Chain Group, found online at Chain.group, is a cryptocurrency investment scheme that claims to help you “earn money every day.” Find out if it’s a scam or a legitimate opportunity in our review.
What Is Chain Group?
Chain Group is a cryptocurrency investment scheme that promises to help anyone – regardless of their experience – make money from cryptocurrency trading.
The company lets you open an account, select a “Trade Group” to invest in, make a deposit to the Trade Group, then begin earning money every day.
The company also refers to itself as Chain Group Escrow Service, although it’s not totally clear how they’re an escrow company.
In any case, Chain Group has just one investment opportunity. That investment plan claims to pay a guaranteed daily interest rate of 0.2%, which works out to nearly triple digit gains per year.
Obviously, when someone advertises guaranteed 100%+ investment returns online, it’s a big red flag – especially when you’re dealing with cryptocurrencies. Let’s take a closer look at how Chain Group makes money to see if it’s a legitimate opportunity or not.
How Does Chain Group Make Money?
Chain Group claims to pay you 0.2% per day, guaranteed, over a 500 day period. The company has just one investment plan to buy into. The plan has a minimum deposit amount of $10, and a maximum deposit of $1 million. Compounding interest is available.
How does Chain Group provide such a high ROI? How can Chain Group guarantee that high ROI? The company claims to use investments to invest in the following services:
- “Improvement of the technical complex of the service” (whatever that means)
- “Creating professional multimedia materials”
- Advertising the platform on AdWords and other platforms
- Advertising the service offline
- Conducting market research to further the advertising campaign
Ultimately, Chain Group doesn’t actually claim to invest in any type of currencies, funds, or investment opportunities. Instead, the company appears to be putting money towards advertising.
That tells us that Chain Group doesn’t plan to make money through investments at all: instead, the company is exclusively focused on generating income through new membership fees. By recruiting new members to the platform, the existing members can make money.
When a company doesn’t sell any type of product or service, but exclusively sells memberships, that typically means it’s a pyramid scheme.
Chain Group Pricing
Chain Group has just one investment plan. You can invest in that plan for $10 to $1 million.
As mentioned above, you’re not investing in any type of “fund” or interest-generating investment. Instead, you’re exclusively investing in advertising to promote the platform and recruit new members.
Furthermore, Chain Group will take additional fees from your investment. You’ll be charged 0.5% of each internal transfer between investors, for example, and 0.5% when you withdraw money. You’ll also be charged a 2.5% fee on deposits.
Chain Group accepts payments via bitcoin as well as money transfer services like Advcash, Exmo, Perfect Money, and Payeer.
Who’s Behind Chain Group?
Chain Group, like most shady cryptocurrency investment companies, refuses to tell us any information about its management team, its location, or its experience in cryptocurrencies.
The company claims that its logo and website were designed by Adam Lu. Aside from that basic information, however, the company doesn’t mention anything about itself.
When a company asks you to send money, but refuses to tell you any information about itself, that’s an enormous red flag.
The only piece of contact information we have for Chain Group is a phone number: +1 202 600 82 48. A quick Google Search for that phone number shows that it’s been linked to a number of investment scams in the past – particularly high yield investment program (HYIP) scams. The number is linked to SecureInvestment.net and GIANT Investment, for example, both of which were scams that advertised themselves as a way to get rich quick.
The Chain.group domain was registered in November 2016 to an anonymous individual. It was updated with the latest cryptocurrency scam in July 2017.
Chain Group Conclusion
Chain Group is yet another blatant cryptocurrency investment scam. The company promises to pay you an enormous return on investment with no work, skills, experience, or risk required.
The company doesn’t even pretend to invest in any type of cryptocurrency funds or investment activities: they claim the money will be put exclusively towards advertising the platform. The only “income” in the investment comes from new memberships and affiliate commissions – which makes Chain Group a pyramid scheme.
If these problems didn’t convince you, then consider the fact that the phone number associated with Chain Group has been linked to similar investment schemes, Ponzi schemes, and HYIP scams in the past. For all of these reasons, Chain Group is one investment scam you should absolutely avoid.