Bitzone24.com Review Is Bitzone24 a Scam or Should I Invest

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CryptoInfoWatch

You probably have heard of Bitzone24 and wondered if this is going to be your lucky break in terms of cryptocurrency wealth. As a cautious investor, you deemed it proper to conduct some research about the site. This is the appropriate thing to do since we are talking about money here.

It is no longer news that many people are getting rich through Bitcoin and altcoin. The alternative currencies are especially attractive since the ability to build them makes the owners successful if there are enough investors willing buy into the project.

However, not every project out there is genuine but is meant to get people’s money without delivering on the promises. This why you should be careful with your funds and carefully investigate every investment option to avoid unnecessary losses to scams.

What is Bitzone24?

The site claims that this is a cryptocurrency mining firm that is also involved in trading activities. It has the vision on helping its members to transition from traditional investment to cryptocurrencies which it has found quite lucrative.

It further claims that it provides value for members not just through the profit it makes but with a customer service that meets the needs of its customers.

How reliable is This Investment Site?

There are many honest people running their businesses through the internet. The problem is that there are as many dishonest people ready to steal your money if you make the wrong judgment of believing everything you read online.

Bitzone24 is one of those sites that claim what they are not just because they are interested in stealing your money. The rest of the post is dedicated to showing you how they hope to accomplish that and the red signs that show that this is not a site you should invest in.

Who is Behind It?

It is amazing how many people that send their money to strangers that they know nothing about even though they would never give money to the same stranger if they met them on the street.

The internet has made it easy for people to believe what they would not ordinarily do. The reason is that there are so many users of the web who are carried away by what their eyes can see so they believe false claims made by fraudsters behind websites.

Bitzone24 was registered with the Company House, the agency in charge of business registrations in the UK. However, it has been shown that company registration does not imply that such businesses are legitimate.

In fact, fraudsters are known to have registered businesses with which they defraud people. So the idea that a business is registered should not get you deceived.

Bitzone24 was registered on May 10, 2020 according to records from the Company House. The director is one Calvin Dickerson, a British national. However, that is all that is known about him.

We tried locating and identifying this individual but met a brick wall. There is no record anywhere to prove that this is the identity of a real person. This can only mean one thing: this is a fake ID.

Why would a business file its registration with a fake ID? It can only be because the business is a scam that wouldn’t wan t anyone linking it to its operators.

Another HYIP

Fraudsters are aware that the only way they can attract you to their offers is by promising you instant wealth. This has always been their strategy so if you’re one of those who love the no-work quick-wealth concept, it would be very easy to fall prey to scam sites such as this.

Bitzone24 has two investment plans that offer high interest such as 10 percent daily. This means that they’re claiming they could pay you 3 times your investment in just one month.

Why should you believe that anyone could triple your money in a short time just because you invested it with them? If this is possible, everyone would be rich but it is not.

Sending your money to Bitzone24 is a quick way of losing it because you would lose it. Every investor should beware that if any proposal looks too good to be true, it most likely isn’t true.

A company whose owner is not known has no basis to demand investment from the public. It is a sure way of encouraging fraudsters to steal from people.

Conclusion

SEC website is very clear about avoiding shady sites that offer high interest to investors. Such profit propositions are signs that you’re likely going to lose your money.

Legitimate investment sites must be regulated by appropriate authorities. They must have identifiable owners and specify the risks involved in the investment. Anything short of this puts you at risk of losing your funds.

For the site that we recommend, you can check this and get involved in copy trading even if you have no experience. Even though every investment bears risks, it is by far a more viable option that giving your funds to fraudsters.

For your opinions, please use the comment box below. You can also suggest investment sites that you want us to review using the contact page above.

Reporting Investment Fraud

Investment fraud refers to a wide range of deceptive practices that scammers use to induce investors to make investing decisions. These practices can include untrue or misleading information or fictitious opportunities. Investment fraud may involve stocks, bonds, notes, commodities, currency or even real estate. This could include pyramid schemes, Ponzi schemes, pump-and-dumps, advance fee fraud, off-shore scams and other types of scams.

If you believe you have been a victim of investment fraud, we recommend taking these steps to help you move forward.

