Profitcoins.io created a lot of noise in the crypto space a few years back. However, now it is dead and people that fell for this scam have lost thousands of dollars. As this firm was unregulated, they managed to flee away from the scene, but that does not mean that the victims should keep quiet.
This platform promised users 1% returns daily. Though the number they showcased appeared small, it isn’t. If any algorithm could sustain that kind of return, then it would be a complete game changer and the founders would never give it to the public for free, right?
During our investigation, we found many disturbing facts about them. Few of the things done by the creators of this platform are criminal and they will face a lot of consequences if they are ever caught. If you are interested in learning all of their flaws and the reasons why you need to avoid them, take a look at the following paragraphs.
The finance sector loves transparency and investors usually put more money in a firm that has cordial relationships with the users. On Profitcoins.io’s home page, there is information about the founders and even pictures are provided. However, there is a hidden catch and it is sinister, to say the least.
First of all, the images used are most probably stock photos and the details provided by them are all bogus. In other words, the real creators are hiding and are operating using fake profiles to safeguard their identities.
We ran a deep search about this firm but still could not find any information about them. In other words, they are unregulated and the kind of control they have over the funds is unjustifiable. This firm is operating outside the boundaries of law and the real founders will be thrown into prison shortly.
How does Profitcoins.io Work?
Many traders and investors are trying to figure out the answer to this question, but are unable to because there is no such thing as making 1% returns per day. According to the explanation on their site, the algorithm supposedly scans and finds high-probability trading setups.
The narrative put up by them is vague and it does not instill confidence. The fact that they are not talking about the real trading strategy, risk parameters, and volatility metrics tells us everything we need to know about them. Trading any asset is a risky venture, risk is ever present and unless you have an edge, you will lose money sooner or later.
Though automated trading is a boon, do not believe vague and unregulated bots like this one that promises you the world, but does not offer you any proof. Think about it for a moment, if their system was that good, would they give it to the public for free?
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Returns Showcased
This bot supposedly generates 1% returns daily. If we do some quick math, this software claims to generate over 300% annually. Ask yourself, do you believe anyone can triple their money without lifting a finger? The bluff is easy to spot once you look at the bigger picture.
Just in case you are wondering, know that there is no trading history or audited reports provided by them. Given the way they have lied about other things, it is a no-brainer move to walk away from them, right? After all, making money can never be that easy, and anyone that says otherwise is most likely to be a con man.
Profitcoins.io User Reviews
Trading systems usually leave a ton of trials behind. People can learn a lot about automated trading bots and their flaws just by looking at the previous systems and products. Profitcoins.io has got a bad reputation and a lot of people have lost money to them.
Users have depicted their experience clearly and it is heartbreaking to see the kind of things they had to go through. To give you a glimpse, we have gathered the following comments, and gone through them to get a better understanding of the way this scam worked. (Source – Trustpilot)
I lost 7k with these scammers and i wish i could get my money back it sucks
SCAM!! they stole my BTC. Have reported them to the FBI and FORBES magazine.
Verdict
Platforms like Profitcoins.io have a huge degree of conflict of interest with the users. They make money only if the client loses and as they are unregulated, they do things that can never be considered as fair.
From data feed to changing policies, they have the upper hand and it is next to impossible to get funds back from them. So, the best thing to do is to avoid firms like this one, or else you might lose things that are more valuable than money.
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