With the popularity of Crypto currencies surging by the day, scams become a common place and today we are going to answer questions on one particular Crypto currency project called Xcrypto. Xcrypto is an algorithmic trading platform for Bitcoin and other cryptocurrencies. They want investors and traders alike to believe that the goal is to provide traders with cloud-based automated trading solutions powered by cutting-edge technology. This way, we cannot miss out on any trading opportunity.
The site has also integrated an exchange within its ecosystem (XCC Exchange) which is supposed to begin operations in a few just one month from now. The platform is supposed to provide Crypto trading opportunities using a feature known as Cryptocurrency Trading – Strategy Designer. The strategy designer has more than 130+ indicators and candle patterns to choose from. They want traders to believe that Xcrypto’s technical analysis can provide the best buy and sell signals from strategy.
Popular indicators and candle patterns which they claim to use are: RSI, EMA, Parabolic Sar, CCI, Hammer, Hanged Man, but they also have many more. In addition to this, the site provides arbitrage trading opportunities and are claiming that they don’t charge any fees for this.
”Cryptocurrency arbitrage – As price differential for cryptocurrencies can be quite large across exchanges, there is ample opportunity to make arbitrage trading profits in the digital asset space. Even the most liquid crypto asset bitcoin trades at different price levels on different exchanges.”
Having said this, we want to go straight to our opinion which is based on observations which we have made about these Crypto trading platforms. The main question that traders and investors are asking is whether Xcrypto.biz is Scam or Legit? The answer is that this is a scam.
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We will be going to show you the characteristics this site have similar to scam sites. We believe that this site might have paid to its members. It is because they are working on a Ponzi Scheme in which if they have to survive for long they have to pay their initial members. It helps them in two ways: first, the member bring more members and second, members payment proof work as a seal of trust for them. In plain simple words, we do not recommend Xcrypto.biz site. If you want to make money, find good products on this page.
You need to identify those tale tell signs to be sure that this is a real scam. Though this platform might appear legit to a newbie, the truth is that it is just a wish washy site built with the intention of scamming eager investors. This can be seen from the unrealistic returns. This is a type of method of scamming unsuspecting investors. Most of this quick-profit investment schemes are High yield investment program.
What is a High Yield Investment program? It is a just a type of ponzi scheme. Initial investors only get paid when new people sign up and invest, what this means is that you are under pressure to bring in new investors so that you will get paid. As soon as the amount of new investor drops, the owners do away with the money invested, and the site is closed down since there is no longer enough money to pay initial investors. Those that benefit most times are the first investors. The system is not sustainable because it will surely shut down abruptly leaving your money trapped in the hands of the scammers that set it up initially.
Most of them provide a registration certificate and so-called evidence of payments. Don’t be deceived, anybody could get a sham address and certificate most especially from the Company House in UK which most of them use, for just £5. These companies claiming to be located in the UK or similar countries are not in actual sense located there.
This site is using a Ponzi Scheme which is an illegal scheme. Ponzi scheme is the one in which a company pays to its members (said interest) from the investment made by the new member.
This way a chain gets started and saturation points come after which the company had a big debt over it (taken from the people). The company stops paying the member and then soon get shut down. Ponzi scheme is not a new method to cheat people. The usage of it in bitcoins shows the evolution of scammers.
Secondly, Xcrypto has no real business. On site, they have written that “Xcrypto is an algorithmic trading platform for Bitcoin and other cryptocurrencies.”
They have also offered $15 as a signup bonus. Whenever any site offers sign-up bonus never trust it for the first instance, as almost every one of them turned to be a scam. This site doesn’t have any real algorithm and they are purely working on the ponzi scheme.
We all want to make money, therefore, we believe in someone whenever they use heavy words like cloud mining, algorithm, etc. Don’t fall for this, words have always been the weapon of such people. They know how to lure people by offering them something they want. For instance, Free mining or high ROI (Return on Investment) in a short period.
This site has not provided any information about its owner or maker. Transparency is zero on this site. It simply means they are hiding their identity because they are not a genuine site. Any site dealing directly or indirectly with money they must provide the right information about their owner. Transparency is imperative to know any site is committed to their work or not.
Xcrypto is definitely a scam that is intended to enrich the owner while hurting the pockets of the investor. There is no legit business model on the platform. They intend to do an exit scam once the operation has made enough dirty money. You can invest with these genuine trading tools if you want to make money.
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