As the world of cryptocurrency gains popularity, so has the number of hackers and scammers increased. Many cryptocurrency investors who didn’t tread carefully have lost huge chunks of their hard-earned money to fraudsters. There are many sites only posing as legit businesses that help investors grow their money yet, in essence, they are out to swindle the gullible ones.
One such site is blockwedge.cc
What Is BlockWedge?
Block Wedge Ltd is a private limited company involved in financial activities related to Bitcoin trading and mining. The company claims to use a technique called cryptography to convert legible information into a code that cannot be cracked to help track purchases and transfers.
BlockWedge Bitcoin Trading & Mining Investment Red Flags
A quick scrutiny of the certificate availed on the site reveals that the company was incorporated on 12th January 2018. In short, the company has no filing history yet so you cannot gauge their authenticity or financial soundness.
As a cryptocurrency investor, you should be keen to invest in a company whose reliability and financial strength is verifiable. A new company whose background is not verified is a no-no.
BlockWedge Doesn't List The Team
There are only two people you can relate to Block Wedge the directors. The site brags of a team of professional market traders who are well versed in trading profitably in cryptocurrency in the world-renowned exchanges. However, these “professional team” remains anonymous. One would expect the company to proudly associate itself with the magnificent team and post their profiles to boost investor confidence. Instead, the employees remain confidential, if at all they exist.
BlockWedge Does Not Provide A White Paper
The site displays impressive ROI for all and sundry to see but how they arrived at these figures and percentages is a mystery. The only detail they divulge is that they make use of own developments, algorithms, and experimental base that allows them to optimize the costs associated with crypto trading.
Is that enough?
A serious and legit investment company will provide calculations, simulations or graphs that allow investors to verify their business model in order to make informed decisions.
BlockWedge Unrealistic Compensation Plans
Block Wedge promises to grow your investments daily for a lifetime as you sit back and do nothing, just earn. They even go ahead to break the figures down to 4% daily and 0.17% hourly to make it look lucrative. But is it realistic? The company does not even provide a verifiable business model for investors to analyze.
Splashing unverified figures on their site does not cut it.
BlockWedge Affiliate Links
Like all Ponzi schemes, Block Wedge offers a referral web that promises to pay commissions to investors who refer other clients to deposit money into the scheme. It offers a four-level referral web, which is more of a web of deceit, as you are expected to refer clients to an investment cycle that is not clear in the first place. What are you referring clients to anyway? The company has no business model or a means of earning income.
BlockWedge Final Verdict
With the glaring red flags typical of scam sites, don’t dare invest in this company.