A website named Bitonite.com has recently entered the market with the claims of providing huge revenue only by trading bitcoins.
In this post, we will examine this platform and advise you on whether it would be a wise investment for you or not.
So let’s start with some basics.
|Opportunity Type||Crypto Trading|
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What is Bitonite?
Bitonite is a decentralized copy cryptocurrency trading platform that operates independently of banks and states. This platform is created to offer crypto investors a way to profitably grow their portfolio through trustworthy selected traders.
Mertkan Boyraz, the CEO of Bitonite, is not the only founder of the company. Denis Muric and Tanyel Tahtaci, the company’s CSO and CMO, respectively, are the other two co-founders.
According to WHOIS, its domain’s registrant name was redacted for privacy and it was registered on January 2023.
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Bitonite Joining Process
To join Bitonite, you have to sign up on Bitonite’s website using your email address. After that, you have to top-up your account with BTC and follow a trader.
By following a trader, you will be deducted automatically a one-time entry fee depending on the category of your balance. Following is a description of the balance deduction based on the top-up amount:
|Top-up amount||Entry fee|
|$0 – $1,000||12.5%|
|$1,000 – $5,000||10%|
|$5,000 – $10,000||7.5%|
|$10,000 – $25,000||5%|
|More than $25,000||0%|
Bitonite also offers educational courses.
Bitonite Academy is the company’s sole product or service at the moment. Bitonite provides two types of packs in this program; Basic and Pro. Each pack includes educational videos on NFTs, Web3, and Metaverse, along with how each can be useful in cryptocurrency trading.
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Bitonite Income plan
There are 4 ways to earn money in Bitonite:
1. Bitonite Crypto Copy Trading: cryptocurrencies have been a good investment source for a decade. They use Bitcoin copy trading because Bitcoin has always reached higher lows and higher highs in the past.
Users can anticipate a monthly ROI of 7–10% under this income plan because that is the company’s monthly goal
2. Funded Capital Copy Trading: In this income plan, the investors have the opportunity to trade funded capital and increase that by Bitonite traders.
The investor is free to decide which funding program he wants to use. There are three programs available:
- $100K funded capital
- $200K funded capital
- $300K funded capital
You can withdraw money in two phases and there should be at least a min percent of profit; 75% of min 8% profit in phase one and 80% of min 5% profit in phase two.
The yield for each of the three programs is listed in the table below
|Funding program||Prize||Phase one||Phase two|
3. Bitcoin Affiliates: This is the primary income source in the company. You can promote its educational courses and funded capital program to new users and you will get direct commissions and several rewards in exchange for that.
4. Rank Bonus: After promoting these things and adding new users to your downline, you will attain different ranks in the company which guarantees fixed rewards.
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After examining the company’s income plans, we discovered many red flags regarding the business model of this company. Let’s take a closer look.
Not Registered Anywhere
The company has explicitly stated in its income plan that they are not governed by any bank or state legislation, which demonstrates that they are not registered anywhere and are not subject to regulation.
A business that seeks investments from common people must be registered somewhere and adhere to a set of regulations established by that nation for conventional banks.
Additionally, there is no information available about its locality on its website and they have registered their domain anonymously which brings strong suspicion among its users.
Confusing Income Plan
On their site, they have established several ways to make money, but none of them show transparency, such as how the revenue plan will generate profits for the company and its consumers.
For instance, they state in their affiliate program that ranking is determined by volume, but they don’t specify how they will determine volume or what the other components of volume are.
Lack of Information
Bitonite’s founders and operators are trying their best to fool people with marketing gimmicks.
They are showing their Academy section under the coming soon section, but are eager to raise maximum public funds. From seminars to webinars on social media, its founders are glorifying the cryptocurrency market to get investment.
Also, they are operating through Dubai, which lacks basic finance governance due to over-liberal policies.
Morever, Bitonite.com is filled with bluff content and lacks to provide fundamental information about their concept.
Money Circulation Fraud
The business model and income plan of the company seem to be a ponzi scheme. These ponzi schemes are typically designed to deceive customers by promising unrealistic ROI.
The majority of the company’s founders and top executives receive enormous profits in these types of schemes, while the general public receives nothing. Such schemes are outlawed in certain nations.
Should I Invest in Bitonite?
Investing in Bitonite will be a huge mistake for any investor. As they are launched recently, so they will provide high returns to their investors to lure more people.
We have already exposed various such scams and nowadays cryptocurrency is the best way to loot people around the world.
So please don’t be greedy and get fooled by such serious scammers.
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