Thinking of investing with Boostcoin? Take time to read through this review before you do since there are a lot of players in the coin market whose objective is to deceive the investor and steal their assets. We are going to look at what Boostcoin stands for and if this is a worthwhile investment.
Sometimes, malicious players take advantage of terms and keywords that are already generating traffic to deceive investors. This is what Boostcoin may have done since there is a legitimate coin (BOAST) with a sound-alike name. This makes sense in terms of generating traffic since many of the searches meant for the coin would be diverted to the phantom financial freedom scheme set up by the fraudsters.
As you already know, there are thousands of sites that claim they could help investors make profit through generation and trading of crypto assets. Unfortunately, many of them are just funnels through which fraud is perpetrated in the cryptosphere to the detriment of the industry.
What is Boostcoin?
This is a platform that claims that it is registered in the UK and comprised of financial experts that speculate securities market. It is not clear however how they linked this market with the coin market since regulators are practically against having blockchain teams sell tokens deemed securities.
The site claims that the company has been in the industry for quite a while but a Whois search shows that the domain, Boostcoin.uk was registered on October 12, 2019. This contradicts the claims that this is a business that has been online for a while.
It is possible that the people behind this site wanted to take advantage of the Boostcoin project which is a partially premined PoW project. This they did hoping that searchers of the Booscoin would be redirected to the scam.
Striving To Convince
In the bid to convince investors that this is a genuine project, the Boostcoin site also claimed that they are involved in forex trading as well. Investment in securities and forex supposedly is so lucrative that every investor that sends money to this site would automatically be in profit.
This is contrary to reality because statistics show that 85 percent of traders actually lose money. Those that are in profit do not and cannot double your funds in a day, week or even a month as claimed by scam sites. This is why it is important to avoid every site that promises quick wealth irrespective of how they claim they accomplish it.
Bear in mind that expert traders have no time to trade for others. They generally fixate on building their capital through continuous application of their strategies. Smart investors who do not know how to trade would rather invest their funds in genuine copy trading platforms rather than scam sites such as boostcoin.uk.
Dubious Lending Platform
Scammers in the crypto industry routinely claim they could lend digital assets to people. Their intention is to steal the collateral of the borrower in an increasingly common collateral scam. This is one of the features of Boostcoin. Sending your assets to this site would result in a loss since the owners are not known. Neither is the address provided on the site the real address of the owner.
It is astounding that there are many people that send their assets to strangers who are hiding behind the web just because they promised they could help them make some profit. You need to understand that no one would make money and pass it on to you. If you need to make money, do what experienced investors do and get the result they get. It is that simple.
Scam sites usually attract the gullible through the use of unrealistic returns. This is so because no one would ordinarily pay attention to such sites if they offer genuine and realistic promises of profit.
According to the Securities and Exchange Commission,
“The SEC’s Office of Investor Education and Advocacy (OIEA) and the Commodity Futures Trading Commission’s Office of Customer Education and Outreach (CFTC) warn investors to scrutinize investment opportunities through websites purporting to operate advisory and trading businesses related to digital assets. These websites often contain “red flags” of fraud including claims of high guaranteed returns and promises that the investments carry little or even no risk.
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.
After the investors make an investment, typically using a digital asset such as Bitcoin, the fraudsters in some cases stop communicating with the investors altogether.”
The least ROI on the Boostcoin site shows that the owners promise they pay 120 percent of the investors investment after 24 hours. That’s ridiculous. Interestingly, there are higher rewards of up to 200 percent in 7 days. They are actually claiming they can double your money in a short time. The reality however is that they want to steal your assets and not double it.
There are genuine investment sites that everyone that wants to grow their cryptocurrency and other assets should take advantage of. These sites are registered and have the right regulatory agencies with oversight over them. A reliable investment site should have known owners and reputation such that every investor is sure that their funds are safe.
There are a few such sites around catering for investors’ needs. The site that we recommend is a social trading site that shows you how to grow your assets through a social investment scheme. You can also get the result of other experienced investors through the copy trading scheme. Here is our top recommendation.
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