The sales material for BitAtom make the product and operation sound like a unique, very interesting and highly lucrative investment opportunity. The service is operated by one Jens Ziegler.
A brief introduction
I was first alerted to BitAtom by an acquaintance who trades cryptocurrency online. He has received a number of ads for it appearing on his Facebook page. After looking it over, he expressed a mild interest in the service but wanted to ask for my thoughts as I “look at stuff like this all the time”. Having had a quick look and carried out some basic research, I was rather concerned by the number of people who have had similar invites through Facebook. This review can be essentially considered by findings.
What does the product offer?
The sales pitch for BitAtom is undeniably slick and I am quite open to holding my hands up and saying that I can immediately see how this may take people in. The primary sales material is short and sweet. Jens Ziegler claims that BitAtom is able to offer “top-notch investment plans for secure lifelong returns”. Of course, this kind of end goal is what every investor really wants. The question that I have however, is whether or not BitAtom is really the platform to deliver this.
So, what exactly is BitAtom? I could quote exclusively from their video presentation but I would much rather cut through the crap and look at what you ae really getting into. BitAtom is actually a multi faceted business opportunity with Jens Ziegler offering both an investment service as well as an attached multi level marketing scheme as well. The cynical amongst you have probably just understood exactly where this is going.
First of all, I want to take a look at the investment side of things. Whenever you are looking at a product it is important to understand what you are getting into, especially before you start trying to sell it to other people. As the name suggests, BitAtom is primarily concerned investment wise with bitcoin, and the process is worryingly easy. Jens Ziegler says that all that you have to do is invest your bitcoin with BitAtom and claim a set hourly return. This couldn’t be easier.
There are various different “tiers” of investment and I will get round to exploring these in detail. Essentially, the more that you are willing to invest with BitAtom, the more that you can expect in terms of your returns. Having (admittedly crudely) explored this, I now want to turn to the multi level marketing aspect of BitAtom.
Just like the investment aspect, the multi level marketing side of BitAtom is very simple. The more people that you get to invest into Jens Ziegler, the more money you will be able to earn. Once again, I will go into detail on how the down lines work a little later on, however I can say that they aren’t as complex as some multi level marketing companies. There are just 3 levels and incomes are fixed percentages.
It is rather interesting that I have essentially told you here everything that Jens Ziegler gives us about BitAtom as a service. The whole operation supposedly carries “maximum protection” including DDoS protection as well as various other security features. Unfortunately, I personally find things like dedicated serves and SSL certificates rather basic.
Finally I wish to pass comment on the “fact” that there is a 24/7 support team. I have visited the BitAtom website a number of times whilst carrying out this review and investigation and not once has the live support been online. This does not bode well as far as I am concerned for the rest of BitAtom.
How does the product work?
Jens Ziegler says that the mission for BitAtom is to ensure the best possible returns for clients through the use of cutting edge technology and fool proof investment strategies. Whilst I have expanded on this a little, it concerns me that this is about as in depth as Jens Ziegler goes in terms of explaining how BitAtom works.
As with what is on offer, the workings of BitAtom also appear to be a rather multi faceted thing. Jens Ziegler spends considerable time talking about how his team of traders have more than 30 years of experience between them trading in financial markets. This has supposedly allowed them to develop “extraordinary skills”, especially when it comes to minimising risk and extracting decent returns from the market.
On top of this team of traders, Jens Ziegler also says that BitAtom mine their own crypto currency, something which they supposedly use to provide stable returns over time. Rather worryingly however, there is also reference in BitAtom to “other meticulously developed investment strategies” which supposedly offer an edge over competitors. This certainly sounds ominous to me as do a number of other statements made which I will ultimately get to.
In terms of the multi level marketing aspect of BitAtom, there is much less to consider. Each person that you refer will directly make you a set percentage of their earnings. The people they less refer will also earn you a smaller amount and the people that they refer will earn you even. This structure is very much typical of multi level marketing with the only thing that is arguably different about BitAtom being the simplicity.
What is the initial investment?
There are three different tiers of investment when you sign up for BitAtom. These are anywhere from 0.001 bitcoin to 10 bitcoin, 10.001 bitcoin to 25 bitcoin and finally 25 bitcoin plus. In real money terms, that means £2.66 – £26,597, £26,600.27 – £66,494.03 and finally, anything above £66,496.69. These are not inconsequential amounts of money that Jens Ziegler is asking you to invest with BitAtom.
It is also worth noting a few things about your investments into BitAtom whilst we are here. You don’t have to actually make any investment in order to partake in the multi level marketing scheme.
Secondly, and without a shadow of a doubt the most worrying thing, what you invest you don’t ever get back. Jens Ziegler says that when you make your investment into BitAtom, you can no longer withdraw your initial investment! You can withdraw your earnings every hour on the hour as it were, but what you have sunk into BitAtom is now there’s. This means that if you invested into the top tier, you have agreed to give Jens Ziegler £66,496.
