Bitpetite is one of those HYIP schemes which attempt to lull their first-time visitors into thinking they’re something entirely different. Bitpetite poses as a bitcoin mixing/tumbling service, and as such, it appears to be entirely legitimate at first glance. At a closer look though, its true nature is revealed, as we learn that the tumbler angle is little more than the usual “cover-story” for the HYIP scheme within.
What is Bitpetite.com?
Bitpetite is a HYIP/Ponzi scheme offering a daily return of close to 4% on individual bitcoin investments, which alleges that it makes its money/profits through a coin mixing operation that it is running. Some of the similar schemes we have recently reviewed have used nuclear energy investments, forex trading and even laser technology sales as an explanation serving the same purpose. Here, we have Bitcoin-mixing. According to some, there is in fact no Bitcoin mixing going on at the site at all…
What exactly is Bitcoin mixing/tumbling?
Since the financial activities of Bitcoin users can be tracked back handily through the blockchain, to enhance anonymity, some resort to services which take their bitcoins, obfuscate their origins by mixing them into a larger pool, and then hand them an equal amount (minus a commission) of “clean” BTCs back. Indeed, some are willing to pay the commissions associated with this service, so legitimate Bitcoin mixing services are indeed very profitable. They are far from the 4% daily profit mark promised by Bitpetite though, even so.
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Can I Trust Bitpetite.com?
Probably no more than you would trust a sleazy used car salesman, which is to say that you obviously shouldn’t. Even if some people did get paid by the operation, it is an obvious pyramid scheme and it will ride off with its victims’ monies sooner or later.
Promises and Features
Bitpetite claims that in order to be able to run its coin mixing service seamlessly, it needs “dynamic funding,” as in money from investors. The investment plan is really simple: those willing to sink their money into this scam, can use a calculator available directly on the investment page, to learn exactly how much they will be able to earn over 6 weeks and 9 weeks – the two featured investment periods. The numbers are obviously attractive, so much so that they are indeed too good to be true. Several crypto currencies are accepted for investment purposes: BTC, LTC as well as ETH.
The calculator displays the daily net income in USD, as well as the weekly, monthly and total net incomes, using a 4.5% daily interest rate. The break-even point on the investment is set to about a month from the start.
Question Marks and Red Flags
For a well-versed cryptocurrency user endowed with common sense, everything discussed above is a massive red flag.
The About Us section of the Bitpetite website does not offer much in the way of useful background information on the operation. It does link to a Certificate of Registration though, which is in line with what we have seen at most of the other similar scammers. Bitpetite Ltd. has apparently been incorporated in February, 2017. As far as contacts go, we are given a Skype and an Instagram ID.
The web domain bitpetite.com was registered in 2016 and the identity of its registrant is privacy-protected, as obviously no one is looking to have his/her name directly associated with this scam.
BitPetite is available on the Dark Web with the following address: petite3b4qmoqbpl.onion.
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The support email is support@bitpetite.com.
BitPetite Complaints
The bitcointalk forums living testimony to this, most people have recognized Bitpetite for what it truly is: a textbook Ponzi scheme.
Popularity
When this review was posted on September 28, 2017, BitPetite’s global Alexa rank was 13,795, indicating it’s a very popular website. Much of its traffic seems to come from countries such as the United States, Brazil, United Kingdom, Venezuela, Russia, India, Spain as well as other countries.
According to SimilarWeb, more than 60% of the people who reach the site are referred via sites, such as mellowads.com and adbtc.top. They also seem to be running a small social media campaign, specifically on YouTube and Facebook.
BitPetite Review Conclusion
Do not invest any money, virtual or fiat, with Bitpetite.
Review Verdict: BitPetite is a SCAM!
Blacklisted Site: bitpetite.com
Have you been scammed by Bitpetite? Let us know by commenting below!
Update (October 28, 2017): We’re flooded with positive comments on Bitpetite, which include affiliate links. In the past we used to delete the link and keep the comment, so keep in mind some of the positive comments below may be fake! From now on though, we will NOT approve any comments which include an affiliate link so save your trouble and go comment somewhere else if you’re promoting this SCAM!
For legitimate alternatives, feel free to visit our Cryptocurrencies Day Trading Center.
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Have a couple 100 with Bitpetite…… tried to do awithdrawal today and couldn’t/didn’t receive the BTC that I withdrew. They say they’re doing server upgrades, and were surprised by the number of people signing up…. heard that one before…..
Mr Very Mr Worried….
Yesterday AM at first it appeared that the Bitpetite.com site was down, then it was up again.
Appeared as if they had updated the site and a new security login, was in place now, where when logging in to the site from a different browser an authentication code was required, which was emailed to the addressed you first registered with.
But throughout yesterday I attempted to make 4 small withdrawals.
But all 4 appear to be sitting in the pending status.
At first I thought this could just be website update issue, but this morning 24hours later still no cash.
