There are many investors that are searching for the best income generating deals online because it is common knowledge that cryptocurrencies have made many investors wealthy. Dogebase owners are aware of this are seem eager to offer to these investors what they need.
However, we have known that the crypto industry is fraught with risks which have resulted in loss of fund to many investors. Nevertheless, we are aware that many investors are still in profit because they’re aware of what it takes to make the right calls.
In this review, we shall take an in-depth view of the offer made by Dogebase with a view to making proper assessment to make sure that it is genuine so that your investment would be safe.
At Cryptoinfowatch, our emphasis has been on making sure that the services we recommend to investors are safe and profitable. We also search out those offers that seek to steal your funds and give timely warnings about them.
What is Dogebase?
According to information available on the website, this is a crypto trading site that using AI to make trades. It features instant withdrawals and a DDos protection for the users of the site. This in essence assures the users that the site is safe.
The platform claims that it is registered in the UK and manned by professionals who have many years of experience between them. It stated that it uses a complex system of machine learning to make profit in its transactions.
This means that whatever they claim to use gives them clear predictions on the trade and options on how to enter and exit trades to be ahead of other players.
However, we decided to run a background check on the claims made by the site to be sure that it is something that you could rely on before making investment decisions on this site.
No Online Credibility
The first issue we discovered about this site is that it has not built an online reputation. What does this mean? It essentially means that there is no way you can trust what was written on this website because it is very new.
Beyond that, the company behind the site is also a newly registered company. According to its UK Company House certificate, Dogebase was registered as a business entity on July 22, 2019. With an entity that has been in existence less than a month making claims that it is already in profit, it leaves a lot desired and a pointer that this could be another fraud.
A Whois search shows that the domain, dogebase.io was registered on the same July 22, 2019. There is no indication that the promoters of the site have been in business of trading in the crypto market prior to this date.
These are signs that suggest that this is not a site that you should readily send your DOGE to just because they said they could help you make profit. Before you trust an online site with your investment, it is of essence that you check its antecedence.
This can only be done if it has one – people who have used the service and can vouch for the company that it actually delivered on its promises. In this case, it is obvious that what Dogebase has are just claims that it is making profit, claims that they couldn’t back with evidence.
One of the features of scam investment sites is that they usually offer returns that are not at par with the going rate in the industry. The Securities and Exchange Commission gave some clues on its site regarding such investment offers:
“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.”
This is exactly what the Dogebase site implied it could do as seen from its investment page. According to the site, if an investor makes a minimum deposit of 300 DOGE coins, they would be entitled to daily 20 percent returns indefinitely.
Ordinarily, this doesn’t make sense because such profits are impracticable. There are even higher returns of 500 percent in just 15 days and another of 1200 percent in one month.
These are clear indications that you’re dealing with a scam that is interested in making the investor to make the deposits. Whether you would receive profit for your efforts is another issue altogether that does not really bother the fraudsters behind the site.
Who Owns This Site?
Hoping that the owners of scam sites would hint you on their identities is rather asking too much. Fraudsters are careful never to reveal their identities even though they expect you to send investment funds for them to manage.
Doesn’t it make sense that you should never send your funds to entities that you do not know?
According to the site, their office is located at 23 William Road London, United Kingdom, NW1 3EU, but a search for the address did not link the property with Dogebase. This is not surprising since most fraudulent sites would not give the actual location of their operation.
Cryptocurrency scams are among the common these days. The fraudsters carefully create and promote sites hoping that some investors would not care to research details before sending them their funds.
All information on the Dogebase site was meant to convince you that you have a site that would make you rich. There is even a false stat showing latest payments and deposits. These are known wiles employed by scam sites. Do not be fooled.
Always cross check that a site is registered by a financial regulator and has authorization to render financial services before dealing with them. A registration of business is not evidence that a site has authorization to render such services.
This is why we always recommend a regulated investment site for all investors. If you need a good site that would help you grow your assets, please check our top recommendation.
You can also share your views on crypto frauds using the comment box below.