The recent boom in Cryptocurrencies has inevitably contributed to the rise of Cryptocurrency-related scams on the internet. It almost feels like for every 1 legit altcoin mining or trading business, 5 or 6 will always be fake. We need to debunk certain myths about Cryptocurrency investing so that we can put an end to this madness. Crypto All Day is the focus of this review today.
In the case of Crypto All Day, we do not have a mining or a ponzi scheme at hand. What we have is an online investment program whose appearance resembles that of a legit broker even when that is not the case.
However, when we conducted further research by peeling layers of the mask to expose the inside of this project, we began to uncover a number of deceptions which Crypto All Day has employed to enrich the pockets of the owner and not the innocent investor.
So what we have here is a phony investment brokerage whose intention is to make you lose money. We highly suspect that anybody who does business with Crypto All Day will be risking their money for nothing.
But just in case you don’t believe us, you should read this review to the end because we will be discussing facts which will make you see why we are against this platform.
Note: Pick IQ Option from this brokerage list.
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We have read the ”About us” page of the CryptoAllDay.com website. We must say that this section of the site is doing a rather poor job at describing what this platform does.
What we have learned so far is that Crypto All Day is claiming that they are a safe personal internet wallet where Bitcoin holders are encouraged to deposit their funds so that they can be stored safely on the site.
The amount of Bitcoins that you will end up depositing will dictate which plan you get enrolled in as well as which trading features you will access.
Therefore, it’s like saying that the higher the amount of Bitcoins deposited, the higher the likelihood that you will ”unlock more features”.
Basically, this platform functions as an online wallet where investors are encouraged to deposit their Bitcoins. Once that is done, funds can be pooled with those of other investors for purposes of investing them in a number of high yield investment programs.
Crypto All day claims that they have employed a number of financial experts who do this job on your behalf. However, no trading assets have been mentioned yet. But they also claim that they will use hedging approaches and also insurance to ensure that your deposits are always safe in their hands.
These folks are claiming that they offer hedging insurance, yet when we conduct further research about them, we realize that they are not even regulated by any entity.
What this means is that Crypto All Day is not a safe place to put your money in. How could it be safe when no regulatory agency is overseeing their activities? It’s impossible and quite misleading, right?
Nevertheless, if you wish to ignore these red flags by proceeding to explore this too good to be true offer, you will be entitled to choosing between 4 plans (according to what you’re willing to deposit).These are as follows:
(a) Light Trading account
This account requires a minimum deposit of $250 and is supposed to be suitable for those who want to keep their risks low. Crypto All Day claims that if you sign up for this account, you will be entitled to a welcome bonus of 20% the amount deposited. Subsequent deposits will also attract a bonus of 10% every time you make a deposit.
You should be careful of deposit bonuses because they tend to lock your withdrawals until a certain trading volume can be achieved. This is a way of encouraging you to abandon the funds on the site for the benefit of the site admin.
(b) Standard trading account
This account is allegedly designed for those who are new to this business and want to start a trading career in Cryptocurrencies. If you choose this service, they claim that you will be able to access all basic features of the website. These include daily analysis, market news and so on.
As usual, this account will attract a welcome bonus of 30%. Subsequent deposits will always attract a deposit bonus of 20%.
Furthermore, these guys claim that you will be given special access to their trade analysts through live chat feature. The site also claims that you will be entitled to up to 3 trading tips each day.
(c)Premium Trading account
This plan is for those who want to trade based on skills that they have already acquired. We wonder how conflicting this can be because this site initially claimed that you are depositing Bitcoins so that they can trade on your behalf. But now they are suggesting that all trading activities will be delegated to you.
This account is supposed to give all the benefits of the first two accounts while at the same time insuring your trades once a month.
You will also have access to personal coaching with their so-called trading experts.
(d)VIP super account
Now, this is nothing but a combination of standard and premium account features. The only outstanding feature here would be the fat bonus which is 100%.
So far, these features have made Crypto All Day sound like a genuine brokerage. We are afraid that this may not be the case.
You have to take note that if deposit bonus is accepted, there is no way you will ever withdraw your funds sooner. Even if you file for withdrawals, they will remind you of their repressive terms and conditions which say that you should trade a minimum volume equivalent to 40x the accepted bonus in order to qualify for withdrawal.
While Crypto All Day brokerage is claiming to be an entity of a company known as Petrasol Ltd, we are not able to establish the existence of this company anywhere in the Republic of Seychelles business registers. So the issue of whether or not it is a verified business should not even arise.
While they claim that they are offering hedging insurance, the fact of the matter remains that this platform’s activities aren’t regulated by any body. That means it’s illegal for this brokerage platform to conduct business.
The other concern that should probably make you worried is the anonymous nature of this site. The only contact information we can see on the site is the telephone and email contacts.
The site has deliberately opted not to disclose information about the owner or the creators. In addition to this, the site is claiming that they launched operations in 2015 when who.is data reveals that they actually launched the site in August 2017. So this clearly proves that Crypto All Day is a deceptive website.
In short, these guys are not transparent with their operation. Not only are they operating an illegal brokerage business, but they are also blatantly lying that they have financial experts who are licensed to do this job. They are even lying of their date of registration. Avoid Crypto All Day. We want you to select IQ Option in this list because they’ve proved to be professional and excelling in this category.
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