Bitreg is supposedly a crypto currency cloud mining solution which makes boasts of generating 20% return on investment on a daily basis. While we were investigating this service, we found a lot of misleading information along with outrageous returns claims which makes us believe that Bitreg is nothing but a viral ponzi scam.
Continue reading our full review to find out why we recommend all our readers not to indulge with this fraudulent firm.
According to whois.com this domain is registered on 21/05/2018 and it expires on 21/05/2019
This website has a global rank of 243,761 and it ranks 23,276 in Russia according to alexa.com
The majority of visitors coming to this website are from Russia, India, Venezuela, Iran and Ukraine.
Bitreg Scam Warning-
Every reputable company maintains cordial relationship with their clients in order to boost their credibility, after all customers are the king and every business have to satisfy them if they are in for the long run. The actual creators of this firm have maintained absolute anonymity.
Always remember when it comes to investing online lack of transparency means the firm you are dealing with is probably a scam.
Will you trust some unknown person with your money?
If no then don’t give these faceless scammers a chance to run with your money.
Bitreg is registered in Panama as Bitreg Cloud Mining Technologies LTD. Since this firm provides investment packages and takes money from public for mining and allied activities they are required to be regulated.
While we were trying to find any licenses they must lawfully hold, there simply weren’t any which means they are operating outside the boundaries of law.
Crypto currency mining in general was one of the best profitable operations a few years ago. There weren’t too much competition and the return on investment yielded by these activities were very satisfying but when bitcoin gained huge popularity in the early 2017 the profit margins on mining went down drastically.
In recent times it is very hard for individuals to break even because the machine costs and constant maintenance issues. You can’t make considerable returns unless you have strategically placed your mining farms and have a huge capital to begin with.
Bitreg does not disclose any of the mining capabilities. How can they expect the investors to trust them without seeing any sort of credible proof.
This platform offers returns of up to 20% daily. At this rate anyone can become millionaires without having to do anything. The return claims are outright lies. High return claims are an effective trick used by scams to attract newbie investors and convince them to deposit into their platform.
According to the profit calculator on their website if anyone invests $1000 they will get $3600 in returns. Sounds like a dream right?
Despite all the bold claims made by this firm, they do not have a dedicated support staff to provide telephone and live chat assistance to the clients. Have you ever seen an investment firm which does not bother about the customer experience well this firm falls in that category.
Seems like these scam artist did not have enough funds to hire a temporary support staff.
There are 4 investment packages offered by this platform. For higher returns the investors have to ramp up their initial deposit by choosing expensive plans.
The deposit and withdrawal methods accepted by this platform are PerfectMoney, Payeer, Bitcoin and advcash. They state that the withdrawals are processed instantly.
Bitreg offers a referral program wherein it the affiliates promoting this platform get paid 6% of the deposits made by their referrals. In order to reach more people quickly this firm provides the affiliates with marketing tools necessary to spread their word out.
However, note that the affiliates does not have to be an active investors to get their commissions.
Bitreg is just a ponzi scheme which might pay you in the beginning but just because they paid does not make them legitimate and trustworthy. Always remember their main goal is to make as much money as possible from registrations before they get shut down.
Bitreg Review Conclusion-
Bitreg is a fraudulent software which can disappear with your funds as and when they like. Be wise enough to say no to get rich quick scheme and stay away from this firm.
Review Date: 2018/07/02
Author Rating: 1/5
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