Coinarc.co claims to be the perfect crypto and forex investment platform for long-term goals. With an enticing website, the platform has gone ahead and seduced investors into depositing funds. Those who have already tested the waters are ruing the decision. It turns out Coinarc is another scam stealing from naïve investors. Our investigation reveals some damning evidence on Coin Arc. There’s every reason to believe they are just defrauding investors. Make sure you go through this detailed COINARC.CO Review.
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On the about us page, they lead investors into believing this is an automated trading platform. Among the instruments, available include Binary, crypto, and forex. The fact that they offer binary options makes them a scam.
Nearly all regulators in most jurisdictions have banned binary trading. The assets traded on their platform do not exist, and all this is a demo version of a real trading website.
Looking at the website design, they have more information than necessary. The homepage is too long, making it lack user-friendliness. Navigation was not easy as information is plastered all over the page.
Even their slide is long, with more than three slides. You have to spend a lot of time going through the entire website. A claim of being supported in 34 counties is another lie. The platform only exists in the online realm.
Account opening procedure
Opening an account with this platform is free of charge. You would expect them to charge opening accounts. With the claim of offering financial freedom, it makes sense to charge the account opening procedure. There’s a good reason why they don’t do so. The platform aims to target all classes of investors. You don’t have to have any trading knowledge to sign up with the platform. As long as you have funds, the Coinarc.co claims to do the rest for you.
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The cracks start appearing when you try to withdraw yields for the first time. Yes, members will eventually find their account balance rising from the initial deposit.
Withdrawing funds requires verification. The platform demands users to send a copy of their ID, bank statements, and credit card details.
We don’t see the need for this to use email links or SMS codes for verification.
A cybersecurity expert warns this platform is probably harvesting banking data from members. Once they have these documents, there’s no stopping them from creating a new persona. This is one of the many ways identity theft occurs.
Investors should be extra careful when sending valuable documents via online platforms. There’s no telling what the platform does with them. There’s no information as to whether Coin arc protects the privacy of members.
There’s a 15 percent referral bonus available when you direct investors to the platform. Before jumping in, you need to understand the risks of being an affiliate member. Professional affiliate members have already blacklisted the platform.
They don’t want any association with a crypto scam platform. It will create negative publicity on these affiliates. Victims will point the finger at those who directed them to the scam. The law will see you as an accomplice to online fraud.
George Cabrera is the name we are told manages this platform. Other staff members have been mentioned on the homepage. After a thorough search, we couldn’t find any of these persons. There are no social media profiles with names relating to the staff members.
We believe these are stock images meant to throw off investors. None of the people are found on professional websites such as Jobcase or LinkedIn. This is an anonymous website.
Coinarc.co License and Registration
Coinarc.co is not registered in any jurisdiction, and they don’t have a valid license. The platform does not pose any certificate or documents to prove compliance. We did a quick check with leading and trusted trading regulators.
None of them have heard or licensed the above entity. It goes to show Coinarc is operating without any regulation. There’s nothing to stop them from harassing investors.
Without valid credentials, the platform does not meet the fair standards of investing and trading. Those who sign up are at the mercy of these unscrupulous traders. Authorities won’t help since you agreed with an unregulated entity.
Members don’t get to enjoy protection from regulators. There’s no way of convincing the platform to release funds even if it’s mandatory to do so.
Despite having a testimonials page, these are paid comments. Someone was paid to post these comments. You can tell by the way they try and sell the platform. There are more negative reviews on the platform than positive comments.
The only positive comments we see are on the homepage. Victims are ranting all over social media sharing their horrific experiences. All of them seem to share the same fate.
Features of Coinarc
Account and packages
Coinarc.co offers six packages to interested parties. These packages include Mini, Standard, premium, VIP, Elite, and Elite Club. With the mini account, members get 2.5 percent daily profit ROI.
We won’t even go and check the other accounts as the platform is using over-the-moon claims. No expert or robot can manage to keep these high investment returns. The market is volatile, and prices rise and fall without warning.
Contact and support
You will notice the platform does not have a phone number. The only way of communicating directly is via chat. And this, too, is not guaranteed as they at times fail to respond. The only other option is to send an email and wait for a response.
The people behind this platform want to remain anonymous. They don’t mind the welfare of investors, which is proof the platform is a scam. We don’t know the actual people behind it or their place of residence.
Deposit and withdrawal
Depositing funds with the platform is easy, and the process takes less than five minutes to complete. There’s no need to deposit as you won’t get the chance to withdraw. None of the members make it to this point.
They usually get emails that the platform sent withdrawal, and they should check with the bank. This is usually a lie, as the platform will soon shut you out of the account.
Safety of funds with Coinarc.co
There’s no safety of funds with a platform that fails to comply with regulations. The website does not have relevant security protocols to protect investors. There is no security software to protect investors from third-party attacks. The platform is prone to DDoS and malware.
Scam or Legit Coinarc.co
Coinarc.co is impersonating a legit trading website, and as such, we have to mark it as a scam.
After reviewing all the evidence, we have to add coin arc to our scam blacklist.
Make sure you use appropriate tools designed to help investors make reasonable profit margins. Go for the best crypto bots the industry has to offer.
Our team wishes you all the best.