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Cryptomatic App Review: Is cryptomaticapp.com a Scam?

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Cryptomatic App Review: Is cryptomaticapp.com a Scam?

This crypto-mining website uses the CryptoMatic trading software that was developed by David Fox. Its main aim was to help investors trade using bitcoin. The creator of this crypto mining software claims that he has an advanced trading technique that allows realizing profits of 1 to 2 bitcoins per week.

This advanced trading technique should be identified to help increase investors’ trust levels. Machines with proof of functionality in trading bitcoin are, for example, the MicroBT’s Whatsminer M30S++ that can yield up to a profit of $8.53. This kind of benefit is attained by a machine that produces a hash rate of 112 terahashes per second. The more the hash rate per second, the more the profit.

The $8.53 profit is just 0.0008 of a bitcoin. Achieving a gain of 1 bitcoin in a week is really impossible. As of July 2020, the price of 1 bitcoin was $9164.54.

Advantages of Autopilot trading robots

Here are the pros of using dependable and tested cryptocurrency trading robots. These robots offer much in terms of better positioning yourself.

  • Portfolio diversification

Traders can run multiple accounts using robots and thus, increase the trader’s portfolio diversification. You get to run multiple accounts and strategies and benefiting from robots that do all the heavy lifting.

  • Increased accuracy

Manual trading creates a lot of errors especially those related to currency pairs, execution price, and position size. Algorithmic trading helps keep such issues out of bay as the bot have a more accurate sense of taste for the market.

  • Minimize trading costs

Bots help identify optimal market entry and exit points. It takes into consideration account liquidity levels not forgetting market volatility. These bots ensure brokerage fees are minimal and bring in maximum profitability.

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  • A high success rate

With these robots, members should expect to get a high success rate than using manual traders or even crypto trading brokers.

Records indicate that the recommended cryptocurrency trading robots make over 85 percent in ROI.

And that means the robots will hit the set target with ease unlike humans who are prone to errors and performance issues.

  • Best in class

These recommended robots are best in class and offer investors the best way of investing in crypto and volatile markets.

The robots have been tested and proven to offer the best in terms of accuracy and overall efficiency in terms of crypto trading.

  • Live price streaming

You get live price streaming on demo or even live accounts thanks to the versatility of automated robots. These robots are secure and come with 128-bit encryption that protects traders on all platforms.

  • Unmatched customer support

Want to get the best out of crypto trading? You need to get support from reliable staff members all the time.

How cryptomaticapp.com operate

According to cryptomaticapp.com, the return on investment is 1-2 bitcoins per week per user. What does that mean? This means that for every investment made by an investor, the profit per week should be $9164.54 or 18329.08 for each investor.

Let us see how bitcoins work. The first step to trading bitcoin is to verify and add transactions to the public block chain ledger, then solve an energy-intensive puzzle that each bitcoin machine computes every ten minutes after which the first winner adds a new block to the block chain, and the reward is only granted to the winner who solved the puzzle first.

Cryptomatic App Review, Cryptomaticapp.com platform

This process repeats every ten minutes. If more people are mining, the harder it will be to win. Achieving the promised profit margin is definitely very hard in this era since many brokers are trading bitcoins. Also, the cost of running the machines affects the profit margin. This cost depends on the location and electricity rates in that area.

The advanced trading technique

This technique stated by David Fox is meant to build trust in investors that it works. We don’t understand which technique this is. For a method whose existence is over five years, and not known, you should ask yourselves very many questions. No review has vouched for it as a trading technique that works. Investors need to see this life or in a demo.

There is no such demonstration, thus our reservations in recommending this platform to investors. A legit crypto mining software will be run by the (Application Specific Integrated Circuits) ASICs specialized hardware since a computer can’t be used anymore. MicroBT’s Whatsminer M30S++ is a machine that is used for trading bitcoins competitively.

He also claims to have a financially and technologically experienced team that works with him. The team’s specialties have not been detailed in the cryptomaticapp.com website. Legit crypto mining companies identify with their team, and this is for ease of trust and reliance by the investors.

Requirements for using the CryptoMatic software

One is required to deposit a minimum of 250 euro to start trading. At this stage, no one knows whether the software works. There is also another weird requirement needed for providing one’s personal email and registration name. The necessity of this information is not given.

Insufficient information

The mining software has provided very minimal information about its operations. Where is the company based, how does it operate, what are the details of its registration and licensing information. What process does this trading software go through to win big? What kind of technology is behind the app’s creation?

There exist a select few of crypto trading platforms that are legit. They provide all the required documentation for operations in the crypto mining industry. Always use them instead of dealing with scam platforms. They will always offer benefits and not losses like the shady non-registered mining companies.

Fraudulent website creator and testimonials

David Fox, the creator of CryptoMatic mining software, doesn’t exist in the registration details as detailed in whois.com. He is certainly not the creator of this software. He is not among the team they created it.

This means that even the said team of professionals working behind the scenes with David doesn’t exist. The software, too, is non-existent.

The testimonials listed are a lie as the persons giving testimonies have never traded nor had any information they can tell us about the CryptoMatic software or the site itself. The testimonials listed are just falsified creations made to attract more investors. They are only setups to trap people. Please stay away from this mining system as its end goal is to steal from investors.

The idea that experience isn’t necessary

David fox states that there is no need for experience in trading, financial markets, or in using the software as the system does everything for you. For this reason, beginners might be quick to jump on it. However, this is not recommended. Research is the basis of proper trading, and Any legit crypto mining expert will tell you this. All these companies need this experience to judge right. To know what machine should be used in the block chain puzzle solving.

These big promises of less information needed were the catch. Fraudsters have been selling their scam sites to investors in this way. Knowledge is power. Do your research!

Contact information.

There is no channel of communication between the investor and David Fox or his team. The crypto mining broker does not have a set office, or a telephone number or an email address, or a live chat section on the website. How then does communication go on between the two business partners?

This is very unlike legit platforms. Registered sites are always ready to help and respond to issues and concerns of their investors. They thoroughly understand that frustrations of people don’t go well in the long run. They will, therefore, have efficient communication channels, unlike the shady crypto mining companies.

Relation with another shady company

Through our investigations, we were able to realize that this platform had been used in the past by other scammers. During our investigation process, we noticed that on completion of the registration process that involves paying 250 euro, the funds aren’t deposited into cryptomaticapp.com’s site but into Trade Capital.

The broker trade capital has engaged in multiple fraudulent schemes and has done this successfully. We think that he has created a network of scam sites to get more than he was getting before. He is an unregulated broker that can’t be taken lightly.

The fact that the CryptoMatic trading software creator is working hand in hand with Trade Capital shows that it’s a scam. You can’t trust a broker with your client’s money if you are not working together. They are working together to milk investors in the market

Final Verdict

Trading through regulated brokers is the only legitimate way that investors should invest their funds. These upcoming fraudulent schemes are too many and aren’t going away any time soon.

Get accustomed to using them and them alone.

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