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GluTech is another Crypto MLM high risk investment platform that deceived hundreds of investors. Read our glutech.io review for more on why this is a risky investment option.
The platform claims to invest in Cryptocurrency, and their preferred coin is BNB. Once you vest with the platform, GluTech guarantees daily profit margin. The platform acts as a staking platform only that, that’s far from the case.
After investigating the platform, the truth finally crept out with cracks appearing a few weeks back. It turns out the people behind it were scam artists and also hired actors to try and sell the platform.
For those who fell for it, the pain is unimaginable as the platform found ways to convince members to deposit more. With vesting period on the corner. GluTech decided to completely block all withdrawals.
No one has managed to recover a penny from the platform, and that’s why we have to expose the culprits behind it. You need to use tested and verified crypto investment to enjoy realistic and reasonable profit margins.
Find out more on how GluTech managed to deceive investors in our detailed GLUTECH REVIEW.
Grant Homes was the voice and main actor behind this platform. He was the face of GluTech and nobody realized his true identity until one user found his LinkedIn profile. As it turns out, he’s a voice artists with numerous acting and voice campaigns.
On his LinkedIn profile, you will find a dozen of such sale pitches regarding making passive income. What exactly did GluTech profess to offer? The website is not gone dark with investors losing everything deposited.
To join GluTech, victims were invited via an invite links by affiliates. The platform used affiliates to target naïve investors through pushy sales pitches. These affiliates were also promised a large chunk of commissions.
As it turns out, the platform was also using affiliates to generate wealth for the people behind it. The platform is completely anonymous with no proof of anyone working for the platform. And that’s why we don’t trust such platforms.
To safely invest in the crypto space, a platform must have two features, transparency and verifiable results. Without these two features, we recommend you stay away from the platform despite the high profit margin claims.
Just as with any high yield investment platform, GluTech was also offering daily guaranteed profit margins. The vesting period was far less than what was expected. That’s why we have to expose the platform’s lack of transparency.
There were two targeted victims, affiliates and the investors who would sign up for the staking services. The plot was simple, have as many users sign up and deposit large chunks of funds and later block withdrawals.
Affiliates would at times get a small commission just to ensure they brought in other investors. On the other hand, investors would withdraw part of their deposit which was plotted as the ROI earned.
With the first withdrawal, investor would get the impression that the platform was actually going to make them rich. What they didn’t know is that they were withdrawing part of their initial deposit.
The plot was set to lure investors into bringing in more funds. You would deposit an initial amount of $1,000 and the platform would let you withdraw $100 or $200 as part of the daily ROI.
That withdrawal prompted investors to pump more funds hoping to get more. It was a mistake as the platform wouldn’t let investor withdraw funds for the second time. That’s how investors started losing out on this ‘wonder staking platform.’
There are five accounts to choose from when it came to staking services. These plans all promised daily ROIs at a certain percentage. The five accounts included Bronze, Silver, Gold, Platinum and Diamond.
Let’s take a closer look at what each plan brings to the table;
It’s the most basic account with the platform promising investors a chance to get in from the ground up. The minimum deposit was $1,000 with the acceptable maximum deposit set at $5,000. There was a promise of making 20 percent in daily ROI.
The minimum vesting period on this account was 25 days to a maximum of 8 weeks.
For silver account holders, they were also eligible for earning bonuses and commissions. The platform would offer a 10 percent welcome bonus of the invested amount. The acceptable minimum deposit was $10,000 with the maximum set at $20,000.
Vesting period was 40 days to a maximum of 12 weeks.
You had to deposit a minimum of $30,000 to a maximum of $50,000 with the platform offering a welcome deposit of 20 percent. The account promised daily ROI Margins of 40 percent for a period lasting 16 weeks.
Affiliates would also get the same ROI after enlisting 40 investors to this account.
Here’s one of the premier accounts offering guaranteed daily ROI of 60 percent. Investors had to deposit a minimum of 100,000 to a maximum of $250,000 to get started. The account vesting period was 24 weeks.
Affiliates would get high bonuses as well as staking points for enlisting 100 investors on this account.
Here’s the most exclusive account with investors having to deposit over half a million dollars to get started. The account promised investors a chance to make guaranteed 80 percent ROI within 32 weeks.
Affiliates would also get a lion’s share of the commission after enlisting 150 investors with the diamond account.
After the platform started blocking withdrawals for the first batch of investors, the second batch didn’t know about it. It was not until the fourth and fifth batch of investors did comments start sprawling all over the web.
By this time, it was clear GluTech was a failed staking platform swindling investors of BNB coin and others of the FIAT amount deposited. Some of the sales agents have since deleted their accounts with the YouTube channel failing to upload content.
Before you invest in any platform, it’s best to try and find out the experiences of other users on the platform. That gives you an idea of what to expect once you sign up.
GluTech was not about safeguarding the interest of investors. As a rule of thumb, you have to invest in a platform that offers deposit insurance to ensure you don’t fall prey to scammers or theft from the platform.
You have to confirm whether a platform does have a valid license to operate and offer investing services. GluTech didn’t even have a business permit to operate or solicit funds for investing. If they did, they would show it for the public to confirm.
From the disgruntled reviews put out there, it was clear from the word go GluTech was a scam. If the platform happens to reboot itself in the coming months, please stay away. You also need to stay away from products affiliated with the two sales people on the platform.
After reviewing every possible scenario, it’s clear GluTech is a scam. Here are reasons that make GluTech a scam;
Please Note: Despite this shortcoming with platforms such as GluTech, there are valid ways of investing and staking in the crypto world. Check out these leading staking platforms the industry has to offer.
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