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Ethtrade Review – Is Ethtrade a Scam or Legitimate? Read Before You Invest

by Alex Y · Published · Updated

You probably heard about Ethtrade through a friend or family member. You could have also seen an advertisement via one of the many social media platforms. Either way, you want to know whether Ethtrade is a scam or a legitimate Ethereum trading platform. Almost everyone thought Ethtrade is a legitimate company, it is not. Read this unbiased review before you invest.

Alert: Hong Kong’s financial regulator the Securities and Futures Commission (SFC) has updated its Alert List, which features the names of businesses that are unlicensed in Hong Kong and are believed to be or to have been, targeting Hong Kong investors or claim to have an association with Hong Kong.

Added to the SFC Alert List is the company Ethtrade Limited, operating at www.ethtrade.org.

According to the SFC, Ethtrade Limited’s Hong Kong address belongs to a secretarial company.

What is Ethtrade?

Ethtrade was founded in August 2020 by Eric Bondi and Michael Frendowski. The online trading platform (ethtrade.org) was launched in April 2020 and Ethtrade Limited (2398217) was then registered in July 2020 in Hong Kong.

Ethtrade is a classic Ponzi scheme that claims itself a trading company that deals with Ethereum and promise its investors up to 25% return on a monthly basis. The Return On Investment (ROI) does sound attractive for passive income.

Unfortunately, if you think it is a legitimate trading company, it is not true.

Ethtrade disguises as an investment company. From the official website, one can notice it is a High Yield Investment Program (HYIP) scam that aims to steal your hard earned money. Why? There are a few red flags I managed to pick up.

Ethtrade Review – Is Ethtrade a Scam or Legitimate?

#Red Flag 1 – New Site and Unknown Identity

The first red flag is the fact that Ethtrade is unwilling to share any basic company background with you. Their domain was registered in February 2020 and domain whois showed the setting is private but the website itself is registered in Nassau, Bahamas.

The registrant’s name doesn’t show up. I have tried to search for the person who is running the scene on the internet and nothing appears. This is a clear warning that the scammer does not want to reveal his or her real identity to avoid detection.

If a company is not upfront and willing share basic information about the company, then it is either a scam or not worth your time and money.

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#Red Flag 2 – Vague Investment Information

Obviously, there is a lack of details on how Ethtrade manages the money from the investors such as underlying insights, strategies, goals and techniques. Ethtrade tends to be vague about the strategies used in their program.

Moreover, they have given incorrect information about what Ethereum is and its benefits.

Most importantly, given that Ethtrade is an Investment Service, it should be regulated by the Securities and Futures Commission (SFC) of Hong Kong. There is, however, no record of the company in the public register.

Worst of all, Ethtrade is an unlicensed investment company according to SFC. They adopt names similar to legitimate financial institutions to confuse investors. That also means if you deal with a company like Ethtrade, which is not licensed by the SFC, you may not be protected by the regulatory framework enforced by the SFC.

This is your hard earned money, please do not be afraid to ask questions. A genuine financial professional will usually be happy to explain in detail the investment program they are marketing. Unfortunately, Ethtrade fails to do so.

#Red Flag 3 – High, Unsustainable 25% ROI

I have years of experience in investments. Historically, investments in most large corporate stocks return less than 10% per year. Usually, HYIP scams offer between 1 percent to 2 percent daily profits to its members.

The Ethtrade discloses their investment plans with no aim to hide its absurd and unsustainable returns. The provided calculator shows how it earns you a 25% ROI on monthly basis. To me, it is a total nonsense.

The funny thing is the investment plan returns a perfectly steady positive income percentage regardless of any external variable such as price volatility. Don’t you think this sounds a little fishy?

The ROIs that they claim on the official page clearly indicate that the investment is actually a Ponzi scheme or a junk bond that may never increase in value and has a high rate of default.

#Red Flag 4 – Removal of Partners’ Logos

In June 2020, ethtrade.org used to have logos of ConsenSys, Maker, Slock.it, Digix and EtherParty at the bottom of their home page. All of these companies have then requested them to take down the logos as they have never worked with Ethtrade.

#Red Flag 5 – Sign of Ponzi

Ethtrade offers offer referral commission program that looks really fancy. It is a good way to make extra money. I understand that most investment companies offer affiliate programs, but by looking at what they are offering, it does look like the entire “trading” system is sustained by it’s Ponzi scheme.

