At Cryptoinfowatch, we’re interested whenever a site mentions cryptocurrency as an investment tool because we are aware that there are so many people who do not know anything about how cryptocurrencies work, so they are susceptible to scams such as Coinlux Limited.
We always tell investors to be wary of sites that promise instant wealth. The reality is that the only way you could become wealthy overnight is if you won the lottery or some casino jackpot. If that’s what you’re waiting for, the odds are high you’d wait a lifetime without winning something big.
However, scam crypto investments sites would make you believe otherwise because they’re interested in making you send them your cryptocurrecies such as bitcoins or ethereum with the hope that you’d get rich in a short time. Nothing is farther from the truth.
Let us go through Coinlux in a bid to know what the company is promoting and the veracity of its claims. This is essential especially if you’re thinking of investing on the site.
What is CoinLux?
The site Coinlux.co is supposedly an investment site owned by Coinlux Limited. The company according to the site, is involved in operations with the top markets such as real estates, and crypto trading. It even stated its system of trading as scalping, highlighting that it also hodles cryptocurrencies.
Hodling is the investment strategy in which the owner of a digital currency such as bitcoin stocks it with long-term outlook with the hope that its value would appreciate in future. It is a strategy that was incentivized by the 2017 bull-run in which Bitcoin surged from just over $1000 to $20,000.
Be that as it may, it has not yet been proven to be a strategy for which a company could base on to promise its investors high profit due to the volatility of the crypto market.
Crypto Mining Without Evidence
Like other phantom crypto investment sites, Coinlux claims that it is a cryptomining company. According to the site,
“ COINLUX LIMITED is one of the top cryptocurrency mining facilities in the world.”
Interestingly, the company could not provide any evidence that it has a mining farm anywhere. It is now a common strategy employed by scam investment companies to claim that they are miners just because many people believe that cryptocurrencies can easily be generated from the air just because an entity could set up a website.
For the avoidance of doubt, there are genuine mining companies and these companies are not moving around soliciting for funds from retail investors. The fact is that it takes money to set up a farm but none of those farms can assure you the type of profit that scam investment sites such as Coinlux.co promise its investors.
A critical look at the Coinlux site shows that the crooks behind it are not new to the coin market and the crypto industry. It may also be that they hired an experienced copywriter to draft the content of the website. This could be seen by the claim of cheaper energy sources where the site stated that,
“The COINLUX LIMITED facility is powered by geothermal energy. The results of cryptocurrency mining highly depend on infrastructure efficiency and electricity rates, which make renewable energy sources – such as geothermal and hydropower – the go-to solution for a cost-effective and clean mining operation. Today, over 80% of mining energy is provided by renewable sources.”
That is a statement by someone that understood some of the principles involved in crypto mining even though the essence is to deceive gullible investors and steal their money. I must add that there is no proof that up to 80 percent of mining energy is from renewable sources since we know that China, the Bitcoin mining king still uses coal to generate a large chunk of its electricity. Coal is certainly not renewable energy source.
Plagiarized Web Copy
Scam sites such as Coinlux.co have a lot in common. The most outstanding is that they mostly are bereft of fresh ideas on how to convince investors that they are genuine. So they mostly copy content already created by similar sites.
As scam investigators, there are some statements that we easily detect that they could not have come from scammers so we scan such for signs of plagiarism. That is exactly the case with a section of the Coinlux.co site which stated:
“First built to exclusively mine Ethereum, the facility is being continuously upgraded for mining state-of-the-art Blockchain technology. COINLUX LIMITEDs computational performance is achieved with specifically designed mining rigs that efficiently mine hashing algorithms for various cryptocurrencies.”
A plagiarism check shows that this was copied from another site, a clear indication that the people behind Coinlux.co are determined to use any strategy to deceive people to make investment deposits.
Unrealistic Investment Plans
Scammers usually are left with no other option than to hope that people’s greed would motivate them to buy into their false investment plans. In reality, the easiest way to detect a scam is the ROI it offers.
Coinlux basic plan offers16 percent in 24 hours, with a minimum investment of $10 and Maximum, $10,000. The higher plan is 32 percent in 48 hours with minimum deposit of $50 and maximum of $25,000. The premium plan promises 50 percent in 3 days…
I wouldn’t bother elaborating on these offers but to state that anyone that believes that a scam site such as Coinlux.co could double their fund in just 6 days is crazy.
Could you imagine making a deposit of $1000 and getting back $2000 in just 6 days? If that is possible, everybody would be rich.
Coinlux is a confirmed scam, so anyone that sends their coins to this site would likely lose them. The company claims it is registered in UK, we do not care if that is true or not. There are many companies registered by scammers with the intention of using them as front to steal from people.
The affiliate program is meant to create awareness while the list of investors that made deposits is meant to fool new investors. Confirmed scams like Coinlux are better avoided.
If you’re interested in a genuine investment company where you could earn profit, check our recommendation. For comments on this project, please use the comment box below.