For many people fascinated and interesting in buying and or ‘investing’ in Bitcoin, Entercyrpto (Entercrypto.com), a self-acclaimed professional Bitcoin investment platform has surfaced on the Internet.
Entercrypto has many mouth-watering promises to an average visitor. First is that the website promised its members and prospects that they can “earn 10% daily (0.417% hourly) lifetime!”.
To explain this promise, the ‘company’ said:
“Instant withdraw, hourly earnings, transparent Bitcoin wallet, no hidden fees and obligations. EnterCrypto Company offer you the best chance to make Bitcoins online without leaving your home. We are focusing on providing stable and secure long-time investments”.
“We do not ask you to send documents or share your real name. Our cooperation is fully anonymous. You don’t have to sign anything, you don’t have to do any paper work. You can start making Bitcoins in few minutes…”
While this is very attractive, there are more benefits as promised by the ‘company’. Members and prospects are promised additional “15% referral commission”.
“If you don’t want to make deposit, you can start earning by sending referral links to your friends. You will get 15% of each deposit made by your affiliate. It’s fast and easy way to make money without your own invest”.
“No entry fees, completely free! Sign up today and try our service without any risk. You don’t have to sign anything, you don’t have to do any paper work. You can start making Bitcoins in few minutes”
This purprtedly makes Entercrypto.com a very attractive platform for anyone who is interested in investing and making huge gains from their Bitcoins.
Too good to be true?
First of all is that Entercrypto is not really genuine. Bitcoin is a really a digital currency used as a mode of payment and not an investment. As a matter of fact, Bitcoin.org, the official Bitcoin website advised that”
“Keeping your savings with Bitcoin is not recommended at this point. Bitcoin should be seen like a high risk asset, and you should never store money that you cannot afford to lose with Bitcoin. If you receive payments with Bitcoin, many service providers can convert them to your local currency“.
The site did not inform its members and prospects that the value of Bitcoins can decrease of increase at any second compared to fiat currencies that minimally-deflate or inflate.
Another concern is that members/investors have to send their Bitcoins to Entercrypto.com when they invest in the scheme. This can be very risk bearing in mind that Bitcoin payments are irreversible. The day site owners can no longer continue to pay the interests, they can as well shut down the site and all transferred Bitcoins by investors are lost for good.
For the svoidance of doubts about this major concern, Bitcoin.org advised everyone that:
“Any transaction issued with Bitcoin cannot be reversed, they can only be refunded by the person receiving the funds. That means you should take care to do business with people and organizations you know and trust, or who have an established reputation. For their part, businesses need to keep control of the payment requests they are displaying to their customers. Bitcoin can detect typos and usually won’t let you send money to an invalid address by mistake. Additional services might exist in the future to provide more choice and protection for the consumer“.
A search into who owns Entercrypto.com shows that one Walker Nevis Organization owns and registered the site. The site also claim to have a registered office in the United Kingdom. However, the registered address in the domain details shows that the website was registered by the Walter Nevis Organisation in France.
Another red flag is that there are no warnings and disclaimer on the site to warn members and prospects about the risks of ‘investing’ their money in Bitcoins. Even conventional banks have warnings for most of their savings and investment products.
There are strong indication that whoever owns the site has strong links with Nigeria. Nigeria is one of top countries visiting the site since it launched.
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Entercrypto.com will need to do more to convince the knowledgeable about Bitcoin on how genuine are its claims.