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Author Topic: Is Bitspring a legit crypto fund or a scam?  (Read 188 times)
cryptospot
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December 05, 2018, 08:45:40 PM
 #1

Hi,

Does anyone knows if https://bitspring.org/ is a legit crypto investment fund or just a scam? It says on the team page that Spencer Bogart is an insvestor/partner.

Their profit performace seems great: https://bitspring.org/performance/

But when searching on Goolge almost no information about them shows up.

Thanks.
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Potato Chips
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December 06, 2018, 11:41:28 AM
Merited by dbshck (2)
 #2

Its newly registered, no wonder

Registered On:2018-10-10

I checked Spencer Bogart and Keith Rabois' twitter account and there's nothing about bitspring, big red flag!!!!!

Nevertheless, I'm auto NO to strangers-over-the-internet-giving-signals businesses.

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December 06, 2018, 12:21:21 PM
Merited by dbshck (2)
 #3

Big promises without the support of experts, analysts or individuals is an indicator of a Scam project.
I have checked their site, they have nothing to offer but promises, unprofessional website design, the minimum investment is large amounts, and many more. If you trust their promises, start investing otherwise I advise you to avoid that site.

Being a "a legit crypto investment" does not mean that investing in it is good.
We have a clear strategy.
Your investments need to take you closer to your goals, so we strip out the complexity. We blend the perfect mix of tech and investment wisdom to help your money grow. We believe diversification is the best way to protect and grow your wealth by managing the risk in your portfolio.
Trading team with 40 years (combined) trader experience.

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December 06, 2018, 03:18:14 PM
 #4

I personally invested into the fund about a month ago, at first i was very skeptical because the lack of info regarding the team but after a few days i saw lots of growth in my portfolio. They have an excellent team of traders! When looking at other exchanges, and funds, Butspring is actually fairly transparent. They have a public phone number, address, and advisors all listed. I withdrew some funds to see if it was legit and it worked instantly. No delays, or excuses.

So my answer to the question is No, it’s not a scam. But i’d recommend people to still do lots of research when investing in projects because i’ve been scammed before and it’s not fun!

Thanks for your personal experience sharing. Since you been using them did they deliver any "official" documentation? How do you kno for sure that the people show on their team page is real information? Like you Im interested, but the lack of information keeps me out.

Anyone else has more information about Bitspring?

Thanks
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December 06, 2018, 03:46:44 PM
 #5

I personally invested into the fund about a month ago, at first i was very skeptical because the lack of info regarding the team but after a few days i saw lots of growth in my portfolio. They have an excellent team of traders! When looking at other exchanges, and funds, Butspring is actually fairly transparent. They have a public phone number, address, and advisors all listed. I withdrew some funds to see if it was legit and it worked instantly. No delays, or excuses.

So my answer to the question is No, it’s not a scam. But i’d recommend people to still do lots of research when investing in projects because i’ve been scammed before and it’s not fun!
Did you register just for the purpose of posting this? How did you find this thread if I may ask?

Even if you are a random investor and actually managed to get funds out, they could very easily have paid you with funds coming from a previous investor, or with their own funds to have you spread the word. If people can't withdraw funds, it means bad publicity instantly, and they obviously look to establish some sort of an okay reputation initially, all to trap in even more victims as time goes on.

Quote
Bitspring November 2018 Highlights:
- Our fund grew 63.27%
- ROI outperformed all competing index funds
- Our team has accepted 6 new employees this month to help manage portfolio trading to ensure the highest growth opportunity for investors.
https://twitter.com/BitSpring_Org/status/1069749894934683654

That's from their Twitter. Legit crypto related funds are literally forced to shut down, and Bitspring grew exponentially.  Roll Eyes

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December 06, 2018, 04:11:03 PM
 #6

They are a SCAM!!! This thread pull up some attention and someone ask directly on Twitter to Spencer Bogart if he was a investor or partner on Bitspring. It's response was a clear NO as you can see at:

https://twitter.com/CremeDeLaCrypto/status/1070696296053272577

So for all here, very carefull with this scam!
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December 06, 2018, 06:21:51 PM
 #7

They are a SCAM!!! This thread pull up some attention and someone ask directly on Twitter to Spencer Bogart if he was a investor or partner on Bitspring. It's response was a clear NO as you can see at:

https://twitter.com/CremeDeLaCrypto/status/1070696296053272577

So for all here, very carefull with this scam!

