StreamBit Review: Is it Legit or a Scam?

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StreamBit is another cryptocurrency mining provider that is quite new to the crypto world but is rapidly gaining popularity and generating equivalent controversy.  They are a combination of two dedicated data mining centers for altcoins and Bitcoin mining. The company developers claim to be offering secure and well protected conditions for optimal operation of mining rigs. The company owners claim to be offering a stability in chaotic and unpredictable economic climate through offering a lucrative opportunity at mining cryptocurrency with the most favorable conditions. StreamBit promotes a ‘decentralized future’ and implementation of Cryptocurrency and Blockchain technology.

StreamBit is one of the many HYIPs (High Yield Investment Programs) in Cryptocurrency and like others, it comes with a bag of risks. When you visit the website of StreamBit, you can’t help but notice that they have done a thorough job in putting together this website and have all the required details mentioned on their website. You would be able to find a company phone number: +44 20 80892829; a customer support email id (with a 24/7 promised availability) [email protected] On the website there is no information regarding the company owners or developers. Upon visiting their Youtube Channel, you see an introductory video with someone named ‘Harry Clemmons’ claiming to be the CEO of this company but there are no further details about either the CEO or any other authority figure. However, there is no further information and it all seems a bit too shady.

StreamBit Review

The developers of StreamBit seem to be investing in some quality technology. Since the hardware relies on an algorithm that is being used by the coins, it seems relevant to be investing towards improving it. They claim to be using ASICs (application specific integrated circuits) for mining Bitcoin cash, Bitcoin cryptocurrencies utilizing the algorithm SHA256 and Litecoin with algorithm Scrypt. They also claim to be producing very high-speed return on investments and use graphic processors (GPUs) for ASIC resistant coins (e.g. Monero). The company claims to be comprised of mining experts’ team with vast knowledge of cryptocurrency and relevant field experience; however, the fact that there is no information about “who is the owner?” seems to be heavily uncomfortable.

Strategy

StreamBit claims to be a cryptocurrency mining company that makes money from crypto trading and Bitcoin mining. Cryptocurrency is a profitable line of trade; however, it is ridden with several risks as well. Crypto mining involves making use of advanced computational power to verify and validate blockchain transactions that bring rewards, eventually. The website states that they are providing a high-quality service and impeccable performance, however, these claims have not been substantiated with proper evidence. The website lacks a trading history and there is no validation (from any source) of the win-rate that they have displayed. Furthermore, the company is offering about 9 plans of investments and returns range from 140% (per day) to about 3000% (in 30 days). All of this sounds very impressive but highly suspicious.

Analysis

  • Located: 22, Stephenson Way, London, NW1 2HD, UNITED KINGDOM
  • Website: http://streambit.biz
  • Company Number: 12113939
  • Founded: 04 Sep 2019
  • Payment Processor/s: Perfect Money, Bitcoin, Dogecoin, Payeer
  • Minimum Withdrawal: 0.1$ (instant)
  • Commission for Referrals: 5%
  • Price/Investment: 10$ – 100,000$
  • Plan of Investments: 104 to 140% (after 24 hours) or 135 to 360% (after about 6 days)

Apart from the above listed facts and figures, StreamBit has no information about company owners. Moreover, there is a “verification certificate” on their website (allegedly a proof that they are an authentic service provider) but when clicked, it leads to an unavailable page (meaning, you cannot verify or review the certificate of company authentication).

Results

The website does display top investors, last deposits and withdrawals; with withdrawals going up to $17880. However, none of these could be verified but there are users reporting receiving profits on small investments. As a company, StreamBit should actively work to add more weight to the proof of profits/withdrawals on their website in order to increase their credibility in the crypto market.

Client Feedback about StreamBit

There are mixed reviews about StreamBit with some people claiming it to be legit, while others have reported it as a big scam company and there is a third cohort of investors that report it to be worth trying but with small investments. There are quite a few reports of small amounts of profits being received, however, the bold claims of the company promising profit margins soaring upto 3000% cannot be substantiated.

Conclusion

It is understandable that any HYIP (high yield investment program) would be packed with risks, however, if they are legitimate there would be substantial rewards as well. Reliable HYIPs also are an ideal source of consistent income. However, in the case of StreamBit the factor of reliability and authenticity seems to be shrouded in secrecy and it is very hard to verify the identity. Although, there are some reviews with payments being processed through StreamBit but there are others that totally label it as a scam. With so much of a controversial and mixed status, it becomes highly necessary to have company information so potential traders and investors may look up and read previous reviews or search out professional profile of the owners (but for StreamBit, the owners are non-existent).

It is highly advisable to be very cautious when investing with StreamBit and instead of making large investments start small and keep at it unless further developments and information about company is revealed. Overall, I would rate StreamBit a 2.8 out of 5 and would conclude that it is worth giving a try (but exercising caution is highly recommended).

In the comments below, share with us if you have had an experience with StreamBit? How did it go for you?

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