Bitcoin Ponzi Scheme
CoinOptions, as you would have guessed by the name is a cryptocurrency trader. This brand has been serving the forex market for a while, and its time we review it.
The company isn’t very transparent with its details, to begin with. This is not a good start, but we hope things will improve down the road.
About CoinOptions Trade
CoinOptions is a Binary Options trader. It offers some exquisite way for its members to make money. The company is based in St. Vincent. It deals in several forex options including CFDs. The company only trades in Bitcoin cryptocurrency, and this makes this broker stand out.
What it Offers?
The company promises a high return on investment. It claims the monthly returns can reach up to 50% of what you invested. For instance, if your invest $1,000, you will get $500 back at the end of the month.
The company mainly offers cryptocurrency investment with advanced analytics. It offers five different accounts, and the minimum deposit is $100. CoinOptions make its money off bitcoin mining.
- Ponzi Scheme
One thing we know for sure is that Bitcoins didn’t exist during Charlie Ponzi’s lifetime, blockchain was invented days later. But, we want to commend this company for combining both of these. Yes, this is a first for us, a Blockchain Ponzi Scheme.
Kudos to the creative heads, but the fact remains this is a fraud company, and you won’t see your investment back anytime ever. The company offers insanely high ROI in a short time. We couldn’t find any proof of payment or any testimonials if that matters. This company has been operating for a few years now, so yes, we are skeptical.
- Illegal Service
The company claims its based out of the United Kingdom and the United States. We found no proof. Even worse, we couldn’t traceback any financial authority that regulates this broker. We went on to search the databases of ASIC, FCA, CySec, and others but found nothing.
Therefore, we are hard-pressed to conclude its an illegal service. The company’s headquarters is in St. Vincent. In case you didn’t know, most of the scammers in forex market originate from such companies. So be careful in future.
This is a fake broker; it serves nothing but lies to the consumer. It is a Ponzi scheme; the only selling point is it deals in bitcoins. That’s how this brand lures everyone. Our advice stay away from this broker at all costs.