Bit-nova Review: Scam? Or Genuine Site to Invest?
Bit-nova Review
A new website named Bit-nova is launched just a few days back. It offers an investment platform to its members. Bit-nova allows its members to use its platform to invest in cryptocurrencies. Crypto-currency is cryptic nature for many people around the world.
Many people do earn by investing in Cryptocurrencies. Cryptocurrency is the most volatile product in the investment market. Many people are sceptical about them because cryptocurrencies are not backed by any assets or government.
Recently, Bitcoin saw a major drop in its market value without any reason. Therefore, nobody can guarantee anything regarding cryptocurrencies. Still many websites like Bit-nova assure their members some per cent of daily or hourly interest.
Is Bit-nova a real deal? Or is Bit-nova another scam site? In a general sense, a company is a scam when it does not fulfil its promise. But HYIP sites like Bit-nova do pay to their members. Yes, it is true. In the initial period of the website, they pay regularly to some of its members.
When people receive passive income with a good return they try to get more of it. Later, members invest a large amount of money into the HYIP site and never receive their money. Nobody has made a big profit out of HYIP websites like Bit-nova.
In our opinion, Bit-nova is not a good site to invest in. We do not recommend anybody to use HYIP sites. If somebody is a daredevil then he/she must understand the risk of investing in this website.
The risk is simple, receiving money will totally depend on the mood of a person/people who are running the Bit-nova site.
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Why Bit-nova is not-recommended?
Ponzi Scheme Model Used
Bit-nova website is using the Ponzi Scheme which is an illegal scheme and already banned from almost every country on the earth. Companies who use Ponzi Scheme always offer unrealistic returns which we don’t listen to in real life.
For instance, Bit-nova offers 4-5% return daily for 30-40 days duration. Companies using Ponzi Scheme never have any real business. Bit-nova do explain that
“The company works in three directions. ICO – sale of certain crypto units to investors, obtained by generating. Mining – rewarding digital coins for solving complex mathematical puzzles. Computer power is involved in calculations. Exchange – sale-exchange of one kind of cryptocurrency for another.”
These days whenever people read some technological terms they start believing any scheme. Terms like cryptocurrencies, crypto mining, data analyzing, Artificial Intelligence, etc. We are watching Bit-nova-like websites from 2016 and we are certain that Bit-nova is not different and soon it will shut down.
Ponzi Scheme is the one where a company pays its old investors from the money invested by the new members. In short, the company won’t have any legit ways to earn a profit on its members’ deposits. They just want to collect a big amount before shutting their site down.
MLM Scheme or Affiliate Program
MLM scheme promises its members that they will earn a passive income by making new members or from the earning of its members. Bit-nova is using 2 levels of affiliate programs for each and every investment plan.
Under it, a chain of members is created and every member is offered 2 levels of referral commission. A referral is a great method to earn a passive income. But on sites like Bit-nova, it takes the form of an illegal scheme that is created to give false hope to people and cheat them.
Such schemes are very beneficial to scammers. Scammers show a dream to earn more money easily. People want that and fall into scammers’ traps. Many people are aware of the work of scammers and they save themselves from platforms like this one.
Still many people yearly fall into scammers’ traps. Therefore, it is important to understand that becoming rich by doing genuine work and investing using your own brain is much more beneficial than putting your money in the hands of some unknown people.
Information of the Owner
Bit-nova website seems to be a company same as mutual funds. But all the genuine and original mutual funds never claim to provide a definite return. They show some probability to get a good return annually but never claim how much and it’s never unrealistic.
All the genuine platforms where we invested we know the company and the people who manage them. It is the most basic property that differentiates scam and genuine sites. Scammers always hide their information. They never provide their info on their website.
Bit-nova has not shared anything about its owner or parent company. They have guarded their info in WHOIS records which is a characteristic of a scam site. If you want to know which website is right to invest then check their owner info, if the information is easily accessible then the site is genuine.
Other similar scam sites are Capitalincome.ltd, Dailyprofit, Realbigprofits.live, Ibpmoney, Dogemining.
Final Verdict
Bit-nova is not a place to invest your hard-earned money. Please do not use any HYIP platform to make short-term money, as you will get your money back or not it totally depends on the anonymous people behind this website.
Share this article with others and make others aware of these common red flags found on scam websites. Any thoughts about the Bit-nova review are welcome. You are most welcome to share your story, ideas, views, and experience with others by writing in the comment section.
If you think you get scammed then read the article: What to do next when you get scammed?
There are many reasons why we fall for such kinds of scams. Read the following article to clear your perspective, Why We Fall Into Scam?
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