Beware! BitPlam is an offshore broker! Your investment may be at risk.
BitPlam Key Features
🔴 BitPlam offers suspicious investment and MLM opportunities. A scam sign!
🔴 BitPlam has already been reported as a scam. A red flag!
🔴 BitPlam is totally anonymous. A red flag!
🔴 BitPlam creates high expectations. A red flag!
BitPlam products and services
BitPlam is presented as a management system and an MLM scheme that's offering opportunities that certainly sound too good to be true. For example, the Starter account purportedly brings 120% profitability after just a month, and that certainly doesn't sound like a legit offer. And things escalate if people deposit more than $5000- BitPlam claims it can secure 200% net profit after 40 days. So, BitPlam is an HYIP and potentially a Ponzi scheme, given the generous payouts for its referrals.
HYIP stands for High-Yield Investment Programme and these businesses usually promise higher ROIs (return on investment) than usual. In some cases, the offers are just ridiculous- up to hundreds and thousands of percentages per day, which certainly can't happen. To draw a comparison, even the wealthiest banks or investment funds are not capable of delivering more than 10% per year, let alone per day or week. Therefore, the products and services assessment suggests that you'll be at risk if you deposit.
That being so, it's worth considering trendy alternatives that can help you build an extra income, such as Forex brokers PAMM managed accounts, social trading or crypto services that may as well fulfil your investment needs. For example, many cryptocurrency exchanges already provide passive income opportunities like BTC and ETH staking but make sure to subscribe to well-known, proven networks.
BitPlam company and regulation
BitPlam shares no corporate information whatsoever. Additionally, we found no licensed companies associated with BitPlam, so it's not authorised to sell financial services to the public. So, you'll remain unprotected at all times if you invest with BitPlam, and that's only because it's unregulated.
The lack of regulation implies that the people operating this HYIP are working unchecked, meaning they can misuse or misappropriate your funds, eventually bearing no responsibility for their actions. To draw a distinction, regulated investment companies are forced by law to follow certain rules that guarantee the safety of clients' funds. For example, to get a license, a firm should meet minimum capital requirements that vary from country to country and may also depend on the product specification as there are many types of investments possible- stocks, bonds, mutual funds, banking products, fixed-income, retirements and so on.
In the US, the minimum capital requirement is 20 million USD, which happens to be among the heftiest in the world. Other than that, US financial services companies are also required to keep accounts segregated, thus ensuring that clients' money can't be exposed to unnecessary risks or stolen. However, it's worth noting that the US regulatory framework is very complex as there are numerous financial authorities, among which NFA, CFTC and SEC, to name a few, and all of these monitor companies in one way or another. The US markets may be tricky for the ordinary investor, so make sure to acquaint yourself with the environment before you've wasted money on potential scams like the one under review. And you'd better avoid unregulated investment businesses at all times.
BitPlam address and contacts
BitPlam shares nothing for itself except for two e-mails: [email protected] and [email protected]. No addresses and no contact numbers are available, so BitPlam proves to be totally anonymous, and as such, it's more dangerous for clients. Beware!
When it comes to investing, transparency is crucial as you should know who's running the investment and where your money actually is. Legit firms always operate transparently and are bound by law to provide the public with basic corporate information, including addresses, contacts and legal documents disclosing all provisions related to the service. And our experience shows that it’s most probably a scam if you can't reach anyone over the phone given, can't validate the addresses or can't in any other way prove that the investment provider has the authorisation to offer financial products.
BitPlam.com website info
BitPlam.com was registered on 30.08.2021- it's currently less than 3 months old, so the domain age alone makes it a risky entity nonetheless. At the same time, BitPlam claims to have more than 57 million dollars under management, which we consider a highly questionable statement.
BitPlam.com is hosted on 190.115.29.249, a Belize IP address co-hosting no other domains at the time of writing.
BitPlam.com is ranked at 23,289 by Alexa is, so it's too trendy for its age. That's an alarming sign, though, as we already know that BitPlam isn't reliable!
BitPlam.com uses privacy protection services to hide the website's ownership.
Scam warning
Dealing with HYIPs and other unregulated investment providers is not recommended for many reasons. Above all, the absence of regulation strongly suggests a scam as only regulated firms are authorised to provide investment services. As you probably guess, scams can't flourish in a strong regulatory environment, so you'd better think twice before you've deposited with unregulated investment schemes.
The authorisation is only granted when the firm complies with the requirements and standards, which guides how the entities should treat you as a customer and what sort of information they should give you. Each country's regulator maintains a register of licensed firms and the investment services that each licensee is authorised to provide. On the other hand, unauthorised firms aim to avoid complying with the controls that legal, authorised entities are subject to, thus leaving investors entirely unprotected. Needless to say, scammers want to get you totally unprotected, and that's why they always work without a license.
As for HYIPs themselves, many of these schemes operate precisely as a Ponzi because many investors can actually withdraw initially, but sooner or later, the service will inevitably close. HYIPs usually target traders and investors with little or no experience by promising fictitious investment opportunities said to deliver unrealistically lucrative gains. 10% or 100% per day certainly isn't a legit offer.
robert
want my money —