Review my concept

[Pe4ce]

Hello,
I recently started a project, i called it bitbank.digital, its the concept of banking services, for bitcoin. With "saving wallets" where you deposit and gain interest over time. (5% interest per month at launch!.
And investement accounts, with an personally assigned trader, who recommends trades for you ( profit not guaranteed) or does trades for you with your funds (profit guaranteed).

Constructive criticism appreciated.

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[TryNinja]

There is no way you can guarantee profit when trading with someone's money. What if you lose? What if the user spends his coins while you are supposedly trading? If it's a "saving wallet", he should be able to have liquidity over it, right? Unless you have enough to cover what he has, it's not viable.

You also have no trust to ask for people to store money with you.

[DarkDays]

"Website Under Construction

If this is your website, log in to begin adding content:"

Super professional. /s

In any case, you shouldn't be guaranteeing 5% profit per month. That's simply not sustainable in a down market and nothing is ever guaranteed in crypto trading.

Unless you are partnering with some of the biggest and most well-recognized traders around, you're likely going to be labeled a Ponzi scam.

Just leaving this here for any future readers. This is the domain who.is info for bitbank.digital;

"Name: REDACTED FOR PRIVACY
Organization: Domain Protection Services, Inc.
Address: REDACTED FOR PRIVACY
City: REDACTED FOR PRIVACY
Postal Code: REDACTED FOR PRIVACY"

Never send your money to anonymous individuals or businesses for investment purposes.

[LeGaulois]

He posted about 2 types of accounts:
- a saving account
- an investment account (trading)

The percentage guarantee (5%) is only about the savings account, it's specified the investments account based on trades aren't guaranteed.

@OP
The competition is rude and established, your idea doesn't look very engaging considering how you introduce your idea, to be honest, I wouldn't give you a buck, I would prefer to buy a scratch ticket instead.

I suppose you're looking to collect funds on the saving accounts and play the lottery on the trading market. Putting the users at risk

[Pe4ce]

"Website Under Construction

If this is your website, log in to begin adding content:"

Super professional. /s

In any case, you shouldn't be guaranteeing 5% profit per month. That's simply not sustainable in a down market and nothing is ever guaranteed in crypto trading.

Unless you are partnering with some of the biggest and most well-recognized traders around, you're likely going to be labeled a Ponzi scam.

Just leaving this here for any future readers. This is the domain who.is info for bitbank.digital;

"Name: REDACTED FOR PRIVACY
Organization: Domain Protection Services, Inc.
Address: REDACTED FOR PRIVACY
City: REDACTED FOR PRIVACY
Postal Code: REDACTED FOR PRIVACY"

Never send your money to anonymous individuals or businesses for investment purposes.

I said its a concept, website isnt finished, and we are a registered uk company

[Pe4ce]

He posted about 2 types of accounts:
- a saving account
- an investment account (trading)

The percentage guarantee (5%) is only about the savings account, it's specified the investments account based on trades aren't guaranteed.

@OP
The competition is rude and established, your idea doesn't look very engaging considering how you introduce your idea, to be honest, I wouldn't give you a buck, I would prefer to buy a scratch ticket instead.

I suppose you're looking to collect funds on the saving accounts and play the lottery on the trading market. Putting the users at risk

Any tips then to gain user trust?

[bitmover]

With "saving wallets" where you deposit and gain interest over time. (5% interest per month at launch!.

Well, obviously it is some type of ponzi or scam.

Maybe you are just dumb and you think that you can give people 5% a month. But you can't. The risks are enormous, and even if you don't plan to do this, you will end up running away with other people' money.

I advice everyone to stay away from you and your projects and ideas.

Any tips then to gain user trust?

Being trustful, what ofc you are not.

You should study and understand the risks of what you are doing before asking for other people's money.

[Theb]

I said its a concept, website isnt finished, and we are a registered uk company

Not to be rude or anything but a lot of HYIP sites I know if not most claim that they are a "registered" company in the UK, because in this country they can easily snag some random unknown company in UK's companies house website and then take a screenshot of their certificate of incorporation or their company number just to make them look legit. Simply just by saying you are a registered company in the UK doesn't give any ease for any potential investors who at least have been scammed once by a HYIP site.

In my opinion since what you are claiming is that you are a "banking service" you should at least just model your service with what BitBond is doing and that is focusing on lending out loans based in Bitcoin where the bank has users being the lenders as well as borrowers of the loan. Just drop this trading account of yours since this is not part of the main services of what a bank has to offer and I know you need to acquire another license for that in order for you to be allowed to trade equities/assets.

[DarkDays]

I said its a concept, website isnt finished, and we are a registered uk company

What are your company registration details?

Can you provide more details on how you can unequivocally guarantee that somebody will receive 5% per month on their deposits? Surely it can't be with simple trading, since turning 60%+ your fees per year on what I can only assume would be a substantial portfolio is extremely challenging.

Also, why is your main agenda gaining trust? You want trust? Prove you're legit, be transparent and admit your faults. Be very specific about the terms people are signing up to and the assurances that are in place (if applicable).

[malevolent]

If 5% per month is not a one time thing for a specific amount of money for the first month of starting the service to attract attention, and you're making a claim of being able to deliver 5%/month consistently, then I think you might be more interested in posting in the Investor-based games child-board.

[pooya87]

Any tips then to gain user trust?

you will never attract any "users", the only audience your idea can have is the newbie gamblers who would want to try their luck with the least amount of effort and make the most amount of money!
any regular user is either investing themselves or getting involved in the trading game to try their own skills without relying on a third party. otherwise everyone is familiar with the market enough to know that what you offer is unrealistic.

[OgNasty]

Your concept is give me your money and I’ll give you more. That sounds more like a scam pitch than a concept. Where does the 5% come from? What historical stats back up the 5% claim? What limit is there to how much in deposits you could pay 5%? You realize with a finite amount of BTC available, any promise of a % return is literally impossible to sustain for any person or entity that has ever existed or ever will exist right?

[Pe4ce]

With "saving wallets" where you deposit and gain interest over time. (5% interest per month at launch!.

Well, obviously it is some type of ponzi or scam.

Maybe you are just dumb and you think that you can give people 5% a month. But you can't. The risks are enormous, and even if you don't plan to do this, you will end up running away with other people' money.

I advice everyone to stay away from you and your projects and ideas.

Any tips then to gain user trust?

Being trustful, what ofc you are not.

You should study and understand the risks of what you are doing before asking for other people's money.

1. We planned making money off interest on loans.
2. Thanks for "constructive critism"  so far you just called me a ponzi scheme without knowing what it even is.