Crypto Gold is a platform that claims to make its users overnight millionaires by helping them invest in crypto mining. This software claims to apply the latest crypto mining equipment to give investors a return on investment beyond their imagination. But is Crypto Gold a scam or legit crypto mining app?
As usual, InsideBitcoins has carried out rigorous tests to determine if this is a trustworthy app. We conclude that it is a scam and you should keep away from it. In this review, you will learn more about why you should not invest in Crypto Gold and get recommendations for proven crypto trading apps. It is essential that you read our main robot page to learn about our rating criteria and our top picks for 2019.
Is Crypto Gold Legit? No!
InsideBitcoins tests involve hands-on experience with the platform and also an analysis of individual users’ online reviews. We found Crypto Gold investment software hard to use and their fee mechanism not transparent.
Also, there are a lot of online complaints about this trading platform scamming people. InsideBitcoins, therefore, does not recommend it and advise that you keep away from it.
What is Crypto Gold?
The platform requires investors to contribute anywhere between $500 and $1.5 million depending on membership level. The membership levels offered include Silver, Gold, Platinum, Diamond, and White Diamond.
InsideBitcoins finds the Crypto Gold approach to have the characteristics of a pyramid scheme with members at lower levels earning money basing on the number of people they introduce. Crypto Gold calls this multi-level marketing, but our analysis reveals that contributions made by new members drive their ecosystem.
We can confirm that their trading platform does not work as they promise and most of their claims are bogus. Our tests indicate that they do not have a stable underlying technology behind their platform and are often dodgy on questions regarding the logic behind their business model.
InsideBitcoins has determined that their customer service is unresponsive most of the times especially on questions regarding the reliability of their trading platform. Also, while it is possible to make money from crypto mining pools, the ROI promised by Crypto Gold is ridiculous and impossible.
This platform seems only determined to get new signups after which it is likely to disappear with your money. Read our Bitcoin Profit review if you are looking for a legit trading platform.
Who Founded Crypto Gold?
Crypto Gold does not disclose any information about its founders and the team behind the app. There is also no information about its country of origin or a traceable phone number. This means that there is no way for investors to track the people behind the platform in the event of fraud.
Even worse, the platform uses freelancers to give fake reviews about its platform. InsideBitcoins has determined that almost all of the people on its videos are freelancers on Fiverr. One freelancer appearing on their website has also appeared on other scam websites in the crypto industry.
Also worth noting, this trading platform is not under any regulation whatsoever despite collecting deposits. While trading apps are usually not regulated, they operate under brokers who are generally monitored in their jurisdictions of operation. Crypto Gold handles deposits which mean that the lack of regulation makes it illegal.
How does Crypto Gold Work?
Crypto Gold is a platform that pools together investors’ funds and invests them in crypto mining companies. With this platform, you can invest directly in mining pools, or you can buy shares of companies invested in crypto mining.
InsideBitcoins has determined that this platform does not provide any information about the companies it invests in or the process it uses to assign funds. The failure to make these disclosures should be a big red flag to investors.
Given that this platform is not under any regulatory body, there is a high likelihood that it does not invest in any crypto mining business. Crypto Gold is more focused on raising deposits which adds to the suspicion that it might be a pyramid scheme surviving on deposits made by new members.
The approach used by this scam platform should not be confused with automated crypto trading, a proven method that involves using computer algorithms to trade. While many crypto trading robots are a scam, there are a few that are legit. We recommend that you read our list of the best trading platforms in 2019 if you are looking for a high return crypto investment method.
Crypto Gold Line of Business; Overview.
What is crypto mining?
Crypto mining is a process through which new digital coins come into circulation. For cryptos such as Bitcoin, the method involves transactions validation through complex mathematical models. Crypto miners make money by keeping a fraction of the coins they help generate by accurately validating transactions.
Does Crypto Gold invest in Crypto Mining?
Crypto Gold claims to help investors generate millions of dollars by investing in crypto mining. We did not find any evidence that Crypto Gold invests in Crypto mining. InsideBitcoins finds this platform not transparent and hence highly untrustworthy. They seem more determined to mobilize new deposits than to improve their investment platform and services. We are convinced that their business model depends on the money collected through new signups and hence this is a pyramid scheme. If you are looking for a high return investment in the crypto industry, we recommend that you look at our list of top crypto trading robots in 2019. Also, read our guides on the example robots provided in this post. These have been proven to generate profits and we highly recommend them.
Why you should avoid Crypto Gold.
As mentioned severally in this review, Crypto Gold is a complete scam, and you should avoid it. This platform claims to invest in crypto mining, but we have established that their main focus is on mobilizing deposits. The following are the main reasons as to why you should not invest in Crypto Gold.
- Has features of a pyramid scheme – Crypto Gold appears to sustain its business model by mobilizing new deposits and paying commissions on referrals. Additionally, this platform claims to invest in crypto mining but does not provide any evidence to that effect.
- There are many complaints about deposit loss – If you conduct an online search, you will realize that there are many complaints about people losing money by investing in Crypto Gold.
- Is not regulated – Any company that mobilizes deposits from investors must be tightly controlled. Crypto Gold is not regulated in any jurisdiction and can therefore not be held accountable in case of deposit loss.
- High deposit requirements – This scam investment platform requires a minimum investment of $500.
- High investment fees – You need to pay an investment fee of $79 to get enrolled in their membership programs. These programs inform the amount you will earn when you make referrals.
Crypto Gold vs. popular crypto investment platforms.
|Trades cryptocurrencies using sophisticated computer algorithms||Does not apply any known technology. Appears fishy.|
|Requires a minimum deposit of $250 only||Requires a minimum deposit of $500 and a maximum of $1.5 million|
|Legit trading platform and business model||Unproven investment platform|
|Well thought out trading platform||Has all the characteristics of a pyramid scheme|
|Few complaints about trading platform reliability||Many complaints about lost deposits and unresponsive customer service|
|Highly recommended||Not recommended|