There are many platforms set up in the bid to have investors make deposits on the internet. What is worrisome is the integrity of many of these sites especially those that are investment based. One of the concerns of review sites these days is the now rampant cryptocurrency investment sites such as Xcrypto.
Such concern is warranted mainly because the digital currency industry is largely unregulated. So anyone could set up a site without authorization, promote them and have some investors send funds to such site. At that point, the outcome of such investments solely depends on the credibility of the entity behind the site.
Millions of dollars have already been lost to malicious entities making the need for due diligence even more pressing on the part of investors.
What is Xcrypto?
Xcrypto claims to be a cloud-based automated trading platform that uses special algorithms to trade for investors. The platform stated that what their investors need to make good profit is just the purchase of their investment plans.
According to Whois, the domain, Xcrypto.biz was registered on March 23, 2019. The site promises a $15 trading bonus which may not be out of place. However, of concern is the authenticity of the platform since we are aware that many such exchanges are set up to steal investors’ funds.
Aside trading, Xcrypto claims it is involved in arbitrage also, assuring the customer that it has an efficient support that would attend to any problems when they arise.
However, a critical examination of this trading platform leaves a lot desired. Arbitrage is a claim made by many platforms as a quick way of making gains, but very few ever proved they’re actually doing so.
These days of algorithms and artificial intelligence makes it easy for sites to lay claims to unsubstantiated activities with the hope that there’ll be enough people that believe such tales and buy into their plans, which are often scams.
Scam sites usually don’t have original ideas on content, especially if they’re operating on low budget. This is why they usually hire cheap copywriters whose work show that the site lacks originality.
According to the Xcrypto site’s explanation on how it makes profits through arbitrage, it stated that,
“As price differential for cryptocurrencies can be quite large across exchanges, there is ample opportunity to make arbitrage trading profits in the digital asset space. Even the most liquid crypto asset bitcoin trades at different price levels on different exchanges.”
That statement was clear copied from a Medium post made by a forex trading site.
This means that most of the content on the site were plagiarized from other sites. A check on different sections of the site proved this. For instance the section of the site that describes automation stated:
“Xcrypto is a professional asset trading terminal which works without manual control. To begin, you should make deposit funds, and just rest. Automated asset trading is convenient as the terminal works 24/7 and track all market changes.”
This section was copy pasted from another website.
False User Reviews
What would you say about fake reviews on a platform that wants to manage financial assets for people? The testimonies on the Xcrypto site were all copied from another site.
Let’s use this as an example. It is from someone they named Tim B. It says,
“ Whether you are completely new and looking for a way to get into the cryptocurrency scene or a veteran, this is the bot for you. Here you will find a dedicated dev team that listens to its members, which has resulted in a helpful, friendly and very active Xcrypto community. “
Interestingly, as you can see, they copied every letter except the name of the site from which they got the testimonial. A closer look at the site shows that Tim B was credited with another comment which could mean that the individuals behind Xcrypto may be serial scammers.
One strategy that scammers cannot resist is because it is simply the only way to attract victims is high ROI. They’re aware that people generally follow the money, so they offer high profit as baits knowing that the uninformed and the greedy would find it irresistible.
The Xcrypto investment plans are offering free coins and investments returns of up to 400 percent. This is clearly very dubious because it is impossible for any site to share such profits.
We can only come to the conclusion that the essence of making such promises is to bring people to make investments they’ll never make profit from.
Investing in this platform is an invitation to losses. There is nothing legitimate about this investment. There are better investment opportunities that every serious investor should pursue.
This is why we always encourage investors to conduct some research before parting with their funds. This is so important because there are many scammers in this industry.
For the site that we recommend, please check here. If you’re in doubt about any crypto investment site, do not hesitate to let us know about it. We routinely let people know what is happening behind the scene with scam investment sites.
What experience have you had with Xcrypto? You may share them using the comment box below.