Are the Bitpetite scam rumours true or is this a genuine way to make money?
Bitpetite is growing extremely fast but can you really trust it? Today I’m sharing my honest review and giving you all the details.
Before I start…
(This is a 100% free training)
My Real Review Of Bitpetite
So let me share my honest experience with Bitpetite and you’ll start to understand why I believe that Bitpetite is not worth your time.
Bitpetite is growing really fast right now and literally 1,000’s of new members are joining each day but I won’t be one of them for a few reasons which I will be sharing today on this page.
Bitpetite certainly looks like a legitimate website but I honestly believe that it’s all smoke and mirrors to hide the real business going on here. It’s easy to look at a website and say that it looks legitimate so it must be.
The reality is often very different and you only need to look at the likes of my online dream biz which has a legitimate website but is a poor scam that’s already taken the money of 1000’s of people.
How Bitpetite Actually Works
When you visit their website via a referral link from an affiliate you end up on a website that talks about money transfers and when you scroll down you will actually see the “business opportunity” where you are guaranteed a percentage return based on how much Bitcoin you invest.
Hopefully you can see the image above okay but let me explain the figures here so you get an idea of what exactly is going on.
In this example you’d need to invest 1 Bitcoin which currently costs around $6,000 (slightly less at the time of writing this). When you invest 1 Bitcoin into Bitpetite they will guarantee you 4.5% daily interest.
That means that you have a daily net income of $259.85 for investing 1 Bitcoin and doing absolutely nothing but sitting back and collecting your money.
Sounds pretty awesome right?
Of course it does and that’s the reason that people get sucked into it. In this example from a single investment of $6k you are earning $1400 a week and will have made your money back in no time at all.
How exactly is this realistic?
Bitpetite claims that they run a money transfer business and that the returns you make are simply from their business and you are getting a cut of the profits however it seems pretty unlikely given the high % returns.
To me this looks like a typical ponzi scheme no different to other ones that have been around for a long time but the main difference is that instead of investing fiat money (such as USD) you are investing Bitcoin.
This makes the opportunity extremely dangerous because Bitcoin is untraceable which means the owner of the Bitpetite website could easily run off with millions worth of Bitcoin that can never be traced!
Don’t get me wrong…
I personally love Bitcoin and I am a big advocate for cryptocurrencies. I am invested in a number of cryptocurrencies and Bitcoin however I am NOT involved in any opportunities like Bitpetite as I don’t trust them.
Bitpetite – Proof It’s Dangerous?
So you might be thinking at the moment I have just talked a lot of theory and not really shared any proof of why it could be a scam so let me do that now and explain exactly why I don’t trust it.
So the first reasons are obvious and I already mentioned them. The % returns are not realistic and are extremely similar to the returns offered by ponzi schemes that ALWAYS end up collapsing (plus they are illegal).
The main reason?
I have been invited by a few people to join Bitpetite who have all been involved in similar schemes before that lasted about 2 years before collapsing and people lost a lot of money, many their life savings.
One of those companies was My Advertising Pays and the company basically claimed that it would pay you daily % returns and share the profits of the company back with investors.
You would sign up, buy advertising packs and you would earn a % return each day that you could use to buy more ad packs and grow your daily income. Many people invested their life savings into this program and lost it all.
The top earners in this company made millions from My Advertising Pays and now they are involved in Bitpetite, promoting it hard and making the same claims of guaranteed income.
Does that guarantee it’s a scam?
No it doesn’t however it doesn’t exactly fill you with much confidence does it? After all people trusted these well known marketers and ended up losing a lot of money when the program collapsed.
The same will end up happening in Bitpetite but it could potentially be worse when it happens for the simple reason that Bitpetite does not need payment processors.
With other ponzi schemes there has always been a way to trace money (albeit it difficult) because payments would normally be made through some kind of payment processor which leaves a digital paper trail.
With these Bitcoin ponzi schemes (and Bitcoin MLM programs) there is literally no trace of income because Bitcoin by it’s nature is untraceable and like I already mentioned the owner of the Bitpetite program could quite easily shut it down and run off with your money never to be seen again.
Bitpetite Conclusion – Avoid
I’m obviously not recommending Bitpetite because I don’t believe it’s a trustworthy opportunity.
Realistically you “could” make a lot of money with Bitpetite but if you do you will be one of the lucky ones. It’s just a matter of time until this website shuts down and leaves a lot of people wishing they never got involved!
Before you leave
(This is a 100% free training)