BitGoMiningFirm Key Facts
🔴 BitGoMiningFirm offers suspicious financial services. A scam sign!
🔴 BitGoMiningFirm doesn't reveal basic corporate information. Red flag!
🔴 BitGoMiningFirm is not authorised to sell investment products. Red flag!
🔴 BitGoMiningFirm creates unrealistic expectations. Red flag!
BitGoMiningFirm products and services
BitGoMiningFirm is a Bitcoin mining business promising a guaranteed 150% profit with their starter account. Purportedly, each time investors make a deposit, there would be a fixed profit, but the company doesn't specify the term. The VIP accounts are said to bring 300% profits each time, which is a swindling promise. Such a return on investments (ROI) is simply impossible and a fraud.
People should always be cautious when dealing with businesses offering enormously high yields because it's scammers' trait to promise big and create unrealistic expectations. In reality, regulated financial companies cannot secure more than a few percents annually with their fixed-income products. There is a huge discrepancy between these offers and the regulated companies standards. Judging by the products and services they sell, we suspect it's a scam, so beware.
BitGoMiningFirm company and regulation
BitGoMiningFirm doesn't utter a word about the company running this investment platform. In fact, there isn't such a company in existence, so it's a fake entity or an offshore IBC that's impossible to trace. Also, our research showed that this investment scheme isn't associated with legit and regulated companies. So, it's a scam. We urge traders and investors always to verify that they are dealing with legal businesses. That's by far the best way to evade scammers. Read on to find out more about financial rules and regulations and how they secure investors' funds.
The US financial services regulation is very complex in the USA. Derivatives markets regulation is a responsibility of CFTC and NFA. Forex brokers and most of the investments companies have to be NFA members and CFTC registered to operate in the USA. On the other hand, securities markets are controlled by the SEC, a government independent agency responsible to maintain the integrity of the financial markets.
While SEC focuses more on the procedure regulation insisting on financial reports and management discussion and analysis, NFA and CFTC impose pretty straightforward requirements. To become authorised the companies have to provide 20 million USD in paid-up capital, which is considered a guarantee that the businesses can survive in turbulent times and pay whenever they have to.
Other customer protection measures include clients’ accounts segregation and leverage restrictions for forex brokers- 1:50. Also, CFTC brokers’ clients are not allowed hedging, which is one of the very unique US features. Unfortunately, the cryptocurrencies regulation is still inept, so traders and investors should be wary when dealing with crypto offers.
BitGoMiningFirm address and contacts
BitGoMiningFirm doesn't present an address, but they only claim to reside in Liverpool, UK. The lack of transparency indicates these people want to operate anonymously, which scammers usually do. Their contact number is +1(872)999‑7256, a US phone clear of spam records or negative reviews.
Transparency is crucial when talking about brokers and investment companies, and it's part of the regulatory framework. The regulated companies are open to financial authorities following certain transparency rules, so it's generally unlikely to conduct fraudulent activities. They are also bound to provide the public with crucial information about themselves, making it easy for traders and investors to confirm the company's legitimacy.
BitGoMiningFirm.com website info
BitGoMiningFirm.com is a domain name registered on the 21st of January 2021, so it's less than a month old at the time of writing.
It's registered on an IP address in the United States:198.187.29.179 co-hosting more than 600 websites at the time of writing. Many domains based on the same IP belong to HYIPs providers, probably linked to this scheme.
Alexa doesn't even rank the domain, so it’s a highly unpopular website, which people do not trust. The Alexa ranking isn’t a key factor, but the lack of popularity isn’t in any way a positive sign.
BitGoMiningFirm.com uses privacy protection services to hide the ownership of the website. The latest trend in the privacy policy around the world denies it should be a problem but considering it's an investment service, we might as well consider this a disturbing sign.
Below you can see other high-yield investment platforms based on the same IP:
Scam warning
We paid utmost attention to the regulation and transparency in the sections above because it’s mandatory for trading and investments. Pretty much each company offering financial services have to be authorised by the local financial authority.
However, some entities operate unlicensed and intentionally run investment fraud. It would be best if you only dealt with companies authorised by the regulators, so always check to make sure they are. Bear in mind that if you trade with unauthorised businesses, you won’t be protected, so it’s very likely to suffer losses almost impossible to recover if things go wrong.
Online scam is trending nowadays with fraudulent websites popping up literally every day. The financial authorities increase the number of warnings issued year after year, but the dangers are still out there and growing exponentially. You’ll realise the hazards when you consider OneCoin scam- it’s still impossible to calculate the total loss, but it’s regarded as 15 billion worth fraud. Make sure to trade with licensed and regulated companies to avoid off-putting losses.