How did you find this strange website?

the moment you see something like this:

We have submitted a formal application document to the U.S. Securities and Exchange Commission (SEC), applying to be the first official Crypto ETF.

you should be suspicious and do not use this service until you confirm who the site owners are and if they have actually submitted a formal application document to the U.S. Securities and Exchange Commission

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December 06, 2018, 06:25:57 PM
 #8

Where is their business license? If they have no license then they are not a business at all and should not be trusted with your money.

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December 06, 2018, 07:33:48 PM
 #9


How did you find this strange website?

I find it on Twitter. But it's now clear that this is a scam.
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December 09, 2018, 07:13:38 PM
 #10

Site appears to be down. I would generally not invest in any fund without first reviewing an offering memorandum
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December 09, 2018, 11:34:28 PM
 #11

Hi,

Does anyone knows if https://bitspring.org/ is a legit crypto investment fund or just a scam? It says on the team page that Spencer Bogart is an insvestor/partner.

Their profit performace seems great: https://bitspring.org/performance/

But when searching on Goolge almost no information about them shows up.

Thanks.

It's a scam. They ran two separate "giveaways" on their twitter to boost social media presence. They never fulfilled the first one and just deleted the tweet. They ran another one and just deleted their twitter right after.

It would seem after people were starting to ask questions, like the Spencer Bogart one, they went dark

Now their website is gone, their twitter is gone and their facebook is gone. Feel sorry for anyone who was stupid enough to invest with them.
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December 11, 2018, 07:04:01 PM
 #12

sounds like a scam to me  Angry
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December 11, 2018, 09:16:42 PM
 #13

Its already dead! Hope you didnt able to deposit some funds and lastly lock this thread to prevent further replies.



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December 11, 2018, 09:32:43 PM
 #14

One quote I found from a Reddit thread about the site (likely made by OP) even showed that the site apparently quoted 10-15% returns weekly. In the future, recognize that any service of any sort that promises returns is not legit in crypto. This site's down (hopefully for good), but most crypto-based scams have at least a few things in common.

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December 11, 2018, 10:17:49 PM
 #15

Its already dead! Hope you didnt able to deposit some funds

Pffft. So they shut down after 2 months? This is precisely the reason why you don't play with ponzi schemes just because "they pay the old investors", they can literally exit anytime!! and in the first place, you don't know if you're still in, to that "old investsors" circle.

They shut down either (or both) because they'd reached their quota or(and) sensed danger since they listed some public figures as supporters and it seems the word about it has gotten to them.

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December 14, 2018, 03:09:46 AM
 #16

They are back people.

Under a different name operating the same kind of business model and Twitter "giveaways"

This is an almost identical post that Bitspring posted twice in the last couple of months. So if you see this on Twitter don't even bother.

https://twitter.com/BitGiveaways/status/1073413235662032896
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December 14, 2018, 03:23:34 AM
 #17

They are back people.

Under a different name operating the same kind of business model and Twitter "giveaways"

This is an almost identical post that Bitspring posted twice in the last couple of months. So if you see this on Twitter don't even bother.

https://twitter.com/BitGiveaways/status/1073413235662032896

Lol. I posted on their tweet letting everyone know who they were and why it was a scam.

Refreshed the page and now I'm blocked, if ever you needed more proof that these are the same people operating the same scam. If they were really innocent I'm sure they would have responded instead of blocking me

https://i.imgur.com/dn985Hx.jpg
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December 14, 2018, 03:50:16 AM
 #18

They are back people.

Under a different name operating the same kind of business model and Twitter "giveaways"

This is an almost identical post that Bitspring posted twice in the last couple of months. So if you see this on Twitter don't even bother.

https://twitter.com/BitGiveaways/status/1073413235662032896

Lol. I posted on their tweet letting everyone know who they were and why it was a scam.

Refreshed the page and now I'm blocked, if ever you needed more proof that these are the same people operating the same scam. If they were really innocent I'm sure they would have responded instead of blocking me

https://i.imgur.com/dn985Hx.jpg

And an even bigger lol. Their Twitter has already been deleted XD

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