- Long-Term Earning Potential
- Training Quality
- Value for Money
- Short-Term Earning Potential
BitPlaza is almost certainly an expired HYIP programme.
- Expired HYIP scam.
Opinion Disclaimer: the content in this review is ultimately a reflection of my own opinions and is not intended to malign any religion, ethnic group, club, organization, company, individual, anyone, or anything.
|Type:||Expired HYIP crypto scam|
|Rating:||< 1 / 5|
|How to Join?||Don’t|
Welcome to my honest BitPlaza review.
Bitcoin scams are rife at the moment.
And that’s exactly where I came across the BitPlaza.biz domain.
Is BitPlaza a scam or legit?
In addition to signing up to BitPlaza myself to see how it works.
I also did some pretty thorough research on BitPlaza too.
Here’s what I found out.
Image source: BitPlaza.biz
What is BitPlaza?
BitPlaza is advertised as a cryptocurrency cloud mining platform.
Where they will apparently allow you to rent their ‘…computing capacities for the cloud mining of cryptocurrencies’.
And they claim to offer you some absurdly high returns on your investments.
The three plans offered are:
- 10% ROI – Daily Forever;
- 600% ROI – After 30 Days;
- 1,500% ROI – After 60 Days.
More on this in a moment.
Who’s Behind BitPlaza?
That’s a very good question.
Because although BitPlaza states that they are a ‘registered’ company (BitPlaza Limited)…
And the Director is listed as Phyllis Baron at the time of writing…
There is evidence to suggest that these details may be false.
I’ll provide more details in the next section.
Is BitPlaza a Scam or Legit?
It looked like BitPlaza was actually legit because some people were apparently getting paid.
There is now a fair bit of evidence to suggest that BitPlaza is a HYIP (‘high yield investment programme’) scam that’s stopped paying.
3 Signs that BitPlaza is a Scam
Just to be honest with you…
I haven’t actually deposited any money with BitPlaza and attempted to withdraw any ‘profits’.
Because my research has revealed the following three points that suggest to me that BitPlaza is to be avoided.
1: Not Paying Out
Check out this thread on BitPlaza’s Facebook page.
And you’ll see that although there are posts from users who did receive payments ‘early on’…
The later comments state that BitPlaza no longer pays out:
When I had a look on Trustpilot for some genuine BitPlaza customer reviews?
I saw a whole list of similar complaints:
Why would BitPlaza bother to pay some users but not others?
This is usually a ‘confidence trick’ to make their site seem legitimate upon first launching.
Thus causing an influx of money to be deposited to the site.
This is a classic sign of a HYIP (‘high yield investment programme’).
HYIPs are usually illegal Ponzi schemes.
Where money received into the programme at the start is used to pay other investors to make the set up look legit.
HYIPs will eventually collapse because people will stop joining up and no more money will come into the system.
The expected lifespan of the average HYIP is 30 – 60 days.
And when that point of critical mass is reached?
The owners will close up shop and take the cash.
Leaving the ‘later investors’ out of pocket.
Which is what appears to have happened with BitPlaza.
2: Unrealistic Earning Claims
Let’s take a step back for a moment.
And actually look at what BitPlaza claim to pay out on your investments:
Such high ROIs are typical of a HYIP scam.
Where these returns are designed to attract an influx of money into the scheme.
And the massive 30 and 60 day ROI increases?
Those are to deter people from withdrawing too soon.
Theoretically allowing the scheme to run for longer and hoover up more money.
3: Company Address Removed
But wait a minute?
What about the certificate from Companies House displayed on BitPlaza’s homepage that ‘proves’ BitPlaza is a ‘real’ company?
You can get one of those certificates for about £12.
Which means that just because a company is ‘registered’ doesn’t mean that it’s legit!
‘The certificate’ is another tell-tale sign of a HYIP scam.
Designed to create an air of legitimacy to draw in more ‘investors’.
But it looks like BitPlaza has been busted.
Because the registered address for BitPlaza has been changed from 26 Fairview Road, London, UK, N15 6BL…
To the Companies House default address.
This often happens when a company cannot prove that they can use that office as a registered address [source].
Conclusion: An Expired HYIP Scam
In my opinion?
Everything that my research has unearthed points to BitPlaza being a HYIP scam.
And an expired one at that.
Even if you’re an experienced ‘in-and-out’ HYIP investor…
It looks like you’ve missed the boat with BitPlaza.
Because it would appear that no one is getting paid anymore.
The bottom line?
Stay away from BitPlaza.
Nothing good will happen if you get involved with them.
- Expired HYIP scam.
What’s the Alternative to HYIPs?
Are you into HYIPs?
Then your next step would be to go and look for a HYIP that’s currently paying out.
Wouldn’t you rather have something that you can rely on to generate a LONG-TERM profit for you?
Rather than hopping from one risky HYIP to the next?
Then I recommend that you monetise your own website!
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(Each with varying degrees of success!)
I have previously worked as a project consultant and content creator in the ‘make money online’ and betting system niches for start-up companies.
But I now specialise in reviewing online money-making systems and products to see if they are scams or the real-deal.
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