You probably encountered Hextracoin, and are wondering whether to invest your money here. The main selling point for this website is that they will make daily profits for you without hard work, skill, experience or risk (from your part). Again, when you carefully think about these things, you will realize that Hextracoin is promising a good life — usually the kind of life that is hard to come by. Only scammers promise these things.
So the main objective of this review is to talk about Hextracoin and let you know whether or not it’s safe to proceed with them. If you’re ready, you can go ahead and read the rest of this review.
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What exactly is Hextracoin.com, and what is the nature of their operation?
Well, to answer that question in an honest way, we could say that Hextracoin is a ponzi scheme based Bitcoin scam that recently emerged on the internet with the concept of helping people make more Bitcoin without any hard work or skill.
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The website appeared just recently and members of the Bitcoin community were quick to react by saying that it was an obvious scam.
We believe that the red flags are easy to spot. If the whole community is saying that this is a scam, then it only means that they must have spotted those red flags.
However, what is worrying is that Hextracoin is still gaining traction among those who are new to this industry. It means that even though it is being denounced, newbies are still falling for their sweet tricks.
Now, the most obvious promises for a ponzi scheme like Hextra coin is that they trade and lend altcoins so that they can make daily profits for you.
The other thing that this scam is promising is that you can earn interest by just storing your coins in their digital wallet.
So, what exactly do you need to do to get started with Hextracoin?
They claim that all you have to do is invest 10k so that you can earn 0.3% daily profit and a 48% monthly return on investment. These figures are guaranteed.
But this is just a big dream. It should only appeal to those who have money and are naive when it comes to how to invest that money in a meaningful way.
Of course we all know that the only way to ”make money” with a scam like this is by recruiting new members to join under you.
Once you have signed up to the pyramid scheme, you are required to pay some money and then get more people joining under you and doing the same thing so that their deposits can be used to pay you or older members who joined before you.
The problem with such a business model is that it does not have any legitimate business model in place. Think about it. These guys don’t have any product or service that is supposed to generate the amount of profit which they are promising.
You can be sure that Hextracoin is not mining Bitcoins or any other altcoin. Besides, you can be sure that these guys don’t have the means to implement the so-called cutting-edge technology that disrupts the Cryptocurrency industry.
Now, despite not proving how they generate this income, Hextracoin still promises that they will pay you 48% monthly return on investment without fail.
These guys must be operating like magicians, although it is common knowledge that magicians generally don’t involve themselves in such vice.
The only thing we can deduce from this phony operation is that these guys are intending to scam you of your hard earned money. If someone is promising 48% monthly return on investment with no risk, hard work, skill or anything, just know that this is a sign that they want to scam you.
Hextracoin has claimed that they are intending to make money through various means. For example, they claim that trading is one of them.
There is also lending, holding of Hextra coin (in what is referred to as proof of stake), mining and also referring other people to the program.
When these earning methods are combined, they are supposed to give you 48% return on investment.
The problem we have with Hextracoin scam is that we have not been able to find any proof suggesting that they mine Bitcoin.
With no indication whatsoever that these guys mine Bitcoin, one can’t be convinced that they have PoW and PoS mining going on behind the curtains.
In addition to this, Hextracoin does not have any whitepaper to describe who owns it, what operations they are intending to engage in and how they are planning to manage risks (if any).
The other concern is that there is no technical description of their blockchain details. Even after searching carefully to see if we can be lucky to find some pieces of information, we hit a dead end. We have been forced to believe that this is just a blatant attempt to scam people. Hextracoin blockchain might not even exist in the first place. That means the owner is just collecting new deposits and issuing payouts when they feel like doing so. It is not a genuine investment project.
On the same note, they talk about Hextracoin robot, which they claim will profit from the fluctuation in the price of altcoins.
The website claims that they have sold some 29 million coins which are now in supply.
Unfortunately, it is not possible to verify this claim as the coin is not listed on any major exchange that we know of. On top of this, the website has no transparency on these issues whatsoever. They love to keep investors wondering and guessing what happens next.
Besides mentioning the 29 million coins in supply, we don’t see anywhere on the site where the owners talk about the number of coins in their reserve.
This is supposed to be mentioned on the whitepaper, which they never provided anyway. Therefore, as it is right now, we don’t know whether or not some coins were dedicated to their reserve.
Hextracoin has proved to be an obvious scam. In fact, the contact link just takes us to their Facebook page which doesn’t do much in terms of giving us useful information about the website or its owners.
However, we get some hint that they are based in Dubai. The Facebook page in question is only flooded with complaints from people who allegedly lost money to this scam.
The site where Hextra coin is hosted at was registered in September 2017. The owners knowingly chose to privately register the domain and make it impossible for people to discover their identity.
The only way to contact these scammers would be through an email contact which they have published on their site.
Also, judging them using pathetic grammar found all over the site, it is highly unlikely that the scam is based out of an English-speaking country. It is also very unlikely that the scam is operating out of Dubai.
You need to keep a distance from this website because those red flags are very bright and hard to miss. There is 100% proof that your money will disappear.
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