CryptoFast.biz is an high yield investment program which makes bold claims of generating up to 500% ROI per day. It is absolutely needless to say that, the return claims are an obvious lies.
When we took a look at their service, we found a lot of disturbing factors which are the common traits seen in a scam. This service has been active for just over 2 months as of writing this article.
Read our unbiased review to find out why you should stay away from this phony HYIP scam.
Creator, Company and Support
Any organisation thrives to maintain cordial and transparent relationship with the customers because without them there is no business but this firm completely neglects that aspect. The faceless scammers behind this platform have never revealed their identity in order to avoid criminal prosecution.
Companies which provide financial service and investment advice to the general public are required to be regulated by certain authorities depending upon their location. Apart from claiming to be a registered company in United Kingdom, they do not state any other details like the physical address of the firm and their company number.
Claiming to be a regulated entity is just an effective trick used by fraudulent firms like these to earn the trust of the investors.
The support team of this firm can be reached through telephone and email. They state that the they are open from 10:00 to 17:00 London time on business days.
This firm claims to be involved in a lot of activities at once. For instance, they state that they are actively nvolved in cryptocurrency trading but also claim to be earning through bitcoin mining as well. By featuring a wide range of investment assets, they are trying to lure in all type of investors.
Though they state that they are trading cryptocurrencies we are not told which parameters are considered by this firm before entering a trade. There isn’t a clue about the risk management techniques followed by this firm.
The mining capabilities are also not disclosed.
How can an investor trust this firm without knowing the answers to the basic questions about how the funds are utilized or allocated?
Will you trust a complete stranger to handle your hard earned money?
What Kind of Returns are advertised by CryptoFast.biz?
Financial gain is the main reason why every trader sits in front of the computer screens waiting for certain setups to occur and hope to profit from that. This platform offers ridiculous returns ranging from 200% to 500% per day, returns like these are impossible to deliver on a consistent basis and are outright lies.
The idea of making seemingly easy money is appealing but don’t get carried away, think logically if this platform could really generate these type of returns why would they give it to the public for free?
The 3 investment plans offered by this platform are
200% after 1 day
Ref. Commission – 5%
Minimum Deposit – $10
300% after 1 day
Ref. Commission – 5%
Minimum Deposit – $25,001
500% after 1 day
Ref. Commission – 5%
Minimum Deposit – $50,001
According to the profit calculator on this website, if you invest $1000, you will get $14,000 after 7 days. Sounds pretty unrealistic, right?
The main goal of the fraudulent firms like these is to earn as much as possible from registrations before they get shut down. In order to reach more people, they provide high incentives to anyone who promote their platform.
The affiliates are paid a percentage of deposits made by their referrals. Note that affiliates do not have to be an active investor in order to get their commissions.
Deposit and Withdrawal
The deposit and withdrawal methods supported by this platform are Bitcoin, Payeer and PerfectMoney.
The time taken for processing withdrawals is not stated anywhere on their website.
According to whois.com, this domain was registered on 26/04/2018 and it expires on 26/04/2019.
This website has a global rank of 141,108 and it ranks 40,944 in Brazil according to alexa.com.
The majority of the traffic coming to this website are from Brazil, United States, Iran, India and Myanmar.
Is CryptoFast.biz a Scam?
No doubts about that
The misleading information combined with the fact that they are an unregulated entity are some of the alarming signs of a scam which should not be ignored.
CryptoFast.biz Review Conclusion
CryptoFast.biz is one of the many scams which can be found all over the internet. Do not be gullible enough to trust any of their claims.