In this quick review of Bitcoin Bob I’ll be going over exactly what it is, and answering the question, “Is Bitcoin Bob A Scam?”
Let’s dive in and learn as much as we can!
Bitcoin Bob Review
Product: Bitcoin Bob
Website: bitcoinbob.com
Price: $100 – $25,000
Is Bitcoin Bob A Scam? It’s Complicated (I’ll Explain)
Is Bitcoin Bob Recommended ? NO!
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What Is Bitcoin Bob?
The main idea behind Bitcoin Bob is pretty simple, they claim that you can make $100,000 cash, by investing $100 worth of Bitcoin.
However the actual process that you will be using claims to be a bit more complicated than that.
The main question I want to find out the answer to in this review is “Bitcoin Bob A Scam?”
So let’s find out!
How Bitcoin Bob Works
There are three main steps you’ll need to learn in order to understand how Bitcoin Bob claims to work.
The reason I say “claims to work” is because I believe it works in a different way than they claim, but I’ll get into that later.
Here are the main steps:
- Purchase Bitcoin through Coinbase
- Use Bitcoin to buy Davor Coins, and lend them out
- Earn interest on your investment
Basically they claim that when you lend them your Davor coin they will arbitrage trading, or invest in new ICO’s.
Which will earn you more money, and allow you to earn a return of 1 to 2% interest each day.
The Pros And Cons
Let’s quickly go over the good and bad things about Bitcoin Bob.
Pros:
- It’s possible to make money
Cons:
- Might Be Part of A Ponzi Scheme
- Incredibly Risky
- No Proof Of Their Investments
Over the next few sections I’ll be going into detail about what I mean with the points listed above.
Is Davor A Ponzi Scheme?
If you have been keeping up to date with investing in Bitcoin, you’ve probably heard of Bitconnect.
Basically Bitconnect was incredibly similar to the Davor lending platform in the sense that they make incredibly similar claims.
If you haven’t heard, Bitconnect was recently shut down which lead all of their investors to literally lose millions of dollars overnight.
Rumor has it that Bitconnect was not actually investing the money they were getting, but they were simply using new member’s money to pay older members their interest.
Which is what a Ponzi Scheme does.
There is obviously no way to prove that Davor is a ponzi scheme, however in my opinion it’s very likely.
Ponzi schemes will always collapse at some point, the only question is will you get all of your money back before they do?
It’s Possible To Make Money But It’s Risky
One thing I want to make clear is the fact that it is actually possible to make money with this.
People who invest early on in Ponzi Scheme stand to make a lot of money from new members joining.
However newer members stand to lose all of their money at some point.
It’s like a giant pyramid, and only the few people at the top will actually make all of the money.
If you are at the bottom, you simply won’t have anyone underneath you to pay you the money.
The problem is that the only real chance you have at making good money is to invest a whole ton of money.
The more money you invest, the more money you’ll make, and the faster you’ll make it.
However it’s impossible to know if you will make that money back before the whole system collapses, or gets shutdown.
Which is inevitable.
Is Bitcoin Bob A Scam?
Honestly the question isn’t whether Bitcoin Bob is a scam, it’s is Davor a scam?
If that makes sense.
Bob has you invest in the Davor lending platform, which in my opinion is most-likely a ponzi scheme.
Personally I recommend that you
it.
This was simply a quick review, so I skimmed over quite a bit, but hopefully I got the gist of what you wanted to know.
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Is Bitcoin Bob A Scam? What Do You Think? Let Me Know In The Comments Below!
