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BitiNx.com is an Untrustworthy Website

2017-05-10T04:33:58 -  +
BitiNx.com is an Untrustworthy Website

Stay away from www.BitiNx.com because the website is untrustworthy. The untrustworthy website claims that investors can earn a guaranteed 6% profit daily on their investments with a minimum deposit of $10 and a maximum of $500,000. But, we know this is not possible in the real world. Therefore, I do not recommend doing any form of investmenting with the untrustworthy website.

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www.BitiNx.com - the Untrustworthy Website

BitiNx, which the owners claim is an independent and privately owned financial group, is a new website that was created a few days ago. The owners of the website advertise it by sending out thousands of spam email messages daily, in an attempt to trick potential victims into investing in their so-called private financial group. Below is a sample of one of BitiNz.com spam email messages that is being sent daily.

BitiNx Spam Email Message

Deposit now and earn 20% instant bonus

Tue 09/05/2017 15:17
From: admin@biticash.com

To: info@onlinethreatalerts.com

Hello,

Deposit now and earn 20% instant bonus

Earn 6% Daily Profit For 30 Days

Fast Withdraw

hxxps://www.bitinx.com

Good luck.

Websites like BitiNx.com operate like Ponzi or pyramids, where the money from new investors is used to pay old investors.

What is a Pyramid or Ponzi Scheme?

A pyramid or Ponzi scheme is a business model that recruits members via a promise of payments or services for enrolling others into the scheme, rather than supplying investments or sale of products or services. As recruiting multiplies, recruiting becomes quickly impossible, and most members are unable to profit; as such, pyramid schemes are unsustainable and often illegal.

In a pyramid scheme, an organization compels individuals to join and make a payment. In exchange, the organization promises its new members a share of the money taken from every additional member that they recruit. The directors of the organization (those at the top of the pyramid) also receive a share of these payments. For the directors, the scheme is potentially lucrative - whether or not they do any work, the organization's membership has a strong incentive to continue recruiting and funneling money to the top of the pyramid.

Such organizations seldom involve sales of products or services with value. Without creating any goods or services, the only ways for a pyramid scheme to generate revenue are to recruit more members or solicit more money from current members. Eventually, recruiting is no longer possible and most members are unable to profit from the scheme. Once this happens, the owners will take whatever money they have collected and disappear.

Please share what you know or ask a question about this article by leaving a comment below. Also, check the comment section below for additional information, if there is any.

Remember to forward suspicious, malicious, or phishing email messages to us at the following email address: info@onlinethreatalerts.com

Also, report missing persons, scams, untrustworthy, or fraudulent websites to us. Tell us why you consider the websites untrustworthy or fraudulent.

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