What Is Zooo.Co?
Zooo.co is a website that claims to be able to trade cryptocurrencies so proficiently that they can double a client’s investment in as little as 48 hours. Trading cryptocurrency is not an uncommon practice, and it has been around almost as long as cryptocurrencies themselves (which is nearly 10 years now).
So, can such a fast return on investment really be possible when trading cryptocurrency through a service like this one? Before we explore the legitimacy of this particular website, let’s take a closer look at exactly what bitcoins and other alt-coins actually are and how trading them can be a profitable practice.
A cryptocurrency is a digital form of money that does not have a physical form. Instead, it consists of digital code and algorithms that substantiate each coin’s existence. Each form of cryptocurrency uses a system called the blockchain, which ensures that every single transaction is secure, open, and cannot be reversed.
Blockchain technology also ensures that cryptocurrency is decentralized. This means that the system does not have a centralized owner and does not belong to any individual or government. There is no locality where it resides, and instead it belongs entirely to its users.
The actual methods of trading bitcoins or alt-coins are completely different than those of trading traditional fiat currencies, or even trading on the stock market. However, the basic idea is pretty close. All of these practices function on the idea of buying low and selling high.
If you can reliably purchase cryptocurrencies just before they rise in value, you will be able to make a profit. Be careful though, as this means you can also lose a significant amount any time the value of a cryptocurrency drops.
Some of those who are excellent at trading cryptocurrencies for profit have begun offering services in which they trade a client’s funds instead of their own, and the client enjoys returns on their investment in exchange for providing the initial funding.
To use one of these websites, a user must invest an amount for trade and then trust that the service providers will be successful in making a profit with their funds.
Is Zooo.Co Legitimate?
When you select a service like this that is genuinely skilled at trading in cryptocurrency and they are true to their word, it’s entirely possible to net a decent profit as a client by investing with them. However, there are a number of people who have used this opportunity to scam innocent investors.
Unfortunately, it’s exceedingly easy for scammers to create a visually appealing website that can trick possible investors into trusting them. If they don’t offer legitimate proof or you don’t know how to verify the information that they do offer, then it is very easy to get duped.
There are a few common sense red flags that you should look out for with these types of services, and one of them is just how much of a return the service promises. If the return promised is way over the top, you can probably trust that it’s a scam.
There is a reason for the age old adage, if it seems too good to be true, it probably is. We’re confident that this is the case with Zooo.Co, and our suggestion is to stay away from this particular website.