Photo Credit To Vip Crypto Signals Via Flickr
Back during the bull rally of 2017, you could literally feed a family with the amount of money that was being handed out in airdrops. As the crypto markets surged, many other projects entered the space and wanted to give away free crypto for publicity. After Bitcoin and other cryptocurrencies reached their peak in December 2017, a large sell-off followed shortly after. Bitcoin and other altcoins saw their value diminish, some even 70-90% drops. During this time there was a lot of uncertainties and many startups in the crypto space stopped offering airdrops. With prices suppressed and the market uncertain, they could no longer continue operations. Aside from the markets struggling in 2018, the SEC was also stepping in and attempting to regulate smaller crypto companies that were doing illegal ICOs ( unregistered security offerings ). This also was a catalyst for the halt in airdrops.
As the airdrop hype evaporated, we started seeing companies “giving away crypto.” Bitcoin Doubler club is a great example of a company pitching the idea of giving you free Bitcoin. These companies know that people are looking for crypto on a daily basis. With this being said, we have seen numerous scams already from companies stating they will “double” your BTC as long as you send them some BTC first. We are not saying that Bitcoin Doubler Club is a definite scam. VF did not try their services as we thought they sounded “too good to be true.”
What Bitcoin Doubler Club Does
If you visit their site, they will pitch the idea of somehow doubling your Bitcoin holdings. As long as you send them at least .002 BTC, they promise to collect your BTC for a short time, double the balance and send it back to you. On their homepage they state that they are able to return 200% to you within 24 hours due to the “mining machines” they have built. Pretty much what they are saying is that if you give them 24 hours to work with your capital, they will be able to turn that over to +200%. They list live transactions on the home page that you can view on the blockchain. To be honest, we didn’t really see any issues with the Blockchain transactions. Some of the addresses that were moving BTC on this platform had handfuls of BTC which was very interesting to say the least.
Youtube Made Us Draw Concerns
The most interesting thing about Bitcoin Doubler Club is we couldn’t really find any reviews. Usually you will see some sort of forum discussing a platform like this but we didn’t find anything. Instead we went to Youtube and found the most popular video for this platform. The video has almost 14,000 views and acts as a promotional video. The problems we saw with the Video were:
Bitcoin speed: In the video its showing the user get their bitcoin back X2 in literally seconds. This is misleading from the 24HR quote on the website. Plus even if the site did return your reward that quick, it would have taken longer for the transaction to confirm on the Bitcoin blockchain. This might have been the fastest transaction we’ve ever seen involving Bitcoin which was interesting.
Youtube Comments: All of the Youtube comments were very similar, making it feel like the profiles were almost bots. About 95% of the comments on the video came from Youtube accounts that had no other subscribers or activity. This was another red flag for us. We were going to attempt to reach out to a user that tried the service, but no contact information was present on any of the Youtube channels.
Summary
Based on our research of the platform, we did not have enough faith to try their service. Even though the minimum is only about $20 in BTC, we didn’t see the value in trying them. If anybody else has ever used them and had a great experience we would love to hear from you. On the flip side, if we had enough interested people, we would definitely try it out to give you a better representation of the platform. You can let us know your feedback below through email or Twitter
Email: info@visionary-finance.com
Twitter: @VisionaryFinanc
Notice: Information contained herein is not and should not be construed as an offer, solicitation, or recommendation to buy or sell securities. The information has been obtained from sources we believe to be reliable; however no guarantee is made or implied with respect to its accuracy, timeliness, or completeness. Authors may own the crypto currency they discuss. The information and content are subject to change without notice. Visionary Financial and its affiliates do not provide investment, tax, legal or accounting advice. This material has been prepared for informational purposes only and is the opinion of the author, and is not intended to provide, and should not be relied on for, investment, tax, legal, accounting advice. You should consult your own investment, tax, legal and accounting advisors before engaging in any transaction. All content published by Visionary Financial is not an endorsement whatsoever. Please also visit our Privacy policy; disclaimer; and terms and conditions page for further information.
