There are many sites online that actively compete to have investors send cryptocurrencies promising that such investors would make profit. Hellself is one of such sites and in this review, we shall check if this is a good investment option for you and your friends.
It is quite common to see sites like this grow quite popular, especially if they have been online for extended period of time. The notion people get is that this is indicative of a profitable site, but is it?
There are many features to look out for in an investment site to ascertain if it is worth investing in. When these features are not present, it is advisable to avoid such sites than risk your funds and regret later.
What is Hellself?
This is one of those investment sites that claim they could generate consistent passive income for their users if they buy some investment plans.
Hellself claims that it is an investment website that is involved in cloudmining activities. We took a closer look at the site considering that it has been online for more than 2 years and found out that it could not have been paying its users consistently as it claims based on its cloudmining operations.
This is premised on the fact that cloudmining and other sorts of mining operations are not as profitable as they used to be. This has not translated to the minifying of the claims made by some of these sites.
In other words, you cannot become rich overnight through cloudmining operations, even though there are sites that would want you to believe otherwise.
Other Sources of Revenue
However, Hellself claims that it has other sources of revenue. On its About page, it stated that it is involved in crypto trading activities also.
The company claims to be registered in the UK, even though this does not mean that it is legitimate, we found out that most of its traffic are from North America. This means that the claims of UK registration may be false since it is unlikely that a site that registered in the UK would not render its services there.
It is important that you understand that the fact that an entity is registered, does not confer to it the authorization to offer financial services to the public.
What we have discovered over months of investigative reviews for scam sites is that many entities are registering companies with the intention to use them to steal from people.
Nevertheless, with the structure of the web, every site can get traffic from every part of the world unless it is restricted to specific geography.
A Blank Certificate
There is no indication on the site of the owners, although what is clear from Whois search is that the domain was registered on December 28 2015.
We tried to get the certificate of the company but found out that it was not actually registered with the Company House, the UK business registration and incorporation agency.
The fraudsters behind this site merely uploaded an empty certificate hoping that the investors would not be thorough in their quest to make money.
Stole Another Company’s ID
The registration number that Hellself claims it was issued by the Company house actually belongs to another entity, Bitzilla Limited which was dissolved on May 22, 2018.
It is likely that Hellself stole this reg. number just to claim legitimacy among its investors.
The Securities and Exchange Commission stated on its website that:
“The SEC’s Office of Investor Education and Advocacy (OIEA) is issuing this Investor Alert to warn investors that fraudsters may misrepresent their backgrounds and experience to lure investors into investment schemes.”
This is exactly what Hellself has done. Many investors may be misled by this act. This is why it is necessary to conduct appropriate research before making investment decisions, as highlighted by SEC.
“Before investing, investors should verify that any person who tries to sell them an investment product or service is properly licensed or registered and should not make investment decisions based solely on assertions regarding the person’s credentials or professional experience, including claims found on the Internet or in traditional media sources.”
False Claim of Location
The company’s address profile shows that its operations are located at 126 ALDERSGATE STREET, LONDON, EC1A 4JQ, but a background check of that location shows that the building is a virtual address that is used by businesses that are not physically located there.
The concept is to create the impression that they’re operating from a prestigious side of the city of London. This is why there are 75 companies using this address.
Other Claims made by the site is that the investor would receive lifetime earnings from their Bitcoin investments. This is not likely to be true judging from the antecedence of this company.
The Investment Plan
Hellself has one investment plan irrespective of the amount that the investor deposits. The minimum investment amount though is 0.001BTC. The investment supposedly yields 0.16 percent hourly or 3.84 percent, daily.
We came to the conclusion that these earnings are improbable in the cryptocurrency space. There is no possibility that any investment would consistently yield such returns. In fact, it is against SEC rules to give investors guaranteed earnings because no business can guarantee its earnings.
Meanwhile, some users have sent in their experience to scam Adviser. One user Glorry 700 wrote:
“Scam! The company has not been displaying for 2 days already; messages are not being read, do not respond. Waiting for the withdrawal of their funds”
Another, Luigi Fortino wrote:
“I tried to contact the company to receive information and support using the direct channels on the site, but I never received a reply. be careful to invest your money!”
Our opinion is that sites such as this use promise of assured earnings to lure in investors just to steal their funds. This is why it is important that you use only regulated companies that have licenses to render financial services.
You can check up our top recommendation for an investment opportunity that shows you how to grow your assets without incurring the risk of being stolen by fraudsters.
Have you had experience with Hellself, please share them with us using the comment box below.