In this review we warn against the NexusICO scam that is an illegal financial pyramid destined to collapse.
What is NexusICO
Nexus ICO is an investment platform run by a company with the same name. The company allegedly invests in new cryptocurrency tokens, trades with established cryptocurrencies and develops new apps and games.
Besides all those activities it is also preparing its own token called NICO.
The main offer of NexusICO is its three investment packages called NICO Starter, NICO Pro and NICO Premium.
The minimum investment is 50 USD with 1.149% daily returns. With the highest package you have to deposit at least 50,000 USD and daily returns are 1.915%.
You can enhance your revenue by referring other investor to NexusICO. You can earn commissions on their deposits across 5 levels, plus there is a binary income.
The company claims to be registered in the United States, United Kingdom and the Seychelles.
Now let’s answer the question whether NexusICO is a legit investment platform that you can trust.
Our thorough research showed that Nexus ICO is in fact a fraudulent and unauthorized financial platform that is very risky for your money. You should stay away from it. Read this review to understand why.
NexusICO started in 2020 and they used the typical scammers’ trick with a company registration that was never meant to be real.
You see, in a lot of countries it is very easy to register a company online for tax purposes. You don’t have to prove anything about the legitimacy of your business and in one year you disappear before submitting your first official reports to authorities.
And that is precisely what Nexus ICO took advantage of. They did their main registration in the US and UK. But they never intended to follow all the legal procedures, submit reports every year etc.
But NexusICO was never a real company to start with, it was built is a scam since the beginning.
Illegal investment service
The finding that NexusICO is no longer registered as a company automatically implies that it is not authorized to provide investment services either.
Which makes it an illegal investment service that offers no protection to your money whatsoever.
Failed business plan
NexusICO had big plans. What we can immediately see is that it completely failed. Last year the NICO token was supposed to launch and to get listed on crypto exchanges. But the token is not traded on any real exchange.
Also, this year they planned to launch their blockchain as a service, which again, did not happen. Nexus ICO don’t have their own blockchain nor cryptocurrency token.
But that was to be expected because it is a scam that is not doing any real business activity. They don’t develop anything and they don’t invest in anything.
Do not confound with other projects
When you make a search about the Nexus blockchain project, you will find one. In fact, there are several crypto projects that use the name Nexus in their name somehow.
But none of these real projects has anything to do with NexusICO. And the token NICO is not traded on any real crypto exchange.
Scam investment plans
What really tells it all about NexusICO is its investment plans. Because be it 1.1 or 1.9% daily returns, it screams scam.
Apparently they stopped paying returns on weekends, so their weekly returns now range between 5.7 and 9.5%, which means roughly 20 to 40% monthly. Which is a typical number for scams.
In fact, it is impossible for any legitimate business to earn you 20 to 40% on a monthly basis. Nobody can do that.
And don’t forget that NexusICO is also promising additional revenue from deposits made by people you refer to the system. And the company would not be doing all this for free, so their real profits would have to be much higher than 20% monthly, which makes it even more ridiculous.
We know that you don’t want to hear that, but when you see an investment offer with 20% or more monthly returns, you can be virtually sure that it is a scam.
How NexusICO works in reality
NexusICO is a scam that is running as a Ponzi scheme. It basically is a giant financial pyramid that is taking money from people on the lower levels and giving to people on higher levels.
No real economic activity is happening, just an illegal scheme that redistributes money among its members.
It was designed as a sophisticated pyramid that motivates members to bring new people in and make them deposit. The scheme needs an ever growing incoming stream of deposits, which of course is unsustainable.
That is why Ponzi schemes like NexusICO always fail in the end, they need infinite amounts of deposits, which is something that does not exist.
So, if Nexus ICO has not crashed already, it is going to happen, it is a sure thing. The only question is when. And this is the reason why you have to stay away from fraudulent schemes like this one, you know they are going to crash, you just don’t know when.
Nexus ICO review – Conclusion
NexusICO is a financial scam run by a dissolved company. It is built as a Ponzi scheme, which means that it certainly is going to crash and money will be lost. You have to stay away from it.
In case you are interested in financial trading, we recommend staying with regulated platforms that allow you to try everything on a free demo account.
If you decide to invest real money, please make sure that you understand the risks and that you have money for this purpose that you can afford to lose.