For a real investment company, this would equal giving away the entire (if not more) profit margin. This is a typical trick from most of the HYIP on the market. They offer to reward “referral fees” to investors for bringing in additional members.

That’s how a Ponzi scheme is operated. They recruit new members to sustain the pyramid scheme. They need “new” money to generate “returns” for the older investors by acquiring new investors.

It is a fraudulent investment scheme where they pay returns to its investors from new capital paid to the operators by new investors, rather than from profit earned through legitimate sources.

It is a pyramid scheme that typically collapses in the end because it requires exponential increases in participants to sustain the business model. That simply means the scheme cannot go on forever.

Ethtrade probably still pays their investors for now as the program is still relatively new on the market. When there is insufficient investment fund from the new recruitment to the older investors, the entire structure will collapse.

Conclusion

I am not a fan of these HYIP programs. It is very rare that I recommend them because there are some things you need to know before you dive into this and throwing your hard earned money around.

Every investment carries some degree of risk, which is reflected in the rate of return you can expect to receive. If your money is perfectly safe, you’ll most likely get a low return. High returns entail high risks, possibly including a total loss on the investments.

Fraudsters like Ethtrade spends a lot of time trying to convince people that extremely high returns are “guaranteed” or “can’t miss.” They try to plant an image in your head of what your life will be like when you are rich.

Don’t ever believe it.

Based on my observation, it is very clear that Ethtrade is an investment scam.

I reviewed some other similar HYIP in my blog too like Coince, Amaing 5 and Capital7. They both work the same way as Ethrade.

Ethtrade works pretty similar to Forex Paradise, where the company claimed it was registered in Hong Kong and survived for three years. Many victims lost their hard earned money in October 2020 when they disappeared of all sudden.

Why do people keep joining HYIPs knowing that they are Ponzi schemes?

GREED!

All these Ponzi Schemes aim at people who want to get rich quick and do not want to take the tried & tested route of – hard work = success.

Most people want to make lots of money quickly and the legal options are often very limited (e.g. Lottery). When a product promises to give you exorbitant returns, people tend to believe it due to our greed.

However, most of the people end up losing their savings and hard-earned money.

I wrote an article on How to Invest Online Without Being Scammed. This should serve as a reference when you look for a legitimate investment company on the internet.

Rare Opportunity to x10 your investment

Etherparty is selling 40% of their “IPO” token in their presale and the token that is purchased at the price of $0.10 during the presale and public ICO (now). Tokens that are owned will be priced at $1 USD or the highest traded market price in the later stage. It is definitely a superb investment opportunity. Read more about this “IPO” on Is It Worth Buying FUEL Tokens Through Their ICO?

Please note that it is a capped token sale, which means the number of tokens for presale is limited. The presale will be closed once tokens are sold out anytime between now and the public crowdsale on 15 th September 2020.

Recommendation

Why get scammed by HYIP that only run away with your money and not putting your hard-earned money in a legitimate investment opportunity such as Bitcoin? The world is becoming ever more reliant on the internet.

So, really:It is no surprise that Bitcoin, a secure, global, and digital currency has claimed the interest of investors. Bitcoin is open to everyone and provides an exciting opportunity to delve into an entirely new asset class.

Bitcoins are scarce and useful.

Let’s look to gold as an example currency. There is a limited amount of gold on earth.

As new gold is mined, there is always less and less gold left and it becomes harder and more expensive to find and mine.

The same is true with Bitcoin.

There are only 21 million Bitcoin, and as time goes on, they become harder and harder to mine.

How to Invest in Bitcoins and Where to Buy

The difficulty of buying bitcoins depends on your country. Developed countries have more options and more liquidity.

Coinbase is the world’s largest bitcoin broker and available in the United States, UK, Canada, Singapore, and most of Europe.

Final Word

I don’t like the reliance on Ponzi scheme in order to make bad money. I do not believe in HYIP because they are too risky and most of them are not legitimate.

If you really want to make some investment, you could possibly look into legitimate companies such as Genesis Mining. It is a company that sells mining contracts for Bitcoin and Ethereum.

