What is a HYIP you ask, well HYIP stands for High-Yield Investment Program (HYIP), and this is what the U.S. Securities and Exchange Commission has to say about High Yield Investment Programs “These are unregistered investments typically run by unlicensed individuals – and they are often frauds.”
Today I will be doing a review for you on a HYIP that I have found which is currently paying out, it is Bitero, is it a scam? Well at the moment I would have to say no because they are paying out 12% interest a week. Is it a Ponzi scheme?
Can they sustain that, I don’t know, are they genuine, I don’t know. Let’s have a look at Bitero, and then you won’t have to ask What is a HYIP, and you can make up your own mind if you think it is a scam or not. I will add HYIP to the Understanding The Crypto Lingo post.
I have invested the minimum amount of 0.005 BTC into Bitero, this gives me access to the platform and all the information, and I can track it in real-time to make sure they are legit and are paying out, I will post my payout results weekly in the comments section for you.
Remember – If it sounds too good to be true it, it probably is!
Price: Minimum investment is 0.005 BTC
CEO: PAVLO YASENCHUK – read more about Pavlo
Click on the names to find out more about the team members.
Chief Financial Officer ==>>Do Hun Min.
Chief Marketing Officer ==>>David Leakens
Chief Technical Officer ==>>Marvin Faurent
Bitero Product Overview
THE BITERO OFFER
Register and invest in the 30-day Bitero investment package that combines revenue streams from four different investment markets. We guarantee our customers a daily profit of 2.0% on workdays and 1.0% on weekends. This daily percentage of profit will be available to our users for instant withdrawal, 24/7. Investors can reclaim their deposit at any time.
Bitero is a new company that has gathered a team of experts to offer you a HYIP. They claim to invest in 4 main areas.
- FOREX MARKETS – Market daily volume $5.1 trillion – Portfolio E%-55%
- DIGITAL EXCHANGE – Market daily volume $237 billion – Portfolio “%-32%
- BITCOIN MINING – Market daily volume $15,8 million – Portfolio %8%-14%
- VENTURE CAPITAL – Market daily volume $383 million – Portfolio %-20%
They spread the investments for diversification, Bitero says “Developing a diverse investment portfolio that is based on expert analysis guarantees a higher rate of success and therefore allows us to cement the daily profit needed to deliver the promised accrual rates to our customers.”
Cycle – 30 Days can start anytime.
Minimum Deposit – 0.005 BTC
Interest – Mon to Fri 2% Daily, weekends Sat & Sun 1 % Daily (Total weekly =12%)
The investment amount has no maximum limit, and you can also return your deposit at your convenience. Deposit return has a processing fee of 10% if done during the 30-day term.
Returns are paid every 24hr and can be reinvested for compounding interest. You can choose any percentage to reinvest and compound, or you can collect the daily interest for profit without compounding, it’s up to you.
Affiliate Program – Ponzi Scheme?
This is where it gets a little interesting, and they appear to have an excellent affiliate program. They have all the marketing material for you to use to help you promote Bitero. At the first, novice level, associates earn 5% commission from all direct referrals, and an extra 1% commission on the first three passive referrals levels.
A good affiliate program is great for any company to grow business but is this how Bitero are raising money for the daily payouts? They claim to be making profits from investing, but I have found no proof of this yet, I am not saying they are a scam, just that they are not transparent with where the money is coming from.
This is what Investopedia says about HYIP “In reality, these high-yield investment programs are Ponzi schemes, and the organizers aim to steal the money invested. In a Ponzi scheme, money from new investors is taken to pay returns to established investors. Money is not invested, and no actual underlying returns are earned; new money is just used to pay people who entered the scam earlier than they did.”
Bitero is paying out at the time of writing this, and I will update this post with the payouts I receive in the comments below, now I would like to believe that they are making money and the payouts come from investing in the 4 areas they claim. I guess time will tell and we will see if this is just a Ponzi or a genuine HYIP.
Good -Bad, Yes/No? BAD SCAM
I am still not sure about Bitero, on the outside, they appear to be very professional and genuine, and they are currently paying out. It is a good website, easy to use with a clear roadmap and vision, and they have a good affiliate program, they also have a Bounty Program where you can earn BTC by helping promote them.
I have not contacted them directly yet, but through my research, I have concluded that support at Bitero is good, they also have good ratings on Trustpilot. They have 545 reviews with a 95% excellent score you can view them at Trustpilot. The returns of 12% a week are awesome, and they are currently paying out, I can’t find any bad information about them yet.
See below about the Bitero exit scam.
I found out that the Trustpilot reviews were paid reviews as well. When I looked into their Bounty program, they reward people for leaving positive reviews. If any links or video do not work on this post, they have been disabled due to the scam.
It is only early days for Bitero. They are a new business only time will tell if they are genuine or just another Ponzi. I have only invested a small amount of 0.005 BTC and will withdraw that once I have made it back in profits. I will then invest with profits that way if anything goes wrong, I will not lose my capital. Hopefully, they will continue to payout. I will post my results for you in comments.
Some Questions Answered
My Final Thoughts SCAMMED!
You asked What is a HYIP well I hope this article gives you a bit of an idea of what these HYIP’s are all about, yes most are scams, but Bitero is paying out for now and appears as if they want to be around for a while. Do your own research and decide for yourself if they are genuine or not.
I think that these types of returns are possible from investing, but I am not convinced that Bitero is genuine, they may be a Ponzi like I said make up your own mind, and don’t invest more than you can afford to lose.
My main reason for posting about Bitero is someone asked what is a HYIP, and I wanted to show people what is out there and what is possible with crypto. Let me know in the comments your thoughts on this one and make sure you post your profits if you get on board with Bitero. I will keep you updated on this one, and hopefully, it will turn out to be the real deal remember…
Be the Best you can Be
❗ DISCLAIMER: I am not a financial advisor. This is not financial advice. The content and material I provide on 2dsirecrypto.com is my opinion only and general in nature. Always do your own research before investing any money. You should always understand the risks involved in trading and investing and seek advice from licensed professionals before undertaking any investments of your own.
Update on Investment.
Welcome to the first update on my Bitero investment, as you know, I invested 0.005 BTC.
I have been paid out now for 8 days and have earned a total of 0.00068768 BTC. – 3/01/2021
Bitcoin has reached an ATH overnight and is at $32,500. At that rate, I have earned about $29 AUD.
I will keep you updated weekly.
Well, it happened, Bitero did the EXIT SCAM. They shut down and disappeared overnight, all money gone. I had a feeling that this would happen, but I didn’t think it would happen just yet.
Apparently, Pavlo was a paid actor.
This is how these types of scams work, and they got me too. Lucky I just invested the minimum, I was hoping to get back my initial deposit, but that didn’t happen. It turned out to be a good live example of a SCAM that I could show you all anyway.
Now when someone asks What is a HYIP you can tell them about the Bitero SCAM.
If you are looking for a Genuine way to invest with crypto, check out my review on CAKE DeFi. They are 100% transparent and have great returns. I have been using them for months, and they are great.