Crypto automated trading has become immensely popular because not many people understand the ins and outs of this relatively new space, but still want to take advantage of it. You have probably heard of investors making millions through crypto trading and want to do the same. But, in order to make it happen, you will have to spend a great deal of time in figuring out how the market works. Not everyone has time to spare, so what can they do? They can take advantage of cryptocurrency trading robots that are designed to trade on a person’s behalf. Through this form of automated trading, you will be able to take advantage of this market’s potential and expand your portfolio.
However, not all crypto trading robots are legitimate and reliable. As a matter of fact, there have been a number of crypto scams involving trading bots and you certainly don’t want to make the wrong choice. Therefore, it is best to do your research into a crypto trading bot before you sign up for it. One of the numerous options you will find is Crypto Contracts App. This is a new crypto trading robot that has been developed for the crypto industry. As per its claims, it can help investors in earning approximately $1,300 in profits on a daily basis and the minimum deposit required is $250.
The question is whether Crypto Contracts App is authentic or is one of the scam trading bots that can be found in the market. Put simply, it is not a legitimate trading bot and Crypto Contracts scams are becoming widespread these days. It is just another one of those get-rich-quick schemes that promise very good returns, but don’t live up to them. As mentioned above, they guarantee their investors a profit of more than $1,000 per day, but if you do some research, you will come to know that most people have made zero profits through it.
The worst part of Crypto Contracts scams is that it doesn’t even give people the option of opting out before live trading or withdrawing their capital. Those who engage this crypto trading robot for a real-time trading experience will continue experiencing losses consistently until their entire deposit is depleted. It takes less than an hour for your $250 deposit to reach zero. In the first couple of minutes, you might make a little profit, which is not more than a few dollars. But, it goes downhill from there until you go into the negative. Consistent losses from the beginning till the end is a typical feature of scam robots. Here Xtrgate explains in detail Check Crypto Contracts scams below:
What is Crypto Contracts App?
In very simple words, this is a scam platform that has been camouflaged as a crypto trading bot. This platform is operating with scam brokers for defrauding traders of their hard-earned money. A webpage is presented to people, which mimics a real trading robot for convincing unsuspecting investors to deposit money with the platform. The only reason people choose to use crypto trading bots is because they make use of computer algorithms that are capable of automatically analyzing the crypto market for vital information and placing trades accordingly.
These algorithms have a higher accuracy as compared to human beings as they are able to derive insights from big data. Furthermore, it only takes them a few milliseconds to make it happen. Speed and accuracy are the two most important factors in crypto trading. There are some popular trading robots in the market that use cutting edge technologies, such as Machine Learning and Artificial Intelligence for analyzing big data. This makes them highly suitable for use in crypto markets that are known for their volatility.
How Does Crypto Contracts Scam Work?
In order to use this crypto trading bot, users first have to make a deposit. After they have done so, the scammer behind this bot will share it with the equally scam broker facilitating this transaction. Affiliates are also supported by Crypto Contracts App, who receive a cut from all deposits that are made through them. No live trading is involved in this platform. As stated earlier, they have a cleverly designed webpage mimicking a real trading platform and it is set to report predetermined losses until the entire deposit has been wiped out.
Crypto Contracts scams, like other scam robots, also makes use of emotional marketing. They are targeting the average individual dealing with financial difficulties and looking for a way to make some quick money. You will find testimonials on their website, which are usually of people who are struggling financially before they found the robot. These stories are designed to emotionally manipulate traders into choosing the robot.
Who is Behind Crypto Contracts App?
One of the biggest indications of a scam robot is that they will never provide you with any real details about their team. This is perfectly applicable in the case of Crypto Contracts App because they provide absolutely no details about the founder or the team. You will also not be able to find anything about partner brokers until you have made a deposit. This is due to the fact that the bot has partnered up with brokers that are well-known scammers, which means that no one will bother signing up with this trading bot if they know the partner brokers beforehand.
Apart from that, Crypto Contracts scam doesn’t provide any information about their supporting and legal registration team. You will not get any information about their customer support department and there is no traceable phone number provided to help you. In simple terms, it will not be possible to trade the fraudulent trading bot once they have scammed you. There is no way for you to hold them accountable after you have deposited money with them and suffered a loss. Legitimate trading robots, on the other hand, provide information about the founders and legitimate registration information. They are also known for only partnering with genuine and regulated brokers.
When you choose such crypto trading robots, you can rest assured that your deposit is safe because they are required by law to offer you protection due to their regulatory status.
If you are still unsure of whether to sign up with Crypto Contracts App or not, here are some prominent reasons to steer clear of this crypto scam:
- An unsafe process for creating an account
One of the biggest factors that highlight a legitimate trading bot is their cybersecurity measures. Scam trading bots are less likely to pay any attention to data protection measures on behalf of their investors. The Crypto Contracts scams is no different. Not only do they not take any appropriate measures, the trading bot also shares information with third parties. Consequently, when you sign up for this crypto trading bot, you are highly likely to receive a lot of spam emails and calls. They also use spam marketing for reaching out to potential traders.
More importantly, like other crypto scams, they also keep switching domains. This is probably an attempt to not be penalized by search engines for the various complaints that have been launched against them. Victims have reported that the trading bot stores billing information and may also be exposing it to cybercriminals. There is also a good chance that they might sell off your data to hackers.
- No withdrawals are possible
If you want to opt out of live trading, Crypto Contracts scam will deny you the opportunity of making a withdrawal. It takes a little less than an hour of trading for you to lose your investment. These scammers work with fraudulent brokers to steal trader funds. Aggressive marketing techniques are used for convincing traders to sign up with their platform. In addition, they also use a fake web-trader to make people believe they are losing their money through live trading. But, the reality is that this trading bot is not connected to any exchange and no live trading occurs.
- Zero profits are generated
As previously mentioned, predetermined results are reported by the Crypto Contracts scams. From the start till the very end, you will be making consistent losses. If you check out user reviews, you will notice this is a pattern as most traders end up losing their entire deposit and have nothing to show in the form of profits. To add to the mess, the customer support of Crypto Contracts App is only available until you make a deposit. Once your payment is done, they will stop responding to messages unless they are about adding trading capital.
- A fake trading platform
The trading platform that’s shown by the Crypto Contracts App is completely fake. It is just a cleverly created webpage that has features that are a lot like an actual web-trader. There is no underlying technology that supports the platform and the results have already been predetermined so there is no point in trading. Those who have tried out their ‘trading platform’ have reported making a profit of $2 in the first couple of minutes. Thereafter, they only make consistent losses and it continues until all their funds are gone. This is a pattern with this trading bot, which highlights that it is a scam.
In conclusion, it is safe to say that Crypto Contracts App is nothing but a scam and you will only lose your hard earned money if you trust them. There have been lots of complaints about this bot disappearing with the deposits made by numerous investors. It has a poor reputation in the market and has partnered with scam brokers to take advantage of people.