BitPlus Capital Review – Flagged As Scam Business By Trustpilot

Operating under a facade of legitimacy, these criminals promise unparalleled returns through blockchain technologies, smart contracts, and digital currency investments.

This BitPlus Capital review takes a closer look at fraudulent mechanisms employed to bolster a seemingly stellar reputation. By that we mean review seller networks. Trustpilot wasn’t deceived however, and their scam alert serves as a stark warning.

Broker status:	Unregulated Investment Firm
Regulated by:	No license
Operating Status:	Active Online Investment Sham
Known Websites:	bitpluscapital.com
Blacklisted as a Scam by:	N/A
Owner:	Bitplus Capital Algorithm Trading Technologies PCC Limited/ BitPlus Capital Ltd
Headquarters Country:	Gibraltar
Foundation Year:	2023-07-04
Online Trading Platforms:	Web Trader
Mobile Trading:	Not available
Minimum Deposit:	£10,000
Deposit Bonus:	Not available
CFD Trading Option:	No
Crypto Asset Trading:	Yes – BTC, ETH, ADA; XRP, DOGE, SHIB
Available Trading Instruments:	Crypto to Crypto, Crypto to FIAT
Maximum Leverage:	N/A
Islamic Account:	No
Free Demo Account:	No
Accepts US clients:	Yes
Global Fraud Protection Experts’ Verdict:	Never invest funds with unlicensed firms!

Faked Legitimacy

BitPlus Capital blockchain fraud makes statements about being registered in Gibraltar and claims to be licensed “ a Class 3 Virtual Financial Asset Services Provided and Regulated by the Financial Services Authority”.

Whatever that means can in no case be true, considering that the regulatory entity in Gibraltar is Financial Services Commission and they’ve never licensed an entity under the said name.

Furthermore, the legal documents on the website claim that the UK laws have the exclusive jurisdiction over BitPlus Capital Ltd., which would imply a license from FCA. That, however, is another lie, as the company doesn’t show up in search results of that registry either.

Everything we’ve dug up on this suspicious conduct points at a single conclusion: the firm is an investment fraud without any valid proof of legitimacy. Speaking of which, we’d recommend you to also read our review on Arrow Assets, a dangerous unlicensed brokerage scheme.

Deceptive Reviews Play Key Role

As soon as you start researching the subject of this firm’s reputation, you’ll get unified results about it being an utterly profitable and trustworthy investment service. All of the reviews and almost flawless ratings found on Sitejabber, Reviews.io and TrustedReviews lead you to believe that.

However, the situation is different on Trustpilot, which wasn’t so easy to deceive. The engagement of review selling networks was exposed and the BitPlus Capital reviews on this site were flagged as a deceitful mask for a scam business.

Furthermore, the several Reddit boards we found also discuss the true nature of the platform in question – it seems that the truth is starting to bubble up and it doesn’t look good for this swindler.

Hard-working Boiler Room

It is not revealed if this firm has any online presence anywhere on the social networks. The website itself offers no links to their profiles on social media. However, that doesn’t mean that they do not have a bunch of fake profiles that serve for victim hunting.

With the usage of review selling networks usually come boiler room agents that scammers work hand in hand with. No one can be quicker to find a victim and talk it into depositing huge amounts of money into fake investment opportunities involving crypto.

Targeted Sectors

Fraudulent investment schemes typically target more developed nations under the conviction of them having a greater purchasing power. This con is no different, seeing that ever since July, 2023, their main areas of operation have been:

• United Kingdom
• Australia
• United States
• Bulgaria

If you find yourself being pestered to invest into a suspicious sounding deal that promises huge profit with little effort, please report it. Also, we offer scam victims help with recovery services.

Abhorrent Trading Software

The BitPlus Capital Platform is a run-off-the-mill Web Trader, with basically nothing to distinguish it from the sea of other similar dysfunctional apps you will find with other online investment schemes like Signet Capital. This sort of a trading solution is popular with con artists, because it lets them easily manipulate the market prices.

Now, if you think that’s bad, you need to read about the mobile app, because this is just ridiculous. Instead of providing a dedicated piece of trading software, clients get a guide on how to add a web page from their mobile browser to their home screen. This is something we absolutely do not recommend you to do.

Only Crypto, Always Crypto

The trading app holds various assets for speculation, but the asset diversity is, well, mediocre at best. This company falls behind the competition in the number of asset groups and individual trading instruments.

None of the trading assets are linked to stablecoins, which lets the swindlers easily exploit the market volatility to their advantage:

• Crypto to Crypto – ETH/BTC, XRP/BTC, DASH/BTC, LTC/BTC
• Crypto to FIAT – BTC/USD, ETH/USD, SOL/EUR, SHIB/EUR

Investment Plans

The investment plans with this bogus firm are incredibly pricey by any measure. The swindlers are advertising some kinds of trading benefits for higher account tiers, like Bitcoin bundles, personal financial advisors and investment insurance to sweeten the deal.

Here are the account costs and ROI averages:

• Green – £10,000; 0.45% ROI
• Silver – £50,000; 1.25% ROI
• Gold – £100,000; 2.15% ROI
• VIP – £250,000; 2.45% ROI
• 1 Million Club – £1,000,000; 2.95% ROI

Confusing Fee Structure

You won’t find a clearly explained fee structure anywhere outside of Terms and Conditions, and even then you’d have to look for a needle in the haystack.

This document outlines a number of different fees, all of which are quite costly. They include up to 15% in conversion fees, 5% of processing fees and additional broker fees of up to 20%. The firm says that the increment of these fees is calculated based on the account balance, but never discloses a full price table.

Additionally, the firm charges undisclosed amounts of Broker Profit Fees, and hints to the illegal practice of charging hidden fees and requesting up-front payments in the sentence: “Failure to pay fees before withdrawal will result in additional fees”.

Predatory Withdrawal Conditions

Investors are led to believe that the firm provides two different channels for money flow, those being credit cards and bank wire transfers. There’s no information on how a withdrawal is processed, however. Besides the total asset loss, the clients are subjected to a very real danger of identity theft.

You see, in order to withdraw, you need to pass various “Verification Levels”, where the charlatans will ask for your sensitive data such as ID, driver’s license, Passport information, bank statements, savings account number and so forth. Using this information the con artists can clean your bank accounts right out!

Scammers Took Your Money? Call Us For Help!

The BitPlus Capital scam is an illicit firm that uses the prospect of cryptocurrency investment as a bait to lure new victims in. This fraudulent group poses a major danger not just to their clients’ financial wellbeing, but to the security of their identities as well.

For help recovering your funds from these fraudsters, contact our legal experts. We are available 24/7 via the live chat on our site.