  1. Create a Fraud File. Start by collecting relevant documentation concerning the fraud in one file that’s kept in a secure location. The file should include:
    • a contact sheet of the perpetrator’s name, mail and email addresses, telephone numbers and website address, as well as any of the fraudster’s purported regulatory registration numbers;
    • a timeline of events, which may span many years;
    • the police report, if any;
    • your most recent credit report from all three credit reporting companies (See box);
    • any evidence of the fraud or deception;
    • logs of any phone conversations, with dates, names and phone numbers of any representatives with whom you spoke, and notes on what information they gave you; and
    • any other relevant documentation concerning the fraud.
  2. Know Your Rights. You have rights imparted by federal and in some cases, state law. Learn about your rights to better protect yourself.
    • For federal victim rights, the U.S. Department of Justice provides information on victim rights and financial fraud.
    • For state victim rights, check with your state Attorney General.
    • The North American Securities Administrators Association (NASAA) publishes an “Investor Bill of Rights”.
    • FINRA offers information on conduct that is prohibited in the securities industry.
  3. Report to Regulators. The entities below are the national, federal and state regulatory agencies for investment products and professionals. You may benefit from reporting the fraud to as many agencies as apply.

Financial Industry Regulatory Authority
9509 Key West Avenue
Rockville, MD 20850-3329
Phone: (301) 590-6500 – for all investors
Toll Free: (844) 57-HELPS / (844) 574-3577 – FINRA Securities Helpline for Senior Investors TM

U.S. Securities and Exchange Commission (SEC)
Office of Investor Education and Advocacy
100 F Street, NE
Washington, DC 20549-5631
(800) SEC-0330

North American Securities Administrators Association
Find contact information for your state-specific securities regulator.
(202) 737-0900

National Association of Insurance Commissioners
Find contact information for your state-specific insurance regulator, report fraud or file a complaint.

National Futures Association
Compliance Department – Customer Complaints
300 South Riverside Plaza, Suite 1800
Chicago, IL 60606
(312) 781-1467

U.S. Commodity Futures Trading Commission
Office of Cooperative Enforcement
1155 21 Street, NW
Washington, DC 20581
(866) FON-CFTC / (866) 366-2382

Internet Crime Complaint Center
A partnership between the FBI and the National White Collar Crime Center

  • Report the Fraud to Law Enforcement. Reporting the investment fraud to law enforcement is important to begin the recovery process, ensure the responsible parties are investigated, and prevent further damage to other individuals.
    • Local Law Enforcement – Contact any local law enforcement office to file a police report.
    • District Attorney – Contact your local District Attorney’s Office.
    • Attorney General – Contact your Attorney General’s Consumer Protection unit and the prosecution unit to report the fraud. Find contact information at www.naag.org.
    • Federal Law Enforcement – Contact your local FBI Field Office or submit an online tip.
  • Report the Fraud to the Federal Trade Commission. To file a report with the Federal Trade Commission (FTC), contact the FTC’s Complaint Assistant.
  • Consider Civil Remedies. You may be able to recover some of your lost assets through arbitration, mediation, or a civil lawsuit. If a securities broker is involved in the fraud, you may file an arbitration claim with or without an attorney. FINRA offers an overview of the dispute resolution process.

    In some cases, the best potential for recovery of lost assets is through civil suits. Civil attorneys who work for victims of financial fraud can analyze the particular facts and circumstances of your case and counsel you on the available civil remedies. You should be aware that civil lawsuits take time, and even if you prevail, it can be difficult to collect on a judgment, especially if money or other assets have disappeared.

    The National Crime Victim Bar Association and the Public Investors Arbitration Bar Association can provide referrals to attorneys who litigate on behalf of victims of crime or injured investors, respectively, who may offer you an initial consultation at no cost or obligation.

    In addition, some law schools provide services to victims in the form of investor advocacy or securities arbitration clinics. Search the FINRA or SEC website for a list of clinics.

  • Follow up. Review the steps you’ve taken and follow up after 30 days with any law enforcement agencies or organizations that serve victims.
  • For details about how to recover from other types of financial fraud, see our full list of Victim Recovery Checklists.

    SCAM WATCH

    Investment schemes involve getting you or your business to part with money on the promise of a questionable financial opportunity.

    Common types of investment scams

    Investment cold calls

    A scammer claiming to be a stock broker or portfolio manager calls you and offers financial or investments advice. They will claim what they are offering is low-risk and will provide you with quick and high returns, or encourage you to invest in overseas companies. The scammer’s offer will sound legitimate and they may have resources to back up their claims. They will be persistent, and may keep calling you back.

