In this review you will learn that CoinTrustLab is an absolute investment scam that is made to steal your cash.
What is CoinTrustLab
CoinTrustLab is an investment and cryptocurrency mining company. The company claims to have offices in the UK and Hongkong and to be officially registered.
Its offer constitutes of three investment plans with daily returns from 3 to 5%. The minimum deposit for the 3% plan is 50 USD made in Bitcoin. And the company claims that the investment is risk-free.
You can also increase your revenue with 11% of the deposits of people you refer to the system.
Is CoinTrustLab legit? Should you invest money with it?
The sad news is that CoinTrustLab is a scam. A plain dirty scam that will just take your money and give you nothing in return. We have that confirmed with real users. Here are the main red flags.
Not registered and illegal
By their own admission, CoinTrustLab is an investment company. It offers investment services to the public, therefore it needs authorizations from financial regulators. As it is supposed to have offices in the United Kingdom, it is required by the law to have an authorization from the Financial Conduct Authority.
But CoinTrustLab is not registered with the FCA, therefore it is an illegal investment service. Deposits are not protected in any way and the company is breaking the law. This is a huge red flag.
No risk-free investments
Investing is always risky, no matter the underlying assets. Some investments are more risky, some less, but you have never guarantees of profits because unforeseen circumstances can occur.
So, when you read on CoinTrustLab’s official website that their investments are risk-free, it should ring the alarm bell. Because cryptocurrencies are extremely volatile, and it is one of the riskiest investments there is.
CoinTrustLab is obviously lying about this subject and it is another big red flag.
Impossible investment plans
The truth is that you can see that CoinTrustLab is a scam just by looking at their investment plans. Because like it or not, 3 to 5% daily is impossible in any business or investment activity. Steady daily returns in crypto investing are pure fiction.
As we have already mentioned, cryptocurrencies are very volatile, so you can make big profits some days, but losing days are inevitable and you can’t make 90 to 150% every month, it is just impossible. In any business.
Most of the online investment scams propose this kind of ridiculous numbers and this is how you can easily uncover their true nature.
How CoinTrustLab works
CoinTrustLab is not even a Ponzi scheme that would try to pay its users during the initial phase to attract more people and money. It is just a simple scam where you make your deposit in Bitcoin and lose it immediately.
Yes, CoinTrustLab will show you some profits on your account, but these will be fictitious profits. When you try to withdraw, they will ask you for more money. They will make up different things that you need to pay for, like an ID number and an International Trading Number (ITN), which don’t exist.
They will just try to get as much money as possible from you and they will never pay you anything back. And because you will make the transfers in Bitcoin, the transactions will be irreversible. The only thing you can then do is to go to the police.
CoinTrustLab review – Conclusion
CoinTrustLab is an unauthorized and illegal investment service and a scam. All money you deposit with this fraudulent scheme will be lost. Stay away from it!
If you are interested in legitimate cryptocurrency trading, you can try it on a free demo account with a regulated company.
When contemplating real investing, be sure to first understand the risks. And prepare a good strategy.