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What Is Trust Bit Deposit About? A HYIP Scam? Read Before You Invest

by Alex Y · Published · Updated

What is Trust Bit Deposit? Should you trust Trust Bit Deposit and invest your money in this investment program? Read this Trust Bit Deposit review and find out why you should avoid this investment scam.

Trust Bit Deposit Review

What is the Trust Bit Deposit?

Name: Trust Bit Deposit
Website address: trustbitdeposit.com
Price: $50 (minimum)
Referral commission: 3% to 10%
Status: Scam
Overall Rank: 0 out of 100

From the official site, it is mentioned that Trust Bit Deposit provides Bitcoin investment services from the United Kingdom providing online investment services to the members all around the world. This group has been in this business since 2020 offering investment opportunities to private individuals.

However, I have not seen this company before and the site was recently registered on 2020-05-18.

They have claimed also that Trust Bit Deposit successfully engaged in trading activities on many world exchanges, such as OKCoin, BTC-E and Bitstamp. As the main tool for trading, they use bitcoins, litecoins, dogecoin, dash and other cryptocurrencies. It enables fast and easy direct transactions and allows instant exchange in the most profitable way.

Given that Trust Bit Deposit is an Investment Service, it should be regulated by the Financial Conduct Authority (FCA). There is, however, no record of the company in the public register.

I have done some research and I would like to highlight a few more red flags about this so-called “investment” scheme in this post.

Read on to learn more about this Trust Bit Deposit scam.

Should You Trust Trust Bit Deposit?

You should not trust this investment company.

The Trust Bit Deposit is a high-yield investment program (HYIP). If you have read the definition of HYIP on Wikipedia, It is s a type of Ponzi scheme, an investment scam that promises unsustainably high returns on investments (ROI) by paying previous investors with the money invested by new investors.

The Trust Bit Deposit is a fake investment company. From the official website, one can notice it is an HYIP investment scam that aims to steal your hard earned money. Why? There are a few red flags I managed to pick up.

#Red Flag 1 – New Site and Unknown Identity

Trust Bit Deposit is very new and looking at the date of registry, the website was registered recently this year in 2020. However, Trust Bit Deposit claims that they have been active in the market since 2020.

The registrant’s name doesn’t show up on WHOIS database. I have tried to search for the owner on the internet and nothing shows up. This is a clear warning that the scammer does not want to reveal his or her real identity to avoid detection.

#Red Flag 2 – Ponzi Scheme

Trust Bit Deposit offers offer referral commission program. It is a good way to make extra money. By inviting more people to their investment programs, you will instantly receive 3% – 10% ref commission from every deposit your referrals made.

For a real investment company, this would equal giving away the entire (if not more) profit margin. This is a typical trick from most of the HYIP on the market. They offer to reward “referral fees” to investors for bringing in additional members.

That’s how a Ponzi scheme is operated. They recruit new members to sustain the pyramid scheme. They need “new” money to generate “returns” for the older investors by acquiring new investors.

It is a fraudulent investment scheme where they pay returns to its investors from new capital paid to the operators by new investors, rather than from profit earned through legitimate sources.

It is a pyramid scheme that typically collapses in the end because it requires exponential increases in participants to sustain the business model. That simply means the scheme cannot go on forever.

The Trust Bit Deposit probably still pays their investors for now as the program is still relatively new on the market. When there is insufficient investment fund from the new recruitment to the older investors, the entire structure will collapse.

#Red Flag 3 – Vague Investment Information

Obviously, there is a lack of details on how Trust Bit Deposit manage the money from the investors. Trust Bit Deposit tends to be vague about the strategies used in their program.

I tried to look for more information “About” Trust Bit Deposit, all I got is just a vague information. Furthermore, they are not backed by a real and verified trader. There is no proof and information at all on who are running behind the scene.

As I mentioned above, given that Trust Bit Deposit is an Investment Service, it should be regulated by the Financial Conduct Authority (FCA). There is, however, no record of the company in the public register.

This is your hard earned money, please do not be afraid to ask questions. A genuine financial professional will usually be happy to explain in detail the investment program they are marketing. Unfortunately, Trust Bit Deposit fails to do so.

In an attempt to come up with a legitimate explanation of where Trust Bit Deposit’s high ROIs come from, the owner(s) are feeding affiliates all sorts of nonsense.

