What is Bit Palas? Is BitPalas a Scam or a Legit?
Are you searching for the BitPalas reviews in order to find out what is BitPalas in real, either is Bit Palas a scam or a legit? If so, then today is your lucky day. Because here, within our BitPalas review, we are going to show you the real face of BitPalas. Actually, we don’t recommend anyone to invest in BitPalas because it is not a legal company. Whenever we recommend any company, the first thing we consider is the legality of the company. For example, you can take a look at our list of recommended online works and businesses by clicking this link:- newsonlineincome.org/legitimate-work-home-businesses/
Among recommended companies also, we rate them according to their performance considering business legality, the amount of money that can be earned according to the time, effort and the investment provided to the company, the numbers of years that business has been running successfully, the rate of successful members in the business, the future growth and long time sustainability of the business and so on. Considering all these factors, we have rated Wealthy Affiliate as No.1 online work company. You can find more details on Wealthy Affiliate by clicking this link:- newsonlineincome.org/wealthy-affiliate-review/
But, in case of BitPalas, its business is neither a legal nor a sustainable. Why? OK, let’s find it out in detail within our Bit Palas review as below.
Bit Palas login and join in link:- https:// bitpalas. biz/ (Not Recommended to join)
What is BitPalas.biz? Why don’t we recommend BitPalas?
Bit Palas is a combination of two illegal schemes which are Ponzi and Pyramid. So, that is already enough to stay out of this site. Ponzi and Pyramid schemes are not only illegal, but are also unsustainable. Even if the owners of Ponzi schemes want to pay their members continuously, then also due to its business model, they can’t. Because each time they pay their members, they create debt into the system. Like these schemes never have any system to make real profit.
Bit Palas has claimed that they can make real profit from foreign exchange and Bitcoin trading. But in real, Bit Palas doesn’t have such system because in reality that doesn’t exist. None of the foreign exchange or Bitcoin trading can guarantee daily constant profit. More than that, BitPalas is claiming to pay upto 15% daily forever on the investment amount of the members. Well, there is not any foreign exchange or Bitcoin traders in real who can guarantee such type of return. So, every claim made by Bit Palas is bogus.
Let’s think in general way. If anyone have anyway to generate 15% daily forever from one time investment, then why they want to collect the investment from several people by opening site like BitPalas.biz and pay them 15% daily instead of taking either business or personal loan from a bank in much more lower rate, less than 1% monthly. Don’t you think why anyone who can make 15% daily want to share the profit to other if they can take that whole profit for themselves? It is simply because they aren’t what they are calming. They don’t have such system. They are just a Ponzi scheme, which means they will pay few members at starting in order to gain the trust of people so that they can lure more people into their system and once they able to collect enough amount of money from several people, they will simply stop paying and run away with huge amount of money.
Actually, Ponzi scheme is not a new thing. From many years several Ponzi schemes have been launching and scamming people. There are thousands of people who are victim of Ponzi schemes. Even the government authorities have arrested some people who were involved in Ponzi schemes. But, there are many people around the world who hide their identity and operate the Ponzi scheme like BitPalas.biz which makes government authorities very difficult to catch everyone. Anyway, either government authorities able to catch these Ponzi schemes or not, in the end Ponzi schemes collapse themselves because each time they pay the members, they create debt into the system because they have to pay additional profit to the members for which they don’t have any source of income. So, they simply use the money of new members to pay the existing members due to which each time they pay, they create debt into the system and ultimately collapse because they will not have enough money to pay the majority of members in the end. That is why majority of members always lose the money in Ponzi schemes.
But also there are some people who support Ponzi scheme and even promote it, why?
It is simply because people are greedy. They don’t care about others. If they can make money for themselves, they are happy with it. Like the owner of Ponzi scheme, there are some members who promote it so that they can make referrals in it and can earn commission when those referrals invest money. After all they know that these kinds of Ponzi schemes pay for few days. So, for their little amount of profit, they let other lose lots of money. Bit Palas also offers referral commission upto 2 level downlines like MLM (Multi Level Marketing) companies, 5% on the investment amount of level 1 referrals and 1% on the investment amount of level 2 referrals. But, the company like Bit Palas which pays referral commission upto 2 level downlines without selling any real products or services, just on the investment amount of Ponzi ROI plans is not a real MLM company, but is an another illegal scheme known as Pyramid scheme.
If you want to know more about Ponzi and Pyramid schemes, then you can find the details by clicking the following respective links:-
Ponzi Scheme:- newsonlineincome.org/ponzi-scheme/
Pyramid Scheme:- newsonlineincome.org/2017/03/06/what-is-pyramid-scheme/
Well, some of you may be thinking how Bit Palas can be illegal when it has registration document from UK Companies House. Well, first of all it is not a big deal to register company in UK Companies House because for that you only need to pay 20 GBP and can provide any virtual address by renting address with virtual address services. Yes, the address which BitPalas is showing is not a real address, but just a rental address. Bit Palas has also claimed that they are in business from 2015, but if you check their UK Companies House registration document, then that is registered at 21 April 2017. So, that is another fake claim made by Bit Palas. Actually, that registration document is just for a tax purpose, not a license to run or operate investment company. Tons of Ponzi schemes which were using such registration document has already turned into scam which proves that having such registration doesn’t stop anyone to scam people.
So, now it is clear that Bit Palas is Ponzi Pyramid hybrid, a complete illegal and unsustainable company. So, we don’t recommend it.
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