CryptoMain.biz is an investment firm which claims to generate revenue from blockchain developments. Their website features the name of some of the popular exchanges like Binance, Bitfinex but that is only an attempt these crooks have made to appear reputable in front of the potential clients.
When we conducted a full investigation about this platform, the facts we found were very disturbing. Read our full comprehensive review which will expose all the things this firm does not want you to know.
License and Support Details
CryptoMain.biz offers investment advice which requires them to be licensed by regulatory authorities depending upon where they are located which in this case is FCA.
CryptoMain.biz represents an ICO which takes money from a group of investors for trading various assets and financial instruments, the investors are promised certain amount of returns depending upon the contract selected by them earlier.
When we checked the documents provided by them, we couldn’t find any licenses giving them the authorization to raise money. We have confirmed through FCA this firm has never been licensed thereby operating illegally.
There are a few company registration details put up by them but do not be fooled by that. They will face criminal prosecution if they get caught. Here are the contact details of this firm:
Address – 315 Chiswick High Road, Chiswick, London, United Kingdom.
Email – [email protected]
How does CryptoMain.biz Work?
Apart from the fact that they employ alleged investment experts, this service has failed to provide any explanation. They claim to be trading profitable setups in cryptocurrencies but does not name them.
There are many patterns used by day traders like head and shoulders, cup and handle but each one has its drawbacks and certainly does not necessarily be profitable if one is not following proper money management. They do not provide a demo accounts or any other form of free trial, so how can they expect investors to trust them without seeing any first hand proof?
This platform boasts of generating returns ranging from 3% to 5% per day. Unless you are a newbie investor you can easily see through these lies. The numbers might seem small at first but do the math, it adds to 150% ROI monthly which would make you the most profitable investor only if it was true.
The returns are obviously fabricated lies. Here are the complete details of the packages offered by this fake platform:
Returns – 3% Daily
Min. Deposit – $10
Returns – 3.5% Daily
Min. Deposit – $500
Returns – 4% Daily
Min. Deposit – $750
Returns – 4.5% Daily
Min. Deposit – $1,500
Returns – 5% Daily
Min. Deposit – $3,000
If there is one thing ponzi schemes are dependent upon, it is marketing as they are in constant need of finding new entrants to their scheme. These fraudsters offer the biggest pyramid plan we have ever seen thereby motivating individuals to promote their platform as much as they can.
The affiliates are paid some percentage of the deposits made by their referrals, the exact commission rate depends upon the volume they bring in and the affiliates are not required to be an active participant of the scheme.
Thanks to the courtesy of alexa.com we know that this website ranks 94,107 in Russia and has a global rank of 1,090,387. The majority of the users coming to this website are from Russia, Czech Republic, Ukraine, Kazakhstan and Belarus.
According to whois.com this domain was registered on 05/07/2018 and it expires on 05/07/2019. There are no registrant information available.
Deposit and Withdrawals
The minimum deposit is $10 and the minimum payout threshold is $0.10 but it may vary depending upon the withdrawal method. The e-wallets and payment methods supported by this platform are Visa, Payza, Ripple, Ethereum, Bitcoin, Payeer, PerfectMoney and advcash.
We don’t know if there are any transaction fees associated with deposits and withdrawals. The time taken for processing withdrawals is not mentioned.
Is CryptoMain.biz a Scam?
The red flags found across their platform are all alarming and is surely not the one you should would want to associate yourself with. Assuming their telltale strategy does work why are they not showing any trading history to prove their claims? It is mainly because they are not involved with trading in the first place.
These crooks livelihood depends entirely on the marketing part which we have exposed above. Once they have met their targets or unable to stay profitable, their whole scheme will crumble to pieces taking all the investors money along with them.
CryptoMain.biz Review Conclusion
CryptoMain.biz is an over inflated ponzi scam. Return of 5% per day is something which is unheard of in the financial sector, it it was truly achievable then by compounding anyone could become billionaire but doesn’t that sound too good to be true?
Cryptocurrency boom caught everyone’s attention and even today many people does not know exactly how blockchain works, sadly these fraudsters are taking advantage of it and looting investors.
Consistently profiting from the markets is hard to achieve but not impossible, if anyone especially over the internet is promising you otherwise then never trust them with your money.
Have you been scammed by CryptoMain.biz? Share your feedback by commenting below.
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