With thousands of websites launched daily, it has become obvious that it takes a lot of effort to sift through the mass of information. Confusing issues is the fact that many investment sites are actually in business to defraud the investors. In this post, we shall examine Cryptoix to find out what the site stands for.
What is Cryptoix?
This is one of those cryptocurrency investment sites that do not care for the finesse of pretending that they want you to what they are doing. So their focus is on making you believe that there is money to be made. The real danger of sites like this is that it is exactly what would lure many who have no time for due diligence.
What would you say about a site that claims that it is the best in its industry even though it could not present a proof to back that up? It does more than that, but based its claim on its managers being professionals with many years experience in investing.
It is just as if the qualification to be the best is having experienced professionals in your team. It is a wonder that every company with such skilled professionals are not the best in their niches.
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Is Cryptoix Making Money?
Despite its claims, there is no evidence that this is a site that is involved in any form of financial activities. The basis proposed by the site for which the owners presumed that it is worth investing with are mundane.
Reasons such as arrogating to themselves highest rates of conversion in the industry, without showing any evidence of such conversions was projected as basis to invest on the site.
Just think about it. Isn’t it weird that an investment site is claiming that conversion is a basis of investment? Conversion of what? If it is crypto to crypto exchange conversion, it did not introduce the activities of the company to include exchange services.
If it is site conversion of traffic, it is an indication that you’re dealing with another ponzi scheme. And according to reason, all ponzi schemes are scams.
This Won’t Necessarily Make You Money
Another feature it projects as a reason why it is a viable platform for investment is its user interface. Could you imagine that a site that didn’t introduce how it hopes to make money claiming that an easy to use website is a basis to spur you to invest? What contribution does a good website make if the operators of the business don’t know what they’re doing?
Using Bitcoin Features
Interestingly, the site added as another reason why you should invest in it as the “fast, convenient and anonymous bitcoin payment” which is rather curious. How does this contribute to making money on the site?
The conclusion that any experienced investor would reach while assessing this site is that it intentionally was designed to fool people. You would understand this if you read some of the scam warning alerts on the SEC website:
“Fraudsters often use complex new technologies to perpetrate investment schemes. They can claim their technology is highly secret. Investors should always be suspicious of hard to understand pitches that accompany promises of outsized returns. Sometimes the language includes spelling, grammar, and typographical errors that can make the description confusing – another red flag the “investment” could be a scam.”
You would notice that the site consistently wanted to arrogate the features of Bitcoin to itself. When it talks about its technology being able to handle payments without delay, it laid emphasis to load, indirectly pointing to scalability which is a concern to many blockchain projects.
In other words, it wanted to deceive people who have little understanding of the technology to believe that it is another blockchain project that has surmounted the scaling challenges.
False Withdrawal Stat
It is a common strategy employed by scammers to display figures that seemingly reflect the flow of funds under deposits and withdrawals. Cryptoix went further by making these ‘transactions’ look real, but in reality, these are arbitrary transactions pulled from the Bitcoin network.
If these were payments made by Cryptoix, they would have originated from the same wallet, but they didn’t. This shows that this is a well articulated scam. The advantage the fraudsters depend on stems from the fact that they’re aware that most investors do not really crosscheck information provided on purported investment sites.
Here’s another statement from the SEC website:
“Scam artists don’t care how you have come across your money. They don’t care whether you worked hard all your life to earn your money, or whether you hit the lottery the first time you played. It is your money they want. The only thing that may stand between a fraudster and your money is your preparedness when you are approached.”
When reviewing scams, we have a hard time determining why anyone should put their funds in these sites debar the lure for quick wealth. Ordinarily, reviews should talk about the pros and cons of the business, but for fraud sites such as this, there is none.
When a site claims that it could pay investors 120 percent interest or higher, we are left in no doubt that it is an exit scam in the making. Why else would a business promise you that they would double your money in 24 hours? It takes someone who isn’t conscious of protecting their investment to believe that.
When you understand that scams are eager to deceive you and steal your funds, you’d never get near them. The good news about investment is that there are regulated sites that you can depend on.
In reality, it is investment disaster to play around with obscure, random and unregulated sites. This is why we tell investors to target well known sites that have built online credibility. For the site that will help you through social trading, check our top recommendation.
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