Obviously, you came across Coinpride in your quest to make some money online and you’re wondering if this is real business that could make you rich. This is something that you needed to crosscheck to know the veracity of their claims so you came upon this post.
The reality is that there are many investment sites that would make you money. However, there are many others that would make you lose money.
In fact, the Securities and Exchange Commission states that the reason most investors who lose money do so is that they never care to educate themselves on the investment proposition that came their way.
These days, we at Cryptoinfowatch have noticed that scams are increasingly taking a recognizable pattern. The explanation is simple: these patterns work and the fraudsters have no intention of changing a format that is known to convince the uninformed to make deposit to scammers.
This is why you must research on every scheme out there to determine if they are legitimate, genuine and approved to render financial services before getting involved with them.
What is CoinPride?
Coinpride is a company that trades on forex, gold and other derivative markets according to information available on the website. The company claims that it is manned by professionals whose skills are attracting investors from all over the world to stake their investments with them due to the opportunities and new markets that they are exposed to.
The site claims that they are operating in a safe environment, which means that there are no serious risks involved in investing with the company. The company also claims that it has a license to operate and has registered with the UK Company House.
However, our investigations show that there are issues that need to be addressed if you are to consider this site credible. These are the issues that would be analyzed in the rest of this post.
Registration isn’t License for Operation
Anyone can register a company. In fact, thousands of companies are registered every hour by all manner of people all over the world. This means that scammers can conveniently register businesses that they intend to use for criminal activities.
So the fact that a company is duly registered by the relevant government agency doesn’t mean that it is involved in a legitimate business. Crooks have businesses that are registered that are used as fronts for their nefarious activities.
This is why no investor should consider investing with an investment site based solely on the fact that it is registered. Also, registration of businesses is distinct from having specific license to render, say financial services.
On the Coinpride website, it claimed that it is licensed but the link leads to its purported registration certificate which we found to belong to another company. Fraudsters take advantage of the fact that many investors do not research before sending their funds to strangers who are mostly crooks.
A known Format for Scams
One of the most common format employed by fraudsters is to set up high yield sites. They do this knowing that most people are eager to get rich with little or no work. There are a lot of people that believe that a site like this could double their investments in a short time. In reality, they get shocked when they realize down the line that they had lost their funds to scams.
Coinpride promises ROI that is completely not feasible…..There’s a 90 day tenure 3.14 percent daily interest. Where would they get that sort of profit from? It gets even more ridiculous with a 425 percent ROI on another plan. If you believe that this sort of profit is possible, you’ll likely fall prey to scams….
Bear in mind that it is very easy to put false and unverifiable information on a website. What these fraudsters do is create the impression that when an investment is made, they trade with it and send back to the owner a high percentage of their capital that makes the investment worthwhile.
No business does that in the real sense. What sites like Coinpride and many others like it hopes to accomplish is to convince you to make deposits and then steal your money.
This is why they would lie about how long they have been operating, lie about the number of investors they have and the volume of funds they control.
They would also create the impression that there are many investors being paid as there are those making deposits. This is to make you feel that it is a safe place to invest with, but at the end of the day, what you’ll discover is that you’ve been dealing with an exit scam.
A Fake Registration Certificate
When you click on the so-called license on the Coinpride page, you would see that the registration certificate with the number, 11334188 actually belongs to another company, Assetrexint Trading Limited.
The owner of Coinpride is aware that many investors do not really read in-between the lines and further to check what they’re investing in. This is why scams thrive.
Interestingly, Assetrexint Trading Limited was dissolved by Company House on October 1, 2019. Everything seems to have worked against this scam but experience has taught us that some investors still fall for the most obvious of scams.
Owner’s Identity Not Known
Why would you send your assets to strangers who did not reveal their identity just because they have a website? Would you pass your funds over to someone you just met on the street who is a complete stranger that you may never see again?
This is exactly what many investors do. According to the SEC website:
“Fraudsters rely on the sad truth that many people simply don’t bother to investigate before they invest. It’s not enough to ask a promoter for more information or for references – fraudsters have no incentive to set you straight. Savvy investors take the time to do their own independent research.”
Lied About Duration in Business
A Whois search shows that the domain used by Coinpride was registered on March 4, 2019. This contradicts the claims that this is a business that has been online for years as claimed by the company.
The reason scams extend the duration that they have been online is the belief that people trust sites that have built online credibility over time. It is foolhardy however to believe that a site that has been online a couple of years is reliable even when other factors prove otherwise.
Coinpride is an ongoing and active scam. It is advised that every investor avoids this site since making deposits to the company would result in losses.
Reliable investment sites must be authorized to render financial services and also have the right regulatory authority supervise their activities. You may check the site that is our top recommendation and learn how to take advantage of the social system and grow your investment.
What is your experience with Coinpride and similar scam? You can share them using the comment box.