What Is Menchor Trading?
Menchor is a service that allows investors to have cryptocurrency “experts” trade on their behalf. The site promises hourly interest earnings, with three different tiers depending on how much the customer deposits, but there's no explanation of how this could continue to work in the event that cryptocurrencies' values begin to plummet.
Who Is Behind Menchor Trading?
Menchor is based in London. The company was founded by Landon Burns, and only three other executives are identified. Few biographical details are offered about these four individuals, and searching the internet for more information yielded no results. None of the cryptocurrency traders actually responsible for handling customers' money are identified.
Menchor has nearly 20,000 followers on Facebook and about five thousand views on its YouTube videos. However, few online publications have written articles about the service.
Menchor Trading Technology
Menchor offers portfolio management for cryptocurrency investors. Though the site refers to itself as a platform for “automated trading,” it claims to rely on highly experienced human investors rather than algorithms. Users simply deposit their funds in Bitcoin or any of the other accepted cryptocurrencies, and the site guarantees that their investment will grow hourly.
How Menchor Trading Automated Cryptocurrency Exchange Works
Menchor's users typically commit to a one-year term after which their deposit and earnings are automatically returned. Users are able to withdraw their earnings earlier, but this requires a 5% fee. The minimum deposit required to participate is the equivalent of 0.001 Bitcoins; the site accepts several other cryptocurrencies.
Menchor offers three tiers of interest earnings, called Argentum, Aurum, and Platinum. Respectively, these levels require an investment of at least 0.001, one, and five Bitcoins, and they earn 0.15%, 0.175%, and 0.2% interest every hour.
Menchor also allows users to earn more through its Affiliate and Representative programs. These programs pay existing users to recruit new ones, and pay users 2% and 5% respectively of their recruit's deposit. All users are automatically enrolled as Affiliates, though the Representative ranking requires users to apply with the company.
Menchor Trading Verdict
Portfolio management is an old idea, and while applying it to cryptocurrency investment is a logical next step, Menchor doesn't seem to display the discipline required to win the trust of serious investors. The company promises constant earnings from a relatively limited set of assets, with no explanation of how this could work in a bull market, and its website never actually identifies who is responsible for managing customers' money. If Menchor can actually provide the returns that its website promises, then investors should take notice, but they should be very wary until the company proves its mettle and becomes significantly more transparent.