The site is up but the 24hour online chat support has not been manned since yesterday.
Getting pissed off and worried….
I’m $1,266 dollars down… with them.
I do believe that if it was just a scam, why is the site still up and running… why are we not seeing a 501 or 502 web pages error? Is it because more and more people are still chucking money their way?
Or is this a genuine website update issue?
Bitpetite HAVE started paying out again…
I’ve received 2 of my old payments, and my most recent one…
And they are paying them in sequence still have 3 smaller one’s due….
Thank God….
they paid after downtime, all funds cleared
Almost $7000 here becauae I reinveated. I cannot even blame the scammer as this was my stupidity for relying on advice from a few whose advice I’ve followed for quite sometime. I foolishly believed in them when I’ve been investing on my own until this over 5 years.. I only have myself to blame for choosing to avoid having to work at making a ROI; someone else was doing it and I was getting paid. I am the fool and wish I had researched outside of my bubble. I would’ve come across this article had I done so.
I think maybe we hoped it was legit but were weary 24/7 in the back of our mind. Easy to ignore that little voice when thinking of how much “free” money that I’d be receiving quite quickly. I ignored the flags and in return, I’m paying the price, to the tune of almost $7k. Lesson learned.
I’m sorry to all those who lost money. We knew better and will do better next time.
They are paying again now 🙂
I have invested $126 ,what I can do to recover it, please help.
My name is Pawan.
wait for 4 weeks and 2 weeks for profit in if in 6 weeks plan. they run away that easily
I started investing with Bitpetite 15 days ago and at this point in time I already earned as an ROI more than 30% of my investment. Withdrawn the daily return and deposit it with Coinbase wallet and withdraw from GDAX to reinvest in Bitpetite or other platforms and the cost of the transaction is a very minimal transaction fee and the transfer of fund from GDAX back to Bitpetite or other platforms is literally $0. Bitcoin is a volatile commodity so just be very careful when investing.
My 2c review of bitpetite. I agree that the bitpetite system is likely to be unsustainable but there is no ‘smoking gun’ proof either way of what it is or isnt. I can tell you BTC % went up 20 times more than my bitpetite daily payout was today and that makes bitpetite look very sustainable if they are investing as well.
It can only be seen as a high risk investment – like a lot of other traditional investments. Unlike those traditional hi risk investments they tell you what you will get and for how long and let you draw down hourly. So if you are going to risk something in the scheme – and its probably the best of them all for a few reasons – get your principal out asap and then go mad. Just dont be sad if you loose your ‘new money’ there after – the risk is clear. Theres a mathematically smart way to take the risk. I’m in it and they pay out by the hour so if your not good at chicken you can withdraw every hour.
Bitpetite is actually working, I been on bitpetite over a month now and i did withdraw several time, I have so many partners under me and if you sign up using this link under me you will get .25 LTC from me. If you share my link and some one else join and deposit using this link i will still offer .25 LTC to you and your reference. Please give me your ID and email which you use to sign up so i can email back for free LTC.
What is Your referral link
If someone wants to take a punt on bitpetite or bitconnect or anything else?What the hell has it gotvto do with you?Are you partvof the fun Police?Trying to destroy egeryones hope or enjoyment.
No, he’s trying to save the money who will end up losing it when the Ponzi scheme inevitably ends.
Hello,
You guys could go into PARNER section and below there is a TOP PARNERS at the end. There are people who invested hundred of thousands USD into that and that list changes every day as well. I personally invested around 60 ltc into this and getting payment everyhour as well. Anyone could search “bitpetite” on youtube and see real people who really invested in it and talk about it.
I have reached the break even point today, they are paying out every hour and are very quick on the payouts, near instant. The tumbler is there on the index page, it is still high risk because of what the tumbler is likely used for making them a target for police shutdown.
I don’t know if its a scam but I’m making money from it. Invested 3 ETH ($1006.140) on 27/8/2017. Currently I’m up at $1307.1206 and will receive the rest of the profits and original stake back on the 8/10/2017 (end of the 6 weeks contract). But don’t take my word for it – view proof here: ibb.co/d5FVyw Anyway working for me and I’ll invest again this time for the 9 weeks contract with 180% return
Thanks for your excellent post, and for the proof-post. It’s people like you that make this HYIP investing effort worth doing.
did you read Bitpetite’s FAQ? you don’t get your principal back after 6 weeks. You are getting paid with daily profits of which the principal is already included. After 6 weeks, whatever total amount you’ve accumulated, that’s all of it… Actual profit is 44% if you remove the principal.
Hello,
i’m in with some LTC on this page. For now i am getting my divident every hour and can see my earnings..
Will report for sure if problems occures.
Be aware of site BITDRAGON LTD. They offer 9% daily, but it’s a scam!!! have bad experience with them.
With bitpetite now everything is ok.