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Cloud Token Review: CloudTokenWallet.com is an Old Crypto Fraud

Cloud Token Review: CloudTokenWallet.com is an Old Crypto Fraud

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Cloud Token is a crypto trading and wallet company. It has been operating since 2018. The company has evolved several times. Its latest domain, CloudTokenWallet.com, presents itself as the future of banking by offering numerous crypto banking solutions. There are many aspects of this platform that shows that it is a total fraud. This article discusses the various features of this company and numerous controversies surrounding this crypto platform.

Overview of Cloud Token

Cloud Token claims to be the world’s first crypto bank that offers the lowest monthly interest rates and quick 24/7 withdrawals. Furthermore, the CryptoTokenWallet.com states that it is an all-in-one platform that can support all types of crypto coins and currencies. A powerful and efficient blockchain system is supposed to be behind this company.

There is no doubt about the fact that this crypto company and wallet has tried to reinvent itself a lot of time. However, it is claiming to be only Cloud Wallet 2.0 that uses the 4th generation blockchain technology for wealth management. It entices the users by stating that members of the company can use their wallet to earn, store, and spend all types of crypto coins whenever they want. However, there is no proof that CloudTokenWallet.com can support any type of crypto coin.

The website claims that this platform was established to minimize the inequality of the present financial system and provide financial freedom to every individual of the society. However, the very motivation of the company is contradicted by the fact that its packages are quite expensive. It is hard to believe that the company is targeting the lower-middle class in any way. In fact, its target audience seems to be only the elite class.

Features of Cloud Token

Before discussing the features of Cloud Token, you should remember that these are the features that are mentioned on the official website of the company. There is no external data or proof to validate these claims.

CloudTokenWallet.com claims to have the following features:

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Blockchain 4.0

Cloud Token is claiming to have the latest blockchain 4.0 technology that can establish a quick connection between nodes. It also facilitates data processing at a very high speed. It supports payment solutions, e-commerce, and many other features.

Trading Bot

The trading bot of Cloud Token can help you in making efficient crypto trading strategies and investing in the right stocks. The bot is supposed to help you both buy and sell the assets.

Planner

The company is also offering a Travel Planner feature that enables the members of the Cloud Token to spend their earning on flights, rentals, hotels, and other products and services.

Prepaid Card

CloudTokenWallet.com heavily features a prepaid card and e-wallet. Users have to pay at least $50 to buy the prepaid card. The site claims that you can use this card in any ATM in the world.

Security

The company claims to have state-of-the-art safety and security with the help of efficient anti-theft technology and powerful security checks. The website mentions the security features of the wallet on several pages. It clearly shows that the company is trying to highlight this feature to attract greater investment.

CloudTokenWallet.com

How to Join Cloud Token?

In order to join Cloud Token, you have to download their application in your android or iOS device. Once you have signed-up on their app, you get the option of buying and selling CTOs. The marketing team behind this company is very clever because they do not mention the cost of joining this platform anywhere on CloudTokenWallet.com.

However, once you have installed their app, you have to make an investment of at least $100 to proceed and use the features of this company. A maximum investment of $100,000 is possible. Moreover, you have to pay a monthly interest of 6% to 15%, depending on your initial investment.

A $100 investment is a significant amount of money for a company like Cloud Token that has been embroiled in scandals since its inception. You should not invest in this company because many countries have already declared it to be a fraudulent platform. Instead, you should invest your time, energy, and money in crypto trading bots. These bots are quick, efficient, reliable, and provide a variety of trading preferences that allow you to earn maximum profits via crypto trading.

Controversies of Cloud Token

Cloud Token attracted a lot of attention when it was established in 2018 because it claimed to be the world’s leading crypto wallet. Since that time, a great number of controversies have surrounded the Cloud Token. Many countries and authorities have issued warnings against CloudTokenWallet.com. Some of the popular actions against Cloud Token are:

Fraud Warnings

  1. Cloud Token was claiming to have strong ties with World Blockchain Forum, Singapore. However, in June 2019, the authorities in Singapore found this working relationship to be highly suspicious. During the investigation, it was uncovered that Ronald Aai is running Cloud Token from the offices of WBF. The authorities in Singapore concluded that the company was operating illegally and banned it in the country. As a result, Ronald Aai moved his operations to Malaysia. The Monetary Authority of Singapore is pursuing legal action against this company as well.
  2. In September 2019, the financial authorities of Mauritius issued stern fraud warnings against Cloud Token. The statements clearly warned the public against using this platform because it was promoting itself using bots and fake users on social media.

Other investigations

Many other countries are also investigating CloudTokenWallet.com. Securities Commission Malaysia is also thoroughly inspecting this company because it is operating from Malaysia. Moreover, the USA has also declared that the crypto wallet should get registered with the concerned authorities as soon as possible if it wants to continue operating in the states.

Cloud Token

There are many other Ponzi crypto companies that are operating worldwide but have not prompted this much investigation. The primary reason for this is that Cloud Token is claiming to be an all-in-one solution for all of the banking, especially crypto wallet, problems. However, it does not seem to be officially registered with any regulatory authority in the world that has attracted great scrutiny.

Company Collapse

In early June 2020, it was reported that Cloud Token had collapsed due to lack of investment, COVID-19 pandemic, and continuous worldwide investigations. However, the admin of the company, Ronald Aai, has refused to shut it down. Instead, its ultimate demise keeps delaying because the team behind the company is trying to reinvent the platform by changing its domain.

Conclusion

It is quite evident that Cloud Token has no future in the crypto industry. Lack of users and immense scrutiny will eventually result in the shut down of this crypto scam company. No matter where you live, you should keep in mind that New Zealand, Singapore, and many other countries have already banned CloudTokenWallet.com due to its fraudulent activities. Investing in this company would be a huge mistake as there is a very high chance you will end up losing all of your invested money.

Hence, you should avoid investing in Cloud Token at all. Instead, familiarize yourself with genuine crypto trading bots that can help you in making good money. These bots have a user-friendly and efficient design that allows everyone to easily use the bots for crypto trading. Moreover, a variety of trading plans and strategies enables the traders to trade on their own terms and conditions.

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