Bookofgolden – Another HYIP Scam

Bookofgolden

Perhaps you came across Bookofgolden and you’re thinking of making a quick investment that would earn you quick profit. You’re actually not alone in this quest as there are many enthusiasts that are taking advantage of investment opportunities available on the internet.

With thousands of sites online competing for investor funds in the cryptosphere, it is a tough time determining which are genuine investments platforms and the ones that are simply bad news.

 In this review, we would look at the things that make Bookofgolden an investment site that you may consider or not as well as show you how to analyze a site to know if it a good choice to put money in.

What is Bookofgolden?

BookofgoldenThis is an investment site belonging to a company that manages cryptocurrency funds for its investors.

According to the information available on it, it is run by professionals that are experienced in the management of such funds with the view to make profit for the clients.

The site acknowledged that aside digital currencies, the company also follow assets such as stocks working round the clock to make sure that they generate a lot of profit to share with the investor.

The company which was founded in 2018 stated that it conducted all possible simulation tests to ascertain the possible returns they would make on their investment. So they are confident that they would make reasonable gain for investors who buy their investment plans.

Is this Company Reliable?

It is very easy to lay claims on the internet about opportunities to earn from investments, but what we advise investors is that they must not be in a hurry to believe these assertions just because they read them online.

There are basic factors that an investor should put into consideration before doing this. The first is verifying the claims of the company. Another is knowing the people behind it and then checking the probability that the promised return is feasible.

Who is Behind the Site?

BookofgoldenEven though the owner was not listed on the site, a Company House search shows that Golden Books Ltd was registered on July 7, 2017 by Baruch GELDZAHLER who claimed Belgian nationality.

A background check points to the suspicion that this is not a real identity since no social profile showed up for this individual despite having registered 3 companies with the agency.

Physical Location

Information available on the site shows that the company filed its address as 60b Southwold Road London, United Kingdom, E5 9PS.

Even though the location from Google images shows that it could be a business district, we are not convinced that this is a company you should risk your funds with for reasons that you shall see in this post.

Low Liquidity

BookofgoldenWe saw the financial statement of the company for the year 2018. The record shows that the company behind the site, Gold Books Ltd as at July 31, 2018 is worth 2,234 British pounds.

This certainly is not a company that has the capacity to manage millions of dollars in assets as it made it seem. You would expect a company that is involved in cryptocurrency and forex trading to have higher liquidity.

Our inference is that the owner of this site is interested in taking people’s funds and turning exit scam. Considering that the identity of the founder is unknown, the investors would have no way of reaching them to recover their funds.

Site Launched Two Years Late

BookofoldenConsidering that the company was incorporated in July 2017, it is surprising that the domain was registered in July 2019. This is 2 years after the company was set up.

Why would a week old site be trusted to manage funds for the public? Why has the site not been online longer since parent company is at least 2 years old?

Why doesn’t the company have authorization from FCA, which is the regulatory agency overseeing companies rendering financial services?

These are pertinent questions that should be clearly addressed by a genuine investment site. However, that Bookofgolden is a low liquidity company means that it hasn’t the capacity to manage public funds. It also has no authorization to do so.

Impossible ROI

BookofgoldenOne of the features of fraud sites is that they usually offer returns that are inconsistent with reality. They do this because they’re aware that is the only way to attract attention of investors.

People always want quick wealth, especially when there is no work to be done. Fraudsters are aware of this and always exploit it to lure investors to send them funds.

According to the Securities and Exchange Commission,

If it sounds too good to be true, it is. Compare promised yields with current returns on well-known stock indexes. Any investment opportunity that claims you’ll get substantially more could be highly risky. And that means you might lose money.”

The Bookofgolden offers a minimum ROI of 19 percent hourly. That means that in a day, the investor could earn 456 percent. That is just ridiculously impossible. In fact it should be an obvious red sign that you are dealing with a scam.

Conclusion

People lose hundreds of thousands of dollars to scams every day because many investors do not conduct appropriate research. Fraudsters do not care how long or how hard you worked for your money. If you don’t guard it, they’ll steal your funds.

This is why we advise that you never invest with a random site just because of information you got on the internet about that site.

Always use regulated sites that have online reputation that they would help you grow your assets. You can check our top recommendation and learn how it helps you through a social specialist investment system.

What do you know about Bookofgolden? You can send in comments using the comment box below. Also let us know of any projects you’d want us to review.

 

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Author: Jofor Humani

Peddling words has been a passion beneath the surface. I speak less than I write...naturally. Aside speaking and writing, I walk too...good for your heart they say. I sometimes do not feel like writing. Then I enjoy quiet times which I use to think and stay with family.

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