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Coinxo is a shady asset management company with a ridiculous sales pitch. Their return on investments are equally exaggerated and can’t be sustained even if they paid the promised percentage. On top of that, Coinxo does not allow investors to test their service with a small amount such as $5. If you end up getting convinced and are planning to test their service, there is no way you can fund an account with less than $1000. That is a risk that a rational person would never take.
Since Coinxo is shady, there are a number of things we should be looking into in this discussion. The aim is to try and see how reliable and trustworthy these guys can be in terms of their investment operations. After all, it’s your right to know where your money will be going to. $1000 is not a small investment. You should demand to know how this money shall be invested and what trading or investment techniques will be used to multiply it. Finally, you want to know if your funds are safe in the hands of coinxo.com.
According to records which can be found on Companies House, Coinxo is registered as a fund management company where people known as RODRIGUEZ and Melinda work as secretaries. We have no idea where these two employees are listed with one name only. It makes it quite difficult to verify if indeed they work for this entity.
The company was registered on 16th Nov 2017. It is very new, and typical of ponzi scheme platforms that disappear 6 months down the line.
The provided address of this company is Kemp House, 160 City Road, London, United Kingdom, EC1V 2NX which corresponds to the address written on their website.
Therefore, it appears that indeed CoinXo is operating out of the UK.
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This company claims to mine and trade Cryptocurrencies for their customers. They also claim that Coinxo has gone ahead to invest in modern mining equipment which will ensure high efficiency in their mining operations, thus profits can be acquired.
Besides this, one of their 3 investment plans mentions that the company also trades Forex and Binary options for their clients.
No further details have been divulged concerning their trading activities except when they claim that they are working with several exchanges to trade Cryptos.
For their Forex and binary options trading activities, we are totally in the green because CoinXo does not expose any evidence which suggests that indeed they are involved in the trading of these instruments.
And of course this website is also offering a 3% referral system to boost the income of members who purchase any of their plans.
This model of business might suggest that there is an element of ponzi scheme in the CoinXo way of business. They are encouraging more sign ups through the implementation of a referral program which will automatically make gullible people try sharing this suspicious investment opportunity with families and friends.
Unfortunately, we are not endorsing CoinXo yet because there are many problems that need the attention of investors here.
CoinXo is offering weekly return on investment of up to 10%. That is 40% per month. Do you think this makes sense? No, it doesn’t because they have not factored draw down in their trading activities, and neither have they considered the fluctuating cost of mining Cryptocurrencies.
Therefore, no one should be promising 10% per week ever. Unfortunately, scammers do make those promises even if they know very well that 10% per week is not achievable and definitely not sustainable. Do we consider them a scam? Maybe yes and maybe not. But you must understand that similar operations have resulted in investors losing their funds on the internet. One of the iconic cases here has to be the collapse of Bitconnect scam, a ponzi scheme that set the trend which is now being used by platforms like CoinXo and the rest.
Will Coinxo survive? We doubt it. Will they pay you the promised return? No way. So are they are scam? Possibly. But we definitely can’t lie to you that they will pay you any amount of money. The profits are just too good to be true.
Whereas they are claiming that this company is involved in mining and trading, there is no reference of their mining farms or trading activities anywhere on the site.
This actually makes them look suspicious. A cloud mining company must tell us everything related to their mining activities, just in case they can’t produce proof of their mining activities.
What Cryptos do they mine? No one has an idea. Which Forex pairs to they trade? Again, we are clueless. But one thing is certain. These guys are only making claims which are hard to verify.
They have not provided us with any trading results. This makes it impossible to gauge their profitability in this business — that is, if they ever trade assets.
Coinxo will definitely fail because they are implementing the same business model that failed pyramid schemes once implemented and stole every coin from their users.
While they have a phone number on their site which can be used to contact them, we feel that reaching out to them would be a total waste of time since they have not given us any reason to contact them in the first place.
Also, the site’s presentation is not attractive. The logo is poorly designed and looks out of place. The professionalism of this site is clearly suffering. Definitely people can’t trust them.
If you want to trade Cryptos, use this link to find out what software is available for use. If you want to mine instead, we have collected a few reliable companies for doing this job. You should pick any of these companies because they have been in this business for a long time now. But you should definitely avoid CoinXo because no real mining or trading is going on there.
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