In this review, we have a not so popular website called Profitcoins.io. Profitcoins is a Cryptocurrency robot that buys and sells different Cryptocurrencies for profits. The profits that traders can allegedly earn per day are up to 1%.The software is being offered for free and according to the fake testimonials, it is very profitable to those who have tested it. We actually don’t understand how a fake robot can beat genuine Cryptocurrency trading bots like these ones.
The vendor is charging zero fees to operate the robot. This is mainly because they have teamed up with a broker who will reward them with commissions when you sign up. Is this a bad thing? Not at all. However, it amounts to fraud if the software is not able to perform as promised by the vendor.
Profitcoins was allegedly developed by 3 people known as Rocio Knights, David McCoy, and Tony Mahony, all of which are represented by stock photos. Mr. Knights is allegedly 36 years old, a financial advisor and an investor who manages big deals at Wallstreet.
Mr. McCoy is allegedly a scientist, mathematician and a lecturer at the University of Cambridge. He is also alleged to have developed the trading algorithm of Profitcoins software.
Finally, Mr. Mahony is introduced as a former managing director & senior manager of the New York-based T3 Trading Inc. He has allegedly worked at Wallstreet too in the 90s. They claim that Mahony and Knights are buddies.
Well, the question that we are asking is why these individuals have been introduced with stock photos? If they truly have amazing professional profile in the area of trading, we should be able to verify their respective background without facing any challenges. Unfortunately, this is not possible. Profitcoins has not made it possible for us to investigate and find out who these people really are and why they have been represented by stock photos.
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The other thing is that their professional profiles and background cannot be found on sites such as LinkedIn or anywhere else you are likely to find people who have worked in Wallstreet. We find this suspicious indeed. The owner of Profitcoins possibly made up these stories. We want to find out the truth. Fortunately, the truth is all in the website. When we look at the website in details, we will be able to find out whether or not Profitcoins is looking to mislead us.
After going through the website and realizing that it is filled with so much information, we decided to conduct a small background check on the domain of this website. The domain was actually registered in December 2017. What we don’t understand or are not sure of is the claim that they have since acquired 3,500+ users. There is no way to verify this data and find out the truth.
Nearly all claims that have been made by Profit Coins websites are allegations that can’t be proved or substantiated. For example, the website states that Profit Coins is a London fintech start-up that makes consistent profits for its users (3,500+) worldwide. The phrase consistent profits must always be accompanied with evidence of profitable trading. This is trading and money is often involved.
Why can’t the owner of Profit Coins show us what they trade and how much they make? They must be working in tandem with Cryptocurrency exchanges. So getting a brokerage statement from these exchanges shouldn’t be an uphill task unless there is foul play.
They also claim that Profit Coins has been featured several times on TV and magazines in the trading scenes. Well, this claim needs to be accompanied with some evidence too. Can they mention or show us at least one TV show or magazine where ProfitCoins was highlighted? Again, the answer is no. They are not giving us any evidence. They are instead making claims which we are supposed to blindly believe. Nothing is so difficult about mentioning which TV shows Profit Coins appeared in.
Profit Coins says that they will be your personal investment adviser and that one is not required to have prior knowledge of trading.
In other words, ProfitCoins is saying that they are giving investment advice. But do they have a license for this activity? Apparently, the answer is No. These guys are giving illegal investment advice. It means that they are not recognized since they have not officially applied and gotten a regulator’s license.
For that reason alone, you have to stay away from ProfitCoins at all cost. There is no reason why a ”professional investment advisor” can legally operate in any first world and even developing countries without a regulator’s license.
Profit Coins website claims that users only need between 5-10 minutes off investing per day in order to make a monthly profit. That is not a realistic claim, and that is why they cannot substantiate it with evidence of their past investment activities.
Is 30% per month a realistic ROI? We doubt this claim. But some people can achieve it. However, no person has ever maintained such a monthly ROI. It keeps fluctuating. It can’t be guaranteed as we have said that with any form of investment, nothing can be guaranteed.
ProfitCoins is saying that those who are not satisfied with this robot will get refunded. The question is, what mechanisms have been put in place to guarantee that you will receive a refund? It’s easier said than done. Without such a mechanism in place, rest assured that this is just empty talk. You will never get a refund.
On their website, they have a few testimonials from people who are allegedly praising ProfitCoins. They claim that they have been making money with this software. But are these claims true? Well, these claims have not been verified and might just be empty lies.
It is easy to say that Profit Coins buys and sells Bitcoins for profit. However, what we have not seen is evidence of its activities. We have not been able to confirm whether or not the alleged owners are the real people behind Profitcoins. Good news, you can avoid getting scammed by using these Crypto trading robots.
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