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Bitcoin Bank offers electronics and even motorcycle to pay off debt and ease the crisis
Through its e-commerce platform, Bitcoin Bank enables customer balances to be reversed into products.

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SAO PAULO - Bitcoin Bank Group (GBB) faces a million-dollar crisis with its investors and clients after falling victim to a financial fraud in May that cost about R $ 50 million.
To try to reverse this scenario, GBB is selling a variety of products from motorcycles to luxury watches and consumer electronics through its Get4Bit marketplace - which allows third-party products to be traded using cryptocurrencies.

Get4Bit is exclusive to bank customers and works like a traditional sales platform: just log in with the registered CPF, choose an object and put it in the shopping cart. Even if the transactions are made by cryptocurrencies, the site provides the value in reais for comparison purposes.

In the catalog you can find, for example, Harley-Davidson bikes and quads, jewelry, luxury watches and electronics in general. Decoration items and drinks are also among the items offered.

Problems with deliveries

With accounts and withdrawals blocked, customers are looking instead to get Get4Bit products to review the loss, but more problems hinder the success of this operation.

According to UOL, product inventory is replenished every 15 days and, theoretically, deliveries arrive within 30 days of confirmation of purchase. However, many of these products, according to investor reports in Telegram application groups, are not delivered on time.

Uncompetitive Prices

Another problem may be the value of the products offered. Suggested platform prices are on average more expensive than traditional retail.

For comparison, a 75 'Samsung Smart TV model comes out for $ 35,961.80 (0.83229225 bitcoin) on Get4Bit. Already on the official website of Samsung, the same model of TV comes out for $ 32,999, almost $ 3,000 less and delivery time 10 times shorter: three business days.



In the bikes offered on the site, Get4Bit prices are even higher. A Harley-Davidson Sport Glide 2019 costs, on the brand's official website in Brazil, R $ 74,000. The same model on the Bitcoin Bank Group website comes out for no less than $ 86,135 (1.99349012 bitcoin), which means a $ 12,000 difference, up 15%.



Bank denies delay

By way of an official note, Bitcoin Bank Group says no delivery is delayed and that isolated cases need to be analyzed individually. The company defended itself by saying that Get4Bit acts only as an intermediary for suppliers and that they are not responsible for delivery logistics.

"Any reference to values ​​in fiduciary currency is merely an estimate of the value of the product in the market for the exchange," says the note on the large price variations between retail and the site.

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