As each day passes, you discover that getting a trusted, reliable and dependable investment platform is somewhat not an easy task. This is as a result of the exponential increase of scamming investment sites with outrageous compensation plans. Hourcool is one of such sites.
As the name suggests, it is an hourly profit cash scheme that promises its investors instant cash out. This in itself is the first red signal that every savvy investor would observe on the site. What kind of investment platform yields turn around within just a few hours? Its an enticing bait to get naïve investors.
This is why the Securities and Exchange Commission warns that the investor’s best security against fraud is in educating themselves to protect their funds from fraudsters. The right frame of mind and being well-informed about trends, present profit possibilities and research about investment opportunities are essential in preventing losses to scams.
What is Hourcool and How do they operate?
According to the information provided on their official website, they claim to offer hourly profit cash and instant payment platform that is secure. They also claim that they were founded by a group of elite venture capital investors and manned by a group of professional cryptocurrency and forex traders.
One of their major selling points is that they guarantee that they will make an individual to become financially free within a very short period of time.
They promise prospective investors a profit mark that is too good to be true. They also claimed to give their investors opportunity to receive stable and real profit from successful forex and bitcoin trading.
The Lure of Quick Wealth
One fact that people who fall for these tricks fail to understand is that no one would make them rich overnight. There are no sites that would make their funds double or triple in a short time. The Securities and Exchange Commission Investors Alert on fraudulent cryptocurrency schemes noted that:
“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.
After the investors make an investment, typically using a digital asset such as Bitcoin, the fraudsters in some cases stop communicating with the investors altogether. These fraudsters can quickly send your money overseas, with little chance of you being able to get it back.”
The Hourcool site further claims to accept Bitcoin, Litecoin, Ethereum, Bitcoin Cash, PM and Payeer. In our experience reviewing scams, this is the only truth you can attest to on the site. Send them funds through any of those platforms but do not hope that you’d get anything back. It’s just like pouring your funds down the drain.
High yield Investment Scam
To be part of their platform all you need to do is register, then select the plan you want to invest under. They basically have three plans. Plan I (which promises 0.9%-1% for 120 hours and a profit of 120%), Plan II (which promises 20%-25% for 48 hours and a profit of 384%), and Plan III (which promises 20%-25% and a profit of 600%).
One key point to note here is that they did not provide any proof showing how they hope to achieve the profits they promise their investors.
You can see that this is basically a strategy to attract gullible investors who want to get rich quickly. The profits they promise is not feasible. If it were, they wouldn’t want to share it with anyone.
They have no track record of having any guarantee profits in trading. No trader is making such returns. Our conclusion here is that this is a potential exit scam. They will gain the trust of many investors by paying the early investors and abscond with the remaining. They may never pay anyone at all but steal as much as they can before pulling down the site.
The Director is A Faked Identity
Scam sites never expose the identity of the owners for obvious reasons. Who wants to be arrested by the police? The site posted their registration certificate but the identity of the director listed as Stewart Bryce is a fake one. It is just as if the individual does not exist outside the Hourcool website.
We have always warned our readers that company registration does not imply that the activity of the entity behind it is genuine. There are thousands of companies registered by fraudsters with the intention to steal from people. This is why you must conduct your own due diligence to determine the intention of the people behind a site.
Scam sites proliferate because scammers actually make money by deceiving people. If you must invest, it makes sense to first learn about investing. Never send your funds to a random site. Most of them claiming they would help you make profit are mostly scams.
Genuine investment sites warn you of the risks involved in investing and how you can best avoid it. More so, good investment sites help you make money the best way they could, even though they don’t promise quick riches.
Fraudsters promise high returns to steal your money. They do not care how hard you worked before saving it. That is why you should be smarter than the fraudster. For the site that I use for my investments, check here.
What is your impression about Hourcool? Please share them using the comment box below.