CryptoRound Review: Cryptocurrency mining daily ROI Ponzi scheme
CryptoRound provide no information on their website about who owns or runs the business.
The CryptoRound website domain (“cryptoround.biz”) was privately registered on May 20th, 2018.
CryptoRound provide a bogus UK incorporation certificate for “CryptoRound Investment Pvt. Ltd.” on their website.
Legitimate UK incorporation certificates are bad enough. Fake UK incorporation certificates all but confirm the fraudulent nature of an MLM business.
As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money.
CryptoRound has no retailable products or services, with affiliates only able to market CryptoRound affiliate membership itself.
The CryptoRound Compensation Plan
CryptoRound affiliates invest bitcoin on the promise of an advertised “for life” ROI.
- invest $10 to $10,000 worth of BTC and receive a 10% ROI
- invest $10,001 to $20,000 worth of BTC and receive a 12% ROI
- invest $20,001 to $30,000 worth of BTC and receive a 14% ROI
Note that CryptoRound advertise the above ROI rates are paid daily “for life”.
CryptoRound pay referral commissions on invested funds down three levels of recruitment (unilevel):
- level 1 (personally recruited affiliates) – 5%
- level 2 – 2%
- level 3 – 1%
Note that Representative affiliates earn an extra 5% referral commission on level 1.
To become a CryptoRound Representative an affiliate must personally invest at least 10 BTC.
CryptoRound affiliate membership is free, however free affiliates can only earn referral commissions.
Full participation in the CryptoRound MLM opportunity requires a minimum $10 investment in bitcoin.
CryptoRound claim to generate external ROI revenue through cloud mining.
the development of mining processes of Bitcoin by the popular company from the United Kingdom.
On top of that, CryptoRound guarantee their ROI payouts.
GUARANTEED INVESTMENT RETURNS
cryptoround has developed a unique mechanism for the return of deposits in case of a negative scenario at the cryptocurrency market or force majeure within the company:
There is an updated reserve fund at our disposal, which is able to cover up to 75% of the loss in stock trading, as well as 100% insurance of equipment in the event if the company’s operations are stopped (or suspended).
No evidence of any mining or stock trading taking place, a reserve fund or insurance of mining equipment is provided.
Like the company’s formation and UK incorporation, CryptoRound’s claims of external ROI revenue are plucked from thin air.
Language on CryptoRound website strongly suggests it is being run by a non-native English speaker.
What about the website where I am?
What is investment proposal cryptoround has?
How quickly will be processed my withdrawal request?
This corresponds with Alexa citing India as the largest source of traffic to the CryptoRound website (11.3%).
Given the language examples above, it’s highly likely Indians either in India or the UK are behind CryptoRound.
Either way CryptoRound’s business model fails the Ponzi logic test.
First of all perpetual ROIs is not how cryptocurrency mining works.
Secondly, if CryptoRound’s anonymous owners were able to legitimately generate a perpetual 14% daily ROI (that’s 5110% annually without compounding), they wouldn’t be using bogus information to solicit investment from randoms over the internet.
The only verifiable source of funds entering CryptoRound is new affiliate investment.
Using newly invested funds to pay existing affiliates a daily ROI makes CryptoRound a Ponzi scheme.
As with all MLM Ponzi schemes, once affiliate recruitment dies down so too will new investment.
This will starve CryptoRound of ROI revenue, eventually prompting a collapse.
The math behind Ponzi schemes guarantees that when they collapse, the majority of investors lose money.