Glow Coins (GlowCoins.com) is a firm which supposedly helps people to earn passive income through trading stocks. This platform does not reveal the details of its owners or the so called fund managers but there is a strong reason for that which we will discuss later in the review.
They promise returns of upto 300% every 3 hours and they state that the revenue is derived from trading stocks, if you happen to have the slightest clue about how economic works in general then you will never believe their ridiculous profit claims.
To learn about the way they operate and the reasons as to why you should never indulge with them for any reason, continue reading our full review.
Company and Support
All the firms which presents the retail class of investors with instruments which inherits a degree of risk have to be authorized and there are no exceptions to this rule except for a few countries. Glow Coins represents an ICO wherein the primary focus is on trading stocks.
The funding required to carry the activities of the firm is raised from the investors and in return they are entitled to some returns depending upon the investment plan chosen by them and their initial capital. Since this firm does not reveal anything about their whereabouts just to be on the safer side we checked with the FCA and FTC but could not find any clue about them.
Considering the way their platform is setup we strongly believe that it is an illegal ponzi scheme. While going through their platform we found the email address of their support team which by the way is the only means of reaching them.
Email – [email protected]
How does Glow Coins Work?
On their website they stress about the volatility aspect of the Bitcoin and other financial instruments which can be used to create a steady income. They are said to be involved in trading cryptocurrency and stocks but any supporting evidence or accomplishment details are not featured by them.
First of all the fund managers are required to present their history to the investors but in this case their names are also unknown. Moving on to the strategy part stock market and Bitcoin are completely different breed of markets and they both require different approaches but these so called traders have skipped this part completely.
We do not know which trading methods they follow and what kind of returns are they trying to shoot for. As there is no documented portfolio history how can we know or even believe that they are profitable?
One look was enough for us to recognize what these fraudsters are trying to do with their platform. They advertise returns which starts at 120% after 1 day and goes up to 300% after 3 hours.
For quick and high returns the investors are pushed toward increasing their bank roll but do not fall into their trap, they are just trying to take as much as they can by inducing a sense of quick and seemingly easy money. Does these type of plans seem normal to you?
Returns – 120%
Duration – 24 Hours
Min. Deposit – $10
Returns – 140%
Duration – 2 Days
Min. Deposit – $50
Returns – 160%
Duration – 3 Days
Min. Deposit – $500
Returns – 210%
Duration – 2 Days
Min. Deposit – $1000
Returns – 300%
Duration – 3 Hours
Min. Deposit – $2000
The only way for these kind of platforms to stay in business and flourish for long is by focusing on their marketing department. If more people join their scheme they will end up making substantial revenue. To enable marketing in a manner which is light on their wallets these crooks have featured an affiliate program.
Basically anyone who has a platform which gets traffic frequently can choose to promote them and get paid for their time and efforts. A percentage of deposits made by all the referrals collectively will be credited to the promoter’s account. Affiliates are not even required to hold a active account which means they are not exposed to any risk at all.
Thanks to whois.com and alexa.com we came to know the following details about this website.
Domain – GlowCoins.com
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Registered on – 27/04/2018
Expires on – 27/04/2019
Alexa Traffic Rank – 3,962,639
Can I Trust Glow Coins?
No, You Shouldn’t.
This platform does not have a long history and there are no feedback from the users yet. The amount of profits they aim to earn their investors are impossible to sustain. No names of their faculty are revealed and best of all this firm resembles a ponzi scheme in literally every way.
They most probably are processing some withdrawals every now and then so that the users keep coming back to them and refer more people but the road is about to get bumpy for all the participants as they will be gone very quickly.
Glow Coins Review Conclusion
Glow Coins might seem like a dream come true for those of you who are just starting out their investing journey but know that all that glitters is not gold. Trading is a serious business and unless a person devotes enough time to learn the skills, one might lose their entire trading capital.
Never ever look for shortcuts to make your way to the top when it comes to trading, if there was a firm which would actually do invest on our behalf then we would all be rich.