Coingoldspot.com Review – Desperate Ponzi Scam

Coingoldspot.com is a weird platform which claims to be involved in trading agricultural produce and cryptocurrencies. On top of these two sectors, they also state that a huge part of their income comes from mining few select cryptos. Almost everything about them is mysterious and judging by their traits, we can easily say that they are nothing more than a scam which will make their investors lose.

As expected, there are no personal details about the actual creators and the employees or people running this platform are also operating from the shadows. If you think we have covered most of the nasty flaws of this platform in the introduction itself, then you are definitely wrong. To know the real agendas of this platform and all the traps set up by them to lure investors, stick with us till the end.

License and Support Details

Most of the countries around the world have set up certain guidelines for investment firms to follow. Due to the ever growing number of fraud, government authorities are putting in a lot of efforts to enlighten the clients about the actual market mechanisms which in turn enables the people to distinguish between the legit and fraud entities. This platform accepts people from all around the world and legally speaking, they should hold proper licenses from many countries to conduct this type of activity.

However, when we checked the database of FCA and FTC, there wasn’t any information about them. So, it is crystal clear that they are operating illegally and if caught the creators will have to face criminal prosecution for sure. The funny thing about this platform is that they don’t offer customer support. Since they realise the seriousness of their offense, they are trying their best to avoid getting detected by law agencies.

So, as a result they do not have any mode of communication with the public. Given these many red flags, think for a minute, are they really worth it?

How does Coingoldspot.com Work?

Coingoldspot.com claims to be an active participant in the derivatives field. They state that they trade major agricultural produce, cryptocurrencies and are supposedly involved in crypto mining as well. The narrative put up by them does not contain any confidence boosting factor and it raises more questions than answers. First of all, they never share the actual process they follow when it comes to trading.

There is no clear explanation as to how the funds are handled. Moreover, the win rate or draw downs of their alleged custom strategy is unknown. With the current available data, investing with them means you will be kissing goodbye to your money and the odds will make it impossible for you to get any portion of your capital back.

Moving on to the mining aspect of the business, they haven’t covered any details on their website. So, you would be trusting them blindly if you decide to go with them and that is not a wise move. Trading and mining both are comprised of varying degrees of risk. If you impulsively jump into them without knowing the parameters, chances are you will get burned financially.

Investment Plans and Profits

Any experienced investors or trader will laugh at the promises made by this firm because they are absolutely ridiculous. They advertise 17.5% ROI per hour which is unheard of in the realm of the trading sector. Exaggerated claims is a typical trait of a scam and it is just put up by them to capture your attention.

Once the funds are under their control, then they will never pay you a penny and will simply block you. As they accept cryptocurrency, it will be next to impossible to track them. In short, do not get excited by looking at the numbers they are promising and never entertain their platform for any reason.

Affiliate Program

Since we have already established the fact that this platform is a ponzi scheme, it needs a lot of traffic to thrive or it will die. To get more customers, this firm has employed the infamous affiliate model. In simple words, this platform pays a fixed amount of money to all the promoters to refer people to them. As the nature of the firm is already illegal, they allow all the unethical and borderline criminal ways of marketing principle.

Everything between the promoters and creators clearly has mutual benefits and together they are manipulating the public and are sharing the loot between themselves. So, if you see any positive feedback, review or videos on social media, understand that it is a trap and never dare to test them.

Domain Information

Look at the data we have gathered using alexa.com and whois.com below, it should tell you all the general information of this website.

Domain – Coingoldspot.com

Registered On – 17/01/2020

Expiry – 17/01/2021

Alexa Global Rank – 144,477

Rank in Venezuela – 2,994

Target Audience – Venezuela, Russia and Brazil

Coingoldspot.com Review Conclusion

In the vast ocean of online investing, Coingoldspot.com is just another scam which relies on desperate people to make money. They have nothing to offer which can be categorized as valuable or even legal. Their only sole motive is to rip off the public and sooner or later if you indulge with them, they will find a way to do it. Bottom line is, if an investment firm is not regulated in the first place, never waste your time by proceeding with them regardless of the fortunes they promise.

Have you lost money to the Coingoldspot.com ponzi scheme? Share your opinion by leaving a comment below.