With the growth of the cryptocurrency space, more and more HYIP sites have come into play. But as an investor, how do you tell the scammers from the real paying sites? The number of phishing sites is on the rise. Scammers are using every means possible to fleece investors and those who don't tread carefully lose huge chunks of their hard- earned money to the fraudsters. A common trend is setting up a site, posing as a legit business to lure potential investors, yet in essence, they pry on the gullibility of people to swindle them of their investments.
Is Xcoinz one such site?
What Is Xcoinz?
Xcoinz.net is an HYIP that claims to be involved in financial activities related to exchange trading and cloud mining. The company claims to be a team of experienced professionals with expertise in market analysis and investment who can provide high returns on money invested.
Xcoinz Cryptocurrency Investing & Trading Red Flags
First, the site provides a link to a certificate of incorporation on display but the link appears to be broken. In short, there’s no way to scrutinize and verify the certificate and the company’s registration is definitely in question.
As a cryptocurrency investor, it is necessary to go through and understand a company's whitepaper so you can determine how your money will work for you. You need to understand how your money will be invested, the programs it will be invested in, and the returns it will yield. It's not enough that a site displays figures and percentages, there have to be graphs, calculations or simulations showing how the investment returns are arrived at. As such, Xcoinz.net has no whitepaper.
Finally, the company boasts of a team of experienced professionals yet you cannot put a face to it. Who are the employees to whom you will entrust your investment for growth? The professional team at Xcoinz remains anonymous.
Xcoinz Final Thoughts
If you are seeking to invest and grow your money online, look for other legit sites because Xcoins.net is not.