Menu Review: Is Multicoinbank an Illusive Scam? Review: Is Multicoinbank an Illusive Scam?

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Multicoinbank is a cryptocurrency scam that entices investors with claims of doubling deposit within a period of 10 days. The company has a lot of traffic coming on its website. It is the latest pyramid scheme in the industry.

The platform is doomed to fail, as it cannot sustain the needs of investors. It is difficult to find an expert trader buying the narrative of a search Ponzi scheme. Usually, platforms like this one target novice investors.

If you do not have adequate insight, you find yourself investing in the wrong company. You can try these genuine digital currency mining companies that have no intention of scamming their client.

Like all other shady firms, Multicoinbank assured investors that they are legit. They use false information to entice more people in their system. The company brags of having a team of experts that works around the clock to ensure their client have stable earnings.

Despite them being new in the industry, they state that they have been in the market for the last five years. Sadly for them, we discredit the allegation as we checked on, and it appears the company was registered a few days ago.

Additionally, on the matter of having an expert team, we do not provide information that can support their claims. Without managerial reports, we cannot tell the qualification they have. The company is fabricating lies to gain the trust of investors, which is a major red flag.

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The pyramid scheme uses the money of new investors to cater to the withdrawal request. Multicoinbank is no different what you can expect is they will exit the market once the project is no longer profitable or when they have been exposed as fraudsters and their tactic will no longer work.

Multicoinbank Review

In this review, we will expose their false narrative and hoping we will save your money from landing in the hands of Multicoinbank scammers. In their web page, the brag of being qualified personnel in stock, currency, future, and bonds industry.

The analysts that they utilize have more than 10 years of experience in various industries. Hence, clients rest assured their money is in safe hands. Unfortunately, if you believe them, you only end up losing your money as well as sharing your personal information with professional scammers.

The daring Ponzi scheme has the guts to publish benefits that their team will enjoy. Let’s take a look at some of them; you will have more than 250 digital currency at your disposal that you can trade daily. The shady firm also states that they have over 500 new investors joining their system. You will enjoy a fully automated and transparent trading system. Review, Platform

The promise is common with various pyramid schemes as they offer irresistible deals and false claims that cannot be achieved. It is easy for newbies to fall for gullible information.

It is risky choosing a company that has no history or transparency in their investment activities. Receiving over 500 investors during a day is ridiculous, especially considering they have not gained a good reputation in the industry.

They are using a common marketing stunt of having pop-ups every few seconds that indicates the number of bitcoins that they have processed and a new client who has just signed in. All the information they have is a marketing strategy they are using to defraud clients.

Regulation and Registration

Multicoinbank claims that it is located in the United Kingdom. Multiple pyramid scheme is falsely stating they are registered in the UK. The reason behind this is because obtaining a registration certificate is cheap and easily accessible in the area. The documents can also be faked.

The platform might have a registration document from the UK, but this does not mean that they are legit. What you should look for is a regulation document from the recognized financial watchdog.

The financial conduct authority (FCA) does not feature MultiCoinBank in its database. The regulatory bodies have strict measures that all investment companies in the United Kingdom have to adhere to for them to collect money from members of the public.

Your money will be exposed to various risk since you’re depositing funds directly to the scammer’s account. They also do not have SSL and DDoS certificates hence exposing traders to multiple risks caused by hackers. In case Multicoinbank faces bankruptcy, you won’t be able to recover your money.

False testimonials

There are multiple numbers of the review that the company has published on their website. If you pay attention, you will realize that the testimonial is cherry-picked.

A pyramid scheme has ensured that we can no longer trust or rely on testimonials as they fabricate and display false statements. All the users are praising the website that it is paying.

There are no links that we can use to see the social media profiles of the people who have left behind these testimonials. The company should have real people brag of how the platform has been its financial breakthrough; unfortunately, that is not the case.

Unfortunately, they do not avail of proof of payment. We cannot believe the words blindly without having evidence. Multicoinbank does not avail of any information that shows they are generating returns. The fund managers have not audited any trading performance that can attest to their claims.

A Notorious Scam With a Catch

Multicoinbank is trying so hard to stay relevant even by providing false statements. They promise to double you bitcoins in just 10 days. The deal itself sounds too good to be true and trust us when we say there’s nothing good that will come out of this company.

Logically speaking, no business in the world can double your funds in a matter of 10 days. The company also does not disclose if they undertake Bitcoin mining or trading activities. We don’t know where their revenue is coming from.

Considering they are not regulated, it exposes you to many disadvantages. They will mysteriously give you double figures by your money laying around. The business model that is utilizing is also lacking in any way.

Legit companies will never promise you such figures as they cannot attain the amount. The company does not discuss the draw down and win rates that they experience. Cryptocurrency is a very risky venture, and making losses the volatility nature of assets inevitably ensures you cannot predict the future price.

They solely depend on their team to raise profits. The company does not have software that aids its investment activities. Moreover, the owner of Multicoinbank is running the show behind close doors. If anyone discovered an opportunity that could double investor bitcoins chances of sharing the idea with members of the public is very minimal. They will spend most of the time opening their portfolio instead of wasting time marketing. The platform will steal all your money without having any second thoughts.

Final verdict

Multicoinbank is a dirty scam that has no investment services taking place. Their website uses stock images to deceive investors. They are not based in the UK, and the firm has not provided any contact that you can contact them just in case you have any challenges.

The use of fake testimonial sets them up, and you can see they are not the best cryptocurrency platform to venture with. MulticoinBank should also publish their achievements since they falsely claim to have been in the market for years.

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