CashlessPay Group Singapore Coin: Be Careful of This Fraud

    What Is CashlessPay Group Singapore Coin?

    The CashlessPay Group has been promoting the coin, saying that the Government of Singapore made a decision to implement a national digital currency, which is the Singapore Coin.

    At the time of writing, the SG-Coin is valued at 0.0026 Euros. The value is expected to rise to thousands of dollars, which means that even with just a small investment, holders of this coin are poised to be overnight millionaires. But the circumstances surrounding the coin leave more questions than answers.

    Out To Steal Your Money

    The SG-Coin promoted by the CashlessPay Group is simply a project out to steal money from unsuspecting investors. There is nothing good about it.

    To begin with, the coin is fake. Neither Singapore nor any other country in the world has plans to have a national digital currency to replace the fiat currency already in place. Secondly, SG-Coin is non-existent. What CashlessPay is talking about is utter nonsense. The designation BCN used for the coin refers to ByteCoin, which has no association with SG-Coin.

    Fake Reviews

    In addition, all reviews displayed on CashlessPay website purporting to endorse the SG-Coin are all fake. The quotes are supposedly from prominent people in the crypto space. However, the truth is that these people never spoke about the coin. Besides, the coin never appeared anywhere in the media as indicated on the website, something totally fake.

    How CashlessPay Group Singapore Coin Works

    Once you sign up as an investor, the team behind the scam creates a trading account on your behalf using an unregulated broker such as Tradewell. You are then asked to deposit money to that account through the broker. At that point, you’ll think that you’re buying a digital currency from Singapore. Once you submit the money, the process is over. You will only realize later that the said coin never exists—it’s not available for trading and the broker will never let you withdraw anything. In essence, your money is lost.

    CashlessPay Group Singapore Coin Conclusion

    The crypto space has its share of challenges, one of which is fake coins like the SG-Coin. There is nothing like Singapore’s national cryptocurrency. For a genuine crypto trading account, it’s advisable to involve a regulated broker.

    This review reveals that the SG-Coin, popularly known as Singapore Coin, is a scam.

    Get Free Email Updates!

    *Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

    I will never give away, trade or sell your email address. You can unsubscribe at any time.

    Bitcoin Exchange Guide News Team
    B.E.G. Editorial Team is a gracious group of giving cryptocurrency advocates and blockchain believers who want to ensure we do our part in spreading digital currency awareness and adoption. We are a team of over forty individuals all working as a collective whole to produce around the clock daily news, reviews and insights regarding all major coin updates, token announcements and new releases. Make sure to read our editorial policies and follow us on Twitter, Join us in Telegram. Stay tuned. #bitcoin

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


    Please enter your comment!
    Please enter your name here


    Live Bitcoin Price & Latest BTC Charts

    Today's Latest Crypto News

    Cash is King in Coronavirus Ravaged Economy But Bitcoin is “Next in Line to the Throne”: Hedge Fund Manager

    Mark Yusko, the CEO at Morgan Creek Capital Management says coronavirus is unleashing a once in a lifetime downturn. Yusko appeared on CNBC’s “Trading Nation”...

    Bitcoin’s is Gold 2.0; Billionaire Chamath Palihapitiya Lays Out BTC’s Path Forward in Macro Backdrop

    In the latest episode of The Pomp Podcast, host Anthony "Pomp" Pompliano had Chamath Palihapitiya, the CEO of Social Capital as a guest who...

    Binance ‘Leak' Signals Possible Bitcoin Options Trading Launch On The Exchange

    The competition across cryptocurrency exchanges in the crypto derivatives markets is heating up to a boiling point as yet another big player hints at...

    BTC Isn’t a Hedge Against Stock Market’s Poor Returns or Coronavirus But US Dollar & Inflation: BitGo CEO

    In 2020, Bitcoin has been following stock markets religiously, so much so that their correlation went to a new high. But now, the flagship...

    Netflix's ‘Tiger King' Villian, Carole Baskin at The Big Cat Rescue Accepts Crypto Donations

    With the Coronavirus (COVID-19) running rampant in the United States, Americans are drooling over the hot new docuseries on Netflix; “Tiger King: Murder, Mayhem...

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.