GrossByte is a crypto mining site which promises to let you earn money by investing. The company is said to be led by graduates and “connoisseurs” of the crypto world. Today, we’ll tell whether this can be considered a solid investment or if GrossByte is a scam.
What Is GrossByte?
According to its site, GrossByte’s team hails from the United Kingdom, Singapore and Seychelles, being a very global team. The main facilities of the company are said to be in Germany, Italy, Ireland and Thailand, as well as the United States.
This mining company offers instant payments, a highly skilled team, secure and stable investments and 24/7 support for the investors. The idea is that the users will be able to invest their money in the company once and then they will have daily earnings which will basically be a new passive income.
As expected, the company claims to be fully legitimate and that its business is real and profitable, but is it? Let’s find out.
How To Use GrossByte
In order to use the services from this company, your first step should be to register. You can register for free using only basic information, but there’s a catch, you obviously have to invest in order to get any money (or you can earn from referrals).
This way, either you decide to deposit some money for the promised return on investment or you can simply invite other people to the company and you will get a share of the money that they will get from investing.
According to the company, you will get your money because you will be financing cryptocurrency mining and trading, which are said to be profitable activities.
Is GrossByte A Scam?
This investment site has a large chance of being a scam, unfortunately. While we cannot affirm that it is a scam, GrossByte has some very visible red flags.
For instance, you are not told who are the owners of the company. They are simply “very skilled traders” and investors that come from somewhere. Without this kind of information and background checks, you should never spend a penny.
This company also affirms that it gets its money from crypto mining and trading. While this could be the truth in 2017 when mining was booming, mining is currently not a very profitable activity since the crypto bubble has exploded and most cryptos lost over 90% of their price.
Also, the site seems to be a little bit abandoned, which is never a good sign. We are in February 2019 and the company still talks about the mining facilities that it will build in 2018. Nobody even updated the site during at least two months, which means that the site is likely abandoned.
All of this shows that there is only a slim chance that this company might offer something noteworthy to you. Because of this, your better move would be to look for a more trustworthy enterprise instead of this one, as we believe that it may be a dangerous investment with a high risk of fraud.