Is Coin Active an amateur exchange fraud? We think so. This site accepts a whole range of Crypto currencies while claiming that traders will earn 6% daily as a result of trading these coins on their platform. If you think about 6% per day as your profit, it would mean that you are making 180% a day assuming you are trading every day including weekends. They also have an affiliate program where users are supposed to be compensated 15-3-2% in commission. The domain where Coin Active website is hosted at was registered anonymously in November 2017. It is not clear why this platform is being operated and at the same time no company is being associated with them.
The people who run this website are 100% anonymous, plus there is no grain of truth or evidence showing that traders are making money on the platform. 6% is indeed a very unrealistic return as far as trading is concerned. Even if we are trading Crypto currencies (because they are volatile and big profits can happen in no time), there is no saying that we can generate 6% daily returns without suffering a big draw down later on. This would obviously reduce our profits. This is the truth that Coin Active does not want to let its investors know.
The site does not appear to have been updated since its launch date. This is because in another section of the site, they claim that it has been online for 4 days when it has been around since 2017. It simply means that whoever owns this website has never bothered to come back and check their site once again. It simply means that he is a potential scammer who plans to make money on auto pilot by doing nothing at all. It is an element of laziness but before we complete this review, we will give you all the reasons and evidence why we think this is a scam. As a matter of fact, this is a typical Crypto currency scam based on the presentation and the false idea that people can make money (6%) a day by trading Crypto currencies on their platform.
If you need to work with a good brokerage, we implore you to check out this link where we highlight some of the best brokers who are offering Crypto currencies for trading. They are authorized to offer these products and to also operate brokerage business. But as for Coin Active, nothing is certain. This puts you at greater risk of losing your funds assuming you invested a lot of money.
Essentially Coin Active is acting like a Crypto currency exchange or a broker. This is something they don’t seem to be willing to admit but if you see the way the site is structured and the product which they are offering, you will clearly see that this site is offering services that are similar to those of a Crypto currency brokerage. The site claims that we are trading with our exchange opponents to earn 6% a day. The fact of the matter is that earning money easily is not a realistic idea. It’s a fallacy.
On the homepage of this website, there are a few steps to getting started as well as brief explanation of what to expect. They are showing us a widget that depicts the volume of Crypto currency transactions or orders coming into the exchange at any given time. We suspect that this is just a widget which the site is using to persuade naive individuals that real trading is taking place on this platform.
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The process to getting started is so easy. You sign up, deposit and start trading with the hope of getting 6% out of your capital at the end of the day. The question is where exactly is this money coming from. Their about us page, however, describes the website Coin Active as a place to play games and interact with other participants. The website also claims that they are using a reliable script that is security tight and cannot be hacked. In addition to this, they are promising top notch support.
The script which they claim to use was allegedly programmed by the company’s IT experts. You should remember that Coin Active does not have a company that backs its operation. In fact, if there is a company involved, it must be a very secret company indeed. But as far as our research is concerned, this company or the people in charge of Coin Active have zero footprints on the internet. That should be treated as a serious red flag.
We have a feeling that this entity is offering nothing. We also suspect that this is your typical ponzi scheme looking to make a quick buck on the ignorant internet user. They might return profits in the first few trades. However, they will end up scamming you the day you shall deposit a larger amount.
On the other hand, this could be an outright scam and an attempt to commit fraud. They claim that Coin Active is a gaming platform when it is obvious that they are operating a brokerage business. In that case, they need a license from the financial regulator where the website is hosted or is based at. Since they do not have a company and a company is one of the requirements for getting a license, we believe that this operation will flop and run away with their investors money.
Aesthetically, it does not look like a respectable exchange. Also, it is not clear where the 6% daily profit is coming from. Are they making payouts based on the monies which other participants have lost? It seems but if this is not the case, then we do not know where else they get the money. All in all, it is a scam.
Coin Active is a scam and that’s the most important thing to know. Don’t waste your time on a scam. Just invest in the right trading products to make money.
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