Cryptocurrencies are all the rage right now and it seems every time you turn around there is another opportunity online. Out of all these new companies springing up to mine Bitcoins and other digital currencies is there one that outshines the others?
As of this posting, iCoin Market is still in the ‘pre-launch' stage. However, the site suggests that iCoin Market will bring the highest profits to its investors. That means that right now would be the time to jump on the bandwagon and strike while the iron is hot.
What Is Icoin Market?
According to Who.is, the site icoinmarket.com was registered to a private owner on April 10, 2013. When you look at the site you will not find any information on who runs the site. All you will find is the usual common phrases saying how iCoin Market was established by a group of professional traders.
The site goes on to say how it employs skilled analysts. These individuals carry strong portfolios and have valuable experience in cryptocurrency. Yet, no names are given and no phone number is listed. You will find an address that points to Hong Kong as the company's address. You will also find the standard email address with “support” as the contact person.
The site doesn't list whether these people are licensed or insured or any of the legal stuff that goes along with trading.
When looking up iCoin Market online, you will notice a lot of reviews about the company. The one thing you won’t find though is any presence on social media. You would think a company like iCoin Market would want to expand and reach people online. But it seems the way people get involved with iCoin Market is through word of mouth.
iCoin Market Products
iCoin Market doesn't offer any retail products. Nor does it offer any services outside of investing and mining your digital currencies.
iCoin Market Opportunity
iCoin Market is an investment company that requires its members to jump into the world of cryptocurrency and makes a deposit. According to the site, the members are promised returns up to 300% of what they invest.
The one thing you will notice about iCoin Market is that they don’t offer any residual income for recruiting new members. This, of course, is a breath of fresh air considering how many other sites offer this. You will also notice that you don’t have to recruit anyone or build a downline. All you have to do is invest in the company and earn your ROI.
iCoin Market Verdict
There are a lot of red flags that pop up when looking at this site. The first major red flag to come up is the lack of transparency when it comes to ownership. iCoin Market only provides you with an address located in Hong Kong. There is no names or faces to link to this business.
It is possible that whoever created this site has no idea what they are doing. Since there is no viable proof of iCoin Market's track record, you should be wary before signing up and investing your money.
Another major red flag is how iCoin Market promises its members 300% ROI. How is that even possible to promise such a high return? The site doesn't offer any details on how it goes about earning money. If you were to just look at the site you would see that they expect people to just trust them.
At least they are honest when they say that losing money is all part of trading and investing. The fact that they state this should make you cautious about signing up.
Another major red flag is the lack of legal representation. May traders and brokers are required to inform their clients of their track record and if they are insured. The fact that iCoin Market doesn’t offer any of this information should make you pause.
If they were a solid company, they would provide this information on the front page of their site and list who their brokers are.
iCoin Market, however, uses vague phrases like “professional team” and “experienced managers”. Yet, they don’t tell you who these people are.
There are just too many red flags that come up when taking this site at face value. If you are interested in investing with them, you may want to wait until after they have officially launched. Then, start checking the numbers and see what other people have to say. It could be that they are still in pre-launch that most of the information that they are lacking can be resolved. If though it isn’t in a few months, then you know not to get involved with iCoin Market.