Caution! BitThor is an offshore company! Your funds may be at risk.
RECOMMENDED FOREX BROKER
BitThor Key Features
🔴 BitThor provides access to an unlicensed crypto brokerage- a warning sign!
🔴 BitThor is not overseen by any regulatory body- a red flag!
🔴 BitThor does not provide its clients with any of its contact information- a red flag!
🔴 BitThor operates on an extremely young and unpopular website- a red flag!
BitThor Products and Services
BitThor claims to be a crypto CFD provider. The company supposedly allows you to trade crypto assets on its platforms – which we sincerely doubt. You see, BitThor is not licensed in any capacity, as we will discuss further below.
But without a license, there is no guarantee that a broker like BitThor can even allow you to trade at all – it could very much have it seem that way. What’s more, BitThor is only focused on crypto assets, which are often used by scam brokers to attract more clients. And BitThor claims to provide access to a leverage of up to 1:125 – which no legitimate broker would allow for an asset as volatile as any cryptocurrency pair!
Cryptos went to become extremely popular, and they come with tremendous profit potential, but the assets are pretty complex and a bit enigmatic for the vast majority of people. Bitcoin is still surging, and the entire crypto market is growing exponentially, but all investments carry significant risks, such as high unpredictable volatility and absence of regulation, for example. And we’d also like to emphasize the fraud risk- crypto scams are virtually everywhere. In fact, the latest trend among scammers is to create fraudulent websites offering fictitious crypto investments and mining services aimed to entice unsuspicious investors into scam settings. The fraudulent offers usually stick to the rule “sounds too good to be true”, the entity offering the services is totally anonymous, and there is no regulation whatsoever. So, based on the products and services offered alone, we can affirm that the entity under review is dangerous. You’d better avoid it.
That said, it’s worth considering trendy cryptocurrency alternatives that have already proven to be reliable. For example, many cryptocurrency exchanges like Coinbase and Bitstamp already provide passive income opportunities like BTC and ETH staking, other earning opportunities, affiliate programs, so on and so forth. Both mentioned are law-abiding financial firms that operate transparently, so you won’t be exposed to fraud risks if you trust them.
BitThor Company and Regulation
BitThor is not a licensed company, as we have stated above. There is no mention of regulation at all with the company – and with assets like crypto CFDs you should only seek companies that are fully regulated and overseen by a strict license issuing body, as you would otherwise be dealing with a crypto scam.
So, the crypto service under review isn’t a typical firm, and as such, it’s not regulated. The absence of regulation implies that your investments will be at risk if you deposit. Moreover, you won’t have access to complaint procedures or money protection schemes, so if things go wrong, you’ll be the one to suffer the complete loss. Even more so, the digital coin transactions are anonymous, so if you get scammed by a shady crypto provider, you can’t get your money back.
Indeed, cryptocurrency regulation has been a hot topic for a long time. The digital coins themselves are not issued or governed by central banks, but too many countries already have plans to introduce centralized cryptocurrencies. Still, Bitcoin is a peer-to-peer payment system that’s considered too risky for many. However, many crypto firms are now operating with financial licenses; they are transparent, and their clients can benefit from certain customer protection measures if things go wrong. And that doesn’t apply to the entity under review, which is an anonymous and most probably totally illegal enterprise that can switch off its servers, pocket clients’ money and get away with the crime.
BitThor Address and Contacts
BitThor does not provide us with any of its contact information – and that is incredibly concerning. A lack of transparency is usually a telltale sigh one is dealing with a scam – as you can imagine, scammers are none too eager to allow their clients to contact them directly or allow them to seek legal action. Always stick with legitimate companies which can be held accountable if they decide to run a scam!
Considering investment opportunities, transparency is always crucial. As for cryptos, you already know that Bitcoin is a peer-to-peer payment system, which is designed to protect the privacy and to provide security. However, that doesn’t mean that the crypto providers should also be anonymous. After all, these people will handle your money, so you should at least know who they are and where they operate from. In fact, we need to note that some trustworthy exchanges don’t reveal such information on their websites, but it’s still easy to verify that businesses are legal, law-abiding companies; therefore, it’s always a worrying sign if the crypto provider isn’t transparent.
Bit-thor.com Website Info
|SimilarWeb Ranking||None at the time of writing|
|WHOIS Reg. Date||Unknown|
|Owner||Redacted for Privacy|
|Administrator||Redacted for Privacy|
Is BitThor Safe?
BitThor is not a safe place for your money – after examining the company’s business model, its lack of regulation and its complete and utter lack of transparency, we can only come to the conclusion that BitThor is running an elaborate scam. Stay safe – avoid scammers like BitThor!
Scammers are always riding the trends, so it’s not at the least surprising that cryptocurrency fraud is now blooming. Even more so, the high-tech nature of Bitcoin actually facilitates scams as most people don’t really know how crypto works, so scammers take advantage of the lack of understanding. Indeed, the crypto scam has been here for a while, and it proved to be extremely dangerous- just recall OneCoin, which happened to be a multi-billion Ponzi scheme disguised as a revolutionary digital currency. However, scammers rarely go out of their comfort zone, so most crypto scams happen to be very similar to the typical investment fraud.
The fraudulent crypto schemes are also anonymous and illegal, while scammers introduce themselves with fake identities. There are also too many impersonators resembling the websites of valid start-up companies from where customers get redirected to other insecure fishy payment portals that may as well carry additional security risks. The cons yet again promise the moon and the stars to their victims but won’t deliver a thing in the end. However, the difference between crypto and the rest of the investment scams is that people are more likely to believe that they can become rich overnight as Bitcoin has already proved to have massive profit potential. In any case, you should be very cautious when it comes to crypto, as the markets are plagued by scammers ready to take advantage of you.
Hello, I invested around $1000 into bitthor since I won a giveaway from a discord server that was worth around $8,000 in bitcoin. I went to check the website to see if I could access my account, but the website seems to be shut down. Is there a way I can still get my money back?