VarioBit (variobit.com) is a crypto trading and mining firm which supposedly generates returns of up to 4% on a daily basis. There is no mining capabilities exhibited nor is there any sort of credible proof to support their claims. If you are an experienced investor then at the first glance only you can spot all the fake claims and misleading information sprinkled across their platform.
This platform has been operational for around a year as of writing this review and within this period has successfully looted a lot of money from inexperienced people.
Read our comprehensive review to find out why you should never mess with this phony scam.
Company and Support
Firms which are engaged in providing the retail clients with investment opportunities have to be overseen by certain authorities depending upon their geographical location. While we were trying to find licenses they must have in order to operate lawfully, we couldn’t find any. We have confirmed through FCA VarioBit Limited has never been licensed which means they are just filling their pockets with the clients money.
These scammers have put up some type of registration document on their website but that does not necessarily mean that they are authorized.
Here are some of the contact details of this firm:
Warwick House Overton Road, Brixton, London, SW9 7JP, United Kingdom.
Telephone – +441234817569
Email – email@example.com
How does VarioBit Work?
This firm states that it is actively involved in trading and mining activities which is just an attempt to lure in all type of investors. Though they claims to be trading crypto markets they have not disclosed any solid evidence to prove that they are profitable in the first place.
We do not know which indicators or fundamental factors creates a trading bias. There is no details about the location of their mining farms. Seems like these scammers did not have enough time to create convincing back stories.
What kind of profits does VarioBit advertise?
The thought of making easy money is very tempting but whenever you encounter offers which are too good to be true be wise enough to say no to them. There are 3 investment plans offered by this platform:
Returns – 110%
Period – 7 days
Min. Deposit – $10
Returns – 5% Daily
Period – 30 Days
Min. Deposit – $10
Returns – 4% Daily
Period – 45 Days
Min. Deposit – $10
VarioBit provides anyone who promotes their platform with attractive incentives. The individuals are paid a flat 5% of the deposit amount made by the clients they referred to this service. There are tier 3 level program available on this platform.
It is no mandatory for the affiliates to have an active deposit in order to get their fat commissions.
Deposit and Withdrawal
The minimum deposit amount is $10. The e-currencies accepted by this platform are PerfectMoney, Bitcoin, Payeer and advcash. There is no information about the transaction fees associated with the deposits and withdrawals.
They state that the withdrawals are usually processed within 12 business hours.
According to the data provided on whois.com this domain was registered on 16/06/2017 and expires on 16/06/2019.
This website has a global rank of 98,473 and it ranks 8,763 in Iran according to alexa.com.
The majority of the users coming to this website are from Iran, Russia, Italy, Czech Republic and Pakistan. This website is using ad networking platforms like adbtc.top to reach more people.
Can I Trust VarioBit.com?
There is no way to profit from the markets without putting in efforts. Don’t believe in any of the easy money stories because most of them are just fabricated lies orchestrated by scammers. No investment firms can guarantee the returns due to the ever changing nature of the markets.
VarioBit Review Conclusion
VarioBit is a viral ponzi scheme which has gained enough traction. According to the HYIP sites, they are currently paying but remember this is a ponzi scheme. They are using the funds gained from new investors to pay up the old ones. Once they have made enough money, this whole scheme will collapse and will wipe out many investors.