Is Ethtrade.club a poor attempt at stealing your Ethereum? We think so. There is a fair chance of losing money in the hands of these anonymous individuals. After giving it a careful thought, we are quite convinced that EthTrade is a risky venture to participate in. There is a lot of ambiguity in the way they describe their company and how they intend to generate the alleged profits. EthTrade states that they are ‘’experts’’ in the field of Ethereum trading and would like to share their experience with everyone. Apparently, those claims are unverified since these ‘’Ethereum trading experts’’ are largely ghost workers who cannot be traced. The website’s domain is privately registered, further emphasizing on the fact that EthTrade website is not safe and reliable.
To know more about this lazy scam, continue reading this review.
Let’s take a moment to discuss all the red flags and question marks that this site leaves behind. Can they be trusted when they say that they are a team of highly talented professionals? It would be a mistake to trust them because they are anonymous in the first place. Even if we wanted to trust them, it would be an uphill task trying to believe someone who doesn’t want to reveal their identity and are instead using license-free stock images.
According to EthTrade, the team behind it has a goal in mind, and that is to popularize the ‘’universal Ethereum platform’’. They are now inviting investors to deposit a specific amount so that they can trade and multiply those deposits each month.
The site explains that your funds will be safe because they are using smart Ethereum contract. Unfortunately, this is such a lame explanation as to how funds are supposed to be kept in a safe place.
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In an attempt to exploit the ignorance of those who are not familiar with how smart contract for Ethereum works, the site claims that they will not be in possession of your Ethereum because it’s being held by the smart contract.
While Ethereum is a concept of a smart contract, the act of transferring your Ethereum to these scammers will mean that they can access your money and get the transaction recorded in the smart contract accordingly.
To put it into better perspective, let’s say you send money to an individual. When the transaction is done, the individual gains the rights to receive the money and even withdraw it. The same thing happens with Blockchain technology for Bitcoins and smart contract for Ethereum. However, this is not the way EthTrade is explaining it. Instead, they want the financially naïve to believe that once Ethereum is sent to the website, the owner won’t be able to withdraw it, and so the money is in safe hands. That is a big lie. It is a misconception and a ploy to steal your Ethereum. As we have explained above, you will lose your Ethereum when you send it to these guys. Period!
They are taking it too far by claiming that they are a quality asset management company. Their company status cannot be verified as there is no registered company by the name EthTrade.
Secondly, they are claiming to trade Eth/Btc and Eth/Usd pairs. Well, this is something we can’t verify as well. Since we have already established that this entity is operated by anonymous people, we can’t tell for sure whether they are real traders or not. It would be hard to verify this claim in the face of so much uncertainty.
Oh, EthTrade is even making 25% monthly returns and claiming that they are using a variety of trading strategies in order to generate such massive returns.
But this is also a big fat lie. You cannot make 25% per month and maintain that ROI. It is unsustainable. You can only come across such promises in scam websites whose job is to collect Cryptocurrencies from randoms who surf the web in search for genuine investment opportunities.
While they claim to be professional traders, that’s something we are not ready to believe yet especially now that no evidence of trading has ever been presented by this website. Also, the promise that they will present you with a detailed record of their trading performance once you sign in is a lie. It is just meant to attract you. You can be certain that nothing is real here.
They have presented us with a couple of faces allegedly belonging to the owners/directors of this company. The profiles of these people cannot be verified. There is no link or evidence that these people have been trading or actively participating in matters related to smart contracts.
Therefore, it should not surprise you when you discover that these people are mere stock photos. Their titles in this imaginary company have been fabricated as well since no such persons work for EthTrade entity.
EthTrade would be at loggerheads with regulators because they are offering a service that is regulated in all jurisdictions. In fact, EthTrade is actually committing a crime by offering an asset management service without a license. It shows the canning nature of the operator of this site. They are not ignorant on this fact. They know very well that it is a crime to offer asset management services without a license that assures investors of their regulated status.
It’s easy to spot a lazy scam. EthTrade is probably targeting the financially naïve and hustling them of whatever little they are holding in their Ethereum wallets. You can be sure that such scams are merciless. There is no 25% per month returns. This is a lie, which is why they cannot support the claim with evidence of their past performance. The site is still new. There is no user feedback at the moment. Please try investing in Ethereum using these trading robots.
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