At the time of writing, Ethereum has just risen from $10 to $50 in March 2020. From this recent hike, I have made approximately 400% profit ($21,300) from Ethereum that I purchase from Coinbase. It is one of the most promising cryptocurrency as it has recently been recognized by a few big brands such as JPMorgan Chase, Cisco Systems, Inc, Bank of New York Mellon Corp, Microsoft, and other 30 big corporates to create a partnership know as the Enterprise Ethereum Alliance (EEA).

Read more about Ethereum in this post – What Is Ethereum and How to Make Money With Ethereum?

Valutai Review: is Valutai.com a Scam or Should I Invest?

To be candid you would only waist your time clicking on ads on their website. I have wasted valuable time and
money working on this website that promised a lot. I also tried an option on the website that gives the opportunity of upgrading which they claim would increase your chances of increasing your revenue. This program is a scam; they only get your time and attention and give you nothing in return. If you are serious about making money .

This paid to click company “1dollarptc.com”promise you at least $1 for every click on advertisers websites. They offer paid to click, paid to read, and paid to sign up. You get $25 for every sign up. You can request for payment when you reach a minimum of $5000.

Do not join them. It is a scam.

I registered a while ago when referred by a friend who already reached the minimum payout, after two weeks of clicking ads, I made $1000.I strongly advice everyone against this program is that my referrer never got paid. I’m not surprised because no online program would promise such an outrageous amount on clicks and fulfill it promise.

Pradeep Malani says :

Hell I am Pradeep Malani,I am joint to 1 dollar ptc website, i was worked in it i am reach at payout limit but when i was request for payout 5000 ,they was paid this payout but instead of 5000 he was paid only 0.04 that means its bogus compney

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harikiran challa says :

hi sir i am frm india i was very much intersted in 1dollarptc.com i have a dout abt the site only by clicking the ads u going to pay with out any registration charges n wht is the period of duration of ur payment n hw u going to via dirct deposit through online a c r other kindly clarify the dout

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I recomend staying away from these websites myself. If it looks to good to be true then that is exactly what it is. How do I know? I was a part of these websites when they first started and too many excuses from the Owners about why I was not able to get paid. I hope my testimonial deters others from wasting their time on this website.

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Kevlon10 says :
Why should I trust?

Sounds like a con to me. These kind of sites offer the world and deliver nothing. Reminds of the old pyramid selling sites. My brother in law raved on about one a few years ago that he said was foolproof. Him and his mates paid 150 each to join. Within 3 years the company had changed hands. They never did get that money back. At the time the site was home to tens of thousands of customers all paying 150 joining fees. You think about the fat cat at the top who claimed all that money?

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Vital Expressions says :
Why should I trust?

$ 150 seems like way too much of a charge to be able to work on the internet. I would rather use a free site like swagbucks, sure it slow going but it’s nice to be able to do what I normally would do, search the internet, and get paid to do it. Even if it does take a while I was doing it anyway. To have to pay to click an absurd amount for things I wasn’t interested in the first place just seems crazy.

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This is one of the blacklisted PTC sites and don’t ever try to register with this because it will only waste your time because they will never pay you. You should not register with PTC sites with the name Dollar because most of them turned into a scam site.

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shorty says :
Why should I trust?

If you have to pay to work consider it a scam in order to work anywhere doing anything does not consist of paying others to make money

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MZtech says :
Why should I trust?

Hi The legit and paying paid to click sites that I have joined doesn’t charge any amount upon registration. In fact some offers to pay you just for registering. And yes you get paid simply by clicking on ads because advertisers are paying for publicity of their product or services. Pay rates per click are usually less than a cent. If a site offers 50 cents or higher for a single click, more or less it is a scam. And if they ask you to deposit certain amount for processing your payout, most likely it is also a scam. Before you could earn a sensible amount from paid to click sites, you need to invest either money or time. Also take note that even if it is a legit site and have been paying for years, that would never be an assurance that they won’t turn into scam one day. So in investing money, just invest an amount that you are willing to gamble.

