What is BitFine.biz? Is BitFine a Scam or a Legit?


There is no doubt that the BitFine is a scam site because it is a Ponzi Pyramid hybrid which means the combination of two illegal schemes. Ponzi and Pyramid schemes can't sustain for long run.

 

Now, if you want to find out why is BitFine.biz a scam, what makes BitFine a Ponzi Pyramid hybrid, what is Bit Fine in real, then you can find those details within our Bit Fine review as below, for that you don't have to search any further BitFine reviews.

 

However, after knowing the fact that BitFine.biz is a scam, if you don't want to find out more details on it, but instead want to find out the real opportunities to make money online, then you can find that by clicking this link:- newsonlineincome.com/legitimate-work-home-businesses/

 

Although we have listed several kinds of legit online money making opportunities, but also we always suggest everyone to establish their own online business if they want to make a good amount of money online on regular basis for their lifetime. It is not difficult to establish your own online business, but instead it is very easy.

 

There are lots of online training programs where you can learn to establish your own online business, but our No.1 recommendation for that is Wealthy Affiliate because Wealthy Affiliate teaches you to establish your own online business in your own subject of interest even if you don't have any technical skills, but only have basic internet knowledge like operating the Facebook and sending the emails. You can find our detailed review on Wealthy Affiliate by clicking this link:- newsonlineincome.com/wealthy-affiliate-review/

 

OK, let's begin with our BitFine review as below to find out what is BitFine in real and why is Bit Fine a scam.


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BitFine complaints. BitFine.biz reviews. BitFine scam or legit?

BitFine login and join in link:- BitFine.biz (Not recommended to join, it's a scam)


What is BitFine Limited and why is Bit Fine a scam?

Aforementioned, BitFine Limited is a scam because it is a combination of two illegal schemes, known as Ponzi and Pyramid schemes. If you don't know what is Ponzi and Pyramid scheme, then you can find that by clicking the respective links as below:-

 

Ponzi scheme:- newsonlineincome.com/ponzi-scheme/

Pyramid scheme:- newsonlineincome.com/2017/03/06/what-is-pyramid-scheme/

 

So, why is BitFine a Ponzi scheme?

 

Bit Fine is a Ponzi scheme because it doesn't have any real source of income to pay its members and it is routing the money between the members only to pay few members at starting so that it can show the payment proof and lure more people into its scam and collect the huge amount of money and run away with that.

 

We can say BitFine doesn't have any real source of income because it claims it can make profit by using the investment of members in forex and cryptocurrency trading and guarantees to pay up to 25% daily profit forever on the investment amount of the members. Now this is completely a bogus claim because anyone who are expert in forex and cryptocurrency trading, they know that no one can guarantee such high rate of return daily from any forex or cryptocurrency trading.

 

You can also think another way. If any company can generate profit to pay up to 25% daily, then why that company wants to collect the investment from several people and pay them 25% daily instead of taking a loan from a bank where they only have to pay 1% monthly interest rate. None of the legit businesses will take a loan (investment) from several people to invest in their business by paying them 25% daily because for legit business there is already an option to take a loan from a bank in less than 1% monthly interest rate.

 

Now it is clear why BitFine is a Ponzi scheme. So, now let's find out why it is a Pyramid scheme.

 

Bit Fine is a Pyramid scheme because it offers to pay the referral commission up to 2 level of referrals like in MLM Companies, but without selling any real products or services, just on the sales of those Ponzi ROI plans. None of the company can sustain by paying the multi-level referral commission on ROI plans or on upgrade fees without selling any real products or services and those which offer to pay such commission without selling any real products or services are marked as an illegal Pyramid scheme.

 

Now you know why Bit Fine Limited is a Ponzi Pyramid hybrid. However, there are other drawbacks of this site which makes it a complete scam.

 

BitFine Limited is claiming to be a registered company by showing the registration document from the UK Companies House. Well, that is not a big deal because that registration is just for a tax purpose and not a license to run an investment company like BitFine. On top of that, it is very easy to register company in UK Companies House.

 

Anyone who can pay 20 GBP, they can easily register company in UK Companies House by providing the virtual address which they can rent from virtual address services. Yep, BitFine has exactly done that.

 

In the past, lots of Ponzi schemes which were registered from the UK Companies House have been already turned into scam which proves having such registration document doesn't make any company legit.

 

Besides that UK Companies House registration, BitFine hasn't provided any information about who and from where is operating and running the BitFine Limited and those information has also been hidden in the WHOIS details.

 

In online business industry, when the owner of the sites don't want to reveal their identity, then that means their intention is not good because none of the legit online businesses ever have hide their owner details, neither will hide in the future. But, all the scam companies have been registered by hiding their owner details.

 

Now you know why Bit Fine is a scam. That's why we have listed it within our Bad and Scams category.


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