What is the rate of return?
The rates of return available or BitAtom are offered on a percentile per hour. On the lowest tier, it is 0.4% per hour. The middle tier is 0.47% per hour and the top tier is 0.5% per hour. This means that if BitAtom is actually able to deliver, it will take you a little over a week to recoup your investment. This is an incredible claim and with very substantial evidence, there is a slim possibility that I could buy into this claim.
There is evidence of sorts provided, however I am not convinced by it at all. It is a website that shows that there have been bitcoin transactions from the accounts of BitAtom to supposed customers. Of course, the problem with bitcoin is that it is all entirely anonymous. Whilst I have carried out some digging through their records, there is nothing that I would say is close to concrete.
At the heart of weighing up any service is evidence. Sometimes, there can be a lot of evidence to suggest one way or another, and sometimes a lack of evidence can say more about a product than anything else. In the case of BitAtom, I feel like there are some rather strong leanings to the latter.
There is a lot to consider, however I will start with the first thing that stands out. BitAtom deals exclusively in bitcoin. This is a currency that really had its beginnings in some rather shady areas of the internet where it was preferred because was perceived as being difficult to trace. Even now as it enters new levels if popularity and public intrigue (even Amazon accept them), this still remains true. But whilst you can trace a bitcoin’s history, that doesn’t tell you much about where it has been.
What this means for those who want to engage in scam like businesses (and I am not trying to suggest that BitAtom is a scam in saying this) is that it is a perfect way to take people’s money. There is a paper trail, but it is very easy to move money around in such a way that for Joe Average, there is no way of tracing it. Furthermore, it can be easily sold and cashed out.
For those who aren’t familiar with bitcoin, a transaction ends up looking a bit like this:
As you can see, there is a record of a transaction, but it doesn’t mean much without tracing those wallet ID’s.
Even if you are willing to overlook the concerns around giving bitcoin of all things to a stranger, there is also the rather worrying statement that you don’t get your initial investment back. Off the top of my head, I cannot think of a single legitimate investment scheme that makes this kind of stipulation. With any investment there is always the possibility that you don’t get out what you pay in, but what Jens Ziegler is asking with BitAtom is akin to a company selling you shares and saying that you can’t sell them, you can only claim dividends.
I cannot stress enough how uncomfortable the idea of giving my bitcoins to somebody under circumstances like this makes me. Especially to a company that isn’t really able to tell you what it does to generate the revenue that it pays out to clients. Whether there is any truth in the vague claims of investments and a professional financial team, I am very inclined to take that with a massive pinch of salt.
There are other things that I would like to address in regards to how BitAtom makes money for clients. They say that they are involved in Bitcoin farming. This is something that takes a significant amount of resources in order to carry out successfully. A quick search of the address however doesn’t suggest that there are facilities in place to mine bitcoin to the extent that BitAtom claims to be paying out. This is yet another kind of discrepancy that frankly. I can’t overlook.
This leads me to the multi level marketing side of BitAtom. This is a rather interesting model and whilst it could be genuine, it could also be a way of getting as many people as possible on board with BitAtom as quickly as possible. Truthfully, this appears to be little more than an afterthought. With this in mind, I wouldn’t be overly inclined to give it much thought either.
On the off chance you haven’t pieced it together yet, I am not convinced that BitAtom is even close to a decent option. If I were looking to invest, there are literally thousands of other methods of investment that I would consider before BitAtom. Especially if I had the kind of money to invest that Jens Ziegler is really asking for (at the time of writing shares in Tesla, purely as an example, stand at 366.48 USD or £269.91).
There are simply too many risks involved here and whilst the reward seems high, I would be inclined to say that it is suspiciously so. For all of my talk of evidence, sometimes you also have to throw caution to the wind and go with a gut instinct and to me, BitAtom just doesn’t feel right. I don’t see how the numbers can make sense. The income potential is unrealistic and I can’t help but go back to the fact that your investment is forfeit when you deposit it with BitAtom.
Even the things that work in favour of BitAtom are somewhat questionable. For example, the company is registered as a limited company with company house. They are however a brand new company registered by one Jens Ziegler. He is the sole director of BitAtom and holds no prior positions with other companies. This could simply be somebody building a new business, it definitely happens. But to use the fact that a company has been registered as a limited company is far from proof.
Personally, I just don’t see the appeal here. Almost everything about BitAtom is easily questionable and there simply isn’t any supporting evidence that tells me that this is a genuine product. With that in mind, I would be inclined to give BitAtom a very large miss and invest almost anywhere else. The returns may not be as good as what Jens Ziegler claims to offer, but at least you know your money is tied up in something tangible.