    The scammer may claim that they do not need an Australian Financial Services licence, or that that they are approved by a real government regulator or affiliated with a genuine company.

    The investments offered in these type of cold calls are usually share, mortgage, or real estate high-return schemes, options trading or foreign currency trading. The scammer is operating from overseas, and will not have an Australian Financial Services licence.

    Share promotions and hot tips

    The scammer encourages you to buy shares in a company that they predict is about to increase in value. You may be contacted by email or the message will be posted in a forum. The message will seem like an inside tip and stress that you need to act quickly. The scammer is trying to boost the price of stock so they can sell shares they have already bought, and make a huge profit. The share value will then go down dramatically.

    If you invest you will be left with large losses or shares that are virtually worthless.

    Investment seminars

    Investment seminars are promoted by promising motivational speakers, investment experts, or self-made millionaires who will give you expert advice on investing. They are designed to convince you into following high risk investment strategies such as borrowing large sums of money to buy property, or investments that involve lending money on a no security basis or other risky terms.

    Promoters make money by charging you an attendance fee, selling overpriced reports or books, and by selling investments and property without letting you get independent advice. The investments on offer are generally overvalued and you may end up having to pay fees and commissions that the promoters did not tell you about. High pressure sales tactics or false and misleading claims are often used to pressure you into investing, such as guaranteed rent or discounts for buying off the plan.

    If you invest there is a high chance you will lose money.

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    Visit ASIC’s MoneySmart for more information about investment seminar scams.

    Superannuation

    Superannuation scams offer to give you early access to your super fund, often through a self-managed super fund or for a fee. The offer may come from a financial adviser, or a scammer posing as one. The scammer may ask you to agree to a story to ensure the early release of your money and then, acting as your financial adviser, they will deceive your superannuation company into paying out your super benefits directly to them. Once they have your money, the scammer may take large ‘fees’ out of the released fund or leave you with nothing at all.

    You cannot legally access the preserved part of your super until you are between 55 and 60, depending what year you were born. There are certain exceptions such as severe financial hardship or compassionate grounds – but anyone who otherwise offers early access to your super is acting illegally.

    Visit ASIC’s MoneySmart for more information about how super works.

    Warning signs

    • You receive a call, or repeated calls, from someone offering unsolicited advice on investments. They may try to keep you on the phone for a long time, or try and transfer you to a more senior person. You are told that you need to act quickly and invest or you will miss out.
    • You receive an email from a stranger offering advice on the share price of a particular company. It may not be addressed to you personally, and may even give the impression it was sent to you by mistake.
    • An advertisement or seminar makes claims such as ‘risk-free investment’, ‘be a millionaire in three years’, or ‘get-rich quick’.
    • You are invited to attend a free seminar, but there are high fees to attend any further sessions. The scammer, posing as the promoter, may offer you a loan to cover both the cost of your attendance at the additional seminars and investments.
    • You see an advertisement promising a quick and easy way to ‘unlock’ your superannuation early.

    Protect yourself

    • Do not give your details to an unsolicited caller or reply to emails offering financial advice or investment opportunities – just hang up or delete the email.
    • Be suspicious of investment opportunities that promise a high return with little or no risk.
    • Check if a financial advisor is registered via the ASIC website. Any business or person that offers or advises you about financial products must be an Australian Financial Services (AFS) licence holder.
    • Check ASIC’s list of companies you should not deal with. If the company that called you is on the list – do not deal with them.
    • Do not let anyone pressure you into making decisions about your money or investments and never commit to any investment at a seminar – always get independent legal or financial advice.
    • Do not respond to emails from strangers offering predictions on shares, investment tips, or investment advice.
    • If you feel an offer to buy shares might be legitimate, always check the company’s listing on the stock exchange for its current value and recent shares performance. Some offers to buy your shares may be well below market value.
    • Never commit to any investment at a seminar – always take time to consider the opportunity and seek independent financial advice.
    • If you are under 55, watch out for offers promoting easy access to your preserved superannuation benefits. If you illegally access your super early, you may face penalties under taxation law.

    Have you been scammed?

    If you think you have provided your account details to a scammer, contact your bank or financial institution immediately.

    We encourage you to report scams to the ACCC via the report a scam page. This helps us to warn people about current scams, monitor trends and disrupt scams where possible. Please include details of the scam contact you received, for example, email or screenshot.

    Scams that relate to financial services can also be reported to ASIC.

    Spread the word to your friends and family to protect them.

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