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Snapbots is a new crypto company that is claiming to use modern crypto trading bots to provide maximum profits via crypto trading and staking. The website of the company, SnapBots.io, makes many different claims to seem like a legitimate and profitable source of income.Â
Therefore, it is important to review SnapBots in detail so that you are able to make a smart investment decision and determine whether you can trust the company.
SnapBots promises significant profits and passive income to users via crypto trading and various income opportunities. SnapBots.io also states that earning money with the company is quite easy because all you have to do is hold your crypto coins with the Snapbots wallet to earn profits.
SnapBots does not provide any solid information about the owner of the company or the team behind the platform. Instead, it makes general claims that a team of highly professional and experienced individuals is running the company.
However, the social media accounts of SnapBots reveal interesting information that Bernard Ong is the Chief Financial Officer (CFO) on the LinkedIn profile. Ong was the CEO of Torque Trading, a well-known crypto scam. Therefore, it is evident that a scammer is behind the company.
The analysis of SnapBots.io shows that it was first registered in February 2018. However, it was not until 2019 when the company started promoting itself on various platforms. Torque Trading was also launched in 2019 that points to the fact that similar people are running both of these platforms.
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The marketing videos of SnapBots also have a number of other managing directors who were a part of the Torque Trading. Therefore, there is no doubt about the fact that people who were involved in Ponzi schemes are running SnapBots.io.
The company tries its best to promote itself as a legitimate company that is different from the other crypto schemes. Yet, the available evidence about the company clearly shows that the platform is like any other crypto Ponzi scheme that needs your investment for its survival.
SnapBots uses an internal crypto token called SNAP to conduct its transactions. The website is asking users to invest a significant amount of money in the company to get access to income opportunities. The SNAP token is not traded on any major crypto exchange.
According to the internal data available at SnapBots.io, each SNAP token is equal to about 0.85 USDT. The marketing videos also suggest that the company is a promising investment in the form of BTC, ETH, and LTC.
It is clearly a crypto Ponzi scheme because the website states that once you invest in the SNAP tokens, you will be getting 2% to 5% profits on a monthly basis.
The MLM side of SnapBots.io is highly dependent on your investment. The company does not seem to have any external source of income, due to which there is a very high chance that the company will eventually collapse due to a lack of funds.
SnapBots also promises significant referral and recruitment commissions through a traditional uni-level income structure. It also shows that the company is similar to any other crypto Ponzi scheme.
You can only qualify for the referral and recruitment bonuses if you invest 1000 SNAP tokens in the company. Affiliates of level 1 can earn 30% referral commissions by directly recruiting new members. On the other hand, members of level 2 can generate 15% referral commissions.
You should keep in mind that you will have to recruit a significant number of people before you are able to make any significant profits. It is better to avoid investing in companies like SnapBots because they can collapse at any time due to a lack of funds. Instead, you should be investing in genuine crypto investment companies that provide huge profits via crypto staking.Â
SnapBots.io mentions many different features of the company to attract people and get their investment. Let’s review these features in detail to determine whether you can trust the company’s claims.
SnapBots is encouraging users to fully trust the company with their investment because the company is using reliable AI trading bots to provide profits round the clock. However, you should keep in mind that there is no proof that the company actually has access to such modern and efficient trading tools and technologies.
SnapBots is trying to make people invest in the company by claiming that it will be very simple and easy for you to make profits. Yet, the business model of the company has nothing to do with crypto trading procedures.
Instead, the income structure of the company is all about the MLM scheme in which you have to recruit as many people as you can to make any significant profits.
SnapBots.io states that there are no risks involved in the company, so you can fully trust it to make maximum profits. However, you should keep in mind that the team behind the company was involved in crypto scams and Ponzi schemes like Torque Trading.
Therefore, you cannot trust SnapBots’s claims of being a reliable and secure platform. Even if you manage to make some profits with the company, they will not be any significant.
SnapBots.io states that users can choose various types of staking options to get profits through the company. However, there are no major staking options available in SnapBots.
Instead, the main focus of the company is on making people buy the SNAP tokens. It contradicts the company’s claims of being a reliable crypto staking platform. In fact, it shows that the company is similar to any other crypto Ponzi scheme.
SnapBots.io is promoting itself as a well-established name in the crypto industry. It is simply not true because the company is not getting much online traffic. Moreover, not many users are showing interest in the company. There is a very high chance that the company can collapse due to a lack of recruitment and limited funds.
SnapBots is clearly a Ponzi scheme from a team that is known to be behind Ponzi schemes. If you are thinking about investing in SnapBots.io, you should remember the fact that Snap Innovations organization is behind the company, which also supports the fact that the company is a trading Ponzi scam.
Moreover, SnapBots is using SNAP tokens to perform transactions. Such tokens do not have any value in the crypto market. Therefore, even if you get profits from the company in SNAP tokens, they will be insignificant as you will not be able to convert them into any other currency.
The fact that SnapBots promises monthly returns also shows that the company is like any other crypto Ponzi scheme. Without any external source of revenue, there is a very high chance that the company will collapse due to a lack of funds.
The analysis of SnapBots.io also shows that the company is not getting much traffic from users. In other words, the company is not getting much investment from the affiliates.
The bottom line is you should not be investing in SnapBots because it can collapse at any time. Instead, you should invest in genuine crypto investment companies that provide massive profits via reliable crypto trading and crypto staking strategies.
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