You’ve probably heard of automatic Bitcome if you are visiting this site. It’s one of the newest crypto investment company with promises of huge returns over a short period of time. Recently, I saw a member of one of the Facebook groups I’m apart of share a link to Automatic Bitcome and decided to see what the growing opportunity is about.
Is Automatic Bitcome a scam promising you money while you sleep, but instead disappears into the night? Or are you really getting paid every 60 minutes?
Recommended? No, feels like a ponzi scheme with unrealistic returns
Alternative: Instead of gambling your money, reach for the lifestyle you dream of and work towards it by learning how to build your own online business.
Read on for the Full Review
What is Automatic Bitcome?
Automatic Bitcome is essentially a Loan shark charging high interest rates to businesses that accept Bitcoin or other currencies as payment. Businesses need a loan to pay businesses expenses while they wait for money held in crypto to sell at the correct market price that the customer purchased the goods for. Automatic Bitcome is the player that helps provide the loans.
Where are the Owners?
On the homepage members are recognized as partners. The business can’t function without you helping by supplying them money to give out as loans to businesses around the world. But as a partner, there is only a first name Gabe given for the mastermind behind this business if you watch the phone interview with the CEO.
There isn’t even mention of the businesses with millions of dollars of revenue that accept bitcoin or other crpyto currencies that are receiving loans to help with their expenses. The reason given is Automatic Bitcome signed non-disclosure agreements to keep everything behind closed doors.
How are you suppose to invest your money into a new essentially crypto bank that is going to give you a huge return on investment without a face on the company? This makes it easy for the owner to take your money, disappear into the dark, then reappear as a new business with a new name. It raises my concerns, and should raise yours as well about the legitimacy of this.
How Does Automatic Bitcome Work?
According to Automatic Bitcome,”Our business provides short term private bridge loans to businesses at various interest rates that need cash fast. ”
What is a bridge loan?
Pretend you own a home, but you’re buying a new house. Maybe you’re moving to a new town. The money you receive from your old home will be used to pay for your new home. However, sometimes it can take months before your home sells. So while you wait for your house to sell you get a temporary bridge loan to buy the new home before it gets taken off the market while you wait for the sale of your first house.
This is what Automatic Bitcome is doing for businesses basically. Because of the volatility of the crypto market businesses are waiting for money to come in by waiting for the right dollar to crypto exchange price, but still need to pay business expenses. Automatic Bitcome provides the loan and receives interest, in which, you as the investor receives part of the profits.
It’s similar to the way you put money into a savings account and some banks will pay you 1% interest on the money being held.
Because of the secretiveness of the operations, you don’t know if they are handing out loans like candy to anybody that ask, or if there is criteria that needs to be met to qualify them. Not every loan a bank hands out they’ll recover money from.
Think about people that get their car repossessed after missing a few payments. Even if the bank does recover their losses, it could take years. Without knowing the criteria, we don’t know the type of person that will receive loans from essentially me and you. Are they responsible or have had a lot of financial problems with other businesses?
On top of that, where’s the website to apply for a loan if automatic Bitcome is handing them out so gleefully? I could use a loan for a jet plane while I travel the world.
Cost of Automatic Bitcome
Creating an account is free to do on Automatic Bitcome. Once you make an account you will link to a crypto wallet and deposit money in order to start investing. You only need to deposit $3.50 (In the form of crypto) in order to start investing making it very low entry to join for anybody. Even with $3.50, you can make life changing money in a fairly short period of time. Because 0f this fact, it may be worth giving them a go. Although, I’m not too enthusiastic about these types of programs that promise more than they can realistically give. Which I get more into later in the article.
How Much Money Can You Make With Automatic Bitcome?
Lets go over an example of how much money you could potentially make over a year on a $1,000 initial deposit.
When you invest in Automatic Bitcome they give you 60 day contracts and pay 5% every day (of the initial deposit) until your contract is up.
With a $1,000 deposit, this means you are getting $50 everyday until your contract is up. At $50 (or 5%) everyday means in 60 days you would have tripled your investment from $1,000 to $3,000. Giving yourself a nice $2,000 in profits. If you decide to reinvest which most people would with those kind of returns. you will now have a new 60 day contract paying 5% on your $3,000 deposit for the next 60 days. Let’s take a look at what your initial investment will look like over a year
Day 1- $1,000 (your original investment)
Day 60-$3,000 (your profit + original investment)
Day 180- $27,000
Day 240- $81,000
Day 300- $243,000
Day 360- $729,000
Day 720- $534.441 Million
You’re at three quarters of a million dollars at the end of your first year. That’s 72,900% increase over your first year. After the second year you’re worth half a billion dollars.
