iCoin Market Review: Is iCoinmarket.com SCAM?
The iCoin Market website is the hype and buzz of the internet with regards to crypto-currency investments.
We see people pitching it left, right and center, which suggests that it’s currently the hottest thing out there.
We have also noticed it being promoted on social media, which begs the question of whether or not it’s genuine.
So, is this business legitimate? Do we expect iCoin market to deliver what it has promised on the official site?
We’ve got all facts on our fingertips regarding the iCoin market business.
We also want to make it clear that we are not promoting this product whatsoever because the business model is already flawed.
iCoin Market Overview
What the heck is this all about?
Getting proper information about this website is very difficult because the website or the owner of that site doesn’t want to dish out sufficient information regarding all things related to the iCoin Market scam business.
You can keep scouring this website as much as you like.
However, rest assured that you will never find any information pertaining to the owner of the website, the location of the business and the people who run it on a daily basis.
The iCoin Market website seems to be based on the idea of Bitcoin trading as is evident by its name and the mention of trading crypto-currency.
The business also claims to have experienced portfolio managers who trade crypto-currency to make you up to 300% return on investment.
Basically, the content is very shallow and not useful to someone who is actively looking for an opportunity to invest, either in trading currency pairs, commodity futures, indices or crypto-currencies.
And then there is also talks on funding new crypto-currency projects.
The website talks of a concept known as ICO or Initial Investment Offering.
So if we put together the hints given to us by this website, we figure that this is some sort of an automated platform where private investors can put their money and wait for it to return a profit of 300% of the initial capital invested.
Also, the website claims that investment in crypto-currency will soon close after the first 30 days of launching.
In other words, iCoin Market is saying that they won’t be accepting new members once the opportunity closes down 30 days after its launch.
We are yet to see if that will happen. But most likely, this website will remain active for an unknown length of time since this could be a marketing gimmick as opposed to a genuine alert.
Nevertheless, we conducted a background check on the domain icoinmarket.com and discovered that it was registered in 2013.
And then it was updated a couple of times up until May 8, 2017 — which is the likely date that the new owner took over this business.
While carrying out further investigations, we also realized that iCoin Market website was using a Hong Kong physical address.
This is the same address that was used on a web page that hosted Click Intensity.
For those who don’t know, Click Intensity is a ponzi scheme that opened shop last year.
And we were able to track down its owner who is called Mr. Nick Johnson by the way.
After going through his personal Facebook page, it became clear that this man is also the owner of iCoin Market — no doubts about this.
However, during the early days of Click Intensity, details of its owner remained scanty and far in between. This led to the suspicion that the name Nick Johnson was a fake name.
The good news is that this man has since remained very active on social media where he spends most of his time promoting similar investment programs and scams which he is a part of.
Today, we have Johnson’s latest line-up of schemes — dubbed the iCoin market.
What products does iCoin Market offer or deal in?
They claim to be offering an opportunity where investors can profit from crypto-currency trading.
This profit is supposed to come as a result of the investors leaving matters in the hands of their ”expert traders” to do the magic.
But in the real sense, there is no product or service to invest in here.
If you join iCoin Market, you will pay some money and also have other recruits under you do the same.
This is the same thing we see with MLM schemes. One can’t help but wonder whether iCoin Market is a real investment opportunity or an MLM business.
The mention of experienced Porfolio Managers
This business claims to have 3 different types of portfolio managers who use aggressive, medium and long term investment approaches respectively.
What surprises us is the fact that these portfolio managers don’t have any profile on the internet. They are simply anonymous people masquerading as portfolio managers.
Their names are described using a prefix Mr. without any other real name after that.
The iCoin website goes ahead to state that these portfolio managers use a method of investment that is fail-safe and that they will yield a profit of 300% on your capital if you take a chance on them with your money.
The iCoin Market only claims that their portfolio managers have a solid track record. But no evidence is given to prove that this is the case.
And then this site goes ahead to publish statistics on Bitcoin growth and investments. While these statistics are valid, they don’t serve any use as far as evaluating the authenticity of iCoin Market is concerned.
An illegal service is an illegal business
iCoin market offers an investment service which requires a license to run.
However, the mention of licensing is not stated anywhere on the website, which makes us doubt their credibility.
Why would they break the law if this was a genuine business with genuine track record?
It is simply an illegal business in countries that have some sort of financial regulations.
Also, the allegations that iCoin Market is based in Hong Kong is just talk. Do you have evidence or proof that iCoin Market is based in this part of the world?
No one should send money to a strange company in the name of investing in bitcoin.
An iCoin market scam
In the next few days, you will hear or even read reviews pointing the fact that iCoin Market is a scam.
We are not against these reviews because facts tend to lean on the negative side of this business.
However, we also have to realize that iCoin Market is not really a proper scam.
Despite our stand on this, there are still a few things that you have to be aware of. The first thing is that you can’t send money or invest on a product whose track record or reputation isn’t clear.
Secondly, this man Nick has been associated with scams before. It would be extremely dangerous to put your money on his hands in the name of investing on iCoin Market investment opportunity.