BitsTrades Review – Scam or Legit?

With the research behind us, here’s what we have to tell you…

As said, they are apparently a digital banking platform that’s used by Bitcoin holders. When you look further, you discover that they operate through BSS and exist/function very much like Bitcoin itself does. You can become a member and exchange their BSS currency with others, P2P exchanges, but there’s one key difference — you don’t use your fiat to purchase BSS at all. You actually have to use bitcoins to make your BSS purchase first.

From there, you have the opportunity to stake your BSS coins. Staking is a term that’s used broadly across different crypto coins — but, the idea is that you lock up your coins and generate a little interest as a result. This technique is often a natural part of a cryptocurrency’s code. Unfortunately, when you stake through BitsTrades you’re promised interest payouts that are far too high to bring to fruition. At the same time, you’ll be enticed to roll your interest payouts into your investment (and to invest more) to get your balance up dramatically.

Further, you have the option to “lend” your coins which will go into a volatility trading software program that they manage. You’re told that they get crazy profits from it and you’ll get a share of it for helping them fund their trading balance. This area is where the biggest returns are promised, in fact, but there’s no actual trading software — even in some cases where scammers have their lending programs backed by real automated trading tools, the sustainable profit levels are nowhere close to what BitsTrades claims to offer.

You are told that by investing in BSS you will see an appreciation in your balance as they’ll grow in value with time. Just like Bitconnect does, but with fancier wording, you’re lending this altcoin out to “back up” their banking system. You get paid astronomical interest rates for doing so and after a set period of time your funds are unlocked and you can withdraw them. By then, though, your money is long gone.

The same scam played out with Bitconnect. Even though some people did get their money (and profits) the vast majority did not. These are typical ponzi schemes and they only keep running for as long as they can continue to bloat up. If people catch on like the US government did with Bitconnect when it shut them down completely, the show is over and everyone but the earliest investors and the creators are left empty-handed.

Take this as a stark warning — BitsTrades and all the similar lending programs that crutch off of the popularity of cryptocurrencies are nothing but elaborate scams. Many other projects like this one have surfaced in light of Bitconnect’s downfall, Davor Coin is one such example. They’re all hoping to see the same level of success and make millions off of gullible investors — and the crypto world is full of gullible people, unfortunately.

You are paying for a promise to be broken. You’ll get fed sweet lies and believe that you’re making money. But, once it comes time to withdraw your earnings, you’ll end up with nothing at all. This disappointment is slowplayed and in the meantime, you might even invest more because you seem to think the system is working in your favor. You might bring others on board to fall prey as well. Unfortunately, no one makes it out “alive” and everyone ends up getting scammed. Ponzi schemes are the worst and buying into it as a way to make money online will leave you badly burnt.

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