There are times you come across a crypto investment site and wonder the concept behind what the owners have done. This is because they seem to have departed from the norms as seen with Abegin Trade.
The reason is that the domain was registered in 2014, precisely on December 30, so considering the duration, you would have assumed that the site has been online for 5 years. However, information available on the site shows that it has been online for just 2 years.
The site which started operation on January 25 2017 claims to have more than 90,000 registered users. In this review, we are looking at the background of the site to determine if this is a genuine investment site.
What is Abegin Trade?
Information available on the site states that this is a bitcoin mining company with a network of farms in many countries such as the US, UK, Germany and other countries.
The site claims that its operations are so lucrative that it has the potential to influence the outcome of the coin market. It further claims that its professionals are working in crypto trading spheres with long term view in their activities.
However, we consider such statements bogus since most of the countries mentioned as the location of the farms are not even cryptocurrency mining havens since the criteria for high profit is dependent on the cost of electricity and the attitude of the government towards the industry which is still largely unregulated.
How Reliable is this Investment Site?
Nevertheless, it is important to analyze the claims made on the site based on its own merits. According to the project, “Participation in our projects is completely safe and reliable in terms of keeping your investment.”
Now this is going to the crux of our review: to know how safe your investment with Abegin Trade is.
The Securities and Exchange Commission stated that investments that assure you of zero risks are likely to be scams and should be awarded since every investment bears some risks.
Who is Behind this Site?
HYIP sites never list their owners’ real identity because they are aware that the possibility of arrests by law enforcement is high. This is especially so because they’re aware that what they operate are at best exit scams which are not sustainable.
There is no listing of the company owner on the site and the registered address where the company claims as their operations office, 3 Coventry Road, Ilford, United Kingdom, IG1 4QR could not be independently confirmed.
We went further to search with the UK Company House but no Abegin Trade was listed on its database.
Now it’s always surprising to find sites such as this set up with the hope to receive investment funds from investors despite not providing the most rudimentary information about the people that would manage such funds. Why would you send your money to strangers hiding behind a website?
The Investment Plans
One of the features of scam sites is that they usually entice investors using ROI that are totally improbable. This is the case with Abegin Trade which has the basic profit as a high daily 15 percent. There’s even a ridiculous 6000 percent.
This obviously has been set up to fool as many investors that refused to use their imaginations. If someone could pay you 100 percent of your investment in even 2 months, they don’t need your money because they would concentrate on doubling theirs.
According to SEC warning on shady cryptocurrency investment programs,
“SEC and CFTC staff have recently observed investment scams where fraudsters tout digital asset or “cryptocurrency” advisory and trading businesses. In some cases, the fraudsters claim to invest customers’ funds in proprietary crypto trading systems or in “mining” farms. The fraudsters promise high guaranteed returns (for example, 20-50%) with little or no risk.”
You must have noticed that the regulator considers 50 percent profit unrealistic, why would you believe someone could pay you 15 percent daily which is equivalent to 450 percent in a month?
Set Up To Deceive
The site has a referral program that pays 5 percent referral payments on its affiliates. What you have to understand is that there are many people who promote scams hoping that they would make money through it since they’re not putting their own money. Their approach is to direct uninformed investors and make profit from their deposits.
This usually backfires since the fraudsters are really not interested in paying anyone. Dealing with fraud sites like this results in losses for everyone involved whether affiliate or investor.
It is morally wrong to promote scams because you’re causing people losses while enriching scammers. This is why you must focus on dealing with regulated sites.
Abegin Trade is an active scam and should be avoided. There are better investment sites that have built reputation over time and are helping people grow their assets.
These are licensed to render financial services with the appropriate regulatory agencies overseeing their activities. Here is our top recommendation.
For your views on Abegin Trade, please send in your comments using the comment box below. You could also help us identify more scam investment sites by informing us of new crypto sites asking people for funds. You may use the contact form above.