Avoid all platforms that go under the name Cryptexo. Several platforms are using this name, and all defraud investors. Today, we will be looking at cryptexoinvestment.com, which claims to help grow money. Other platforms related to this crypto fraud scheme include Cryptexo.xyz. We have every reason to believe both belong to the same group. Furthermore, there’s a warning from FINMA regarding this platform. Learn more in our detailed CRYPTEXO REVIEW.
According to their about us page. Cryptexo is a team of highly skilled Crypto traders. The platform claims the team has a combined experience of 32 years. Cryptexoinvestment.com is nothing near a perfect crypto investment company.
We feel it’s our duty to expose the platform after the warning from FINMA. But, unfortunately, not all investors will know about the warning. Once a platform is blacklisted by regulators, it’s best to stay away from it.
What’s the reason for FINMA to add the platform to their blacklist? Several reasons led to this platform being on the crosshairs of regulators. CNMV is also planning to issue a press statement warning investors of this very platform.
Investors should look for safe investment options that experts have tested. These platforms offer safe investment conditions and realistic profit margins. But, of course, it would be best if you had a reliable partner with experience and a formidable reputation.
Those who have already signed up with cryptexoinvestment.com are now unable to withdraw. Moreover, even after the vesting period is over, they can’t gain access to their funds. Such complaints have led regulators to blacklist the platform.
Accounts and Plans
There are four accounts and plans available on the platform. These include Starter, Silver, Gold, and Platinum. Although the ROI seems feasible, it’s the time aspect of it that makes it a problem. Here’s a closer look at these accounts and plans;
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The starter plan is the most basic and offers a daily ROI of 2.3 percent. To start investing, you can deposit a minimum of $150 and a maximum of $999. The catch is you have to deposit five times to get the set ROI of 2,3 percent.
With the silver plan, members get a daily ROI of 2.6 percent. The deposit required to start investing with the plan is set at $1,000 minimum and $4,999 maximum. You have to deposit nine times to get the full 2.6 percent ROI.
The gold plan comes with a guaranteed ROI of 3 percent, and members have to deposit 14 times. There’s a minimum allowed deposit of $5,000 and a maximum of $19,999.
It’s the most exclusive account and comes with a guaranteed ROI of 4 percent. However, the member has to deposit 30 times to start enjoying the ROI. a minimum deposit of $20,000 and a maximum of $100,000 is needed for this plan.
All these plans have one flaw, the time aspect of it. So there’s no way you can make this ROI in such a short time. And that’s another reason FINMA had to blacklist the platform.
Affiliate and Referral Commissions
There’s a 10 percent affiliate or referral commission available. It may seem an enticing way to earn passive income. But, at the end of the day, you won’t lose anything. It’s far from that; once you become an affiliate, a lot is at stake.
Victims will later blame you for directing them to a scam. No one will ever trust you. There’s no need to lose your reputation over this platform.
The name of the person running the entire platform remains unknown. Even those with a combined experience of 32 years are in the wind. And that makes Cryptexo another anonymous platform.
It has been targeting European investors for a while as this is the region where Crypto is booming. But, unfortunately, those who have already deposited funds don’t know the people handling their funds. And this is as far as risks go when investing.
You need to have a reliable platform that will be held fully responsible if things go south. In the case of cryptexouinvestment.com, you won’t even recover the account balance. It’s what a majority of members are facing at the moment.
You can see several clients who claim to have won big with this platform. These include the likes of Ava Benjamin, Thomas Amos, and Nathaniel Joel. All of these are positive comments which we only see on their platform.
There are no positive comments from other third-party websites or review sites. You won’t get any testimonials on TrustPilot. And this means the owner most likely forges the testimonials above.
Cryptexo License and Registration Status
Cryptexo is not a licensed or registered entity. The platform does not hold any license, which is a huge problem. As a result, those who sign up are using an unregulated entity which is a huge issue.
The platform does not follow industry rules hence the warning from FINMA. Without oversight, the platform is likely to take advantage of investors. So it’s another reason regulators are issuing a warning over this platform.
We don’t see any documents from this platform to prove compliance. There are no registration details for the parent company or whether the crypto experts are licensed. You should avoid investing with unregulated platforms.
Now here’s another missing feature that’s important in any investment platform. To get a hold of support, your only option is to send an email. There’s also a live chat agent that takes your email contact information.
Once you send your email, you start getting notifications about the user experience. Most of these are from people who claim to win with the platform. We had to wait for over fifteen minutes to get a live chat agent.
Domain records (cryptexoinvestment.com review)
The name of the registrant of the website has been redacted for privacy reasons. As we publish this post, the platform has been running for 166 days. The exact date the website went live was on January 20, 2021.
Features, Pros, and Cons of Cryptexo
You can only deposit funds using coin payment or e-wallets. Acceptable coins include Bitcoin, Bitcoin Cash, Dogecoin, Ethereum, and Litecoin. We don’t see the reason why anyone would want to deposit funds with this platform.
The platform is already blacklisted, and no one has proof of profiting from their investment plans. And that’s the reason why we must stay away from the platform.
Safety of funds with Cryptexo
Your funds are not safe with a platform that is on the blacklist of several regulators. What we mean is that the platform does not offer any safety measures to investors. There’s no safety net to protect investors from bankruptcy or insolvency.
A legit investment platform would ensure users have insurance cover for deposits made. And that’s the reason why you need to stay away from the platform. Once you deposit funds, there’s no telling what the owner does with them.
We suspect the owner transfers these coins to a private wallet and later converts them to FIAT.
After reviewing all aspects of the platform, we should add them to our blacklist. We hold our readers dear and must protect them from such platforms.
The best option is to use proven platforms with a solid reputation. Use platforms that enjoy the backing of the Crypto community.
You can leave a comment or feel free to email us with any queries. We would be happy to engage.