Is USI Tech a Scam? [YES, Shut Down Already!]
Cryptocurrencies are on the rise, bitcoin is booming. Many business opportunities are riding the tide and sharing their offerings with the general public through their websites. USI Tech was one of them, they claimed to pay up to 1% daily returns for their BTC packages and each package would yield guaranteed 140% returns over time.
In this brief review, we will take a closer look at the crypto biz op and share things you need to know.
Is this scam or legitimate? Update: It's definitely a scam.
January 2018 Update:
USI Tech stopped sending BTC payouts to their customers in January 2018 after receiving a cease-and-desist notice from the Texas State Securities Board in December' 17. The packages were discontinued the following month.
We never really recommended the system to our readers anyway since everything they had in store for us screamed ponzi with their guaranteed 1% daily returns. No legitimate company can guarantee a fixed result unless they are manipulating things.
What is USI Tech?
United Software Intelligence Technology, more commonly known as USI-Tech
is was a company that claimed to have created automated trading bots for Bitcoin/BTC. The company started selling their bitcoin packages in May 2017 and was aimed at crypto enthusiasts and investors.
Each package came in at around 50 euros, so if you had 100 packages for example, you would roughly make a Bitcoin/BTC equivalent of 50 euros a day 5 days a week (weekdays). Things started off really well for the company but in time, it started to raise doubts in people's minds.
Most companies prefer to share the team details but USI Tech. Not only did the website intentionally hide the founders' information, they also faked their company's real location which said Dubai, but it was registered in a city called Ras al Khaimah. This city in United Arab Emirates is well-known for the offshore business registration services it has to offer.
How Did It Work?
The more packages you have, the better your daily returns will be. This incentive solely was responsible for the tremendous loss many people had to incur. We test drive products and business opportunities all the time and share our unbiased reviews, USI Tech was no exception.
As a result, we also lost money with this program and can say with confidence it's a ponzi scheme and you should stay away from it.
Some say Bitcoin will hit a million one day, some call it a bubble and that it will collapse. Cryptocurrency market is volatile as ever and there isn't a guarantee with anything you do in this space. Be it day trading (shorting, swing trading).
If you were one of those unfortunate people who lost money with this scam, we understand your pain. The biggest takeaway from this is to never invest into ponzi schemes which promise unrealistic returns (1% daily, 140% lifetime etc). If it sounds too good to be true, it is!
It's not the end of the world if you lost money with this program. We all learn the harder way, the key is to learn from your mistakes so you don't repeat the same mistakes again. If you want to test something anyway, only invest what you can afford to lose.
As of 2019, the website is seemingly offline and it won't load anymore.
You should still be wary of this system. The company encouraged the members to not use words like investment and return of capital. This means they could still be attempting to sign people up and steal their money.
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