BitHashFX falls in the same category as BitVaultGlobal and DailyTrading. These accounts all share the same web design, which is unusual. It points to the fact that all of them are clones trying to take advantage of investors. As the name suggests, Bit Hash FX offers bitcoin and trading services. Bithashfx.com will likely lose your money in the process if you invest with them. Here’s what we found out in our detailed BITHASHFX REVIEW.
On the about us page, we get the exact website design and information on the company. According to the page, the platform started way back in 2009. We know for a fact that these are false statements.
To try and make the platform appear legit and with experience, they falsify information. For example, the website is barely a year in existence. However, domain records show the platform is 216 days old as we publish this post.
Bithashfx.com went live on 23rd February 2021, which shows they are using false information. The name of the owner is withheld with privacy the reason given. Of course, no one wants any association with a clone.
When you want to invest, you need credible mining investment options with a proven track record. These options offer investors a safe way to invest. You need to check with expert-backed investment options for a chance to make actual returns.
BitHashFX is a ruthless investment platform that takes advantage of anyone who signs up. Complaints have already reached regulators who plan to take action. So it’s best to avoid any of their packages for now.
Before you decide which investment platform to use, you need to do some recon. Make sure to research the platform in question. Find out what others are saying before deciding to fund the account.
BitHashFX offers two account types based on the investment strategy you choose. The two are based on cloud mining contracts and trading. Trading accounts are three, namely Prime, ECN, and R Trader.
The prime account offers users Premium conditions for trading. For example, you get 28 trading instruments floating from 0 points. However, when it comes to bonuses, there are limited offers with users having market execution types.
ECN account is sold to us as the client’s choice account. Members must deposit $500 to start trading with the account. It has the same features as the prime account but with 36 trading instruments.
The R Trader account is best for starters. There are more trading instruments, 12,000 in total. The account doesn’t offer members any bonuses and has the highest leverage of 1:2000. $100 is the minimum allowed deposit.
When you select BithashFX mining contracts, they come with account managers. Unfortunately, these managers are far from being professional. Instead of offering professional advice, they solicit funds.
You get a call from them asking you to invest in a lucrative venture. To make the venture appear appealing, they claim they only have limited slots. These calls will start coming in after you make your initial deposit.
If you make the mistake of depositing funds, the manager will claim the ROI is within reach. You have to wait for two to three weeks for the profits to soar. Little does the member know that this is a sham?
When the time lapses, you won’t hear a word from the account manager. Suddenly, the calls stop coming in. When you contact support, you get an excuse the account manager is on leave.
Bit Hash FX offers four plans when it comes to mining contracts. These include basic, gold, platinum, and premium. The deposit for the basic account is $500, with members getting a 200 GH/s hash rate.
Gold account holders get a hash rate of 500 GH/s with an acceptable minimum deposit of $1,050. All of the contracts offer the SHA-256 mining algorithm. It would be best if you understood the vesting period is one year.
Members of the platinum account get 5000GH/s with a minimum deposit of $5,050. There is no maintenance fee with these contracts. For the VIP account, you get a hash rate of 10,000 GH/s with a minimum required deposit of $20,000.
Bit Hash FX is not a licensed platform and fails to comply with regulations. We don’t find any documents that prove the platform is regulated. All we have is a statement the IFSC licenses the platform.
Despite this claim, there are no documents to prove it. As we mentioned, cloned platforms will do or say anything to look legit. And this is the reason why you need to stay away from it. Without regulation, your safety is out of the question.
Make sure to go for platforms regulated by reputable institutions. In this case, the platform ought to have a license from the CFTC, NFA, or the SEC. But, unfortunately, it doesn’t have any license, which makes it a high-risk investment platform.
You should invest with forex trading platforms licensed by well-known regulators. These include ASIC, BaFIN, CNMV, CONSOB, CySEC, FCA, and FINMA. The regulators ensure all parties adhere to regulations.
The platform promises investors a 30 percent bonus on cloud mining contracts. It seems like an appealing way to get investors to sign up. However, before you do, you need to understand the risks that come with these bonuses.
There’s a reason why regulators are against platforms that offer bonuses and commissions. Such platforms end up taking full advantage of it. You won’t get to withdraw funds and instead incur costs for failing to pay back the bonus in full.
The platform will remain silent and won’t mention that you need to pay back the bonus. It’s when you decide to withdraw does the platform drops the bombshell. And this is the reason you need to stay away from platforms offering any form of bonuses.
Details on who owns or runs the platform remain a mystery. Despite claiming to have a long history, we don’t have information on the founding members. And this makes Bit Hash FX an anonymous investment platform.
It would be best if you stayed away from any anonymous investment platform. These platforms don’t offer investors any meaningful investment strategy. You stand to lose a lot with unknown platforms whose staff members remain in the dark.
One of the few positive aspects of Bit Hash FX is furnishing users with world-class investment platforms. These include MT4 and MT5, which offer investors advanced trading tools. In addition, the platforms are compatible with any device.
Another feature worth mentioning is the fact that users can test how the platform behaves. There’s a demo account that comes with all features. It’s a great place to start learning how to trade and take full advantage of available features.
The platform ensures anyone can deposit funds as they use bank and wire transfers. There’s also a Bitcoin address where you can fund your mining contract. However, withdrawing funds with the platform remains a hurdle for investors.
Your funds are far from safe with a platform that lacks any compliance. The platform does not segregate accounts nor offer insurance cover for deposits made. It’s wise to stay away from Bit Hash FX.
We won’t recommend the platform as it’s a clone without any compliance.
Find out the best investment platforms making headways in the financial world. Then, start using transparent mining contracts from reliable platforms.
If you have any queries, feel free to write to us.
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