Icoventure.shop is a cryptocurrency investment solution which claims to provide significant returns to the investors on complete autopilot.
As times change the scammers also have improved upon their shady marketing tricks and nowadays it is difficult to recognise fake investments because of all the convincing stories and attention to details put up on their platform.
This firm advertises returns of up to 10.4% hourly which might appear achievable to the newbie investors in the crypto market but rest assured they all are just fake claims. While we went through their platform, there was nothing but highly misleading information along with narrations which does not make much sense.
If you are wondering whether you should invest your money with this firm or not, read our unbiased review to find out why you should never give these criminals a chance to run away at your expense.
Company and Contact Details
Any firm which provides investment advice or financial services have to be regulated in order to operate lawfully.
Icoventure.shop is an ICO which uses funds raised from the general public for investing purposes and in return depending upon the contract terms provides them with a fixed predetermined amount of money. While we were checking their licenses and trying to figure out if they were authorised, we couldn’t find any certificates they must legally possess.
We have confirmed through FCA this firm has never been licensed which means they are literally filling their pockets with investors fund.
These fraudsters have featured a registration certificate on their website which is just an attempt to look trustworthy in front of the potential investors. They have no right to raise money from the public.
Here are the contact details of this firm:
Address – 1a Central Avenue, Hucknall, Nottingham, United Kingdom, NG15 7HF.
Email – firstname.lastname@example.org
Contact number – +441387434343
How does Icoventure.shop Work?
This company is said to be founded by a group of veteran quant traders and portfolio managers. These so called experts are providing an opportunity for the everyday people to navigate and profit from the volatile cryptocurrency markets without having to do literally anything other than depositing.
They state that their investments are based on machine learning system that collects and interprets market trend and sentiment in real time. Along with the above explanation they also claims to have a diversified portfolio which apparently helps them to earn stable returns.
This narration does not make much sense. We still have no idea about how they work? We do not know what parameters or factors are considered by them before executing a trade. The lack of clarity on this platform is beyond acceptable.
ICO’s and cryptocurrencies are the latest boom in the financial markets. The bitcoin and other altcoins are currently the most debatable topic, while it has made many early investors rich many people still don’t know much about them.
The volatility present in these assets are huge but that does not necessarily mean that you can make money. Unless you know what you are doing and have a back tested strategy, the chances of making money is very low.
These crooks advertises 3 investment plans which offers different types of returns. Here are the complete details:
Returns – 1.48% Hourly
Duration – 72 Hours
Min. Deposit – $5
Returns – 2.6% Hourly
Duration – 48 Hours
Min. Deposit – $100
Returns – 10.4% Hourly
Duration – 24 Hours
Min. Deposit – $500
According to whois.com this domain was registered on 27/06/2018 and it expires on 27/06/2019.
This website has a global rank of 1,480,506 and it ranks 15,163 in Singapore according to alexa.com.
Majority of the traffic coming to this website are from Singapore, India, Bangladesh, Ukraine and Russia.
The sole purpose of ponzi scheme like this platform is to maximize their earning by finding enough innocent victims. To reach more people swiftly they offer huge incentives to any individuals who refer people on to their platform.
The affiliates promoting this service are also given access to some promotional and marketing tools in order to help effective optimization of their campaigns. It is not compulsory for the affiliates to have an active deposit in order to collect their commissions.
Deposits and Withdrawals
The minimum spend is $5 and the minimum withdrawal amount is $0.1. The e-currencies accepted by this platform are PerfectMoney, Payeer and Bitcoin.
We do not know if transaction fees are applicable on withdrawals. They state that the withdrawals are processed within 1 business hours.
Is Icoventure.shop a Scam?
Their platform consists of lies and fake claims. They give wrong impression of being profitable while in reality they have nothing to do with trading. These faceless criminal are just trying to sound genuine by featuring a few technical words and are exploiting the lack of knowledge of new crypto enthusiasts.
Icoventure.shop Review Conclusion
Icoventure.shop is a total fraud who will eventually lose your funds or run away at your expense. Do not believe any of the outrageous claims sprinkled across this platform and more importantly have realistic expectations from trading.