Hexabot is a crypto currency auto trader, which fancies itself in the vein of well-known, legitimate auto traders such as Gunbot. While the whole premise on which the Hexabot pitch is built, is indeed feasible and reasonable, there are a number of problems which just make us go “hm…”
What exactly is Hexabot?
Hexabot is a crypto currency auto trader, which operates off the cloud, meaning that it is hosted on remote servers and users don’t actually have to download and install it. That’s not how established auto traders work, but it is feasible and indeed possible, so that’s not really a red flag. Hexabot registration literally takes a few seconds and the user is ready to trade as soon as a Bitcoin deposit is made into the specified “personal” wallet address, provided under the “wallet” tab of the Hexabot user interface.
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There are three available strategy modules: the scalping one promises returns of 2.0%-2.3% daily. The Technical Trading one ups the stakes to 7.1%-8.2% every three days. The Swing Trading one promises 22.1%-24.1% returns weekly. Every one of these modules can be activated for free. That’s pretty much all there is to activating Hexabot – it is indeed a LOT simpler than setting up something like Gunbot, where scores of rather technical settings have to be navigated before any actual trading takes place.
In addition to the actual auto trader, Hexabot offers a Bitcoin faucet too, through which users can simply claim minute amounts of BTC, absolutely free and without ads being shoved into their faces.
Other promises of Hexabot include instant withdrawals (processed and sent to users’ wallets immediately), hourly interest, a welcome bonus of sorts, of 0.0001 BTC and a referral scheme, which hands a 5% reward to all users who bring someone else into the fold. A compounding feature encourages existing users not to withdraw their funds, but to re-invest them to grab still more profits.
The person behind the Hexabot operation is a developer called Peter Shepherd, who is apparently very amiable and who interacts with the community through live chat.
Can I Trust Hexabot?
We are very much on the fence about this one. As said, the theoretical side of the business model used here is indeed feasible and it has been employed by legitimate operators. Still, the whole setup raises too many red flags for comfort. On our part, we’ll say for now that we would not trust it, though we shall reserve definitive judgment, pending more feedback from actual, verifiable users.
Red Flags and Question Marks
Unfortunately, such items are very common on the Hexabot “menu.” As a matter of fact, everywhere one looks, one or two such red flags jump out.
The website was registered on 9/8/2017. It is very young, and it just hasn’t been around for long enough to generate relevant user feedback.
The Peter Shepherd identity may be a fake one. We’re not saying it is, but it is a very common name and there just does not seem to be any Bitcoin-related record of it online.
While for the most part, the grammatical quality of the website copy is proper, there are spots here and there, which were definitely not written by a native speaker. Some of these errors are quite blatant. This may not mean much at all, but our overall experience is that beyond a typo or two, proper English is never a problem with legit operators.
The business model – despite its feasibility – has some major holes in it. First off, the site says the bot NEVER loses. Legitimate auto traders never make such claims, as they are fully aware that their users are never more than a bad setting away from racking up losses. Secondly: artificial intelligence is brought into the equation – this one never bodes well.
There’s an utter lack of transparency regarding the inner workings of the software, and there are no proper settings users can tinker with. We can select the strategy to use, but there are finer settings which are absolutely necessary for a proper auto trader, and we don’t really know what kind of mechanisms the strategies employ.
The promises made by every one of the available strategies are simply too good to be true. The return percentages are out of this world.
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Why is everything free? The creators of proper auto traders charge for the licenses they hand out, and they charge quite a bit too. A lot of work goes into proper auto traders and letting everyone access them for free is no way to monetize them.
The 5% affiliate setup is a tool often used by Ponzi schemers to effectively turn their victims into promotional engines, thus securing the flow of fresh funds through their pyramids. The compounding feature fits the Ponzi theory to T as well.
Last, but certainly not least, not all is right with the user testimonials presented at the bottom of the Hexabot homepage either, in the sense that they seem fake.
Take Amber McNulty from Melbourne, Australia for instance. Her picture is the same as the YouTube channel picture of a certain Brianne Fick, who has 20 followers there. Was it lifted from there, or did the YouTuber steal it from this brand new auto-trading site?
There are no proper complaints about Hexabot out there yet, just affiliate pushers and a few calls for caution from neutral people.
We have recently received payment proof of some minor BTC amounts, from a Hexabot user. For what it’s worth, we are putting this out there. Still, we continue to advise caution with this operation, bearing in mind that every Ponzi scheme pays its clients/victims in the beginning.
I invested a small amount and after 2 days I cannot log into my account. I clicked the forgot password also, and no progress. I e-mailed them and the server rejected the mail address as invalid. I sent a message from their Contact page with zero replies. I then realized that I have been scammed. I also then tried to use my login details again to register it again. Then the system stated that the e-mail is already in use. So on registering it recognises the email address, but on login it states its invalid.
At the time of writing this review (November 1, 2017), there was no data available regarding Hexabot’s popularity on either SimilarWeb. According to Alexa.com, Hexabot.top’s global rank was 347,332, indicating the site is getting some visitors, especially from the United States, Germany, Russia, India and Sweden.
Hexabot Review Conclusion
While the idea behind Hexabot is feasible, as you can see above, the setup generates way too many questions and red flags. This may indeed be a Ponzi scheme. For the time being, we shall refrain from calling it that though. As some relevant user feedback trickles in, we will all find ourselves in a better position to cast judgment. For the time being, we shall not invest our BTCs with this site though.
Verdict: HexaBot is a SCAM!
Blacklisted site: HexaBot.top
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