What Is CoinSeven.Biz – Is CoinSeven.Biz Scam or Legit?

By | September 11, 2018

What Is CoinSeven.Biz, Who Owns it, Its Offer and Why its Not a Legit Site.

All questions arising from What Is CoinSeven.Biz will be answered here in this CoinSeven Biz Review. So, it will answer questions like Is Coin Seven Biz bad, dishonest, scam, illegal, crooked, fraudulent or is CoinSeven good, legit, honest and paying out? They provide ‘dots’ on a map as ‘proof’ of their data centers. However, that is just an image and not actual proof of such centers. They claim to have financial experts in the area of bitcoin mining. However, they have utterly failed to provide names of these ‘experts’. They have failed also to properly declare their actual way they earn money to make returns to their investors. In truth, I believe they are just a HYIP Site – Ponzi Scheme. Below is enough information for you to decide for yourself.

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What Is CoinSeven.Biz – The Real Nature of their Business.

Let us now take a really good look in answering What Is CoinSeven.Biz. The first place we start is the CoinSeven.Biz Sitefounder. A quick background check and I see that their site was created 04/09/2018 and registered for just 1 year online. OK! They claim they got a bunch of data centers for processing bitcoin. Right, OK. That is probably a multi-million dollar operation to set up and maintain. So, why then would you register your site online for just 1 year when you have set up an expensive bitcoin mining operation in the real world? Already, their site does not make sense to me. Legit operations like theirs register much longer indeed.

Their real world address for their business is ‘PANAMA’. I have exposed hundreds of online scams and so many times fake sites will just say ‘PANAMA’ as an address. That is another sign we are dealing with a dishonest site.

The founders name is not listed which does not surprise me one bit. When the time comes for them to run off with all of the websites earnings then on one knows who to point the finger at. Lack of such details is an intentional way of hiding the owners ID and with good reason. Should that person be caught they could face criminal charges because their business model will ensure, statistically, somewhere around 90% of their members will not see any returns and simply lose their investments to an online stranger.

What are they really?

Cutting to the chase, they are just a Ponzi Scheme, HYIP Scheme. Same thing. So you invest money but you don’t get any real world product or online product. That is the classic characteristic of such schemes. These sites will come with some badly worded, error riddled description, of how they are earning cash but they never have any proof of such claims. They will even say many times that they are registered in the UK and most are not. That is a general over view of the behavior of Ponzi Scheme Sites like CoinSeven.

OK, is it Possible to Earn with Them?

Not likely but there is a slim chance. However, I don’t recommend you trust their site as it can collapse at any time leaving you without any returns. So, they are a young site and your chances of earning maybe quite good at the moment – see date of this post. When the site is aged beyond 2/4 weeks then you will experience problems with payments.

Who is Most Likely to be Scammed by Coins Seven?

Newcomers to investing with bitcoin online. Simply, such people will/may not know the scam signs and so really believe they are investing in bitcoin. There are many good companies online that can do this for you for a fee but not so in this case. Also, legit online mining companies will proudly provide undeniable proof of their own mining centers. 

The savvy HYIP (High Yield Investment Programs) Investors, the ones that know what htey are looking at and know the risks, will know to invest in the beginning and then hopefully make returns. Those that do get returns will have done so by someone else losing money.

Are they a Registered Company that is Regulated?

I believe not. Legit sites will make it 100% clear about being registered legitimately, and again, provide proof to that fact. Since they have not done so, and no one knows the owner of the site, then they can run riot without having to answer to any regulatory body. Investing in HYIP’s is just the same as gambling, its mostly down to luck.

When NOT to Invest in Such Sites?

As said, anytime after 2 to 4 weeks. Check the deposits and withdrawals. Should the founder be paying then compare these figures. Let say the withdrawals (payouts) are very low but the deposits are very high then you know you are dealing with a greedy founder and you probably won’t earn a dime but only lose your money. Better still, I don’t suggest you ever invest with such sites. They can be cruel scam and newcomers tend to lose thousands of dollars never to get it back.

 

 

Final Thoughts.

I don’t see evidence that they are really mining bitcoin. I only see them asking you for your cash and then your are expected to get predetermined payouts. Their affiliate program runs 3 levels deep and really is only a way for them to make you increase their membership numbers. The older the site the less likely you will earn anything. Be wary of HYIP Monitor Sites saying that such sites are legit when they are not because they too are many and can be scams. Those that lost their money to the aforementioned site are welcome to report them in the comment section or at my sites email address at scamwitnessadminsupport@gmx.com.

 

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