As a general rule, you should always consider every offer that fits the mold of “too good to be true,” to be a scam.
In this instance, we are dealing with a crypto-focused, auto-trading solution, which takes advantage of arbitrage.
It buys a certain amount of a certain crypto at one exchange, and it sells it at another exchange, for a profit. All this occurs within a few seconds, otherwise the profitability of the setup may slip away.
This way, it is claimed that return rates of 30% per month are achieved “consistently.”
The feat does not require any kind of expertise on the part of the user and the system is available for free, with no strings attached.
If that is not the definition of “too good to be true,” nothing is.
If someone actually developed such a system, the last thing on his/her mind would be to share it with the public.
The way the Profitcoins.io sales pitch is delivered falls well short of the mark too.
The website itself – while looking OK-ish profits with cryptocurrencies at first glance – ends up raising quite a few red flags under closer inspection.
The people behind it -purported to be real and genuine – are presented with pictures that look a lot like stock photography.
Indeed, the alleged founder and director, a certain Rocio Knight, has a LinkedIn profile too, with the same picture and not a single different one. There are no other traces of this person anywhere online.
The website itself, has been set up from the get-go with the copy featured now. Yes, that includes the 3,500 alleged clients the operator has.
A person who apparently worked on the project as a freelancer, hired online, makes it clear in a comment made on a profitcoins.io review, that the whole thing was set up the way it currently is, from the get-go, so the information presented on the site is all fake.
To add insult to injury, the said person has also revealed that the perpetrators of the scam actually scammed him and another person who worked on the “project” too, as they never saw any remuneration for the work they’d put in.
The alleged address of the company behind the profitcoins.io brand is non-existent.
There is no operation of this type located at 122 Leadenhall Street, London.
The user testimonials featured on the homepage are not just obviously fake, one of them used to feature a rather hilarious slip-up as well.