You are reading our full and unbiased BtcBinary Review. In this report, we will explain everything you need to know about BtcBinary before you sign up. Many of our readers love to join new investments like BtcBinary because it offers a daily earning “forever”. Before you get too excited, you NEED to read our entire BtcBinary review for further information!
If you are reading this BtcBinary.biz review after already losing your money, please leave us a comment below to help warn other readers. It’s always helpful to see real feedback. At the publication of this BtcBinary review, this site is currently paying, but they will NOT be for much longer. BtcBinary is an active Pyramid scheme and will shut down as soon as they have collected the amount of money they are hoping to get. This money will remain their profit and reward for being successful scam artists.
Official Website: https://btcbinary.biz/
BtcBinary is a HYIP or high yield investment program that offers an ROI (return on investment) ranging between 10% – 20% daily. However much you earn depends on how much you chose to invest. Each plan claims to last “forever” but as you know in the world of crypto mining scams, that means 2-3 months. BtcBinary scam claims to be a cloud mining operation that is registered out of Panama. That’s essentially a worthless statement.
In the last few years, we have busted scores of cloud mining scams, probably close to 200 or more. These scams pop up every so often, most likely created by the same scam artists. They claim to be using your deposit to mine for Bitcoin using cloud mining technology. In reality, they are NOT mining at all. They have created this website to appear to be a legitimate mining site. They take your money and save it up until they have gotten the amount they want, then they vanish with your money.
Investing in Cloud Mining with BtcBinary Scam
BtcBinary offers four different investment plans. The minimum deposit is $10 which they claim gives you 10% daily “forever”. We sincerely hope that nobody is investing in the other plans which require a minimum of $1001 up to $50,000. This is madness as those people will lose the majority of that money. Most people we spoke with had started with $50 and were very excited when they did earn 10% daily.
Please note that most cloud mining and HYIP scams will always show your earnings in your account. This increases your trust and it makes you think that BtcBinary scam is actually growing your investment. Nothing could be further from the truth.
BtcBinary Scam Exposed
BtcBinary is registered out of Panama. What does that really mean? There are websites online that allow you to register online businesses out of London and Panama (to name a few locations). This registration is a pretty easy way to make your company appear legitimate while bearing no legal or financial responsibility. In order to register a business you only have to send in your name an address, and these can easily be faked.
The fact that BtcBinary cloud mining scam has registered their business out of Panama is almost a sure proof that they are a scam. We say that with certainty. Almost ALL of the most recent mining and HYIP scams have been registered out of Panama. And when they close up and steal your money, guess who does NOTHING to stop them? Panama! Panama does not care and can’t chase down all of the many fake businesses that they have allowed to register. It’s really a shame, but please don’t confuse a “legal business from Panama” with a legitimate corporation that you can pursue when you have problems with them.
Who Owns BtcBinary Scam?
The owner and creator of BtcBinary mining is unknown. Whomever he is, he has NOT revealed his identity. The business registration papers from Panama do not list his name. We can only assume that he does not want to be known due to the fact that he is probably a serial scammer and has operated many fake mining sites in the past.
Does BtcBinary Scam Operate Cloud Mining? Is BtcBinary Paying?
One of the biggest lies you’ll see here is the fact that BtcBinary scam does NOT actually mine for Bitcoin. Their website is literally a bunch of lies all packaged up neatly to manipulate you into thinking they mine for Bitcoin. This site is identical to many scams from the past 6 months. And this won’t be the last one!
In reality, BtcBinary is a pyramid scheme that operates by collecting money from investors and then paying small amounts of that money out in withdrawals to members. They typically pay the FIRST withdrawal request of any member. They do this to increase trust. After they have paid the first withdrawal, members began to think that they are truly paying, and they invest MORE money. At this point, BtcBinary will not pay any further requests.
In some cases, members will be paid several times in a row. However, because BtcBinary scam is a Pyramid (Ponzi scam) they will eventually run out of enough funds to pay everyone. They are NOT generating new money through mining, and the only “new money” they have coming in is the new deposits from their members.
Special Alert: Can you recover your lost money with BtcBinary Scam?
Many of our readers locate our blog after losing money with a financial scam. They are hoping to get their money back somehow and they stumble across our blog in an attempt to learn more about how they were scammed and if it’s possible to get that money returned. With trading scams, it’s sometimes possible to do so and we have helped people get their money back from scam brokers.
However, when it comes to HYIPs and mining sites, it’s virtually impossible to get your money returned. BtcBinary scam only accepts payment processors that DO NOT allow chargebacks or disputes. That means that when you lose your money, you are completely out and have no options for recovering your lost funds.
Is BtcBinary a Scam?
Even though BtcBinary has only been open for a few days, we have already determined that BtcBinary is a scam. They have copied word for word several previous cloud mining pyramid schemes, and they have hidden the identity of their owner. We do NOT advise our readers to join this scam nor do we recommend that you take part in their referral program. They most likely will stop paying some time in the next 2-3 months and this includes referral commissions.
If you have a HYIP or mining site or trading software you’d like us to review, please comment below or send us a message!