Have you heard of Bytobit Crypto? Have you being approached by someone on Discord telling you you won a giveaway? Do you want to know if it is scam or legit? Read this review to find out more about Bytobit
Table of Contents
What is Bytobit?
Bytobit located at Bytobit.com is a scam website that claims to trade Crypto. It claims that it was created for people interested in crypto markets but had little knowledge about trading or how cryptocurrency works
According to the website it claims to offer safe storage to manage digital assets using a combination of cold wallets & Multi-party computation (MPC) technology, it also claims to use the latest technologies to keep funds safe, and stay ahead of vulnerabilities and exploitation attempts.
The app claims to have been built around a proven-formula for winning trades & that all you need to do to begin profiting is simply make a deposit & then activate it.
However this Bytobit is a scam, it So it sends some btc to your wallet by using a referral code on their exchange but in order to withdraw any bitcoin you are asked to deposit 0.015btc minimum. This screams FAKE.
The people behind these scams simply keep on launching new “systems” and “apps” under new names like Dotxbep, Dotxswap an attempt to escape the negative reviews so that they can continue tricking people into joining.
There is no doubt that that Bytobit is a scam as several people have left some negative reviews online calling it for what it is, A SCAM.
Some investors had this to say:
So far scam .. they made me deposit .007 BTC to verify my account and be able to withdrawal and then right after that told me I now have to deposit .06 BTC to go up to premium then I can withdrawal I was dumb and basically they got me for $190 .. I was trying to withdrawal the 10,000 in BTC that I got from them it’s on TikTok they made it look like Elon musk was handing out .04 bitcoin for one week like it’s his new platform. It’s all bullChester
4 Reasons Why Should Avoid Bytobit.com
- The website is not regulated by any regulating body as such the people behind it can do away with your money at any given time.
- They offer high fees and commissions.
- There is not enough information on the website.
- When it is time to withdraw, they come with so many excuses and at the end you cannot withdraw and end up loosing your money.
How The Bytobit.com Scam Works:
- At the initial stage they lure you with with fake promises of high returns and low risks.
- Then you are asked to provide your personal and financial information.
- You are then asked to deposit a minimum amount of money (usually $250) so you can start trading.
- When it is time to withdraw your funds, they come up with various excuses, often times you are asked to pay tax which is way higher than your initial deposit, when you do, you still cannot withdraw your money, you’ve been scammed.
From the foregoing, it is clear that Bytobit Trading is a scam just like Dotxbep which we reviewed earlier, Investors should be wary of such sites as their aims are to rip off unsuspecting investors.
I hope this helps!