WeeklyEarn (weeklyearn.com) is an online investment opportunity which is supposedly involved in bitcoin mining and trading activities. It claims to yield returns of up to 20% weekly with no risk associated. There is no evidence to support their bold risk free claims. This service has been active for around 10 days as of writing this article. When we were investigating this service, it was quite clear that we are dealing with a fraudulent High Yield Investment Program. Read our full review to find out why you should never trust these faceless scammers.
WeeklyEarn Scam Warning-
There is no details about the creators behind this platform. In the world of investment firms lack of transparency is not tolerated at all. Every reputable company associates itself with the identity of the creators and portfolio managers behind their operations in order to maintain cordial and transparent relationship with their investors. Always remember only fraudulent firms maintain anonymity just to escape criminal prosecution.
WeeklyEarn offers investment packages and boasts it to be risk free. This firm represent an ICO wherein the funds for mining and trading activities are raised from investors or general public and in return they are provided with fixed monetary benefits after a certain time period. These type of firms are required to have special licenses in order to operate lawfully. While we were trying to find any certificates confirming licenses, we couldn’t find any. We have confirmed through FCA WeeklyEarn Limited has never been licensed which means they are operating illegally.
Earning money without putting any efforts on complete autopilot is a dream come true for everyone but unfortunately there is no such thing as easy money in financial markets. This firm claims to generate returns of up to 20% return on investment per week risk free. Though the numbers seem achievable, it is impossible to deliver these type of returns on a consistent basis because of the volatility present in the Crypto market. Claiming to generate high returns without any draw downs is an effective trick used by scams to attract newbie investors and convince them to deposit with their platform. If this platform was really offered the type of returns as advertised completely risk free, do you really think they would offer it to the public for free?
WeeklyEarn does not bother to state anything about which parameters they consider before entering a position. We have no clue about what parameters are considered by their software. There is no assurance about the win rate of their trading system. we do not know which risk management techniques are used by them(hedging or stop loss).What kind of investor entrusts a firm without knowing how their funds are used?
This firm is supposedly involved in mining cryptocurrencies. Mining was profitable a few years ago but as Bitcoin exploded in value in the 2017, the cost of maintaining mining rigs have gone up drastically and it no longer provides a good ROI unless and until you strategically set up the farms which involves a lot of upfront capital. WeeklyEarn does not disclose where their mining farms are situated and the equipment they use. Do they really think we are so dumb enough to trust them without any sort of credible proof?
If the investors have any question about this platform, the support team can be reached through email only. The telephone assistance is supposedly for VIP members only.
The investment plans on this platform range from $20 to $500. For higher returns, the investors have to commit with more upfront capital. The deposit and withdrawal methods accepted by this platform are Bitcoin, Payeer, PerfectMoney and advcash. They state that the withdrawals are processed within 24 hours.
WeeklyEarn is nothing more than a ponzi scheme which has already scammed a lot of people. Don’t be confused if at first they pay you. Understand the fact that the money is coming from new investors who have deposited. As we all know this model can’t last for long and eventually they will get shut down.
The affiliates promoting this scam are not only provided with handsome incentives but are also assisted with marketing tools and banners. Their main goal is to get as much people as possible to register and deposit with them before they decide to disappear with all the funds. Note that the affiliates promoting this fraudulent program does not have to be an active investor in order to get their share of the revenue.
WeeklyEarn Review Conclusion-
WeeklyEarn is just a get rich quick scheme which specifically targets newbie investors. Don’t interact with this firm for any reason.
Review Date: 2018/06/28
Author Rating: 1/5
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