Is Bitgert (BRISE) Safe or Scam?

Bittime - Bitgert's mission is to use blockchain technology to solve problems and improve the quality of life for users. Despite claiming to have over 600,000 users, actual usage of Bitgert's products seems minimal, raising the question: is Bitgert safe or a scam?

What is Bitgert?

Initially launched on the BNB Chain, Bitgert later developed its own blockchain which it claims is capable of handling over 100,000 transactions per second with no fees. As of May 2024, Bitgert claims to have processed over 25 million transactions with its 600,000 users. 

Starting from Bitrise 

The project started as Bitrise in July 2021 on BSC and rebranded to Bitgert in December 2021. The name change did not affect the token, which retained the ticker BRISE. In February 2022, Bitgert launched its own network using a “proof of authority” (PoA) mechanism. Bitgert Chain claims zero gas fees and high transaction speeds, placing it just behind TON Network and Aptos in terms of speed. 

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Are Bitgert Transaction Fees Really Zero?

Although Bitgert markets itself as a zero gas fee chain, small transaction fees still exist, usually fractions of a cent, paid in BRISE tokens. The Bitgert network is compatible with the Ethereum Virtual Machine (EVM), allowing for easy migration of projects from Ethereum or other EVM chains.

What is BRISE?

BRISE is the native crypto asset of Bitgert Chain, originally launched on BNB Chain. After its blockchain launch, BRISE transitioned to become the native coin of the Bitgert network while maintaining addresses on BSC. Bitgert also runs a buyback program to buy and burn BSC-based BRISE tokens, with the goal of phasing them out for the native version. 

BRISE can be staked and used to pay small gas fees on the Bitgert Chain. It is also used in dApps such as the Bitgert exchange or marketplace. While it offers staking rewards in BUSD, the source and sustainability of these rewards remain unclear. Transactions involving BRISE are subject to a 12% tax, which is redirected back to the project.

Is Bitgert Safe or Scam?

Bitgert’s anonymity and internal auditing have sparked controversy. Promises of ultra-low transaction fees and high-speed transactions have been met with skepticism. Critics argue that if Bitgert’s claims were valid, it would see wider adoption among crypto enthusiasts. 

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Lack of Transparency in Bitgert Claims

Bitgert claims to have solved the blockchain trilemma by balancing scalability, decentralization, and security. However, there is no substantial evidence to support this claim. The lack of transparency about the team behind Bitgert and its self-conducted audit, which gave itself a 98% security score, raise further red flags. 

Vague announcements from the project, such as plans to donate to unspecified charities, add to the doubt. Additionally, many of Bitgert’s services still appear to rely heavily on the BNB blockchain, calling into question the role of the native chain.

Is Bitgert a Safe Investment?

Determining whether Bitgert or its BRISE token is a good investment is a challenge. As of May 3, 2024, BRISE is valued at $0.0000001512 with a maximum supply exceeding 400 trillion tokens, resulting in a fully diluted valuation of $65 million. 

For the token to double in value, the project would need to see a $65 million increase in value. Despite hitting an all-time high of $0.00000184, the current price is much lower. 

Conclusion

The project's aggressive marketing and low token price may attract investors, but observers argue that its limited user base and questionable legitimacy suggest that substantial increases in value are unlikely.

How to Buy Crypto with Bittime

You can buy and sell crypto assets easily and safely through Bittime. Bittime is one of the best crypto applications in Indonesia that has been officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed your identity verification. Also, make sure you have sufficient balance by depositing some funds into your wallet. Just so you know, the minimum asset purchase on Bittime is IDR 10,000. After that, you can make crypto asset purchases in the application. 

Monitor the price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.