Scam sites always go under… always. The reason is that they do not exist in the interest of the investors but for that of the fraudster. In this post, we shall look at Exchange Base, another site that claims that it is rewarding its investors with high profit in bitcoins.
The purpose is to ascertain if this is a genuine investment site since getting such sites have proven a tough call.
What is Exchange Base?
This is a site that claims that it is involved in the mining of cyptocurrencies. It asserts that its mining operations are so profitable that investors could start earning the very next day, a proposition that would obviously be irresistible to many investors.
However, savvy investors are aware that genuine investments take much more than mere braggadocios to come to fruition. We had misgivings about these claims so made efforts to find out what the people behind the site are up to. Despite the claims and encouragement that investors should:
“Invest in our tariff plans in order to provide yourself with stable and high-rated earnings. We have developed four profitable tariff plans each of which will allow having up to 300% investment profits with a guarantee. Invest in the most suitable option now and provide yourself with high and stable income the next day”
False Guarantees of Earning
As a rule, every investment site poses some risks even at the best of times, so any site that claims that it is 100 percent safe must not be trusted. This is what could be seen with Exchange Base that claims that:
“We offer our clients guaranteed earnings doing investments and contributing to the company’s development and assessment in Bitcoin mining.”
We can take a cue from the Securities and Exchange Commission website which states that:
“Guaranteed returns” aren’t. Every investment carries some degree of risk, and the level of risk typically correlates with the return you can expect to receive. Low risk generally means low yields, and high yields typically involve high risk. If your money is perfectly safe, you’ll most likely get a low return. High returns represent potential rewards for folks who are willing and financially able to take big risks. Most fraudsters spend a lot of time trying to convince investors that extremely high returns are “guaranteed” or “can’t miss.” Don’t believe it.”
High Yield Investment Scam
What would you say if I asked you to send me $1000 with the promise that I’d pay back $2,200 tomorrow? That is exactly what Exchange Base promises its investors.
Common sense should tell you that it makes absolutely no sense for an investment site to do that since they’re losing money they apparently do not have. It makes no business sense to double people’s money since the company is there to make profit.
It makes no economic or investment sense that a company could make 200 percent or more daily. In fact, no business has the ability to continuously make such profit to the extent that they could pay all who invest with them such massive profits.
We can therefore conclude that this is a scam meant to lure the investors by appealing to their emotional greed. Any investors that were deceived into believing that they would make all that money would lose their investments.
According to the site,
“During the whole investment period, every day to your account will be transferred profits equal to between 4.4% and 7.33%, regardless of the chosen tariff plan. You can withdraw your money at any moment by the request. The funds will be sent to your e-wallet instantly”
This is a sure trap to make you send your funds to this site. Sending it means losing your money because no one is going to pay you that profit. In fact, the only beneficiaries in this set up are the fraudsters behind this site.
False Resumption Date
Scam sites mostly backdate when they started business because they want to create the impression that they are reliable. It is a common test for reliability among investigative reviews for high yield investment scams.
The reason is that fraudsters behind such sites want to create the impression that their business model works. They want people to believe that they have been paying their investors over a long period and so are reliable.
However a simple Whois search always shows the age of the domain. This gives insight into how long such sites have been online. This result shows that the Exchange Base domain has been only since September 14, 2019.
This is contrary to the claims made on the site that it has been online since May 23, 2017.
Owners Not Known
Fraud sites do not list the identity of their owners for obvious reasons. No scammer wants to be caught so they make sure that there are no easy to track trails leading back to them.
Genuine investment sites have known owners and managers. They are regulated by the appropriate regulatory agency such as SEC or FCA. They would not guarantee earnings that are not in tune with reality and they live up to their promises.
Exchange Base is run by amateur scammers but this review is necessary because we have leant that irrespective of how poorly a scam is set up, there still are people who fall for them because they do not know what to look out for in assessing investment sites.
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What is your view about Exchange Base? Please send them in through the comment box below.