members. While members maybe signing up in the start, investing in no actual product, some will get paid – as said. BUT HOW? WHERE IS THE MONEY COMING FROM? The answer is the money is coming from new members.
So, you sign up and pay and then others will do the same. The new money is paid out to older investors and the cycle repeats. That is all. When new signs ups stop coming in then the site will just shut down. They will shut down because now they don’t have the funds to pay all back their initial investments and their returns. It is a fraud.
Where you see no proof of how their money is being generated, no evidence of company registration, no owner name, no transparency at all nearly, and most certainly when they refer to their accounts as ‘HYIP’ – you need do to a mega-runner from them! You will only put yourself at tremendous worry of losing your cash.
Is their site a Legal Website and are they a Registered Company?
The quick answer to both is – NO! They have not supplied sufficient data on their site they are even a registered real world company. They are way too vague on that issue. Since their business model is not endorsed by the law then we can say that their site is not even legal online. I suggest you always check for reviews on any site before parting with money. I am not a fan of checking ‘HYIP-Monitor’ sites because many of them will not be accurate or scams themselves. That is something to keep in mind in your own research as well.
Report Scams here at email@example.com or in the comments below.
There is a significant risk of loss of your money if you invest with them. Its up to you. I don’t recommend you fund a site that does not really care if you make money or not. Thousands of these kinds of sites are set up all the time and they becoming more and more sophisticated and harder to determine if they are real or not. They have not supplied adequate evidence of any investing activity outside that of a Ponzi Scheme. They have not supplied good enough ownership details and so now they owner can reap in all the money and run off whenever it suits them. Do share this article to help alert others if you helped to grow BtcDollarPaying sites membership.
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