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Altracoin Review: Altracoin.co Bitcoin Mining Scam

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Altracoin Review: Altracoin.co Bitcoin Mining Scam

Altracoin (Altracoin.co) is another Bitcoin Mining and Crypto investment scam out to rip off digital currency enthusiasts. The platform claims to be operated by industrial professionals who give no actual names. Apart from having a well-designed website, the services provided are lame at best. Complaints have been posted on most Crypto mining boards regarding the withdrawal problems faced by members. Read this genuine and honest ALTRACOIN Review for more details.

Altracoin Review

About Altracoin

The website has claimed that the people behind this platform are also responsible for BitSunset Limited. A closer look at the company register in the UK reveals no such company exists. These are scam artists who want to fool unsuspecting European investors. The problem with Altracoin is using double standards to offer trading services. Bitcoin mining is indeed a lucrative option but you have to use approved and tested Bitcoin mining companies. With reliable and transparent Crypto mining companies, investors are guaranteed of having their own coins.

Altracoin is quiet when it comes to the actual people behind their platform. And this is one of the many reasons why we flag the website as a scam. Scam artists are known to create compelling websites and offer non-existent services. The platform is one of them as there is no indication of coins being mined by the platform. Stay away from such a platform as members are up in arms after having their withdrawal requests shut down. These scam artists just want investors to sign up and deposit funds without ever having to mine Cryptos.

Affiliate Programs

They claim to have a great affiliate program on their page. The platform claims to have attractive business terms to customers all around the world. Each participant is promised an income of 10 percent and another additional 5 percent on the second level. Stay away from their affiliate programs as none of the members has been credited with any commission. These scam artists want their trap to include investors signing up other victims. The 124 percent profit growth on their affiliate program is another roost to have investors sign up.

Company Registration Link

We checked their FAQ page and this is where we noticed the company is non-existent. The second question talks about how the platform is a UK registered company. These scam artists have claimed to have a link to their registration certificate. Once you click on that link, the page directs you to the FAQ page. There is no registration link which means these are professional scam artists. The company registration number is random and has no actual sense in the trading world.

Domain Details

Altracoin is a website which was recently created according to the trusted domain website betterwhois.com. Their website Altracoin.co was created on 5th June 2019. And this makes the platform less than a year old. Claims of being in the industry for more than thirty years are made up. Scam artists will try and sell their online reputation by posting fake experience years. And this is another concrete reason why you should stay away from this illegitimate platform. These are scam artists with nothing else better to do than steal from Crypto enthusiasts.

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License and Registration of Altracoin

Altracoin FCA Register

Altracoin is claiming to be based in the UK. Such a platform should be licensed and registered by the Financial Conduct Authority. The FCA does not have a platform licensed under the name BitSunset. And this is solid proof Altracoin IS NOT LICENSED OR REGISTERED to offer any mining or trading activities. These are probably offshore brokers who are targeting European Crypto enthusiasts. And these are the reasons why you should stay away as funds are never safe with an unlicensed entity.

To confirm whether Altracoin is registered in other jurisdictions, we checked with reputable regulatory bodies. They included BaFIN, CNMV, CONSOB, CySEC, FINMA, NFA, and SEC. None of these regulatory bodies has ever heard of a platform with the name BitSunset. With the regulatory bodies already on high alert, the platform will soon be blacklisted. Security of funds is far from being guaranteed by a platform which fails to have a valid operating license.

Limitations of Altracoin

Account types/ Investment Packages

Altracoin is offering traders with four investment packages to choose from. The investment packages come with a guaranteed profit margin. To be clear, there is no expert or professional that guarantees a profit margin. Any platform that guarantees a fixed profit margin is a scam. The market conditions don’t allow for such situations.

Altracoin Investment Packages

Contact and Support

Communication is vital when it comes to online investment platforms. This platform is completely disregarding this rule as they use an email channel. The problem with emails is they take long to get a response. These scam artists may decide not to respond to your email which most members have experienced.

False Claims

Once you scroll down their homepage, you get to realize these scam artists have posted fake claims. They include having a total of 129 members and being online for just 8 days. The total invested sum quoted on their homepage is $544.25. It means that these members have deposited less than $2 each which is impractical. The quoted withdrawal sum is put at $122.62. It means the total withdrawal money is less than the guaranteed profit margin with the basic account. These are scam artists who just target investors who are looking for a quick ROI.

Altracoin Hash and Mining Details

The platform claims to be a Bitcoin Mining platform and give no details as to how they do it. A true bitcoin mining platform will give users information regarding mining power. Why they fail to give users information about their mining services is beyond us. These are scam artists who are taking advantage of the Crypto mining world. Those seeking to get their own coins should be careful with their investments. These are scam artists who target unsuspecting online investors.

Payment Options

When it comes to how members deposit and withdraw funds, the homepage has no clear details. Their FAQ page suggests that members must have a Bitcoin wallet to deposit funds. They also claim the depository confirmation takes between one business day and 24 hours. Withdrawals are not possible as no member has ever had the chance to withdraw.

Safety of funds

The platform does not have a segregated account procedure which is against trading regulations. Members have been depositing funds straight to owner’s bank account. The platform has been pooling funds in one account which is contrary to trading rules. Members should not expect any compensation from this platform. Altracoin does not participate in any compensatory scheme.

Scam or legit Altracoin

About Altracoin Platform

Evidence clearly shows Altracoin is a scam waiting to pounce on unsuspecting investors. Stay away from this platform as it does not allow any withdrawals. Warn your family and friends from joining any of their affiliate programs. Once you join their affiliate programs, you are an accessory to online fraud. Mark their emails as spam and never click on any links sent by their email marketing team.

Bottom line

We have to add this platform to our scam blacklist and ensure no one else falls for this trap.

Stay safe and use Affordable and genuine Crypto trading robots when dealing with digital currency trading.

We wish all Crypto enthusiasts a safe mining and trading experience.

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