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Novachain.cc Review: Is Nova Chain a Scam?

Novachain.cc Review: Is Nova Chain a Scam?

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Novachain.cc hosts a trading bot known as T-rex Bot. This bot is allegedly making profits 24/7 while trading the Crypto currency market using abritrage trading. In addition to this, T-rex bot is also profitable because it can generate money when investors hold Nova token. The site claims that soon there will be public interest for this product and the price of tokens will automatically rise. This is a false assumption because there are many different kinds of tokens that have been launched in the past where the only determinant of price is the robot’s performance. These tokens have never increased in their prices and to some extent, 99% of those tokens have turned into scams. They also have something called ETH DAPPS.

This is the description which they have attributed to the so called ETH DAPPS. ”NOVABOX is a secure and open sourced decentralized service that provides utility for our token while creating an additional income source for token holders.”

The fourth stream of income that is tied to this robot is the signals which it can generate for their users. The site claims that traders who want to handle things on their own can use the signals generated by T-rex bot to trade the Crypto currency markets. On the other hand, those who would like to automate the bot and collect profits at the end of the day should just let the bot trade on their behalf. And there is also the fifth method for making money from this platform. According to the promotional material on the site, Nova Chain intends to share 90% of the trading fees collected on the platform with users who hold at least 15K Nova Chain tokens. Master nodes are paid in ETH and depend on the exchange volume.

This is a promotional statement aimed at encouraging investors to spend more on Nova chain tokens but the question is why an investor would have the courage to spend more on these tokens. The price of one Nova Chain token is $0.16, which means that investors who qualify for a share of the trading fees must invest at least $2400. This is definitely a risky proposition seeing that this platform is new and the investment venture has not proved to be stable yet. In fact, it is not even clear whether T Rex bot is a scam or not. The website claims that the site can produce verified trading results for this robot. However, what we can see is a list of recent trades that were allegedly taken by this robot. This information has not been verified by a third party because we are just being shown a table and random figures which are scrollable — something that looks like a widget.

NovaChain

We want to believe that investors who can folk out at least $2000 to invest in this project are not foolish. But in case you wanted to find out more because you were doubting whether this platform is genuine, this review will answer your question comprehensively. Otherwise, we have some of our top recommendations on this page. If you’re in need of a good Crypto currency bot that has verified trading results, these trading resources can be of great help to you.

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Nova Chain Review

The T-rex bot is introduced as a state of the art AI robot. This bot is supposed to generate daily passive income. In the last 24 hours as at the time of writing this review, they were stating that the bot had generated a return of 0.50%, which is quite a reasonable figure. They also claim that this trading solution is so easy to make money with as even a child can be able to comfortably make money using this program.

The main way of generating returns is through high frequency trading, which is a method that banks love to use due to its highly efficient nature. But at the same time, scammers too love to sell fake trading bots where they claim that their bots are bank grade high frequency trading bots that beat the markets at all the time. There is really no way to find out whether someone is selling the real thing or a fake bot for that matter. So to be on the safer side, experience has taught us that we should always demand to see verified trading results to prove that the bot makes money and at the same time is consistent.

High frequency trading is a concept where a bot is engaged in analyzing large volumes of data and when it detects disparity in the price of the various coins, it immediately executes the trade and thus it can make a profit. However, there can be much more to this trading method than you can ever imagine. This website does not disclose further details regarding their high frequency trading and so we were hoping to lay our eyes on the real performance which can be documented by a platform like myfxbook and showed to us for purposes of verifying the efficiency and reliability of the bot which they are selling.

Should you use Nova Chain bot?

In as much as the idea behind this program sounds convincing and even the vendor is claiming that they can show us the trading results of this robot, the actual truth is that what they are calling results is very disappointing. We would love to see that this vendor has properly documented their work and that it can be verified by a third party. We do not want to see widgets that have been edited by the owner of the website itself. At the moment, we are afraid that the bot has not been proved to be effective and we cannot trust them for claiming that the bot is efficient. So you cannot have the full trust you’d need when making an investment decision with this bot.

Our best advice for you

We are not encouraging the use of Nova Chain at the moment. If you want to trade profitably, explore these trading bots. 

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