Monday, April 21

Bitco Financial (bitcofinancial.com) Review

Hello everyone,

On 19th of April DavidNews.com monitor joined fresh program and from the first sight it may seem strong. The name of the program is Bitco Financial, it presents itself like trader of cryptocurrencies. Strange, but you can invest just with Bitcoin, with other cryptocurrencies like Litecoin or Namecoin it is not possible what just proves that Bitco Financial is still a 100% ponzi scheme.



Review edited and first paragraph added on 2014-04-26:
After publishing this review most likely admin understood that compounding for the first investment plan is not really smart idea and he sent out following newsletter today:
The first plan will continue to pay you 5% daily everyday (calendar days) for a period of 30 days which gives you a total of 150%. Now that is plain and simple. The compounding option that was available to the early Bitco Financial members will no longer be available for this plan now. There were a few members who enjoyed the compounding feature in Plan 1. They will continue to benefit from the compounding offer as they invested during the Launch. From now on, the compounding feature for Plan 1 has been omitted.
I'm sure after reading my negative review admin took calculator in his hands and understood that if he would keep compounding for 5% daily investment plan then the program would just collapse in the moment when he would need to pay first principles back. But another thing is that there also "new" second plan what is not that good because you can withdraw principle anytime, although it also could be a trick to attract some more money.



I'm sure the admin of Bitco Financial is experienced player, but surely he is the old-school type. I see that there is some people who cheer about Bitco Financial design, but lets be honest - it is nothing but something straight out from 90ties. It is worth not more then five bucks and most likely it is job by some student from fiverr.com. From the first sight it might seem that Bitco Financial is available in four languages, but when you click on the flags Google translator jumps into the game. While from outside it might seem that program could run a long period of time, it seems that it will not be able to run even a single circle. First impression of course is good because program in some unique way stands out from the crowd, but when you take a deeper look at the program you get this feeling that it is better to wait and observe how this program will develop. I personally would not invest my personal money in this project. For now program is online not even a 10 days and it is difficult to predict anything, but I'm sure that about Bitco Financial I will write soon and I hope it will not be an article about fast scam.

When you look from outside it seems that the biggest con of Bitco Financial is attractive investment plans, but when you take a closer look at the plans turns out that they are the biggest fail of the project and surely they will take the program down. Lets talk straight - Bitco Financial offers compounding. I'm not sure if admin even took calculator in his hands when he designed investment plans. How you can offer compounding for investment plan what pays 5% daily for 30 days? How, how, how? From $1000 deposit it will generate 432.19% (332.19% profit) return what obviously is not possible to pay back. If you are a serious gambler then you can try just a one investment plan, the one what pays 5% daily for 30 days and maybe you will be able to reach break even, but I'm not sure about that.

There is two investment plans with Bitco Financial the first one is pretty straightforward and offers 5% daily for 30 calendar days. If you will invest some money in this plan it will make nice 50% profit if program will be able to survive for 30 days. The second investment plan offers 2.5% daily for unlimited time, basically you can withdraw your principle anytime but of course it is tricky because previously there were no such option and this is only for first investment plans.

In Bitco Financial you can place your deposit with variety of payment systems, popular ones like Perfect Money, EGO Pay, cryprocurrecy Bitcoin and PAYEER and some unpopular ones like Solid Trust Pay and PexPay. Deposit is added automatically, but withdrawals are paid manually and they will be processed in 24 hours time-frame.

Project is running on licensed goldcoders script. Hosting and DDOS protection is provided from ddos-guard.net and domain name is purchased for 3 years.



Over-shiny website, 150% profit and 100% compounding may sound attractive for some investors, but I have a big question for the admin - is he that professional to pay returns for more then one circle? I'm sure even admin can't answer to this question because if he would have intention to play long term game he would not allow to compounding for the first investment plan. In the end I want to say that Bitco Financial project is made for serious gamblers, the ones who live ten years ago when projects indeed were able to deliver such interest like Bitco Financial offers, not today. If you plan to invest then invest only the smallest amount of money what you can afford loose.



David
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5 comments:

  1. Why admins keep insisting in compound I'll never know.

    ReplyDelete
  2. Because nobody uses compounding. We withdraw our money asap.

    ReplyDelete
  3. Perfect program - wrong plans...

    ReplyDelete
  4. I think you would be surprised. Often time I have to discourage people from using it, I think many newbies use it and end up losing money.

    ReplyDelete
  5. There is a legal company that helped thousands of investors to get back their MONEY from scam HYIPs, contact them friends and recover your money now, their email is RecoverLostMoney@gmail.com .

    ReplyDelete

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