Beware! ExcessBitcoin is an offshore broker! Your investment may be at risk.
ExcessBitcoin Key Facts
🔴 ExcessBitcoin offers suspicious investment oppportunities. A scam sign!
🔴 ExcessBitcoin presents no legal information. Red flag!
🔴 ExcessBitcoin is not working transparently. Red flag!
🔴 ExcessBitcoin has fraudulent Instagram profiles. A disturbing sign!
ExcessBitcoin products and services
ExcessBitcoin is an HYIP offering ridiculously high returns on investment. According to the information we get, they claim that they can increase an initial investment by 300% for two weeks. This is not going to happen if you invest in ExcessBitcoin, but you'll most likely waste your money.
Traders and investors should stay away from HYIPs. It stands for High-Yield Investment Program, which is considered a type of Ponzi scheme promising impossible return on investments. It’s perfectly in line with the scammers’ practices who create unrealistic expectations to entice people into their crooked games. The legit and trustworthy companies can’t in any way secure more than a few per cent gain annually, let alone per day. Judging by the products and services offered, this business is most probably a scam, so beware.
ExcessBitcoin company and regulation
ExcessBitcoin isn't a legal business. We found no licensed and regulated company associated with this HYIP, so that's a scam. We plead with investors to stay away from fraudulent HYIPs and deal with licensed companies only. In this section, we'll discuss why regulation is important.
HYIPs are unlicensed and unregulated, meaning that the people standing behind are not abiding by the laws. The absence of regulation makes it possible to conduct illicit activities, and it’s not surprising that most of the HYIPs are pure scam. The Internet is bustling with shady investment businesses selling hefty deals, so be cautious when you see an offer that sounds too good to be true.
The regulation is crucial because the financial authorities impose strict requirements ensuring customer protection, but also push scammers away. However, the US regulation is quite complex, and there are many agencies taking care to supervise the market such as SEC, NFA and CFTC, to name a few of them. The license in the US is costly, the FX broker and some investment companies have to provide 20 million paid-up capital to become authorised financial services companies. Also, the majority have to keep clients’ funds in segregated accounts, which guarantees that the money is only used for trading and investments and not for covering daily expenses.
There are also many reporting and auditing requirements the financial businesses have to follow. The different regulators impose different rules, but transparency is of utmost importance. Bear in mind that the financial market in the US is very complicated, so make sure to be up-to-date with the latest changes in the regulatory framework. HYIPs are shady businesses not abiding by the law, so make up your mind.
ExcessBitcoin address and contacts
ExcessBitcoin's headquarter address is allegedly 485 Glenridge Rd, Key Biscayne Florida USA. However, apart from their claims, there is no other proof that the people running this business have an actual presence there. The contact number provided is +14088894401, a US phone clear of spam reports and negative reviews.
Transparency is critically important when it comes to investing. The financial authorities around the world are very strict about transparency because it helps fighting scammers. Transparent businesses are less likely to engage in fraud because it would quickly become evident and they would suffer severe penalties as a consequence. The regulated financial companies are compelled to provide the public with their basic corporate information including addresses, contacts and license numbers. This rule is implemented to make it easy for traders and investors to verify that they are dealing with a legit company. It's most probably a scam if you can't validate the company's legitimacy or they are hiding their addresses and contact numbers.
ExcessBitcoin.com website info
ExcessBitcoin.com is a domain registered on the 04th of February 2021, so it's less than two months old at the time of writing. It's registered on an IP address in the United States:104.219.248.113, currently co-hosting more than 2000 websites. Some of those are linked with suspicious HYIP schemes and you can see the reviews by following the links below.
| ExcessBitcoin | R-fxinvestment | GlobalCapitalLimited |
Alexa doesn't even rank the domain, so it’s a highly unpopular website, which people do not trust. The Alexa ranking isn’t so important, but the lack of popularity isn’t a positive sign.
ExcessBitcoin.com uses protection services to hide website ownership. The latest trend in the privacy policy denies it should be a problem, but considering investment services, we might as well dismiss it as a disturbing sign.
Scam warning
The people running HYIPs are experts at using social media, and they lure people by creating the impression that the schemes are legit and trustworthy. But it’s still a shady business and a scam. The con artists will sometimes operate in a pool, maintaining fraudulent payment systems, creating webpages of fake regulators, abusing genuine companies' names, etc.
Many of the HYIP schemes operate precisely as a Ponzi because many investors can actually withdraw and get money, but in the end, the service will inevitably close and people would be left with losses almost impossible to recover. There are so many of these that some scholars and policy-makers even came up with the term Ponzimonium to emphasise that scam is excessively widespread today.
An example of an HYIP scam is OSGold, which is believed to be a $250 million scam. It was introduced as e-gold imitator providing guaranteed monthly returns of 30 to 45 per cent, and it’s reported that they operated 60 000 accounts at its peak. HYIPs are dangerous, so stay away from these programmes.