If you are withdrawing and reinvesting everyday, this percentage goes even higher making you a potential millionaire in the first year you start investing with only $1,000.
Before we go further, please, look at the mind blowing amounts of money you will make within two years or even just the first year. Can you actually tell me that it’s realistic for anyone to go from nothing to making that kind of money so quickly? It’s unheard of.
Big Focus on Bringing in Referrals
In order for ponzi schemes to sustain themselves, they need to bring an influx of new members to pay older investors. Once the influx slows down, it starts becoming problematic to pay older players in the game since this is where the majority of the “investment” money made actually comes from.
One of the concerning claims made by Automatic bitcome is the fact that the top 10% of earners on the website have their main source of income from referring others instead of receiving money from the interest charged on the business loans.
On the investment side you are making 200% returns after you minus the initial investment every 60 days if you don’t withdraw and reinvest early.
This gives me the impression that the influx of new investors is more important than depositing money in Automatic Bitcome yourself. There’s two problems with this.
1. If every body focuses on referrals, nobody is actually concerning themselves with investing. If businesses do good on paying back the money, then really referrals isn’t necessary for Automatic Bitcome to grow. It will just happen at a much slower interval since there’s less money to loan out at a time.
But, if the focus is on the referrals side and there really isn’t any crypto loan business going on then Automatic bitcome will disappear sooner than later. It could be a few months, it could be years. Just depends how long people can convince others to join and invest.
2. While you are receiving huge returns, there still is a big focus on recruiting others. This doesn’t make sense when you consider people will be reinvesting their money even if you decide to withdraw your initial deposit. Even though we don’t know the interest rates being charged we can assume they are very high based on the returns you are getting.
So again, if this is a legitimate place you don’t need to focus on recruiting because the returns are so big the Automatic Bitcome is getting tons of extra cash flow every money to give out more and bigger loans.
Is Automatic Bitcome a scam?
I can’t verify that Automatic bitcome is a scam, but it does form the shape of a ponzi scheme. Here’s Why:
1. The fact that the top 10% of earners are making most of their money from referrals is alarming with the amount of interest you accrue on your initial investment. When people are making more from recruiting then investing it’s a big sign that you are just trading your money with others in the company
2. You’re entrusting your money to a guy named “Gabe”, but without any background information on the company or who the loans go to or even the interest that is being charged to these businesses receiving money. Anybody can talk about their made up company. It’s much more legitimate when they can actually layout hard proof they actually exist.
3. How’s it possible for you to realistically triple your investment every two months when banks hand out loans ranging anywhere from 4% to 20% interest a year. The best players in the stock market are only getting 20% average returns every year, while you get a 72,900% return over the entirety of the year.
No business is going to accept interest charges higher than what you are getting for returns. They would take their money somewhere else because it would be extremely difficult to pay the loan back with all the interest accrued in a short period of time.
While Crypto has blown up in the last few years even Crypto hasn’t give the kind of returns that you’re getting with Automatic Bitcome. Look at Bitcoin for example. If you look at the 5 years that it took from them to go from $90 to $19,475, They increased over 21,600% over that time but eventually reverted back to a small fraction standing at just under $4,000 now.
4. Again, Who the F*** is Gabe? What kind of background does he have. If a guy on the street came up to me and said,” Hey, I got a business. I Give out loans and charge a high interest. I’ve got the market cornered. So I can take advantage and charge whatever. You should invest. I’ll triple your investment every two months guaranteed.
I can’t tell you what I charge or who I give the loans to, but you should totally get in early and hit the ground running. Get your friends and family to give me money as well. I’ll even give you a small percentage of what they are earning on top of it.”
That’s Gabe to me. Are you going to give your hard earned money to some stranger that you don’t know anything about and trust them? I sure wouldn’t.
I’m all about investing and getting returns. I’ve played with the stock market a bit and dabbled with a little bit of crypto as well. But when you look at the returns you are receiving, the focus on recruiting others to do the same thing, and the mystery of the company, it raises to many alarms for me to recommend them. Can you make money with them? Honestly, I’m sure pe0ple will. But that’s the ones that get in early and bounce before the program disappears into the night. That’s not a gamble I’m going to take.
If you don’t want to gamble with these types of programs, then I recommend investing your time instead into creating your own lifestyle by learning how to build an online business.
Have you made money from Automatic Bitcome? What are your thoughts? Let me know in the comments!
Brandon is the founder of Lifeless Wallet. Created in 2015, Brandon built this website to save people money by exposing scams and to teach people how to make Real money online. On his free time, he enjoys sports, hiking, and traveling the world. If you have any questions, don't hesitate to contact us.