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kenrino replies :

I have registered and tried the site ` 1dollarptc.com, but to be candid, no one has ever been paid who reached the minimum payment. a message was sent to the members last month telling them the payouts would be made on the 15th of october, i advice you to wait till then, to know if they would eventually pay before registering . i will let you know if they eventually pay. you may add me to your yahoo messenger list , so we can talk more about opportunities you can also grab on the internet. i`ll give you where you can ,make money without spending any money. my yahoo ID is paykenny yahoo.com, meet me on messenger. thanks

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kenrino replies :

Like i said earlier on. 1dollarptc.com is a scam. Dont join this site. they will never pay you after reaching payout. My friend who was involved reached the minimum payout, he requested for payment and was alerted sometime later that it has been paid into his account, but he never received this payment. Dont join this program. they will only waste your time. Join me on yahoo messenger with this ID. i will show you lehgitimate online bussiness that will make you a lot of money without you spending at all. you will make money without investment. Yahoo messenger– paykenny my email – paykenny yahoo.com

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ami47 says :

hey i too joined 1dollarptc but after reaching 1500 the website is not opening on my computer.

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Marg says :
Why should I trust?

To be frank you shouldn’t expect to be paid. I completed a few offers a while ago, but wasn’t paid either. Also it’s not just an issue on your end because 1dollarpt appears to have been shut down entirely.

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jing44 says :

i signed up with 1dollarptc i have reached 2800 dollars on my account. i emailed them to ask if i can upgrade my account using my earnings and to also report that i the timer does not go on when the beelink appears. Since then when i open the links ERROR appears on the timer area. i also read a blog where the owner says that the 5000 is not your real earning you only get like 6 cents for all your effort which is not worth it.

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gautham says :

YES ITS A 100 SCAM.I REACHED MINIMUM CASHOUT AND WHEN I WITHDRWED IT TOKK 5 DAYS AND STILL IT IS NOT TRANSFERED

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Christofer Gustavsson says :
Why should I trust?

I am sorry my friend, but you should not expect it to reach your account ever. Most of these GPT or PTC sites that I have encountered are fake and they never pay. So, I’ll recommend everyone to stay away from these.

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chaizon says :

of course this site is a scam I was on this site for a few days and reached about 1500 something told me to actually read the terms and I found out this site has in its terms that until u reach 5 TRILLION yes trillion they will not pay you and they have the right to take what you have already earned if you request a withdraw before reaching the 5 trillion amount. this site is a joke and scam and this is not the only one so if you are still trying to earn money clicking you need to definitely read the terms and make sure the site is legit.

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nitesh says :

hey i too joined 1dollarptc but after reaching 1864.12 the website is not opening on my computer.

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I had this happen to my account and then the next day my account was GONE I am not trying to get you sad and upset about this website, but as I said in my previous post on this topic, I strongly recomend not wasting your time on this website that this discussion is about, thinking you are going to make BIG MONEY because you will just get frustrated in the end.

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A hameed says :

Hey everybody well till now my balance in 1 dollar ptc is around 1500 and i already m tired caz of doing so much clicks to be honest i have been doing Trading in intl markets also n lost thousands of dollars already so i though that i might be able to earn some money from it but it seems that its not going to happen one intresting thing is that most of the scam alert websites have already shown it a scam but except one that is boyecotte ptc they r showing it the as a real recommended site i think they have paid them to do so. think some survey sites r good well dont know really

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I am glad that this happened. They were wasting people’s valuable time on only collecting money from them making promises they continued to be unable to keep. We all need to keep informed about the real opportunities that do offer money compensation for their time invested in it.

U.S. Initial Jobless Claims

U.S. Initial Jobless Claims

Initial Jobless Claims measures the number of individuals who filed for unemployment insurance for the first time during the past week. This is the earliest U.S. economic data, but the market impact varies from week to week.

A higher than expected reading should be taken as negative/bearish for the USD, while a lower than expected reading should be taken as positive/bullish for the USD.

Release Date Time Actual Forecast Previous
Apr 09, 2020 08:30 6,606K 5,250K 6,867K
Apr 02, 2020 08:30 6,648K 3,500K 3,307K
Mar 26, 2020 08:30 3,283K 1,650K 282K
Mar 19, 2020 08:30 281K 220K 211K
Mar 12, 2020 08:30 211K 218K 215K
Mar 05, 2020 09:30 216K 215K 219K

By Geoffrey Smith Investing.com — Another 6.61 million American filed initial claims for jobless benefits last week, fresh evidence of the dramatic decline in the economy caused by the Covid-19.

