Is Bitcoin Bob A Scam Or Make $100K With $100?

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Is Bitcoin Bob a scamDid someone email you Bitcoin Bob and you’re wondering if this system will work and make you $100K too or is Bitcoin Bob really a scam?

With all the rage about bitcoin back in Dec/17 where bitcoin reached it’s all time high of over $20K in value, there is a huge interest in investing in bitcoin from many new investors.

Products like Bitcoin Bob are surging to see if they can also cash in from this huge group of people wanting in but is this a safe investment opportunity?

My Bitcoin Bob review below will show you the following:

 

 

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WHAT IS BITCOIN BOB?


Bitcoin Bob Logo

 

Program Name: Bitcoin Bob

Website: bitcoinbob.com

Price: $100 – $25,000+

Owner: Bitcoin Bob LLC

Recommended? No


Bitcoin Bob is trying to tell you that you can invest $100 or more into Bitcoin so you can buy the Davor coin where you can lend your investment out and earn daily interest on it.

 

Bitcoin Bob home page

 

Bitcoin Bob shows you how this is done in the members area in the following steps:

  • First buy Bitcoin at Coinbase
  • After setting up an account at Davor, you will transfer your bitcoin to yourself in the Davor lending platform.
  • Then use the Bitcoin and buy the Davor coins
  • Lend out your Davor coins
  • Earn daily interest on your $100 investment.

The more you invest, the more you will earn of course.

There’s only one problem: The Davor lending platform will probably be shut down as it will be considered as a Ponzi scheme.

The Davor lending platform is very similar to Bitconnect, another lending platform, which was recently shut down on Jan 16, 2018 by the government, you can read the full story here.

All those investors in Bitconnect lost everything they invested and the people who do the same in Davor will also eventually have the same end game as the government is cracking down on all these Ponzi schemes.

Let’s take a closer look at how this will all work.

 

 

WILL BITCOIN BOB REALLY WORK?


If you follow the steps that Bitcoin Bob teaches you, and your money sits on the Davor platform for awhile, I’m sure you will earn some money.

After you buy the Davor coins from your Bitcoins, you will then lend it to Davor to invest in ICOs which are initial coin offerings.

 

Bitcoin Bob Lending Program of Davor

 

These ICOs would be new coins coming on the crypto market and the coins are offered at the lowest possible price.

ICOs are super risky as there are many new scams coming out and sometimes the ICOs don’t even make it to the exchanges so the Davor team must research them well before they invest.

For your Davor coins that you lend, you supposedly will be accruing interest on the value of your Davor coins.

The Davor platform offers a lending interest rate of 1.62% but the real results show that the percentage can fluctuate from day to day.

Bitcoin Bob Davor's Daily Interest Rates

The daily variation rate can go from 0.5% to up to 2% and the more you invest, the more percentage you can earn.

You have to lock your money in though and you can’t get your money back after 299 days if you invest $1000 or less.

Bitcoin Bob Davor Interest rates

The more you invest, the less you have to wait.

As it seems now, yes this method works and you can make money from lending out your Davor coins.

However, like I mentioned before, because this is set up very similar to Bitconnect which just shut down not long ago, Davor is also at risk.

Davor actually tweeted about it saying how they are now the leading lending platform so admitting they are doing the same thing as Bitconnect, see it here.

Bitcoin Bob Davor's Tweet About Bitconnect

Therefore, if you invest, you are really taking a huge risk of you not seeing your money, especially if you have only $1000 or less to invest because you have to lock in your money the longest at almost a year.

There are others that are more of an expert in the crypto field who are also saying the same thing so this is going to be very risky if you want to do this.

 

 

IS BITCOIN BOB A SCAM?


I will give Bitcoin Bob the benefit of the doubt that he doesn’t know that Davor Coin is like Bitconnect so I won’t call this a scam because his method does work.

However, I’m no financial expert or have any real financial advice for you, but just as a citizen just watching this crypto world crashing down with the news of Bitconnect, I just can’t see why you would want to invest in something similar to what has just been shut down.

Investing in cryptocurrencies is already risky due to its volatility but then adding this factor of another similar platform has been closed by the government, just makes investing in Davor not a good idea.

For me, I stick with well known and “steady” (no coins are really steady, so that’s why I added quotes) and just invest in those that are legit like Bitcoin.

If you’d like to try investing in bitcoin, you can get $10 worth of bitcoins for free here if you use Coinbase.

 

 

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If you have any questions or thoughts regarding whether Bitcoin Bob is a scam or anything else, please do not hesitate to leave me a comment below. I always reply to my readers! 🙂

 

Let’s make money online!

Grace @ Work Anywhere Now

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