#Red Flag 4 – High, Unsustainable Yields

I have years of experience in investments. Historically, investments in most large corporate stocks return less than 10% per year. Usually, HYIP scams offer between 1 percent to 2 percent daily profits to its members.

The Trust Bit Deposit discloses their investment plans with no aim to hide its absurd and unsustainable returns. The provided calculator shows how it earns you a unrealistic % ROI under their investment plan. To me, it is a total nonsense.

The funny thing is the investment plan returns a perfectly steady positive income percentage regardless of any external variable such as price volatility. Don’t you think this sounds a little fishy?

The ROIs that they claim on the official page clearly indicate that the investment is actually a Ponzi scheme or a junk bond that may never increase in value and has a high rate of default.

Conclusion

I am not a fan of these HYIP programs. It is very rare that I recommend them because there are some things you need to know before you dive into this and throwing your hard earned money around.

Every investment carries some degree of risk, which is reflected in the rate of return you can expect to receive. If your money is perfectly safe, you’ll most likely get a low return. High returns entail high risks, possibly including a total loss on the investments.

Fraudsters like Trust Bit Deposit spends a lot of time trying to convince people that extremely high returns are “guaranteed” or “can’t miss.” They try to plant an image in your head of what your life will be like when you are rich.

Don’t ever believe it.

Based on my observation, it is very clear that Trust Bit Deposit is just another investment scam.

I reviewed some other similar HYIP in my blog too like Amazing 5 and Capital7. They both work the same way as Trust Bit Deposit.

By the way, Amazing 5 started 6 months ago and now it is official shut down. It is now gone with a lot of money from many victims. This is a prime example of how these HYIPs scam your money.

Why do people keep joining HYIPs knowing that they are Ponzi schemes?

GREED!

All these Ponzi Schemes are aimed at people who want to get rich quick and do not want to take the tried & tested route of – hard work = success.

Most people want to make lots of money quickly and the legal options are often very limited (e.g. Lottery). When a product promises to give you exorbitant returns, people tend to believe it due to our greed.

However, most of the people end up losing their savings and hard-earned money.

I wrote an article on How to Invest Online Without Being Scammed. This should serve as a reference when you look for a legitimate investment company on the internet.

Final Word

I don’t like the reliance on Ponzi scheme in order to make bad money. Instead, I do affiliate marketing (it’s different) and rely 100% on myself to build an income online. If you are interested in alternative ways to generate a real passive income online, you might want to consider running your own legitimate online business.

One powerful way to do this is through an approach called affiliate marketing. Affiliate marketing lets you earn money by promoting products from other companies. Any product you promote is going to be based on your opinion, and you are not required to stick with just one company.

If you’re looking for a legitimate way to make money online without trying to qualify for online surveys or getting scammed by HYIPs then Wealthy Affiliate might be what you’ve been looking for.

When I carried out my initial investigation on Wealthy Affiliate, it was purely to see if the company was legit for a few friends of mine, however, I didn’t imagine that I was going to make much or ANY money with them when I first got started, but as it turns out – I did.

Well, I’m happy to say that I’m not the ONLY one making money in Wealthy Affiliate, as you can see from the pics below, and you’d be surprised at HOW many other people are making money too.

If this is an area you’re interested in, you could learn more about this through my 7-day free email course or you could join the program here. The guide is an excellent way to learn all the ins and outs of affiliate marketing and to get started in the field yourself.

cloud mining site scam or legit please help

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    World Trust Invest Review – 5 things you should know about Worldtrustinvest.com

    Beware! World Trust Invest is an offshore broker! Your investment may be at risk.

    Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.

    World Trust Invest is an unregulated Forex brokerage with very unclear corporate information. According to the brokerage clients are provided with the UTIP trading platform and a decent range of trading instruments. Through a demo account we could see a spread of 0.7 pips on EUR/USD which is about twice below the industry average and quite favorable. However, there are many problems with the brokerage – read the whole review to find out why!

    World Trust Invest regulation & safety of funds

    First of, it’s obvious the brokerage is based in Russia because the only language option of the website is Russian. However, we read some very interesting stuff in the sector for corporate information. Here is a screenshot:

    The brokerage claims to be a corporate brand of WTI Capital Holdings Limited which is registered in Cyprus. Furthermore, we learn that the company is regulated by the Cyprus Securities and Exchange Commission (CySEC). However, not only did we not find such a company among the registry of CySEC but we also came upon a warning issued by the financial watchdog.