By Peter Nurse Investing.com – U.S. stocks are set to edge lower Thursday, with investors happy to bank some of the recent gains ahead of key unemployment data that could illustrate the depth of.

By Peter Nurse Investing.com – European stock markets pushed higher Thursday, as investors took in the strong gains on Wall Street overnight but remained cautious ahead of the resumption of talks on.

Analysis

The Gold futures contract fluctuated on Wednesday, as it gained 0.04%. The market is going sideways following its recent rally. The price of gold has reached a new medium-term high of $1,742.60 on.

COVID relief rally fadesAll eyes on jobless claimsNikkei -0.04% Dax 0.42%UST 10-Year 0.74%Oil $27/bblGold $1664/ozBTCUSD $7313 Asia and the EUGBP UK GDP -0.1% vs. 0.1% North America OpenUSD Weekly.

Gold prices ticked higher in early trading on Thursday, as investors sought to mitigate risk ahead of the US jobless claims release, an OPEC+ meeting and the long holiday weekend.The Organization of.

Initial Jobless Claims Discussion

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How to Invest in Thailand and Should You?

Last updated September 14th, 2020.

Thailand is often the first stop for tourists in Asia. Its capital of Bangkok is the world’s most visited country with more than 21 million arrivals last year.

As such, many people getting their first glimpse of emerging Asia wonder how to invest in Thailand.

We don’t think Thailand is Asia’s best place to invest. Despite that, some people enjoy the country’s lifestyle. They want assets in the country for both personal and financial reasons. Perhaps they want a second home more than an investment.

There’s something to be said for investing and/or buying property in a country which is enjoyable and familiar to you. Even if it’s not the best place to make returns.

Most foreigners invest in Thailand though one of two ways: either buying property or stocks, although there are less traditional assets too. None of these methods require living in the country, but there’s several important things to keep in mind.

Buy a Condo in Thailand

Condos in Thailand can be legally owned by foreigners with the title in their own name. But there are a few restrictions and rules which must be followed.

First, no more than 49% of the floor space in a single condo project can be owned by foreigners. This is rarely an issue in practice. Almost every development is well below this threshold.

Second, and most importantly, the money used to buy the property must be foreign currency transferred into Thailand from abroad. The exchange of foreign currency into Thai baht must be done in Thailand, by a Thai bank.

Make sure to check the wire transfer form very carefully when sending money into Thailand. If your sending bank does the currency exchange itself (which it often does by default), the result will be an expensive delay.

A more detailed guide to buying property in Thailand can be found here. It’s fully comprehensive and covers everything from tax implications to location analysis.

Buy Stocks in Thailand

To buy stocks in Thailand, you obviously need a brokerage account. All of the country’s large banks offer savings accounts, brokerage accounts, and usually even a selection of mutual funds.

Bangkok Bank, Siam Commercial Bank, Krungthai Bank, and Kasikorn Bank are Thailand’s big four.

It’s easy for almost anyone to open a bank account in Thailand, provided you visit the right branch. But it’s difficult (if not impossible) to open a brokerage account if you’re on a tourist visa.

This might not include you. If you’re living in Thailand on a long-term visa, just go over to the head office of any large bank and they’ll set you up. It could be slightly more difficult if you’re an American.

Otherwise, your only option is to open a brokerage account outside Thailand which can trade on the Thai stock exchange. Several banks in Singapore can do this, as well as BOOM Securities in Hong Kong. The latter is able to open an account remotely.

Is it a Good Idea to Invest in Thailand?

There’s a few good reasons to invest in Thailand. Its currency, the Thai Baht, is one of the best in Southeast Asia. It’s far superior to the Vietnamese Dong and Indonesian Rupiah, for example.

Over the past few years, the baht has been more stable than even the Japanese Yen and Singapore Dollar.

But GDP growth is weak. Many countries in Western Europe are even growing faster than Thailand right now. It’s difficult to call something an “emerging market” when it’s only growing by 3% per year.

Some neighborhoods and cities have dangerous levels of supply too. Pattaya’s real estate market is imploding because of too much supply and weak demand. Meanwhile, one bedroom condo units have flooded the market in several suburbs of Bangkok.

Don’t get me wrong: there’s still some deals to find. But you’re better off buying property in faster growing countries such as Cambodia, or even Malaysia, if your primary goals are investment and returns.

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