GrabCrypto.biz is an ICO which is supposedly involved in trading and mining cryptocurrencies. The funds taken in by this firm is said to be handled by self proclaimed successful traders who apparently have enough knowledge to profit consistently.
They advertise returns of up to 1400% after just 15 days but unfortunately in reality it is not going to unfold. All the profit claims are obviously fake and fabricated which is intentionally done to lure in innocent people.
This platform is relatively new in this sector and we strongly believe that they won’t be around for long. To know how these fraudsters are scamming a lot of investors and find all the real motives behind their corporation go through our complete review.
Company and Support
Every firm which handles investors money should be registered and licensed by the local authorities failing which they will be put behind bars. GrabCrypto.biz represents an ICO in which the money required for trading and mining selected cryptocurrencies are raised from a group of private investors.
The investors are entitled to get some profits along with their initial investment after the days specified by their contract ends. Legitimacy is a major concern for us, when we tried to determine if this firm indeed had any licenses to carry on these type of activities we couldn’t find any certificates which gives them the authorization.
Though this firm claims to be operating from the UK, we could not find any information about them on FCA which proves that they are a scam. They claim to be a registered company but do not believe any of their lies. Here are the contact details put up by them:
Address – 10 Roxwell House Valley Hill, Loughton, IG10 3AY.
Email – firstname.lastname@example.org
Phone – +441632960738
How does GrabCrypto.biz Work?
This firm claims to be generating revenue from Bitcoin mining and cryptocurrency trading but fails to provide any narration. Mining is a lot competitive these days and unless you have a significant start up capital the returns will not interest you.
They have failed to state the specification of their machinery nd the location of their data centres are not disclosed. As far as trading is considered apart from the fact that professionals will be handling the funds there is no further information put forth by them. Trading cryptocurrencies has its own set of challenges and is certainly not easy to consistently profit from trading it.
They have even failed to reveal their trading strategy, risk profiling methods and money management techniques which clearly means that they are not at all involved in trading.
This platform offers 3 investment plans wherein the profit percentage ranges from 20% to 1400%. At this rate anyone can easily become a billionaire within a year or in matter of months but it is highly unlikely to happen. Below are the details about the plans they offer, doesn’t it sound like a dream?
Returns – 20% Hourly
Duration – 12 Hours
Returns – 300%
Duration – 4 Days
Returns – 1400%
Duration – 15 Days
The amount of money these fraudsters make directly depends up on the number of participants so they set up the partner program is such a way that it benefits them and their promoters. Any individual who are willing to work for this firm gets paid attractive incentives for their efforts.
The affiliates get 5% of the cumulative deposits made by their referrals. To keep the marketers motivated the scammers also offers bonus for those who provide them with consistent stream of traffic.
Also keep in mind that the promoters are not required to be an active investor of the scheme so basically they are telling you to invest into something which they are not a part of.
Here are the details of this website we gathered from Whois.com and Alexa.com.
Domain – GrabCrypto.biz
Registration Date – 19/07/2018
Expiration Date – 19/07/2019
Alexa Traffic Rank – 1,930,446
The registrant contact details are untraceable.
Is GrabCrypto.biz a Scam?
An obvious scam,
They do not have any credible proof to support their bold and outrageous claims. The information put up by them are a pile of utter crap. The identity of the creators and the team members is not put up because they do not have one. These criminals are just filling their pockets in the name of cryptos.
If they were in fact a real organisation who have high ethical standard then why are they hesitating to provide the investors with a demo account so that everyone can see the effectiveness of their trading system? It is because they have nothing.
GrabCrypto.biz is a ponzi scam which may or may not pay their investors. They are relatively new as of writing this review and the chances are they will be gone very soon as their operational model is unsustainable.
Do not get caught up by their empty promises because if you do then you will get hurt financially. Always deal with firms which are licensed because it is always safer compared to dealing with fake platforms like this one.
Have you lost money to GrabCrypto.biz? Feel free to share your opinion by leaving us a comment.