What is Bitcoin Metaverse ($BITMETA)? Is It a Scam?
The metaverse has become one of the most popular ideas in cryptocurrency over the past year. Naturally, this has led to a lot of projects popping up that have metaverse in their name.
Some of these projects are legitimate, but most of them are not.
With that in mind, we will review one of the metaverse projects that has emerged called Bitcoin Metaverse (BITMETA).
What is Bitcoin Metaverse (BITMETA)?
Bitcoin Metaverse is a project launched on the Binance Smart Chain (BSC) in March 10, 2022. There is really not much information available about Bitcoin Metaverse online, which we already find suspicious.
Based on the name, we assume that the project promoted itself as some sort of metaverse. We are unsure why the project has the name Bitcoin in it as it’s a Binance Smart Chain based project.
Is Bitcoin Metaverse ($BITMETA) a Good Investment?
No, Bitcoin Metaverse (BITMETA) is not a good investment. The developers appear to have rugged investors shortly after the project launched. That said, the project still has some trading volume and price activity, but it still looks like a complete rug pull.
Just look at the price chart on CoinMarketCap:
The project also does not appear to have a website, whitepaper, or any social media presence. We strongly recommend against investing in cryptocurrencies that do not have a website, whitepaper, or social media presence as that guarantees the project is either a scam project or a dead project.
The Price of BITMETA Is Rising?
If you look at the chart, then you may notice that BITMETA has actually risen a very small amount. You should not let this deceive you, though.
It’s relatively easy for developers to manipulate the price of their cryptocurrency by using trading bots. This is usually done to generate interest in the token so the developers can dump their tokens onto unsuspecting buyers.
It’s fairly common for BSC projects to do this because the gas fees on BSC are low enough that it can be economically viable for scammers.
Where to Buy Bitcoin Metaverse?
You can buy Bitcoin Metaverse ($BITMETA) on PancakeSwap. Again, this is not a project we would recommend to anyone, but it is still available on PancakeSwap for anyone that feels like wasting their money.
Here’s How to Avoid Projects Like Bitcoin Metaverse ($BITMETA)
People invest in projects like $BITMETA because they see on CoinGecko or CoinMarketCap that the token increased in value by a few hundred percentage points in a day and immediately invest in the project.
That’s the entire purpose of projects like this.
Fortunately, it’s easy enough to avoid losing your money by doing the most basic of research. All you have to do is Google the name of the token.
If no website or Twitter account shows up in the search results, then you should not invest in the project. Don’t be too worried if the project goes up a lot after you decide not to invest in it, either. These tokens are often extremely difficult to sell because there is only artificial demand for the token.
To summarize, Bitcoin Metaverse is a relatively simple scam project. It’s certainly not a project that you should waste your money investing in – the lack of a website and social media accounts give this away as some sort of scam.