Beware! Paygow is an offshore broker! Your investment may be at risk.
Paygow Key Features
🔴 Paygow services are questionable – a warning sign!
🔴 Paygow was reported as a scam – a red flag!
🔴 Paygow is not transparent – a red flag!
🔴 Paygow creates irrational expectations – a red flag!
Paygow Products and Services
There are many suspicious aspects of Paygow's business, but the most shocking one is the fact that it's almost identical to Barbizon! Indeed, both websites are 99% the same, so we won't be surprised if the same people operate both schemes.
Anyway, Paygow's services are utterly suspicious for two main reasons. The first one is the unthinkable mining interest rates presented – in particular, they claim that through Bitcoin mining, customers can make a guaranteed 1280% per year! It can't happen because Bitcoin mining is not so profitable – if it were possible to make 1000%+ per year, all BTCs would be already in circulation. On the other hand, no legit company can deliver almost 1300% per year regarding fixed-income, no matter the assets traded.
The second reason making Paygow utterly suspicious is the MLM scheme presented, in which customers can climb the ladder by enticing more and more people into the scheme. MLMs are not always bad, but usually, this type of marketing suggests a Ponzi, so make sure to remain cautious! Don't do this to your friends and family!
Cryptos went to become extremely popular, and they come with tremendous profit potential, but the assets are pretty complex and a bit enigmatic for the vast majority of people. Bitcoin is still surging, and the entire crypto market is growing exponentially, but all investments carry significant risks, such as high unpredictable volatility and absence of regulation, for example. And we'd also like to emphasize the fraud risk- crypto scams are virtually everywhere. In fact, the latest trend among scammers is to create fraudulent websites offering fictitious crypto investments and mining services aimed to entice unsuspicious investors into scam settings. The fraudulent offers usually stick to the rule “sounds too good to be true”, the entity offering the services is totally anonymous, and there is no regulation whatsoever. So, based on the products and services offered alone, we can affirm that the entity under review is dangerous. You'd better avoid it.
That said, it's worth considering trendy cryptocurrency alternatives that have already proven to be reliable. For example, many cryptocurrency exchanges like Coinbase and Bitstamp already provide passive income opportunities like BTC and ETH staking, other earning opportunities, affiliate programs, so on and so forth. Both mentioned are law-abiding financial firms that operate transparently, so you won't be exposed to fraud risks if you trust them.
Paygow Company and Regulation
Paygow is not regulated. We couldn't find legal entities associated with Paygow, which in this particular case, doesn't mean it's totally illegal. We suspect that it's a brand of an Asian company that's hard to be traced, but whatever the case, we can guarantee that Paygow has no license to offer investment or other financial services. That is to say: your funds will be at risk if you invest in Paygow!
Another thing we should note is the lack of transparency as Paygow doesn't provide any corporate information whatsoever. These guys apparently want to hide something from the public, and we can only guess what that it!
So, the crypto service under review isn't a typical firm, and as such, it's not regulated. The absence of regulation implies that your investments will be at risk if you deposit. Moreover, you won't have access to complaint procedures or money protection schemes, so if things go wrong, you'll be the one to suffer the complete loss. Even more so, the digital coin transactions are anonymous, so if you get scammed by a shady crypto provider, you can't get your money back.
Indeed, cryptocurrency regulation has been a hot topic for a long time. The digital coins themselves are not issued or governed by central banks, but too many countries already have plans to introduce centralized cryptocurrencies. Still, Bitcoin is a peer-to-peer payment system that's considered too risky for many. However, many crypto firms are now operating with financial licenses; they are transparent, and their clients can benefit from certain customer protection measures if things go wrong. And that doesn't apply to the entity under review, which is an anonymous and most probably totally illegal enterprise that can switch off its servers, pocket clients' money and get away with the crime.
Paygow Address and Contacts
Paygow shares no contact information either. Indeed, the scheme is totally anonymous, and we neither know who these people are nor where they actually operate from. The lack of transparency – how much a business is willing to share with the public, is always a red flag, so beware!
Considering investment opportunities, transparency is always crucial. As for cryptos, you already know that Bitcoin is a peer-to-peer payment system, which is designed to protect the privacy and to provide security. However, that doesn't mean that the crypto providers should also be anonymous. After all, these people will handle your money, so you should at least know who they are and where they operate from. In fact, we need to note that some trustworthy exchanges don't reveal such information on their websites, but it's still easy to verify that businesses are legal, law-abiding companies; therefore, it's always a worrying sign if the crypto provider isn't transparent.
Paygow.io Website Info
|Alexa Ranking||None at the time of writing|
|Server Country||Hong Kong|
|WHOIS Reg. Date||2021-01-02|
|Owner||Redacted for Privacy|
|Administrator||Redacted for Privacy|
Is Paygow Safe?
Paygow is not safe! It's anonymous and unlicensed, and on top of all that, the promises for almost 1300% per year are utterly suspicious. You'd better avoid it!
Scammers are always riding the trends, so it's not at the least surprising that cryptocurrency fraud is now blooming. Even more so, the high-tech nature of Bitcoin actually facilitates scams as most people don't really know how crypto works, so scammers take advantage of the lack of understanding. Indeed, the crypto scam has been here for a while, and it proved to be extremely dangerous- just recall OneCoin, which happened to be a multi-billion Ponzi scheme disguised as a revolutionary digital currency. However, scammers rarely go out of their comfort zone, so most crypto scams happen to be very similar to the typical investment fraud.
The fraudulent crypto schemes are also anonymous and illegal, while scammers introduce themselves with fake identities. There are also too many impersonators resembling the websites of valid start-up companies from where customers get redirected to other insecure fishy payment portals that may as well carry additional security risks. The cons yet again promise the moon and the stars to their victims but won't deliver a thing in the end. However, the difference between crypto and the rest of the investment scams is that people are more likely to believe that they can become rich overnight as Bitcoin has already proved to have massive profit potential. In any case, you should be very cautious when it comes to crypto, as the markets are plagued by scammers ready to take advantage of you.