ZmartBit (Zmartbit.com) review is out after some crypto enthusiasts engaged with the crypto trading software. Zmart Bit is a crypto scam that makes allegations of making users rich in a short time. Judging from the number of complaints, the platform has swindled from investors all over the globe. And this is an excellent time to explain how the platform has been duping investors. The platform also claims to teach about Crypto trading at an affordable price. Read this entire post for more.
Once you land on their homepage, one can easily be deceived by the website’s design. Most of the users were allured by the enticing website that looks professional. There is nothing professional about a platform that steals from users. With no end in question, we have to expose the crypto training platform. What looks like a simple Crypto mentorship program is nothing but a rude awakening. The robot is all about making money for the developer while the user ails in pain.
There are appropriate and transparent Crypto trading bots that offer safe trading experience. Newbies get the chance to trade and learn thanks to the vast information provided by these bots. It is why going for these robots is recommended by expert traders. The trading community fully backs these robots as they provide protection for investments. With these robots, users are promised a fair trading experience. Ensure you sign up with simple crypto bots that provide the best available features.
The owner of ZmartBit is unknown, which is a good enough reason to stay away. Scam artists are now creeping into the lucrative Crypto trading world. With the platform offering insane profit claims, this is one shocking platform. There are significant problems, to begin with from their homepage presentation. One can quickly note that there is no contact information listed on the platform. The social media profiles do not have any updates, which should be cause for concern.
A vendor that does not explain the crypto assets is hiding something. The platform will openly become a huge problem later on as it is a pyramid scheme. Even the training materials are from other notable sources. Those who have signed up and paid for the services were shocked to learn the truth. These developers were copying material from the web and other notable free PDFs. It was after some time that some students noticed the learning materials could be downloaded free.
There is no mention of who is running the platform. The disclaimer at the footer of their homepage shows Will Flores as the International sales manager. We checked with official sites such as LinkedIn for his profile. There is no Will Flores, who is an international sales manager. We are not even sure that such a title exists in today’s trading world. And these are the reasons why we believe the name is fictional. These scam artists have just posted the image of a person and gave it a name, Will Flores.
We have been receiving countless emails from users who lost money with the platform. Most of these victims seem to come from one area, Portugal. The platform also doubles up as an MLM company, which means it’s more of a pyramid scheme. Those who signed up at the beginning are benefitting from other victim’s funds. The benefits will cease to exist once membership numbers decline. From what we have seen over the years, the platform is nowhere near a legit training and mentorship program.
A look at their domain history suggests that the platform went live on 14th July 2010. As of updating this post, the platform has been over ten years in the industry. How they have managed to go this long without any authority intervening is beyond us. We know that to evade authorities, the vendor must be changing their IP address. And this is the case as they have made five notable changes over the past year. It means they are recycling the product under a different service.
There is an affiliate program where users pay $260 to sign up. Imagine having to pay a company to work for them. It should be the other way round, and this is what makes the platform a scam. The platform offers a recruitment commission that is 40 percent of the deposited amount. One could think that this is an enticing offer; there is a catch. Users have to withdraw the funds after a certain set period. And this gives the developers time to change their IP before the time elapses. Both the affiliate member and investor lose their funds, the vendor goes home smiling.
After checking with most regulators in Europe, it is clear ZmartBit is yet to receive the backing of authorities. And this points to a platform that offers no security of funds to users. Without protection from the vendor, there is no way of recovering funds. The vendor does not provide insurance cover for deposits made. It puts all users who deposit funds with the platform at risk. When it comes to recovering funds, users should remember the platform has no contact details.
Most regulators in Europe plan to block the use of this platform. After more complaints started piling up, the FCA intends to ban the use of this platform. With more and more scams out there, there is a chance that users will flee the Crypto market. The only safe way is to use products that have years of trading experience. What’s more shocking is that the vendor fails to inform users of their license status. The developer should notify users of the pending risks involved with an unregulated entity.
ZmartBit is furnishing affiliate members with ten levels, White being the least and Platinum the highest. White level users have to pay the initial cost of $260 and earn $125 per position. Platinum level affiliate members pay $8600 and make $6 per position filled. The affiliate program benefits the vendor. Most will sign up with $260, which will be shared by the members. Extra funds goes to the vendor and is more than enough. From what we have seen, this is a pyramid scheme operated by an MLM company.
Users will be notified that the platform leaves no contact information on their homepage. Affiliate members are paid via Bitcoin, which is another problem if one paid using the normal currency. Why would the vendor accept payment via regular currency and insist only on Bitcoin payout? Without contact details, there is no way of reaching the person behind this platform. And this is the reason why no one should sign up with this trading platform. It is a waste of your money and time.
Another problem with this platform is that there is no actual verification of results. No one has come out with proof of withdrawing funds with the vendor. Most of the comments we have seen are from aggrieved parties. It is this reason that we have to expose the platform. Without any proof of withdrawal, the platform remains to be a problem for most users. And this is why there have been complaints. We hope authorities will hear our plea and shut down the platform entirely.
ZmartBit is a scam, and there is no doubt about it. Even the name is coined from smart Bitcoin, which is what scam artists do. They come up with lousy names that sound like a legit platform. Stay safe and avoid using this ruthless trading platform.
We won’t be recommending a pyramid scheme that is stealing from users.
There are other proven ways to get ahead in the Crypto trading world. Interested parties should join affordable crypto trading robots. These robots have been tested and shown to produce realistic profit margins. Try them out today and start getting passive income from crypto trading.
Our team wishes all investors a safe trading experience.
Valforex.com will not be liable for any damages incurred due to the usage of any information displayed on this website. The information and trading guides found on the website constitute the authors’ opinion only. Trading Forex, Binary options and Cryptocurrencies involve high-risk and are not suitable for all investors. Online trading in general, may not be legal in your jurisdiction. It’s visitors’ responsibility to make sure these entities are legal in their jurisdiction before engaging in trading activity. All trademarks, images and logos that appear on this site are copyrights of their respective owners and have been used under the Act of Fair Use.