    CySEC states that the firm is neither registered in Cyprus nor does it fall under the regulatory oversight of the agency. It further suspects the firm of fraudulent activities and warns traders not to deal with it. This is as red a flag as possible in Forex trading. Furthermore, the brokerage is very unclear about its trading conditions as well. We neither learn the required minimum deposit nor the maximum leverage extended to clients. Such a lack of information is typical for scammers and shady brokerages. We attempted to register for the Utrade platform and we got access. Through a demo account we could see a spread of 0.7 pips on EUR/USD.

    The spread is quite favorable since the industry average in Forex trading is a pip and a half, however, the lack of regulation and the warning issued by CySEC are clear-cut signs of trouble.

    Such irregularities are the usual “tell” of a scammer. With no regulatory oversight we can’t be certain about the company behind the operation and whether it will fulfill its obligation towards clients. All in all, we consider potential clients of the brokerage may be open to some serious risks.

    We urge traders to exclude such risk in trading by only associating with brokers regulated by prestigious regulatory agencies, such as the FCA and CySec, which require compliance with a number of strict rules that give significant assurance for the security of the clients funds.

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    The segregation of accounts is among the rules which are especially important in the trading world, because it drastically lowers the risk of possible commingling.

    Another is the participation in a compensatory scheme by which the client’s losses will be covered in the unlikely case the broker goes bankrupt or attempts to swindle traders.

    World Trust Invest deposit/withdrawal methods and fees

    We find no information regarding the payment methods available on the website of the brokerage. Such a lack of clarity is quite common for unregulated brokerage in Forex trading. World Trust Invest does have a terms and conditions, however, it is only available in Russian. Due to the lack of information we cannot be sure whether the brokerage isn’t in fact hiding beneath its sleeve any nasty withdrawal fees. If we have to guess based on what we have seen – we would definitely consider the option viable.

    That is why we advise traders to always put up only the required minimum deposit, instead of risking a bigger amount with no certainty. Afterwards, they may also try to withdraw a small amount in order to check for any unexpected fees or delays. Such fees and delays are usually the signs of a scammer.

    How does the scam work?

    Information is a pretty solid criteria for judging a brokers legitimacy. Scammers would not share much of their information, because precisely there inconsistencies and irregularities may appear which expose the whole set-up. A good example is this very broker and the misleading information it gave regarding its regulatory status.

    After informing themselves for the brokers trading conditions – traders should be well-versed in the way of the scam:

    Through clicking an ad with promises for fast money, you will be redirected to a website such as Bitcoin Evolution or Crypto Revolt where registration will require you to give your email and phone number. After sharing your personal information, you will being receiving calls from brokers, compelling you to invest with them and win big. After a few minutes hearing their pitches, you decide to deposit some $200-250. And just like that – the scammers take a fat commission from this initial deposit.

    After they are done with you, senior scammers begin working you into putting even more money. They say it’s the only way to profit from trading even more. After making the mistake of investing even further, you’ll begin wanting to get out of this and withdraw what you have left.

    Unfortunately, the con-artists have no such thing in mind. They will now begin persuading you to wait it out and not withdraw right now. The motive here is quite straightforward – traders have a limited time window for filing a chargeback with their bank and get their money back. The “recovery department” will simply want to mislead you into missing this crucial period and, along the way, losing any chance you might have of getting the money back.

    What to do when scammed?

    As was mentioned above, scamming is quite the common in the trading world and, sadly, even you might suffer from it. In such an unfortunate case there still may be some available options for you.

    You may contact your bank or credit card provider and file a chargeback. Furthermore, due to the high instances of fraud – both Visa and MasterCard have decided to sidestep scammers as best they can in forex trading. The first thing we have seen so far is that MasterCard has increased the previous time period of six months for filing a chargeback to a year and a half with their peer Visa expected to follow suit in December.

    If, however, you have provided the broker with your credit card details, immediately cancel your credit card.

    If you have given information regarding your online banking pass – you should switch it asap!

    Beware of potential calls from self-described “recovery agencies”! They prey on scammed and vulnerable traders who are desperate to recover their losses. They will require an “up-front” payment to help you, but after paying them, no such help will be coming your way!

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