Coinsilo (coinsilo.org) is supposedly an ultimate cryptocurrency solution which generates returns of up to 120% every 7 hours. These type of returns are fake claims used to catch your attention and they are not backed up by any sort of auditory record.
This firm consists of highly skilled self proclaimed cryptocurrency analysts who claims to have the necessary knowledge and experience required to generate consistent returns from the market. When we were investigating this platform which has been operational for around 2 months as of writing this review, we were convinced that it is a ponzi scheme.
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License and Contact Details
After going through all the details provided on this website, we couldn’t find any information about the creators, portfolio managers or analysts behind this platform. Usually most of the reputable firms feature a detailed stats about the fund managers performance and update them once a year.
This ensures the transparency of the operation and helps the investors know the maximum win rate and draw down achieved by each manager but this platform has complete ignored to put up these details which is pretty disturbing.
Firms like Coinsilo which provide financial services to the retail investors are required to be regulated in order to operate lawfully.
This firm represents an ICO wherein the money required for trading and mining purposes is raised from the public and in return depending upon the contract entered by both the parties, the investors are promised certain monetary benefits. Since this firm does not share the details of registration, the only logical assumption is that they are operating illegally, simply put they are literally filling their pockets with clients money.
If you face any problem on this platform then the only way to reach support is through a contact form provided on their website. Now ask yourself what kind of investment firm operates without providing at least basic telephone assistance to their clients?
Once you send your money to this firm, they are least bothered about providing any type of service.
How does Coinsilo Work?
In the About us section of this platform there are just general information about what cryptocurrencies are and just basic explanation of their uses. Coinsilo group is a private investment organisation registered in the United States.
Their main goal is to tackle the already existing unequal investment opportunities and help everyone benefit from it regardless of their experience and investment size. This narration does not provide much information about the actual factors of trading such as risk profiling, money management techniques, directional bias analysis.
In the present scenario considering their narration it seems more like gambling rather than investing because their is no defined risk parameters.
What kind of profits does Coinsilo offer?
Do you like to double your money every week? who wouldn’t like but The returns offered by this platform are completely outrageous and impossible to deliver on a consistent basis.
Here are the details about the 3 investment plans:
Returns – 70%
Period – 7 Hours
Minimum Investment – 0.5 BTC
Returns – 120%
Period – 72 Hours
Minimum Investment – 1 BTC
Returns – 90%
Period – 7 Hours
Minimum Investment -1 BTC
Legitimate investment solutions can never afford to offer these type of returns.
There are a few testimonies featured on this website wherein the alleged early users explain how this firm helped them earn huge amount of money quickly and changed their lives.
Since there are no social media profiles attached to the comments, we couldn’t verify if they are from real users or not. We strongly believe that they are from bogus profiles with a stock photo attached to them.
Deposit and Withdrawal
The minimum deposit required to get started with this platform is 0.1 BTC. The deposit and withdrawal methods accepted by this platform Bitcoin, Ethereum, Litecoin and Bitcoin Cash. We are not aware if there is any transaction fees on the withdrawals.
The time taken for processing withdrawals is not stated anywhere on their website.
According to the data provided on Whois.com this domain was registered on 14/05/2018 and expires after one year.
Since this website is very new, we are not able to find much information about the countries they target and major traffic sources. According to alexa.com this website has a global rank of 8,753,971.
This website is available in more than 40 languages.
Is Coinsilo a Scam?
This whole platform is a set up used to trick inexperienced investors into thinking that they can become rich very quickly. If this platform was really genuine they would have put up their registration documents on their website or at least they would have featured a demo account so that the investors get to know their platform and confidently invest their funds.
Coinsilo Review Conclusion
If you are really serious about earning a living from trading online don’t believe any of these get rich quick schemes. Instead equip yourself with the right kind of education which helps you take informed decisions in the market.
Do you have any experience with Coinsilo.org? Share your opinions and views by commenting below.
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