Bitstar Mining is a company that you should avoid. There is no point in sugarcoating, and investors should consider this as a Ponzi scheme. Whoever is behind this ventureâ€™s sole intention is to defraud people. Stay away from the entity for the sake of your safety.
Nonetheless, the platform is allegedly trading and mining BTC and ETH. The red flags are apparent and without further ado, stick with us as we expose the fraud. The entity has insufficient information regarding its investment activities.
We do not know the location of their mining farms. Moreover, the distribution charges for the customers are hidden. The dubious broker creates more suspicion. The company additionally fails to mention the technique it utilizes in trading.
Bitstar Mining accepts a minimum amount of $100. They also have a referral program that rewards investors for getting more customers. Their lack of transparency makes us not recommend them to the public.
The company wastes time speaking about the history of Bitcoin instead of showing investors the perks that sets them aside from their competitors. You can educate yourself about the history of BTC by reading free material on the internet. There is nothing new about this entity.
Increase your revenue by choosing the best mining companies in the world. You can even buy various cryptos on the top exchanges in the world. These platforms have established themselves and the testimonials of their customers boast their transparency.
Bitstar Mining is a tactical Ponzi scheme that promises clients new BTC for referrals. There is no need to worry for those that missed the BTC Boom. They also assure customers of outsourcing payout in their accounts for a lifetime.
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It means that there is no expiry of the contract that one purchases, which is absurd. The narrative might sound appealing to many. However, we suggest that you stay walk and learn to note when the deal is too good.
Bitstar Mining doesnâ€™t help clients re-invest their funds. If you want to lose money fast, then venture with this scam. Cryptocurrencies are very volatile, and recently, we have seen BTC drop in value by up to $2M.
Nobody predicted this happening, but still, a company like Bitstar Mining only promises profits. Please stay away from such brokers by believing their fantasy you contribute to making them rich. Look out for yourself and invest wisely.
How Does Bitstar Mining Operate?
Bitstar Mining is a company that we took our time to review keenly. Before you register for this venture, we suggest you take time and read this unbiased analysis of the firm. The venture has several negative reviews from its clients.
They are getting their customers from referrals. Nobody will blame you for trusting this scam. Such firms are very luring and with lead you on, and once you realize withdrawals are not processed, it will be too late. It takes time before becoming the best investor.
Bitstar Mining does not disclose the fees they charge to investors. Moreover, the firm is unregulated, which is another huge red flag. The broker is most likely not going to process withdrawal requests.
Investment Plans of Bitstar Mining
Bitstar Mining claims it has a revolutionary investment plan. They have a cycle for every pool. The platform guarantees a payout of $4000 after the investment of $2500. Sadly, the entity does not disclose the duration of the maturity.
They distribute returns every month. You can receive from 10% up to 40% ROI. The return keeps growing by the will of investors to deposit more money. They have 6 cycle pools. The venture allegedly has 511 mining rigs.
However, you should not be quick to believe them. The uncertainty surrounding this entity should keep you off. The cost of mining makes it hard for individuals to start their mining pools. This is the reason they end up deciding to join companies with hardware.
You can also make a decent amount of income by trading digital currency. Nonetheless, you need to invest in the best platforms. It would help if you learned to detect Ponzi schemes in the market through their shadiness.
Customer Support and Contact Details
The locale of Bitstar Mining is in Bangladesh. Investors can contact the company via email or phone. The offshore entity, however, cannot be traced once it exits the industry. Con artists act smart and provide false information to gain the trust of clients.
The platform is operating anonymously without caring about the experience their clients get. It is likely for the suspicious firm to decline to answer the query of their customers. Invest with a company that has an operational office that you can visit whenever the need arises.
Moreover, you can also call them and inquire about your funds. No one is overseeing the activities of Bitstar Mining. Sharing your data with the entity is a big mistake. They can even sell your info to a third party.
Regulation and Registration
The investment firm does not have a license or a registration form. The entity is taking money from investors all over the world illegally. They do not care about the law or fund safety. Before you invest, the first thing to check is whether an entity is operating legally.
Bitstar Mining being an outlaw, does not follow the set guidelines of financial bodies. Therefore, the company can inflict charges whenever it pleases without disclosing. They can also refuse to process cash-out requests. Even worse, the fraudsters have the power to close down their website. The entity is collecting funds illegally, and you should not give them a chance to defraud you.
Bitstar Mining False Testimonials
Bitstar Mining has multiple clientsâ€™ reviews on its website. The tactic isnâ€™t new to us as other misery investment companies feature such deceitful statements. The information insinuates that the venture is generating returns.
Individuals can now operate BTC wallets and make money in the comfort of their homes. The withdrawal process is swift. However, there are no names, links to social media profiles, or pictures of the people who leave these remarks.
Therefore, it becomes impossible to prove the information is indeed legit. Nonetheless, scammers usually write the testimonials themselves. They manipulate data to confuse investors with less knowledge about trading.
The Domain Insight
Bitstar Mining is a platform whose registration occurred in August 2020. The information is public, and you can access it by visiting the Whois.com website. The broker is registered for only one year in the market. Fraudulent firms exist only for a limited time in the market. They know by then they will have attained the goals or be exposed.
Bitstar Mining is a platform that operates as it pleases. We do not know the mining hardware or software that the company is using. Additionally, the Hashpower which the clients get is undisclosed. The venture brags about its mining and trading two of the best cryptocurrencies in the market.
Unfortunately, there is no evidence customers are going to get any returns. The company operates as a pyramid scheme. They offer lifetime profits which are ridiculous given the nature of cryptos. The venture is unworthy of investorsâ€™ trust.
Invest with genuine cryptocurrency mining companies that are famous. The ventures have attained success by putting their customers first. You can also view their performance to make the best decision.
Is Bitstar Mining trading Cryptocurrency?
Unfortunately, the company is not trading. It is a pyramid scheme relying on referrals.
Is Bitstar Mining Located in the UK?
No. The company local is an unresolved mystery.
Does Bitstar Mining has a License?
No. The company is an outlaw.
Are the payment method of Bitstar Mining secure?
No. The company uses methods that don’t allow investors to issue a chargeback.