GrabCrypto.biz is a cryptocurrency investment firm which advertises returns of 1400% for every 15 days. According to their narration they are supposedly able to achieve returns like these because of a strategically diversified portfolios.
They claim to be involved in mining as well. If you are a crypto enthusiast then you will certainly know that the returns featured by them are all fake and are impossible to achieve through mining. The lies does not stop there, there are ten of misleading information put up by them intentionally. Continue reading our full review to know why you should never invest your money with this firm.
License and Support details
GrabCrypto.biz represents an ICO, they raise money necessary for mining and trading from a pool of investors and in return they provide the investors with certain amount of money depending upon the pact accepted by both the parties.
Firm which are involved with providing these kind of investment opportunities are required to hold proper licenses. When we did a thorough background test of this firm, we found out that they do not have any certificates confirming licenses they should hold lawfully. We have confirmed through FCA this firms activities are not not overseen by them which means they are violators of law.
On this platform, these crooks have put up details of the registration certificate but rest assured it is merely a trick used by scams to seen reliable, they are operating illegally.
Here are the contact details put up by these fraudsters:
Address – 10, Rockswell House Valley Hill, Loughton, IG10 3AY
Phone – + 44 16329 60738
Email – [email protected]
How does GrabCrypto.biz work?
There are very few details or glimpse provided by this firm about how they actually work. They are set to be involved in Bitcoin mining and trading but there are no proof to backup any claims. The investors are not briefed about how the funds are allocated and utilized. We are not aware of the names of the mining pools, they are alleged involved with and they have also not displayed their mining capabilities.
They haven’t provided any information about trading either. So, basically they want the investors to send their funds without knowing how they will be dealt with.
Maintaining mining rigs or investing in cloud mining is not so profitable these days. Considering the net income unless you start with huge amount of capital, the payout might seem like pittance. The mining contracts this firms features, promises you returns of up to 1400% within 15 days which is ridiculous. 14 times your investment account is unattainable consistently in any business.
Here are the complete details of the mining plans
Plan 1 – 20% Hourly for 12 hours
Plan 2 – 300% after 4 days
Plan 3 – 1400% after 15 days
This service encourages the individuals who has access to web traffic to promote there platform. Any person who refers investors to this firm gets paid 5% of the total revenue earned from this platform.
Even if the affiliates can’t make sales, they get payments based on the traffic they redirected to this website and are provided with few marketing tools to effectively manage their campaigns. Not to mention the affiliates are not needed to have a active deposit in order to get their commissions.
Deposit and Withdrawal
The minimum spend is $ 1 and the minimum payout threshold is $ 0.10. This platform supports E wallets like Bitcoin, Perfect Money, Payeer and adv cash. The transactions done to and fro from this platform are said to be free. They state that the withdrawals are processed immediately.
A search on alexa.com will reveal that this website ranks 56,780 in Pakistan and as a global rank of 2,403,950. The countries where they have gained noticeable traction are Pakistan, Bangladesh, Uganda, Vietnam and Indonesia. According to whois.com this domain was registered on 19/07/2018 and expires on 19/07/2019.
Is GrabCrypto.biz a Scam?
A big yes,
The characteristics presented by this firm all match perfectly to that of a ponzi scheme. These kind of schemes usually pay few clients every once in a while so that they get good ratings on many HYIP monitoring sites, but at the end of the day they can’t operate forever because their model is unsustainable. Always remember that this firm has nothing to do with mining or cryptocurrency in general and their profession is a swindle.
GrabCrypto.biz Review Conclusion
This firm is not a trust worthy service by any means. They do not even follow basic guidelines like KYC and there is no payment proof to prove that they actually pay. There are few testimonies online wherein they claim to have been paid but they all have referral links along with them, so you cannot trust them.
Further more if you want to check this service out, despite our warning, know that once you have sent the money to them, you cannot hold anyone accountable as they operate anonymously.