Yet again another Ponzi scheme.
So I was looking for new sites to invest in recently and I found bitgrow.biz. At first site I thought it was legit due to it being a registered UK company but red flags went off as I saw the rates which are seemingly part of a Ponzi scheme as no real company offers these kinds of ROI.
REASONS I BELIEVE THIS IS A SCAM:
- Little to no other reviews of the site: I googled the site for other reviews and payment proofs. However, no reputable sources have reviewed the sites and all the reviews that are currently out are of poor quality. This makes it look like a scam as surely their would be some proof of payment with such high ROI, should they actually pay.
Their promotional video: simply put, this looks like it was bought for 5$ on fiverr. Furthermore, they show cloud mining gear in the background despite claiming that they are "professional" traders.
They're not popular: if this website was legit, paying and not a Ponzi, then it would be extremely popular due to its high ROI. Of course, this is a relatively new site but surely would be more popular if it truely did pay.
Some things I've noticed are that they offer a debit card to any investors with over 10 bitcoin deposited, this is highly unlikely as if someone has got 10 bitcoins invested wouldn't there be some payment proof?
Verdict:
From what I've seen, I class this as a scam or Ponzi. Obviously, you can do your own research and of more depth than I have but I think it's too good to be true. Despite, I may invest 0.001 bitcoin just for payment proof and to verify for sure that the site does pay.
One thing else:
They have been classed as a Ponzi scheme on this site.
Anyway, please reply if you know anything further about this site or have invested in it.
Currently I have .056 BTC tied up in BitGrow and they are paying out regularly and quickly. I agree it is a high risk venture, but so far it is working out for me.
I've tied up 0.006 , gonna try break even. Will update.