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Selectedbank is a mining pyramid scheme that offers investors ridiculous returns within an unrealistic timeline.
The platform has an excellent user-interface, but do not be fooled. They state that to start earning from the investment company, you will need to follow a short procedure.
The platform observes anonymity; hence they do not ask for any personal information from their investors. Investors are required to deposit a certain amount of funds to start receiving daily profits.
The fraudulent company does not limit its clients on the number of the deposit that they can make. They encourage users to deposit in many accounts as they can to receive even more returns.
Selectedbank assures investors that they will gain their profits every 24 hours. You can deposit funds using Payeer, Bitcoin, Ethereum, Perfect Money, Dogecoin, and Litecoin.
For the withdrawal, the least amount that you can cash out is equivalent to $20 in Bitcoin and Ethereum, while another method of payment is $1.
These scammers process the withdrawal requests manually, and it takes 3 to 5 business days to be completed.
The duration that they put up is long, while there are legit mining companies that take less than 24 hours to complete the same process. It raises red flags despite the platform stating that users’ can cash out as many times as they please.
Selectedbank.com assure investors in digital currency finance stable returns despite the cryptos being highly volatile.
The success of this platform goes to their ability, expert online analysts who monitor the market tirelessly, exploiting any chance that they come across. The least amount that you can deposit is $10.
The company claims that they maximize their client’s profits, all thanks to the favorable exchange rate. Selectedbank.com gains from the unstable currency price in the market.
The platform acknowledges that the digital currency venture is risky. The reason they built this platform is to help investors make vast returns without consuming most of their time or acquiring complicated skills.
The financial narrative is very touchy, and many will fall for their mere words. Unfortunately, for you to thrive and shine in the mining sector, you need to have basic knowledge of how it works; additionally, you need to be patient as you cannot become a millionaire overnight.
Despite the platform not being around for long in the industry, the information on their site raises suspicion as they indicate they have received numerous clients and deposits.
Nonetheless, the shady platform brags of having a professional team that is determined to offering their clients the best services in the market,
Regardless they do not show the performance report of their team. As the investors, you should know the qualification of the people handling your funds.
Selectedbank.com does not feature any licensing document on their site. The company claims that they accept funds from all over the world.
For them to do it legally, they need to obtain relevant permission from various financial watchdogs in the market.
But, Selectedbank does not give a hoot of the law; they risk facing criminal charges. It is a major red flag for an investment company not to have regulatory documents.
Countries like the UK and the USA have put up strict measures to protect their citizens from these online investment scammers.
Moreover, Selectedbank is operating anonymously. The founder of the company remains unknown to the public, and the platform does not disclose its location.
If you encounter any challenges with your investment, there is no method of resolving the issue, as Selectedbank does not offer any customer support.
They do not have an email address or a phone number that you can reach them through. Anonymity is something that is not appreciated in the online venture. The pyramid scheme operates behind the shadow to avoid being caught by the law. Stay away from Selectedbank.com.
Selectedbank has five investment plans ready for its victims. The packages are very luring and promise investors’ quick returns.
The first package offers users a return of 140% after one day. The second plan promise users a yield of 320% after 5 days.
The third plan, which is custom, promises investors a profit of 650% after 10 days. You can deposit funds from $500 up to $100,000. Even the competitor of Selectedbank.com is not offering anything close to these absurd figures.
Medium is the fourth package of this fraudulent company; it assures investors a return of 1400% after 20 days. The modern plan offers users a profit of 3500% after 50 days. The final plan promised investors 4500% returns after 80 days.
The returns are mind-blowing, and who wouldn’t want to achieve such profits. Unfortunately, this is nothing but a false narrative. If at all, Selectedbank was offering the returns they have displayed on their website, everyone would be flocking on their company.
Moreover, there would be a lot of success stories from real investors. However, this company is being run by professional scammers who know what to tell you.
The shady platform depends on their existing clients to do their dirty bidding for them. They ask investors to invite as many people as they can and increase their income.
The referral program is open to everyone in the world. Unfortunately, the affiliate program of Selectedbank will only benefit the initial investors and shady marketers.
They offer 1% to 5% from 1 up to 250 referrals that you will recruit. The second level offers a 1%-7% profit from 251 up to 450 people that you refer to the platform.
The third level promises investors a commission of 1%-12% from 451 and above referrals. Sadly, Pyramid schemes use the deposit of new investors to pay up their pioneer clients. The platform has no intention whatsoever to make anybody rich.
Once there is no more traffic coming in their site, they close down their operation with investors’ money.
During our research, we were able to gather useful information that gave us a demographic view of the shady platform. The company domain name is Selectedbank.com.
The domain name was registered in April 2020 and will expire in the same month the year 2021. The Alexa ranking of this platform is 888,333, and the area they target their audience from is Bangladesh, and Russia.
What these pyramid schemes are promising users is misleading, and nothing but bogus information.
It is ridiculous that Selectedbank state that few crypto companies are offering digital currency investment services while there are numerous legit mining firms in the industry.
Ironically this pyramid scheme assures their clients their funds will be safe since they observe high-security protocols. They also term the 3-5 days withdraw process as fast.
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