Bitpetite is one of those HYIP schemes which attempt to lull their first-time visitors into thinking they’re something entirely different. Bitpetite present itself as a btc tumbling service, which might be perceived as a legit, before you dig in. At a closer look though, its true nature is revealed, as we learn that the tumbler angle is little more than the usual “cover-story” for the HYIP scheme within.
What is Bitpetite.com?
Bit petite is a crypto platform that offers returns on a daily basis of 4 percent on your investment. The operators claim that earnings are generated using a currency mixing system. In some other scams that were exposed recently online, a similar concept was used, under a different cover story. All were using creative explanations for their imaginary returns. Here, we have Bitcoin-mixing. But after throughout researches we can confidently tell you that no real bitcoin mixing service is involved.
What exactly is Bitcoin mixing/tumbling?
Normally, any BTC transaction can be easily tracked using the blockchain technology. So in order to allow a certain degree of anonymity, people utilize services which mix their crypto coins within a large pool, making it hard to identify their origins. One then received and equal amount of bitcoin from someone else, minus a fee for using the platform. Many people actually will to use such a service and pay the relevant commission, what makes this type of business model very profitable. They are far from the 4% daily profit mark promised by Bitpetite though, even so.
Can I Trust Bitpetite.com?
Probably no more than you would trust a sleazy used car salesman, which is to say that you obviously shouldn’t. Even if some people did get paid by the operation, it is an obvious pyramid scheme and it will ride off with its victims’ monies sooner or later.
Promises and Features
The creators of Bitpetite claim that they need to have ‘dynamic funding’ so they are able to run such operation smoothly. The plan they provide is not complex: Investors who agree to give their money away, are able to use a feature that automatically calculate for them their expected earnings after sic and nine weeks, depends on the chosen package. Needless to say that the figures reflect bombastic results in order to attract people to join in.
The calculator displays the daily net income in USD, as well as the weekly, monthly and total net incomes, using a 4.5% daily interest rate. The break-even point on the investment is set to about a month from the start.
Question Marks and Red Flags
For a well-versed cryptocurrency user endowed with common sense, everything discussed above is a massive red flag.
The About Us section of the Bit petite website does not offer much in the way of useful background information on the operation. It does link to a Certificate of Registration though, which is in line with what we have seen at most of the other similar scammers. Bitpetite Ltd. has apparently been incorporated in February, 2017. The only contacts are a skype ID and a telegram user.
The domain was initially registered at 2016 anonymously, and it’s also accessible through the dark web.
The bitcointalk forums living testimony to this, most people have recognized Bitpetite for what it truly is: a textbook Ponzi scheme.
At the time of writing this review, the rank of BitPetite.com in Alexa was 13,795, showing some marketers promote it aggressively. Much of its traffic seems to come from countries such as the United States, Brazil, United Kingdom, Venezuela, Russia, India, Spain as well as other countries.
According to SimilarWeb, more than 60% of the people who reach the site are referred via sites, such as mellowads.com and adbtc.top. They also seem to be running a small social media campaign, specifically on YouTube and Facebook.
On the bottom line, BitPetite is not a legit service, but a dangerous scam you should stay away from! If you’ve been scammed by them, please let us know in the comments below!