Bitgert (BRISE) – Full Review
Bitgert is a cryptocurrency that has received a lot of attention recently as a potential competitor to Ethereum and other smart contract based blockchains due to the low gas fees and high transactions per second Bitgert.
Well, we have our doubts about the legitimacy of this project and will offer a comprehensive review of Bitgert that covers absolutely everything you need to know about Bitgert.
What is Bitgert (BRISE)?
Not much information about Bitgert can be found online. We do know this project was originally named Bitrise, but they quickly changed the name to Bitgert to avoid a lawsuit with the cryptocurrency company Bitrise.
Anyway, Bitgert is a project on the Binance blockchain that claims to have the fastest blockchain in existence while also having near zero gas fees. The BRISE token is a BRC-20 token.
The developers have also launched a mobile cryptocurrency wallet and have further plans to launch their own independent blockchain. It does appear that the developers have followed through with some of the promises that they have made in the past, so that looks good for them.
However, BitGert has had very suspicious marketing that we do not like. The project constantly claims that it’s the number 1 blockchain and that Ethereum developers worry about BitGert.
We can reasonably assure everyone that Vitalik Buterin and other Ethereum developers have no idea about the existence of BitGert.
The project might be fine and offer some nice things, but claiming that Ethereum developers view BitGert as a competitor to Ethereum is absurd. The project is barely known outside of the memecoin community.
Bitgert (BRISE) Tokenomics
Bitgert has fairly simple tokenomics. There is a 12% transaction tax.
5% is used for buybacks, 3% is used for marketing, and 4% is used to pay all holders BUSD. All the tokens that Bitgert buys back are immediately burned, which makes the token a little bit deflationary.
We do not like a transaction tax, though. It has a tendency to stall out a project and the natural growth of a coin. And it appears that the funds from a transaction tax are mostly used to line the pockets of the development team.
Is BitGert a Scam?
It is really hard to know if BitGert is a scam or not. The developers have delivered on some of the things that they have promised, which is a good sign. The project has also been around since 2021.
That is far longer than most scam projects last.
However, the project uses the most sketchy ways to market itself. One example are these overly promotional press releases they send out to various cryptocurrency websites. Another example is that BitGert constantly positions itself as the number one blockchain and the biggest threat to Ethereum.
BitGert is definitely not the number one blockchain nor is it the biggest threat to Ethereum. The Ethereum developers likely have no idea about the existence of BitGert.
We also do not like that the audit of the code was conducted by a company called “Bitrise Audits.”
BitGert simply conducted their own smart contract audit, which is ridiculous. How do they expect people to trust an audit from themselves? Do the developers not understand how audits work?
Is BitGert a Good Investment?
Plenty of investors in BitGert (formerly Bitrise) have made decent returns. However, we find this an extremely dubious project and one that we would skip.
We call it a gut feeling, but we believe that Bitgert will rug pull at some point in the future. The marketing tactics are very shady and the self-audit is absurd.
We can add onto all this that the development team is fully anonymous. Anonymous developers don’t always mean a project is a scam, but there are too many warning flags with Bitgert for us to take this project seriously.
It might cost us money if the project turns out to be legitimate, but we do not believe that it is worth the risk of losing an investment.
Basically, Bitgert is a cryptocurrency project that makes some big claims, but it struggles to back up a lot of these claims. This big claim promotion strategy might attract newbie crypto investors to the project, but it also makes the project appear very scammy to more experienced crypto investors.
The project appears to be going after the type of investors that go into projects like SafeMoon, Baby Doge, and other memecoins. This type of investor typically falls for the big claims that Bitgert makes about transactions per second and being the number one blockchain of 2022.
We tend to avoid projects that use these techniques as this marketing strategy is typically associated with scams or other low quality, trash projects.