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Here’s our candid Cryptofary.com review that exposes why Cryptofary is a scam. Those who have invested in this cloud mining scam have lost it all. The platform is no longer allowing members to withdraw funds.
And that’s a bummer considering each plan’s lucrative goals. One would expect the platform to offer realistic returns with seven plans to choose from. Learn more in our detailed CRYPTOFARY REVIEW.
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The platform claims to help members earn high interest in their returns. Most of the vesting period is no more than 15 days. And that’s one of the biggest red flags you will find in a cloud mining scam.
We suspect the platform uses these high return and short vesting term claims to lure investors. Those who want a quick return should be more realistic with these ventures. There’s no way such margins are met with the volatile crypto market.
Most naïve investors believe their social media stories about huge crypto gains. Yes, some are real, but not all are true. Some of these are paid actors who sell the crypto investment dream.
And as such, scammers aim to take advantage of naïve investors not knowing about crypto investments. That’s why you need to wake up and understand crypto and how to invest safely.
Once you land on the homepage, you get a purple-themed crypto platform. Not that fancy, and the member dashboard is horrible at best. Navigating through the pages is not fast enough. And all the pages listed redirect users to the homepage.
No professional was involved in creating the website. After signing up, the account dashboard pop ups and requests that you deposit funds. After depositing funds, the balance appears on your dashboard.
You are required to wait until the vesting period is complete for you to withdraw the gains. Two weeks later, the account balance showed an increase. You get excited thinking you’ve hit the jackpot.
Once you click the withdrawal tab, that’s when things get real. The platform will insist you have to deposit another sum to withdraw the initial deposit. If you mistake depositing more funds, the store blocks your account.
Starter
It’s the most basic account with investors getting a promise of earning 10 percent ROI. The vesting period is 15 days with a minimum and maximum deposit of $500 and $1,000, respectively.
Basic
Members get a 15 percent promised ROI with the principal included. The vesting period remains the same, 15 days. You must make a minimum and maximum deposit of $1,500 and $2,500, respectively.
Diamond
It comes with a 25 percent guaranteed profit return. You also get a maximum vesting period of two weeks, with the principal included. The platform also promises instant payment. You have to deposit between $3,000 and $10,000, respectively.
Professional
Thirty-five percent is the promised gains for members of this tier. You must invest a minimum of $5,000 and a maximum of $10,000 to get started. Members are urged to vest for three weeks to get maximum returns.
Executive
With the executive account, members must deposit $10,000 and a maximum of $15,000. There’s a promise of making 40 percent ROI within 15 days. The tariff promises a principal return and instant payment.
Gold
Fifty percent is the promised profit margin with this plan. Members must deposit $15,000 and a maximum of 30,000 to get started. The vesting period remains the same, 15 days, with the principal included.
Standard
It’s the most exclusive account of them all. Members must deposit $30,000 to a maximum of $1 million. You get a promise of making a $55 percent ROI within 15 days. The platform mainly targets institutional investors with this plan.
We can see a trend with these plans, promising to make high returns in a few days. How the platform manages to pull such claims is an absurdity. The broker in question doesn’t understand market conditions.
No expert or robot can hit such targets in a matter of days. The platform doesn’t reveal how it plans to invest your funds. There’s no proof of any payouts if it’s a cloud mining service.
We also see a broker desperate to fool investors into believing it’s a genuine trading platform. But, unfortunately, the platform is not as you would think. And thousands are losing funds after this liquidity provider blocks withdrawals.
There’s a 5 percent referral commission to earn as an affiliate. But, before you do your math, know that the store is only looking to take advantage of you. No affiliate has received any payouts from the platform.
Plus, those you direct to the store lose their investments. And that’s why you must stay away from it all. The platform will make you look like a fool after directing family and friends to the pit.
No, your funds are far from safe with a broker who fails to segregate funds. The broker is at fault for not protecting the interests of members. However, we believe the platform should be at fault for several reasons, including online theft.
The broker also fails to offer DDoS protection and SSL encryption despite claiming so. We could see some loopholes during the sign up process. The broker also fails to provide insurance cover for deposits made by the public.
Each liquidity provider must deposit a certain amount with regulators. The amount in most jurisdictions amounts to a minimum of $20 million. That’s the insurance used when the platform goes bankrupt.
In such a scenario, members are to get compensation. That’s not the case with Cryptofary. As the name suggests, this is a fairy tale with members being at the losing end. Please stay away from the platform.
One of the ways to find out if a platform is genuine or not is the bonuses on offer. If they seem too high, then something’s amiss. But, of course, no broker would intentionally claim to offer large bonuses to investors.
On the other hand, regulators are against brokers who offer bonuses and commissions. These brokers are obstructing fair trading practices. Most brokers later use the bonuses to inflict more pain on investors and traders.
As the broker blocks withdrawals, we have to rate them a 1/10. You will also find the same happening with other independent review websites. That’s why you must avoid the platform or risk losing it all.
You must be willing to see the reality and escape the empty promises offered by brokers. Get to know the truth from friction, especially in the crypto industry. It probably isn’t if the deal sounds too good to be true.
Cryptofary.com is not a licensed platform.
Please stay away from the broker.
NB: Invest in proven strategies that push crypto investors to the top.
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