Is Cryptologic a Scam Trading Bot? – Risk Free Crypto Trading or Guaranteed Scam?
Cryptologic is one of many cryptocurrency trading bots I’ve come across recently that claims to be able to make anyone easy money online. Of course I’m always skeptical looking into these things because there are just so many scams out there you can never be too careful. When I do my investigating on these opportunities I go in with the assumption that they are scams and I look for ways to be proven wrong.
Is Cryptologic a scam? In this short review of the Cryptologic bot I’m going to be going over some serious red-flags that I came across and why I definitely think that this is just another scam preying on those looking to make some money online.
The Cryptologic bot seems to be your pretty standard cryptocurrency trading bot scam that you see out there. The people behind it all claim that it can make you massive profits without any effort, which is of course what everyone wants.
As I said when I look into these things I have the mindset that they are scams and look for reason that I am wrong. But in this case everything I looked at just proved me to be more and more right. You will see what I mean.
How It Works
Of course, as I was expecting, they give a very brief and very vague description of how the bot actually works. They tell you that it uses some of the most popular indicators in the market along with expert guidance to accommodate the volatility in the market.
Ok well what the heck does this mean? This is about the most vague statement they could possibly make. They don’t tell you what indicators it uses, how exactly it uses them to determine what trades to make, what kinds of trades it is looking for, who the experts are that are supposedly safeguards to the market volatility, etc.
From their description we know pretty much nothing and this is a problem for me. Its a major red-flag. Since you are unable to see how this bot is coded or anything like that I expect them to explain it better. There are too many scams out there and giving a vague description for how things work is a very common sign of a crypto scam… or any scam for that matter.
Can You Really Make 149% ROI on Your Trades?
On the site they claims that you can make $1.49 for every $1 that you deposit into your trading account. This means that you will be making a 149% ROI.
The problem here is that I don’t believe it. The crypto market is very volatile and difficult to predict. I don’t know how they can possibly promise you a fixed return like this. I really makes no sense and is yet another sign of a scam.
Also they don’t really tell you how you end up with a 149% return. Can you expect this much per trade or how many trades does it take to get there? And why can you pass that ROI if you continue to trade with the original investment? There are a lot of questions that need to be answered here before I am even close to believing what they are saying.
0% Fees… How Is This Possible?
This is possibly the biggest red-flag of them all. They claim that there are 0 fees and that the Cryptologicbot is free to use. So then how the heck do they make money? They have to make money somehow to keep this bot up-to-date and keep everything operating smoothly. How do they do this?
There is no way they are doing this out of the kindness of their hearts.
Whenever you look into possible scams its always important to look into the money flow. Look into how they make money and if it all makes sense and is legitimate. In this case it makes absolutely no sense and is more than likely not legitimate.
A Look at The Team Behind Cryptologic
Just as I suspected there is absolutely no information on the team or anyone behind this trading bot. You cannot find anything on their site. This is another red-flag for me. When I come across something like this I like to look into the people behind it to see if they are who they say they are, if they are qualified, what their reputation is like etc. But unfortunately I cannot do any of that now.
This is another common characteristic of a scam. They don’t want to show their faces because they are going to be making a lot of people very mad.
How They Will Scam You
First off let me say that I have not actually used this bot nor do I plan to. However, I have looked into enough of these trading bot scams, like Crypto Edge System & Altcoin Trends, to know how they work.
Whats going to happen is you are going to be able to sign up to use the bot as they tell you. Then of course you are going to have to fund your trading account with money to begin. Usually they require a minimum of $250. They will send you to an unregulated and uncredible broker to do this… which by the way.. you don’t need a brokers to trade in the cryptocurrency market.
The fact that they send you to a broker alone is a scam sign. There is no need to do this.
But anyways… once you deposit that money it is unlikely you will ever see it again. They might make it look like you are making money in your account but when you go to withdrawal you will see that you cannot do so.
Final Thoughts on Cryptologic – Scam
Everything about this place points to it being a scam. After looking into it I can say that there is nothing about it that leads me to believe it is legitimate in any way. If you still want to risk your money and try it out then go for it but I would advise against it.
This place is just is not worth the risk and I’m 99% sure its a full blown scam.
On another note, you might be interested in taking a look at my guide for making money online. It has nothing to do with cryptocurrency but I find that many of the people looking into this just want a way to make money online. I been making money online 2015 and make a living doing this. In the guide I’ll go over how it all works and how others can get started doing the same You can read it here.
Questions or comments? Leave them below and I’ll get back to you 🙂