Verticoins Review: Don’t Invest With this Scam!

Verticoins Review: Don’t Invest With this Scam!

Verticoins
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Summary

Verticoins is neither regulated nor reputable and yet it pretends to be a genuine exchange and wallet. Keep off this scam. If you want to trade Crypto currencies, invest in any of these solutions. 

Verticoins is a platform for mining and Trading Crypto currencies. In their promotion material, they claim that verticoins.com was founded in June 2012, but who.is says the domain was created in May 2018. It is clear that Verticoins is lying about the date of launching their platform.

Verticoins provides a Crypto currency wallet and mining facilities. After you have purchased a mining rig from them, the website wants you to order hosting from them which will cost a nominal fee of $199 every month.

On top of this, they are also providing a Crypto trading software for all accounts which can be activated to automatically place, modify and close trades where necessary.

The platform actually operates as a Brokerage for Crypto currency trading, although this is not explicitly stated. The reason is that Verticoins wants to avoid regulatory handles that come with running a fully fledged and professional Crypto currency brokerage.

However, what you might not know is that Verticoins is a scam. If you want to trade Crypto currencies, you can find reliable trading bots that execute trades more efficiently with a high win rate. 

Verticoins Review – more about this website

The Crypto brokerage provides a wallet and a Crypto exchange service as well.

If you want to exchange Bitcoin for Ethereum, the site claims that you can just send them the amount of Bitcoin you want to be exchanged into Ethereum and you will quickly receive Ethereum in your wallet.

Verticoins

The issue with Verticoins is that we can’t trust them at all. There is a possibility of losing your Bitcoin if you actually follow this advice.

They also claim to offer mining rigs maintenance services which costs a whopping $199 every month. Not only does this sound weird, but the fact remains that paying an extra $199 per month to mine Crypto currencies is something that doesn’t make any sense.

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Why trusting Verticoins will make you lose your money

They are based in London, and are providing the phone number 44 2035145590.

The website does not disclose whether or not they have a company that governs their activities. Actually, I was not able to establish whether any legit company is associated with the entity Verticoins. So I am assuming that Verticoins operates on its own accord.

Secondly, I stated earlier at the start of this review that this site was lying about its launch date. It has only existed for a few months. The reason they are lying is that they want to sound more established and reliable, hence credible.

Thirdly, there are no people associated with this site. Apart from the domain being registered privately, the site does not introduce its directors or people who are in charge of its activities.

It is highly unlikely that a mysterious Crypto investment site like Verticoins will actually return your money when you send it to them.

Instead of providing us with photos of their directors or top leadership, the scam gives us stock photos which have been randomly fetched on the internet.

This is a red flag which you shouldn’t ignore. I have seen this kind of thing with scams like Kryptonex Research Group, Lifestyle Galaxy and many other scams.

Also, unlike many other scams operating in this space, Verticoins does not provide a chat feature on their site. You can only rely on email or telephone communications, which don’t guarantee that you will get a response.

Verticoins review – things you must remember

There is no way a site that lies about its launch date can be trusted with money.

A brokerage that does not talk about the company behind its operations and members who drive their day to day operation is a scam.

That aside, there is no way you can trust a brokerage or Crypto exchange that is unregulated and yet providing a financial service that is regulated.

It’s definitely fishy. If you want to lose your money fast, go to this exchange and send them your funds.

Conclusion

Verticoins is actually a bogus website. You must learn to identify those red flags using the clues that this site is leaving behind.

If they are serious, it is actually their job to make us believe them, and one of the ways to ensure that they can build their image is to put in place things that will create trust between them and their potential clients.

Otherwise, I don’t see how I can send my money to an anonymous entity holding a Bitcoin wallet on the other side of the web. It’s foolish.

About Post Author

Warren

Warren is a swing trader and an investment blogger. He mentors students who want to learn to trade Forex, manages investors accounts and also writes reviews about trading products.