This review exposes a seemingly decentralized scam called DeFi:ETH that promises to make you money thanks to liquidity mining and dynamic staking.
What is DeFi:ETH
Defi:ETH at lockybit.com is a cryptocurrency platform that is a little bit confusing in terms of how it is supposed to work.
There is no real explanation, you can just read that it is a “liquidity mining pool dynamic staking”. It seems that you have to deposit the USDT token in the Ethereum network.
The main promise is that you will earn up to 3.5% daily on your deposit. The minimum amount you can invest is 500 USDT which equals to 500 USD.
Is DeFi:ETH a legit investment program that you should join?
The truth is that DeFi:ETH is a simple cryptocurrency scam that is going to lose your money. So you should stay away from it, don’t deposit any USDT to the smart contract.
A quick way to see that DeFi:ETH is a scam is to look at the partners listed on the official website. You will see names like Coinmarketcap, Coingecko, Huobi, crypto.com and TronPad.
In reality these names have nothing to do with DeFi:ETH, they are not partners of this project. You can contact them and verify this information.
The conclusion is simple, since DeFi:ETH is lying about its partners, it is a scam.
Everything is in the plans
What really gives away the DeFi:ETH scam is the investment plans. Because the range of daily returns on investment from 1.3 to 3.5% is absolutely ridiculous.
There is no activity in the cryptocurrency world that could generate such yields. It would basically mean doubling your money every month.
Such returns are offered only with small cap and very volatile tokens that lose value quicker than what you earn thanks to to the yields.
Here DeFi:ETH is promising you these ridiculous numbers on USDT, which is a stable coin. You will be lucky to get 10% in year on this token, so forget about 1.3 to 3.5% daily.
How it really works
It is very simple to define how DeFi:ETH works. If it is paying, it is a Ponzi scheme that is going to collapse. If it is not paying, it has already collapsed.
Either way, you should stay away from it. Because even if it is still paying, it is just just using new deposits for that. There is no real activity generating real profits, just an illegal financial scheme punishable by the law.
Also, if it is still running, it can stop any time, so you really don’t want to be in because it could crash right after you first deposit.
DeFi:ETH review – Conclusion
DeFi:ETH is an illegal financial scheme and a scam, it is not generating profits through any legit activity. It is sure to crash and burn, and that is why you should stay away from it.
If you are interested in legitimate crypto investing, you can try it on a free demo on a regulated platform. You can learn and test with virtual money.
You can start investing real money only when you are sure that you understand the risks and when you have a proper strategy.