There are so many people that do not understand the basic concept of cryptocurrency. This is why they believe that it is a simple thing to make investments and profits irrespective of market conditions and mining difficulty of specific coins.
Fraudsters such as we have with Ultraprofits set up random sites and persuade uninformed investors that they could make gains by investing in their schemes.
What these people do not understand is that digital currencies and assets is money and as such are not randomly generated contrary to the claims made by scam investment sites. This is why it is important that people are educated before attempting to make crypto investments. In this post, we shall examine Ultraprofits to determine why this is a site that you should avoid.
Before we proceed, you might want to check a genuine investment site that we recommend for you.
What is Ultraprofits?
Ultraprofits is a site that wrote that the company behind it is involved in the trading of digital currencies. According to it, the team has passion to trade digital assets using advanced technology and has succeeded in making so much profit that it is now eager to teach others how to grow their portfolios.
It further claimed that built the first mining farm in Eastern Europe for the purpose of generating cryptocurrencies as well as helping investors increase their holdings of digital assets. It is so easy to claim that you’re making profits, especially when you do not feel obliged to provide a solid evidence to back up the claims.
A Zero Risk Investment?
Interestingly, it claims that all these are accomplished without risking the funds of the investors:
“These pros are fanatical about achieving far greater returns with ZERO risk. For 6 years we have helped countess individuals explode their portfolios with no-risk profits.”
From the foregoing, it is obvious that these are spurious claims since there is no genuine investment company that would assure you that you face zero risks in your investment since it is obvious to every savvy investor that there is no such thing as zero risk in investments.
Now, if this company actually owns a mining farm that has been operational for 6 years as it claimed, why could it not provide verifiable evidence to support that claim? Moreover, why would it need your investment funds if it is making all that money?
Claims of zero risk is a strategy employed by fraudsters and should raise suspicion in the minds of every serious investor. You can see this from the warning issued about fraudulent investment sites by the Securities and Exchange Commission. According to the agency:
“All investments have risk, and investors should question any so-called “guaranteed” return. Be wary of anyone who promises that you will receive a high rate of return on your investment, especially with little or no risk. Claims such as “risk-free”, “zero risk”, “absolutely safe”, and “guaranteed profit” are hallmarks of a fraud”
Duration in Business
Due to its claims that it has a mining farm that has mined cryptocurrencies for 6 years, we conducted a Whois search on the domain and found it was registered on September 2, 2019.
This is not surprising since fraudsters use every possible strategy imaginable to deceive people. A 3 month old site claims it has been around for 6 years – a clear hallmark of a scam investment site.
Scam sites rarely have a better way of attracting investors than promising overnight riches. This can be seen from the ROI promised investors on the Ultraprofits site. The lowest returns seen in the so-called investment plans is 8 percent in 15 hours. There is no doubt that this is an impossibly unrealistic return on investment.
We can therefore conclude that this is just bait meant to get deposits from the investors. Those that send money to this site would lose their funds with no possibility of making any profits.
One recurring feature of scam sites is that they use false information to deceive investors. Some go further by fabricating false testimonials as seen with Ultraprofits. The owner of the site used stolen images from the internet to build fake identities for the testimonials as shown from the images.
Your best bet in investment is using companies that are known to be genuine. These are the ones that have built online reputation and have owners whose identities are know. It makes no sense to send you digital currencies to strangers whose intentions you do not know.
There are thousands of scam sites launched daily. Their motivation stems from the fact that many investors do not research before sending money to scammers. If an investment proposal promises you quick wealth, the motive is to steal your money. When it’s all been said and done, the only beneficiary is the fraudster behind the site.
For a genuine investment site that would help you build your assets through a well-articulated social investment and copy-trading scheme, check our top recommendation.