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Multicoinbank.com Review: Is Multicoinbank an Illusive Scam?

Multicoinbank.com Review: Is Multicoinbank an Illusive Scam?

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The Crypto currency investment industry is attracting scammers by the day, and Multicoinbank.com is the latest fraud to surface on the internet, claiming to double Bitcoins in 10 record days. This miracle working site does not baffle financial experts because seasoned investors already don’t waste their time on cheap scams like this one. However, it can be a real headache for people who are new to this industry as they ponder in their minds concerning whether or not Multicoinbank is a real investment destination. If you are that kind of an investor wanting to try investing in Crypto currency for the first time, then this review is for you. You could also try investing in genuine Crypto currency cloud mining websites. 

Multicoinbank relies on fabricated promises and lies to steal your Bitcoin. By doing so, the desperate investor will be left with no option but to try perusing a corporate entity that does not even exist. They claim to be an internationally legal company that is registered in the UK. They also claim to have employed traders who work 24 hours a day to make more stable profits for their investors. The site even claims to have existed for the last 5 years ago. However, quick investigations which can be done by anybody on who.is shows that the site has been in existence for less than a year. So definitely the claims are fabricated and possibly the site is not working with any professional traders. It would be extremely expensive to deliver a genuine product than to scam people instead. That is why Multicoinbank is not going to last a long time. After the scammers make enough or when the project reaches a stage when it can no longer sustain itself, it will eventually collapse and the owner will run away with the funds.

MultiCoinBank

However, for the sake of investors and their hard earned money, this is something that can be devastating. To know more about Multicoinbank, read this review in details. Here’s what we think.

Multicoinbank review

They claim to be a group of ”qualified experts” in the field of stocks, bonds, futures and currency markets in general. They claim that their financial analysts have a combined experienced of more than 10 years. These scammers go ahead to list down reasons why investors should work with them. They claim the following:

(a) More than 250 plus Crypto currencies traded on a daily basis.

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(b)Around 500 investors joining Multicoinbank on a daily basis.

(c)Fully automated and transparent live system.

From what we have listed above (which can be found on the website as well), you can establish that the statements above are meant to lure the gullible investor who is quick to believe just about any kind of information. It is not possible that a site like Multicoinbank has 500 people joining on a daily basis. It is also not possible that these scammers are transparent because actually when you look at the site, the owners and operators are 100% anonymous. When we look at the traffic numbers, we also realize that they don’t add up at all. The site does not rank well on Alexa, and this is an indication that Multicoinbank does not receive the alleged number of daily registrations.

An observation of the scam site indicates that the owner is using a script that activates a pops up every few seconds showing the number of Bitcoins that have been processed by the site. This is a marketing stunt. It is designed to convince users that people are actually investing with this site. However, the truth is that those transactions are fake. It is just a pop up script which has been programmed to show fake numbers and make visitors imagine that the site is actually receiving funds from real investors.

Their registration status is questionable

MultiCoinBank claims to be a registered company which is based in the UK. The truth is that scammers have found a safe haven for creating their companies in the UK because it’s cheap and its adds a level of credibility to their already dubious business entities. So for that reason, MultiCoinBank may actually have a real registered company in the UK. But does this mean that they are legit? Not at all.

Having said this, the kind of business that MultiCoinBank claims to deal in is required to obtain a license. These are rules that have been listed by the FCA. All companies that claim to invest their client’s funds are required by law to obtain FCA authorizations but this particular company does not have this license despite the fact that they are based in the UK. Does this mean that your funds will never be safe in the hands of these forks? Definitely.

Is there any proof that MultiCoinBank is generating returns?

For a website to claim that they are generating returns, they must provide something that convinces their audience that this is so. Most genuine fund managers will audit their trading performance with an independent and trusted third party. However, MultiCoinBank does not work with any third party for purposes of verifying their alleged returns. So this means that the site is also lying about their doubled Bitcoins in 10 days. It is just meant to lure victims into a financial trap.

Bitcoin cannot double in 10 days

These promises sound too good to be true and we can promise you that this is a scam, which is why nobody can believe it. One thing you have to understand is that even if this site was trading your Bitcoin, there is no way they could double your investments in the said time span. But because they are scammers, they must come up with a fake story that will convince those who are not too careful with their hard earned money.

Our best advice for you

MultiCoinBank is actually a very cheap scam which is not even worth your time at all. That is why the owners are anonymous and they are actually not willing to prove the alleged returns. Invest with these recognized trading products. 

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