Caution! Truexcoin is an offshore company! Your funds may be at risk.
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Truexcoin Key Features
🔴 Truexcoin’s services are questionable – a warning sign!
🔴 Truexcoin isn’t licensed – a red flag!
🔴 Truexcoin isn’t transparent – a red flag!
🔴 Truexcoin creates unrealistic expectations – a red flag!
Truexcoin Products and Services
According to Truexcoin’s website, there is no other worldwide financial company that can guarantee a daily ability to generate constant profit with the large price swings of BitCoin and other cryptocurrencies. Bold claims, but in reality, Truexcoin is just an HYIP programme that’s potentially fraudulent. We claim so because the investment opportunities presented are highly unrealistic – customers are promised to earn up to 100% per month (or per day; it’s not clear enough), which is a rate impossible to deliver. HYIPs are risky, and you should avoid Truexcoin!
HYIPs are unregulated investment schemes offering questionable opportunities, to put it mildly. The promised ROI (Return in Investment) is just too good to consider trustworthy- at times, customers are reassured that they can make 100% or more per day, which can’t happen in any possible way. To put it into perspective, even the largest investment funds can’t secure more than 10% per year, let alone per day or week. So, given the products and services offered, we can decisively say that the service reviewed is highly suspicious and most likely fraudulent.
With that being said, you’d better stay away and have a look at other reliable opportunities, such as Forex brokers PAMM managed accounts, social trading platforms or regulated crypto providers. For example, many crypto exchanges are presently offering BTC and ETH staking that can bring a decent passive income on reduced investment risk. But in any case, make sure to trust your money to transparent and adequately regulated financial companies because markets are currently plagued by anonymous investment schemes, most of which are pure scams.
Truexcoin Company and Regulation
Truexcoin is a brand of Truexcoin LTD, and that’s true. The problem is that Truexcoin LTD is a fictitious company existing only in the mind of the people who created the HYIP under review. And to make things worse, Truexcoin displays a fake certificate while trying to legitimise itself. The number 8391402 is fake, and the company isn’t registered anywhere! The fake certificate is strong evidence of a scam, and we can also further confirm that the investment service promoted is unregulated and risky!
The lack of regulation implies that the people operating the scheme are not supervised while working, meaning that clients’ money will always be exposed to risks. To put things into perspective, duly licensed and adequately regulated financial firms are forced by the authorities to comply with many standards designed to guarantee customers’ safety. For instance, to obtain a license, a company must meet minimum capital requirements that vary by country and depend on product specification or other factors. The condition is set to guarantee that firms should have enough money at their disposal to survive unforeseen events, remain stable and continue operations, inflicting no harm to customers.
The US minimum capital requirement is 20 million USD, which is actually one of the biggest among all. In addition, US financial firms should also keep customers’ accounts segregated, ensuring that deposits won’t be misused or misappropriated. However, we should note that the US regulatory framework is quite complex as there isn’t a single financial authority, but many. The list includes NFA, CFTC and SEC, to name a few, and each of the mentioned control companies in one way or another. Additionally, each state usually has its own independent authority, making the US market significantly more complex than others. Regardless, the scheme reviewed isn’t regulated by any authority anywhere in the world, so make sure to avoid it as it may as well be a pure scam.
Truexcoin Address and Contacts
|Address:||59 Fitzhamon Embankment Cardiff – false|
|Phone number:||+1 (805) 464-6206|
Truexcoin’s address is false – there is only a hostel there, with no other companies registered! The phone number also happens to be fake, so a major red flag appears because of the misleading information and the actual lack of transparency!
Transparency is essential when it comes to investing because you should always know who is making the investment in your name and where your money really is. Legit businesses always operate transparently and are required by law to provide the public with their basic corporate information – addresses, phone numbers, e-mails, legal documentation outlining service provisions and so forth. It’s very likely that you are dealing with scammers if you cannot independently verify the contact information given, and it’s even a more treacherous sign if you come across an entity that doesn’t even provide these crucial details!
Truexcoin.com Website Info
|SimilarWeb Ranking||None at the time of writing|
|WHOIS Reg. Date||2021-06-20|
|Owner||Redacted for Privacy|
|Administrator||Redacted for Privacy|
The domain analysis revealed that the United States IP 126.96.36.199 was hosting 995 websites at the time, some of which were fishy trading and investment schemes. Due to the large number, we can’t prove there is a linkage among the schemes, but you should be warned anyway. Below, you can see the ones we already reviewed:
Is Truexcoin Safe?
Truexcoin is not safe! It waves too many red flags, and we firmly believe it’s a scam. The investment scheme is anonymous, illegal and unregulated, and on top of all that, the website is full of false information! You’d better stay away!
For various reasons, depositing with HYIPs and other unregulated investment schemes is highly not recommended. Above all, the lack of regulation strongly suggests a scam, as only regulated firms can offer investment services to the public. As you might expect, scams cannot thrive in a robust regulatory environment, where numerous customer protection rules are imposed, all of which are designed to make markets safer by actively preventing fraud.
Authorisation by regulators is only granted if the firm meets the standards governing how the entities should treat you as a customer and what kind of information they should provide. Each country’s regulator keeps a register of licensed firms and the products and services each licensee is permitted to offer. Unauthorised firms, on the other hand, seek to avoid the controls that legal, authorised entities are subject to, thus leaving investors unprotected. Scammers, of course, want customers to be completely unprotected, which significantly facilitates fraud, and that’s why they always work without a license.
The HYIPs, in particular, are usually operated as a Ponzi because many investors can withdraw initially, but sooner or later, the service will inevitably close. HYIPs usually target traders and investors with little or no experience by promising fictitious investment opportunities, allegedly delivering unrealistically lucrative gains. 10% or 100% per day certainly isn’t a legit offer – that’s a scam, and you’d better stay far away from entities promising get-rich-quick schemes.
Truexcoin take my money 6500 usd. And I need to recover. Please I need help.
Mary Luz Noreña
Hola Soy Mary Luz de Colombia,
Hace poco invertí 500 usd con una trading (Belia Cardoso) en esta plataforma y a la hora de retirar mis ganancias me dice que debo hacer un deposito de 568 usd , ya que obtuve una ganancia de usd 1567, ellos dicen que es la comisión comercial que es un deposito único para poder transferir mis ganancias a mi billetera , la verdad desconfió y no he realizado dicho pago, soy una mujer de posos recursos y apenas estoy iniciando en este mundo, quisiera su ayuda porfavor para recuperar lo invertido, agradezco de antemano su respuesta
Hi, I’m Mary Luz from Colombia,
I recently invested 500 usd with a trading (Belia Cardoso) on this platform and when I withdraw my profits it tells me that I must make a deposit of 568 usd, since I obtained a profit of usd 1567, they say that it is the commercial commission that It is a single deposit to be able to transfer my earnings to my wallet, the truth is that I was suspicious and I have not made said payment, I am a woman with few resources and I am just starting out in this world, I would like your help please to recover what I invested, I thank you in advance for your response
I was also scammed by truerxcoin please be careful of the person known as Claire Leonard the real scammer
Tengo invertido $1200 en esa página y al querer retirarlo nunca me llega el abono ami wallet y ya la página desaparecido
I have invested $1,200 on that page and when I want to withdraw it, the payment never arrives to my wallet and the page has already disappeared.