Babultr (babultr.com) investment is a firm which claims to be providing crypto enthusiast an easy and generated income from 2016. Their platform is very basic and straight to the point. The major factor which peaked our attention while going through this service is the amount of returns they advertise which is 20% daily with no risk involved.
If you have an ounce of experience in trading or markets in general then you will know for sure that the returns like these are impossible to achieve on a daily basis. Continue reading our impartial review which will give you all the insights about how this ponzi scheme work.
License and Contact Details
Any investment firm has to be licensed and regulated in most of the countries, Babultr represents an ICO wherein the funds required for trading cryptocurrency are raised from a pool of retail investors and according to the agreement entered by the investors, they are entitled to some amount of returns in the near future.
Though we spend a lot of time looking for the license details of this firm but sadly we couldn’t find any. We have confirmed through FCA which is thee regulatory authority in charge of the investment companies in the UK region, this firm has never been licensed thereby are in direct violation of law.
This company has put up details of incorporation on their website but do not get played by these kind of deceptive tricks, they have no right to trade on behalf of the clients. There are no contact details revealed by them and the only way to reach support is through a contact form provided on their website but do not expect quick replies or interaction as there have been complaints about how unethical the support team behaves.
How does Babultr work ?
This firm has refused to share any information about how they allocate and handle the money. They claim to be actively trading cryptocurrencies but there isn’t any narration except that.
Trading has a lot of elements involved like proper analysis methods, risk profiling, diversification etc., without which achieving success or profit will be impossible, these crooks are least bothered about address the above stated topics. We do not know which approach they take, there isn’t a clue about how they have structured the lot size.
In fact since they have failed to put up the names of the fund managers and do not have any trading history or evidence to support their guaranteed claims how can an investor trust them ?
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Cryptocurrency has a lot of volatility which are enough to create reliable source of revenue by trading them only if you know how but still in any investment related field no one can guarantee the kind of money you might earn because it is unethical and no one knows for sure how the markets will react in the future but this platform claims to generate returns up to 20% daily forever which sounds like a dream, right ?
Returns – 12% Daily
Validity – Forever
Min Deposit – $5
Returns – 15% Daily
Validity – Forever
Min Deposit – $7,501
Returns – 20% Daily
Validity – Forever
Min Deposit – $15,001
Almost every fake platform we have come across provides high rewards to the marketers as they are the main reason behind their success. This firm encourages the individuals to refer investors on their platform.
The affiliates are gets 10% of the deposit amount made by their referrals. Just like an overblown pyramid scheme this platform offers tier-3 level. It is not mandatory for promoters to keep an active deposit in order to get paid.
Thanks to similarweb.com we know that this website ranks 16,570,270 globally and it ranks 199,892 in Philippines. This service seems to be targeting users from Philippines.
This domain was registered on 21/01/2017 and it expires on 21/01/2019. we could not find any registrant contact details.
Deposit and Withdrawals
The minimum amount required to get started with this platform is $ 5 and the minimum withdrawal amount is $ 0.10. The e-currencies accepted by this firm are Perfect Money, Payeer and Bitcoin. The withdrawals are not imposed with any fees and are said to be processed instantly.
Is Babultr a Scam ?
A Blatant one,
As you can clearly see after going through all the topics discussed above, there isn’t any clue left behind by these skilled scammers which would help us in tracing their identity. So at any point of time something fishy happens then you are completely helpless.
For an instance let’s assume this firm was indeed legit then why don’t they feature a demo account like most reputable platform does ? It is because they have no respectable skills in trading and are just using false narratives to attract investors.
Babultr Review Conclusion
This company is run by a group of criminals who will face prison once they are caught. They are operating illegally and employ every shady trick commonly seen in scams. The main reason they are able to pay some clients is because they create a loop of deposits and withdrawals where in the former will be more but eventually this scheme will meet its horrible end.