There are many instances in which people are made to believe that making money is so easy that all you need is get a good site and your dream income would be yours.
Although it is possible that you can earn all your income on the internet, sites such as Earn Profit push the limits in assertions so we shall analyze it to enable you make informed decisions.
What is Earn Profit?
This is one of those sites that claim that they have been into cryptocurrency investment either through mining activities or trading. They therefore promise investors that what they need to do to make profit is simply investing their funds.
Earn Profit claims to be a UK registered company that has been in operation since 2017. It claims that it is managing more than 1000 accounts for its clients, stating that the managers are a group of professional traders that have achieved efficiency through a synergy that enables them to make consistent profit.
The site claims that it manages diversified portfolios making it impossible to incur losses. It therefore invites investors to take advantage of its expertise to make profit.
According to the site:
“Simultaneous trading of multiple digital currencies allows earn-profit.co to diversify risks by blocking the sagging rate of one of them with successful transactions with another cryptocurrency.”
Is This A Reliable Company?
Insomuch that the prospect seems enticing, there are some disturbing signs about Earn Profit that should be taken cognizance of if the investor would not lose their funds.
Some of these signs are what is usually seen with scam programs that promise so much but deliver little or nothing. This is why it is important that every investor carries out due diligence before sending their funds to a strange site.
Are High Yield Investment Sites Safe?
How would you feel if someone asks you to lend them $1000 with the promise that they’d pay back $2000 the following day? Would you believe that it’s a good deal? Obviously, but such propositions are suspicious because if they could get $1000 in 24 hours, why do they need to borrow your $1000 today?
Promise of high profit is one of the strategies fraudsters use in convincing investors to make deposits with them. Such propositions usually turn out badly for the investor.
The Earn Profit site promises investors that they could earn 120 percent of their investment in 24 hours. This is more than doubling their investment in a day. As we earlier stated, this is a ploy to get the uninformed to send their funds to the fraudsters behind this site.
Regulatory agencies such as Securities and Exchange Commission make it clear that sites like this cannot be trusted because they offer what is not realistically possible to pay. In fact, such earning possibilities do not exist among genuine investment sites.
Fake Deposits And Withdrawals
You would notice a “Deposit” and “Withdrawal” section of the homepage. A careful analysis would show you that there is no way of proving that these claims are genuine.
It is a common practice among scam sites to create the impression that they are genuine businesses that people are using by posting such deposit and withdrawal statistics. Do not believe information you read on sites such as these.
Company Dissolved Since 2017
Despite claims that the company was registered in UK, we found out that it has since been dissolved according to records available at the Company House, the UK agency in charge of registering businesses.
It is important to note that having a registered business does not necessarily mean that the operation of such entity is legitimate. In fact, there are many businesses registered with the aim of defrauding people.
In our context of online investment, unless a site has a reputation that it has built over time, has owners known to be honest and supervised by the appropriate government agency, it is not safe to invest with such businesses. In fact, it is the quickest way to lose your funds if you play around unregulated sites with no online credibility.
Furthermore, there are no phone numbers to contact that shows that the individuals behind this site are identifiable and are operating their business at the location that they claim as their operational office.
Duration of Business
Fraud sites routinely lie about how long they have been online. The reason is that they’re aware that more investors would likely believe they are genuine if they convince them that they have been around long enough and have been paying other investors.
A whois search shows that Earn Profit domain was registered on June 6, 2019. This contradicts the claims on the site that the business has been online since May 10, 2017. The Company House records show that the company was dissolved on November 7, 2017, so all the claims on date were intentionally falsified.
Sites that post misleading information are most certainly meant to defraud investors who do not take due diligence seriously.
Another trick employed by the site is plagiarizing content from other sites in the quest to get a convincing copy. This is an indication that the scammers behind this site may just be in a hurry to set up as many fraudulent schemes as they can.
The reason fraud sites thrive is that the individuals behind it are aware that there are many people who would invest their money without conducting a thorough check on the veracity of claims of the business. People who research actually safeguard their investments.
If you’re thinking of a genuine platform where you can grow your assets in a legitimate manner, you may do well to check our top recommendation.
If you have had experience with such sites, please share them with us using the comment box. You can also give suggestions on suspicious investment sites that you would have us review using the contact page.