It has become increasingly easy to spot cryptocurrency-related websites which are a front for a scam. In the case of BitcoinCashTradingLimited, it is not hard to see what is going on exactly. Anyone investing in this company will lose their money, as there are far too many red flags to ignore.
It’s a Fake Company
Even though BitcoinCashTradingLimited has been a registered domain name since July of 2018, it seems the domain will expire in just a few days from today. Even so, no one has seemingly heard of this platform in the past twelve months, primarily because most people can spot a scam from miles away when details are so blatant. There is also no registered entity associated with this website, nor a company registration number of any kind.
Targeting Bitcoin Cash Users
While one has to give credit to these scammers for targeting Bitcoin Cash supporters instead of focusing on just Bitcoin, it seems unlikely that this decision will help matters much. Bitcoin Cash does not have the biggest community, and most of its members are all too familiar with cryptocurrency scams. As such, it seems unlikely anyone has lost money because of this website, but one can never be too cautious.
Fictitious Investment Plans
It is rather evident most of the HYIP Ponzi Schemes in the cryptocurrency industry follow a very straight forward approach. BitcoinCashTradingLimited is no different, as its projected returns are simply impossible to sustain. Ranging from 5% after one day to 100% profit after 30 days, no one should even remotely consider this offering to be genuine. Even the 2% daily for 12 days plan is impossible to guarantee, as cryptocurrency markets never allowed for guaranteed returns.
More importantly, the company does not explain how the money is expected to be generated. While it is obvious they will only pay out as long as new deposits keep coming in, it is safe to assume the funds will dry up sooner rather than later. Their claims of “constant progression” and “friendly support” don’t mean much when they are planning to take one’s money sooner rather than later.
Lots of Confusing Information
Despite the website focusing on Bitcoin Cash, their main page makes multiple mentions of how to invest with Litecoin, which is also a supported currency. Users will also allegedly earn 1% daily for the lifetime of their account, even though the investment plans state something else entirely. It seems little work has been put into updating this template to suit the site owners’ needs, for some unknown reason.
To make matters worse, the site name – BitcoinCashTradingLimited – is used alongside Traders.com, and TradersLimited.com. As such, no one knows for sure who is pulling the strings until the domain name expires. Its acceptance of Perfect Money, Payeer, and Ethereum – despite using the Ethereum Classic logo – only add more confusion. This is clearly an unprofessional website which should not be trusted with one’s finances.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency or digital currency.
The post Low Effort Bitcoin Cash Ponzi Alert: BitcoinCashTradingLimited appeared first on NullTX.
Cryptocurrency is a digital currency that uses encryption (cryptography) to regulate the generation of currency and verify the transfer of funds, independently of a central bank. Cryptography is the practice and study of techniques for secure communication in the presence of third party adversaries.
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