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Our spectacrypto.com review exposes why SpectaCrypto is a scam crypto broker. Those who have invested with the broker are ruing the decision. It turns out Specta Crypto is blocking withdrawals. The broker is not as spectacular as they lead users to believe.
It all starts with the empty promises of making daily profit margins. But, unfortunately, the broker is one of those that entices naïve investors with high and quick profit margins. Here’s our detailed SPECTACRYPTO REVIEW for more.
Advisory: Investing in crypto requires having the right tools and investment strategies. That’s why experts recommend coin staking, DeFi, and Coin Staking. These are the best in terms of investors’ realistic profit margins and safety.
The company behind this scam is SpectaCrypto Ltd. There’s a considerable license certificate on the homepage banner. It attempts to fool naïve investors into thinking the broker is fully licensed.
Far from it, the broker fails to have any intentions of helping investors. Instead, those who invest get a raw deal, as their investment is what the broker is after. You won’t even have the opportunity to withdraw your initial deposit.
Spectacrypto.com is a high-yield crypto investment. These investment platforms are on the rise thanks to the profitability of crypto. You must avoid such liquidity providers or risk losing your initial investment.
Landing on the homepage was one of the first red flags we spotted. It all seems too good to be true. Hundreds of members are crying foul and have already lodged complaints against the broker.
Our specta crypto review exposes how the broker operates and eventually blocks withdrawals. Then, after promising high returns, investors sign up and deposit the preferred deposit amount. You then start seeing profit margins rise on your account dashboard.
Members are led to believe the platform is making good on its promise. At this juncture, the broker will call you and claim to help you win more. The broker will insist a large deposit will guarantee high returns in a few days.
Naïve investors fall for this trickery as the account balance shows a rising number. Little do they know the broker uses backend access to increase the account balance manually. Then, after depositing more funds, the broker goes silent.
Once the vesting period is complete, you then withdraw funds from the platform. It’s at this time that the broker shows their true intentions. You find out the balance is not available, and the broker blocks your account.
There are four investment plans to choose from with this broker. These include starter, classic, expert, and VIP. Each of these plans is unique to a different class of investors. Let’s take a closer look at each of these accounts;
Starter
It’s the account selected as best for beginner investors. You can only invest $50, and the maximum is $1,000. You get a promise of making an 8 percent guaranteed profit after vesting for 24 hours.
Classic
With the classic account, investors get a promise of making 20 percent after vesting for 24 hours. The minimum deposit is $1,001, with the maximum being $3,000. There are no additional bonuses or commissions to earn.
Expert
The expert account holder has a minimum deposit threshold of $3,001 and a maximum of $5,000. In addition, members get a promise of making guaranteed profit margins of 40 percent. The vesting period, however, is 48 hours.
VIP Plan
It’s the most exclusive account of them all. Members get a whopping 4 percent every 10 hours. You can only invest $5,001 with a maximum set threshold of $500,000. There are no bonuses or commissions to earn with this tier.
From experience, we can see these are false narratives sold to naïve investors. The broker targets investors who want a quick turnover within a few days. And therein is the trap set by crypto scammers in the online world.
The vesting period is too short of guaranteeing such high-profit margins. These accounts have two scam features, guaranteed profit margins and short vesting periods. No sane investor or professional trader can ensure profit margins.
Even robots don’t have the luxury of guaranteeing profit margins. The crypto market is volatile; every once in a while, investors and traders face risks. That’s one of the red flags to spot in a crypto scam.
The minimum vesting period in a genuine crypto investment should be three to four months. Take the example of coin staking; getting reasonable profit margins takes three months. However, the broker claims to make high-profit margins in hours.
The broker introduces an affiliate program to attract more investors to join the fray. You have to become a member first to join the affiliate partnership. Before you partner with the platform, note a few key issues.
The broker fails to offer much in terms of commissions. No affiliate ever gets the chance to earn a commission with the platform. The broker is only looking to take advantage of your connections. Those who you direct to the platform eventually become victims.
Before becoming an affiliate, you have to do due diligence. Make sure you find out which store does best to help investors and traders alike. The broker in question introduces a 3-level commission program.
Affiliates are set to earn 4 percent for the first level and 0.5 percent respectively for the other two. Please avoid this affiliate program, as you can be held liable for losses incurred by investors.
Your funds are far from safe with a broker who fails to offer much accountability and transparency. In addition, the broker is not licensed and doesn’t offer insurance coverage for deposits made by investors.
There’s also the issue of failing to deposit the required amount with regulators to open such a business. Regulators use these funds to act as insurance cover for deposits made by the public. Unfortunately, it means there’s no cover for public members once the platform goes under.
You also don’t get any DDoS protection or SSL encryption on the platform. As a result, the platform is not only a hacker’s gold miner but also a high-risk platform for identity theft. Hackers can easily take over the deposit process and steal funds from your wallet.
The broker is also to blame for not segregating accounts and funds. The broker holds all funds in a single account. There’s no stopping the owner from using the deposits for personal use.
You get to choose several deposit options, including bank and wire transfers. In addition, the broker also avails of crypto funding. However, withdrawing funds from the platform remains the biggest problem facing investors.
Spectacrypto.com doesn’t have a valid license to operate as a crypto or forex liquidity provider. Furthermore, the certificate shown on the homepage is false and doesn’t match any documents from regulators. That’s how we know the broker is a scam.
Don’t expect any support from staff members. The broker fails to offer live chat support or direct line to brokers. Instead, it’s a broker who wants to avoid any contact with would-be victims.
Please avoid investing with spectacrypto.com.
PS: Here are the best crypto investment alternatives.
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