What is ShineBit.io? Scam or Legit? ShineBit Review


ShineBit.io is a scam, there is no doubt on that because ShineBit is a combination of two illegal schemes, Ponzi and Pyramid schemes. If you don't know about Ponzi and Pyramid schemes, then you can find the details by clicking the respective links as below:- 

 

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

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

 

Now maybe you want to know why is ShineBit.io a scam, a Ponzi Pyramid hybrid. Well, you can find that later in our ShineBit.io review here. So, if you are searching for the ShineBit reviews to find out either is ShineBit a scam or a legit, what is Shine Bit in real, then you don't have to search any further ShineBit.io reviews for that. We are here providing you the complete truth about ShineBit.

 

However, now you know that ShineBit is a scam, so if you don't want to find out more details on it, but instead want to find out the list of genuine ways 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 ways to make money online, our No1. recommendation is Wealthy Affiliate. If you don't know what is Wealthy Affiliate, then you can find the details by clicking this link:- newsonlineincome.com/wealthy-affiliate-review/

 

OK, let's continue with our Shine Bit review to find out in detail what is ShineBit in real and why is Shine Bit a scam.


ShineBit complaints. Shine Bit reviews. ShineBit legit or not?

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


Why is ShineBit a scam?

Shine Bit is a scam due to the following reasons:-

  1. ShineBit.io claims it uses the investment of members in bitcoin mining and cryptocurrency trading to make the profit. But, that is a bogus claim because none of the real bitcoin miners and traders can guarantee up to 12% daily interest rate. The real bitcoin mining companies like GM never can guarantee the fixed rate of return in fix period of time. If you don't know what is GM and want to find out the details, then you can find that by clicking this link:- newsonlineincome.com/genesis-mining/
  2. There is not any verifiable source of income coming into the ShineBit other than its claim of making a profit through cryptocurrency trading and mining. But, we already make you clear that is a bogus claim and even it fails to provide the proof for that claim.
  3. ShineBit hasn't provided the real information about who and from where is operating the ShineBit.io except the registered document from the UK Companies House. But, that is not a big deal because anyone can provide the fake details to register a company in UK Companies House. In order to find out how the companies are registered in UK Companies House, we suggest you take a look at our this post:- newsonlineincome.com/scam-companies-registered-from-uk-companies-house/
  4. If some company can pay up to 12% daily interest forever, then why that company has to collect the investment from several people to invest in their project by paying them 12% daily instead of simply taking a loan from a bank in much more lower rate, less than 1% monthly? So, their business model doesn't make any sense. So, this proves that their claims are completely bogus and ShineBit is a big fat lier.
  5. The Ponzi schemes like ShineBit only pay few members at starting by routing the money between the members in order to show the payment proofs so that they can lure more people into their scam and collect the huge amount of money and run away with that. So, don't fall for these kinds of companies because it is 100% confirmed that they will stop paying very soon later.
  6. ShineBit is also a Pyramid scheme because it offers the affiliate commission up to 3 level downlines same like MLM (Multi-Level Marking) companies, but on the sales of its ROI Ponzi plans, not on the sales of any real products or services. So, if any company offers the affiliate commission up to multi-level downlines without selling any real products or services, then that company falls into an illegal scheme known as a Pyramid scheme.
  7. There were 1000s of these kinds of companies which have already scammed the millions of money from various people. Some of them even get caught by the legal authorities. Involving with these kinds of companies is a crime and legal authorities have already warned people not to involve with these kinds of companies.

Aforementioned, now it is clear that ShineBit is an illegal and unsustainable company. So, we have listed it within our Bad and Scams category.


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