Smartbitbulls .com Scam Or Genuine? SmartBitbulls Review
If you are seeking information about whether is Smartbitbulls .com trustworthy and legitimate company, then you have arrived at the right place. Our detailed SmartBitbulls review will provide you with all the pertinent information you need to determine the website's authenticity and reliability.
Safety Index:
Safety Index for Smartbitbulls .com: 15/100 (illegal Ponzi Scheme)
Smartbitbulls .com Website Highlights:
- Domain Name: Smartbitbulls .com
- Website Name: SmartBitbulls
- Address: 109 Whytecliffe Road North, Purley, England, CR8 2AE
- Website Claims: High rate of return and 3 levels affiliate program
- Schemes: 1% daily for 365 days, 2% daily for 365 days, 3% daily for 365 days
SmartBitbulls Review – Pros and Cons To Identify Either Is Smartbitbulls .com Scam or Genuine:
Pros:
- The website implements the Hypertext Transfer Protocol Secure (HTTPS) protocol.
- Its website name match with its domain name.
- It has provided the contact phone number and address. (Before you fall for this address, we recommend you to follow the "Cons" below about company address and registration from the UK)
Cons (Drawbacks and Complaints):
- It is a Ponzi Scheme which is neither a legal nor a sustainable scheme. Legal authorities have already warned the public to stay out of the Ponzi scheme due to its unsustainable nature. The majority of members will lose their money in Ponzi scheme and only a few ones who join the system at first will make some few bucks due to which you will find out some few people who promote and support some Ponzi schemes.
- We can say it is a Ponzi scheme because it doesn’t have any real source of income to pay profit to its members. It claims to pay unrealistic rate of return on the investment amount of members such as 3% daily for 365 days, but fails to provide the proof of its income source.
- Ponzi schemes such as SmartBitbulls employ deceptive tactics by showcasing fabricated payment proofs to mislead individuals. They start by distributing funds among a small group of participants, creating the false perception of successful payouts. This strategy aims to entice others to join the scheme based on these manipulated records. However, the unsustainable nature of Ponzi schemes makes it highly improbable to maintain payments to all members over time.
- Beware of Ponzi schemes that attempt to deceive individuals by presenting registration documents obtained from authorities in the United Kingdom or Hong Kong. It is important not to be swayed by such documentation, as these registrations do not serve as a license to operate an investment company like the one in question. Instead, they are typically obtained for tax purposes. History has shown that many businesses with similar company registrations have turned out to be scams.
- Its business strategy closely resembles that of several scam sites, including Rubinminer, Bafior, ClaimTron, etc.
- It also operates another illegal scheme known as a Pyramid scheme because any company which pays the referral commission up to a multi-level downline without selling any real products or services is known as a Pyramid scheme. It is claiming to pay referral commission up to 3 levels downline but without selling any real products or services, just on the sales of its Ponzi ROI plans. So, this makes it a Pyramid scheme as well.
Our Final Verdict:
After a comprehensive assessment of the provided information, it is clear that SmartBitbulls operates as an illegal scheme, thus categorizing it as a fraudulent business.
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FAQs:
Is SmartBitbulls a safe platform to invest in?
No, Smartbitbulls .com is not a secure platform for investment. It is categorized as a Ponzi scheme scam, which poses a significant risk of financial loss. Authorities have issued warnings advising the public to avoid Ponzi schemes due to their unsustainable nature.
What is a Ponzi Scheme?
A Ponzi scheme is like a fancy trick where someone promises you big profits for investing your money. They say you'll get rich quick! But here's the catch: they don't actually make money through any real business. Instead, they use the money from new people joining the scheme to pay off the earlier investors. So, it keeps going as long as new people keep joining. But when no one new comes in, everything falls apart, and most people end up losing their money. If you want to find out in detail what is Ponzi Scheme and how is it operated, then you can click this link: https://de-reviews.com/ponzi-scheme/
What is a Pyramid Scheme?
Imagine a pyramid-shaped building, where the people at the top recruit more people below them, and those people recruit even more people below them. Each person has to pay money to the person who recruited them. The ones at the top make lots of money because they get a share from everyone below. But the problem is that there's no real product or service being sold. It's all about recruiting more people and getting their money. Eventually, the pyramid gets too big, and there aren't enough new recruits to sustain it. Then, the whole thing collapses, and most people end up losing their money.
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