About Galaxy Hash
There has been a sudden surge in financial fraud over the years, and the cryptocurrency craze has aggravated the situation. Unscrupulous businesses are posing as legit companies and sites and swindling unknowing investors of their coins.
Galaxy Hash Ltd is one such company.
Galaxy Hash is a cloud mining company operating in the cryptocurrency industry offering a wide range of services including crypto and forex trading, pumping with the use of bots and ICO investing. The company prides itself on working with people around the world with the current participation of people from over 30 countries.
Is The Galaxy Hash Ltd Legit?
Here are questions you should ask yourself to determine whether Galaxy Hash is a scam or not.
Do They Have A Whitepaper?
Any serious and legitimate investment company should provide its investors with a whitepaper giving details of the investment activities they engage in, the returns expected and the calculations and simulations showing how they arrive at those returns. A quick scan of the Galaxy Hash site yields no whitepaper and this is the first red flag.
Who Is On the Team?
A company that boasts of presence and participation in over 30 countries must have a strong team behind it. However, the only thing displayed on this website is a certificate of registration that cannot be verified and no team to support the company. Strong team profiles would boost investor confidence yet in this case, the employees remain anonymous.
Are the Returns realistic?
The company offers 3 investment plans– the starter plan at 3.5%, the pro plan at 5% and the business plan at 6.2%. The returns appear impressive but since there is no proper explanation as to how the company arrives at the ROIs, the figures remain just that, figures.
What About the Affiliate Commissions?
To spread the web of deceit, the company offers commissions as high as 9% on each referral who invests in the company, typical of Ponzi scams.
Final Thoughts On Galaxy Hash
The company has glaring red flags. Invest at your own risk.