Ethtrade review 2017 – Scam
You probably are reading this “Ethtrade review 2017” because someone tried to sign you up in this pretty new program. Another possibility us that you have seen an advertisement via one of the many Revshares or social media platforms. Either way, you want to know whether Ethtrade is a legitimate business or a scam. A lot of people thought Ethtrade is a legitimate company, we are sure that it is not!
- Status: Paying
- Risk: Very High!
Ethtrade review 2017 – What is Ethtrade?
ETHTrade, as this platform is called, promises users the moon and the stars. However, everyone can clearly see this is a scam website waiting to go down and leave a lot of people empty handed. Ethtrade was founded in August 2015 by Eric Bondi and Michael Frendowski. The online trading platform was launched in early April 2016, Ethtrade Limited was then registered in July 2016 in Hong Kong.
Ethtrade looks like a classic Ponzi scheme that claims to be a trading company that deals with Ethereum and promises its investors up to 25% return on a monthly basis. The Return On Investment (ROI) sounds very attractive for a passive income.
Ethtrade disguises as an investment company. From the official website, one can notice it is a scam that aims to steal your hard earned money. There are multiple red flags that we found out about.
Ethtrade Review 2017 – Red Flags!
Alert 1 – Unknown Owners Identity
The first thing that got us sceptical is the fact that Ethtrade is not sharing any basic company information with its members. Their domain was registered in February 2016 and their domain whois showed the setting is private.
We have tried to search for the person who is running the program but nothing comes up. This is a very clear sign that the scammer does not want to reveal his or her real identity.
If a company is not honest or transparent about their basic information, then it either is a scam or not worth your time and money.
Alert 2 – 25% ROI
We have years and years of investing experience. In most large corporate shares or stocks the return is less than 8% every year. The Ethtrade investment plans is absurd and unsustainable in the long term. The provided Ethtrade calculator shows that it earns you a 25% ROI on monthly basis.
The strangest part of the investment plan is that it returns a steady percentage regardless of any price volatility.
The ROIs that they claim on the Ethtrade website clearly indicates that the investment funds of new members are used for the profits of the old members.
Alert 3 – Removal of Partners’ Logos
When they launched, ethtrade had logos of Maker, ConsenSys, Slock.it, Digix and EtherParty at the bottom of their page. All of these companies soon requested them to take down the logos.
Ethtrade Review 2017 – Conclusion
There are far too many red flags for it to be considered a safe investment opportunity. It is very rare that I recommend HYIP programs because there is a lot of due diligence to do before you dive into this.
If you really want to make some good investments, we advise you to have a look at our recommended section or that you check out our Number 1 recommended program called Futureadpro. This is a revenue sharing website with lots of external income streams.
I believe this should give you a nice overview about Ethtrade.
Feel free to share your thoughts, questions or testimonial below!