Coin Stream Limited (coinstreamlimited.com) is supposedly a professional wealth management company which mainly focuses on cryptocurrency trading and mining. They even offer compounding service which might seem like a nice gesture on their part but it is a trap.
The returns offered by them ranges from 1.2% daily to 2.8% daily, these kind of numbers are what newbie investors aim to achieve but know that it is not sustainable for long. Read our unbiased review to know how these fraudsters lure you in to their platform and then make money at your expense.
License and Contact Details
In simple terms this platform is an ICO which means they raise money from a group of retail clients for trading and in return the investors are promised certain amount of returns along with their initial deposit.
Companies which provide these type of investment opportunities have to comply with the laws laid down by regulatory authorities which are very strict. When we were trying to determine the legitimacy of this enterprise, We could not find any legal documents. We have confirmed through FCA, this firm is not overseen by them which means criminal prosecution awaits for the people running this firm.
Even on their platform they have not put up any details regarding their licenses which shows the kind of ethical values they up hold. The support team of this firm can be contacted through a contact form or via telephone.
Address – 125A Avenell Road, London, N2 1BH, United Kingdom
Telephone – +44 7453414923
How does Coin Stream Limited Work?
This firm is said to be involved in trading various cryptocurrencies. Though they exaggerate about their returns and accomplishments there isn’t a single drop of evidence to prove any of their claims.
The strategy they follow is not mentioned and there isn’t any verifiable trading history featured by them. They do not even talk about the aspects of trading such as risk diversification methods and dollar cost averaging.
Without having a clear idea about the way the funds will be handled how can any rational investor trust them? With regards to mining there is also a lot of ambiguity. First of all we do not know where their data centres are located and what scripts they run.
The type of miners they use in not mentioned and the margin of profits are not disclosed. Shortly put there is no means to verify anything they say and that is a huge red flag.
Plans and Profits
There are 4 investment plans offered by this platform wherein the packages which supposedly generates more returns require the investor to pour in more initial capital. Take a look at those plans and ask yourself is it doable in the markets?
Returns – 1.2% Daily
Min. Deposit – $100
Max. Deposit – $5,000
Returns – 1.8% Daily
Min. Deposit – $5,001
Max. Deposit – $15,000
Returns – 2.4% Daily
Min. Deposit – $15,001
Max. Deposit – $25,000
Returns – 2.8% Daily
Min. Deposit – $25,001
Max. Deposit – $100,000
All ponzi schemes success depends upon the number of participants they are able to convince to join their firm. In order to do their errands these scammers offer an affiliate program wherein the contract terms are beneficial to them and their marketers who are an integral part of their business model.
Basically anyone who has an online platform which gets traffic frequently can choose to promote them and get paid for their time and efforts. The affiliates gets paid 10% of the total revenue amount they bring in. Also remember that it is not compulsory for the affiliates to be an active investor in order to get their payments.
A simple query on whois.com revealed that this domain was registered on 22/05/2018 and it expires on 22/05/2019. The registrant details are unavailable as they have employed privacy services.
Though this website is few months old there isn’t any information about them on alexa.com and similaweb.com, also we are not able to pinpoint the regions they are targeting or are currently getting the traffic from.
If you have visited their website then you would have seen the pictures of the alleged team members of this firm. The funny thing about them is that there aren’t any names revealed by them and moreover the details of those employees are not put up.
We searched the internet to see if we can find any information but apparently there isn’t any which means the images featured are just stock photos.
There are a lot of testimonies on their website but they all appear to be cherry picked. When we tried to determine whether or not they are from real user profiles, we couldn’t reach any conclusion as there is no way to verify them either. Considering the way this platform operates it is most likely to be fake comments from bogus profiles.
Coin Stream Limited Review Conclusion
Coin Stream Limited is undoubtedly a ponzi scheme which might collapse anytime and there is no way to determine when it is going to happen. Easy money is non-existent and without having skills making money trading is just a dream.
Resist the temptations when you come across these types of offers on the internet and understand that knowledge is the only element which will help you build your trading capital, all the shortcuts will have some or the other demerits attached to them.
Do you have any experience with CoinStreamLimited.com? Share your opinion with us by leaving a comment below.
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