Crypto bots are trending big nowadays. Every crypto trader is looking for a profitable crypto bot that can generate income without demanding too much time and effort.
However, many traders are ending up in the hands of scammers who have identified the urge for traders to get free cryptocurrencies and so, created fake platforms designed to steal from unsuspecting people. If you search for crypto bots on the internet, you will find very many suggestions including Crypto Gold. But you should go an extra mile to cross-check the platform before depositing any money with it. Here, we provide a review on Crypto Gold, in the hope of providing you with an in-depth understanding of the product before even investing a cent.
After some research, we were able to find out that Crypto gold is just Multi-level marketing (MLM) platform that is recruiting traders as its affiliate members. But from their official website, the platform advertises itself as a crypto mining platform.
The platform claims that it will generate Bitcoin and Ethereum freely for its members. But we found this claim absurd, and it didn't take us long in testing for our suspicions to be verified.
It seems that behind this mining-oriented crypto coin robot is a company called "CryptoGold Limited" based in Dubai. However, we could not find any further information about their reputation and we recommend extreme caution when dealing with them.
It is a very positive marketing strategy, when a company offers transparency with respect to its core team members. So why would any business be reluctant to do so? In our experience, this is to avoid accountability for bad practices and the consequences experienced by unsuspecting investors.
As an MLM, the only business that Crypto Gold is concerned with at the moment is recruiting as many members as it can. Immediately after a new member registers, they are required to deposit $50, $100 or $500 in order to receive commissions from the mining of cryptocurrencies.
The minimum deposit is very enticing and any some would feel it was worth parting with $50 due to the profit made from mining BTC. Therefore, we fear that many traders have already fallen prey to what appears to be a cleverly constructed scam.
Also, if you direct your attention to the official website of Crypto Gold, you will soon realize that there is a lack of transparency. You need to know how safe your funds will be, but sadly, there is no concrete information on who owns the Crypto Gold platform nor where the company is located. We had to spend quite a bit of time and energy to track the company to Dubai. However, we could not ascertain any regulatory status for them whatsoever. This means that they can do with your money what they will.
We would recommend other, authentic cryptocurrency robots that provide excellent service and very real opportunities for profitable trades.
Research shows that you will need a membership fee of seventy nine dollars to be allowed to register with Crypto gold. After registering, you are requested to invest further; at least $50 so as to be entitled to any commission from the platform.
These fees go up to $500, which is ridiculously high. This is supposed to guarantee you a share of profits from BTC mining, however there is no information given to the size of the mining pool used, or if there even is one.
There are very many indications that suggest this platform as a scam, we recommend looking for a better alternative of a crypto bot that is reputable and received positive, verifiable reviews.
Instead of investing in a platform like Crypto gold, which definitely looks like a scam from the word go, it would be worth investing with a profitable platform like Cryptosoft.
Cryptosoft has been tested and proved to be a genuine cryptocurrency trading robot and it could give better returns.
Whilst we would advise you staying away from this robot, check out our favourite robot or choose from other alternative robots below.