- Cryptos OTC Trading is a pyramid scheme that functions as an investment platform.
- The business thrives on anonymity.
- There is no information regarding the founder, company name, or professional expertise.
- Investors should avoid platforms that operate in secret.
Many of these companies are disreputable and likely to break the law to avoid punishment. The law requires that companies collecting money from the public be transparent about their business practices.
You have a right to know the team’s qualifications, and reputable entities will have corporations managing their business.
Another concern is that Cryptos OTC Trading is not regulated. This offshore business is not following the regulations set by financial authorities. As a result, they may overlook jurisdiction and do the unthinkable to customers.
If you’re still unsure about what to look for when hiring a cryptocurrency trading firm, we suggest you seek help from an expert. It would also be beneficial if you dealt with reputable crypto businesses, the one that lists out its features and has years of expertise.
They should place the security of your funds above all else. Check their ratings on third-party review sites to see how others feel about them.
Cryptocurrency OTC Trading Review
To highlight the team, the firm is utilizing stock photos. This is an unethical marketing method. You shouldn’t expect good results if they can stoop to this level. Cryptos OTC Trading is a poor broker that does not maintain consistency in its lies. The platform uses stock pictures to depict a woman as CEO, whereas the sales video has a guy as CEO.
- This firm only began operating earlier this year.
- They do not have any trading history.
- The company does not provide trading products and services.
- Investors from all across the world are also among their target audiences. According to the fraud, it is based in the United States.
Cryptos OTC Trading is an offshore company. They’re not for you if you’re an investor. Citizens of the United States are their primary target audience, and the pyramid scheme continues to function if more people join.
However, the request to withdraw money will surpass the amount of money coming in. The early investors will be at an advantage. Those who join later on could find their money trapped. Introducing a family member or friend to a business with questionable ethics is wrong.
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Cryptos OTC Trading: Conditions of Trade
- Tether coins are deposited into the Cryptos OTC Trading affiliate program.
- The company says that withdrawals are completed every 2 hours.
- You must make a deposit each day to obtain a large daily ROI.
The ROI is between 3% and 4%. You may still get compensated if a new member you’ve invited signs up for your service and manages to bring in a client. You will receive a 15% commission at level one, while on level two, it will be 10%, and at level three, you will earn 5%.
The minimum deposit is $9. Cryptos OTC Trading is a fraud only if you put money into it carelessly. They aren’t a good way to make money. There are much better platforms that can help you create a passive income. A genuine firm will have documentation to show that it offers investment solutions. Transparency may be verified by an audit of the platform’s financials.
Customer Service and Contact Information
Some red flags are that the company uses a random address, and there is no way to get in touch with the support team. Ask yourself how you would solve a problem on the site before signing up. The company does not seem to have its customers’ best interests at heart.
Furthermore, it is absurd that they claim to provide amazing returns while not supplying good customer service. If you decide to seek your money, the salesperson will contact you with empty promises. They’ll either ignore or blacklist your number if you try calling them.
With the leading investment platforms, you will gain short-term and long-term benefits. They offer customer support via phone call, email, and live chat so you can always have peace of mind.
Looking for a serious & trustworthy trading platform?
The first thing to note is that COTP uses two domains: cotps.com and cotps.net. Both of these are interlinked, with cotps.net displaying pictures of the team running the entire operation – though it should be said that everything on this site is fake.
The images used on the COTP website are from a stock photo library and not of any actual employees. The individual in the video is more than likely a professional actor.
It’s proof of a scam to use fake pictures and claim that they’re the company’s leadership.
No FDIC insured
According to the company’s official website, all digital tokens kept in the Cryptos OTC Trading Platform’s app are FDIC-insured for up to $250,000 per person.
It is not, however. Only depository institutions licensed by the Federal Deposit Insurance Corporation are eligible for FDIC insurance. COTP is not one of them. Another important detail to consider arises from this fact.
Not regulated and illegal
COTP is registered in Colorado as a US company, but it’s not regulated even though it provides investment services. Consequently, COTP is breaking the law and operating illegally.
Don’t be fooled by the Financial Crimes Enforcement Network’s (FinCEN) registration of Cryptos OTC Trading Platform Limited. FinCEN is a financial crimes enforcement agency that isn’t involved in investment services or security token offerings.
According to FinCEN, being featured on its website does not confirm that a business is trustworthy.
Registering with the FinCEN is easy – you fill out a form online, and that’s it. The FinCEN doesn’t verify if you are an actual business authorized to provide your services. COTP investment service is unauthorized and illegal.
The office was filled with replicas, and the history was false.
The registered address of Cryptos OTC Trading Platform is 6547 N Academy Blvd, Colorado Springs, Colorado. According to the company’s website, they have 100+ employees.
When you look up the address, you discover it is a leased mailbox. COTPS also claims to have officially launched its platform in 2019, with more than 100,000 registered users one year later, in 2020.
The Cryptos OTC Trading Platform company was registered in October 2021, and the cotps.net domain was also registered in October 2021– as you can see from our picture.
There’s also cotps.com, which is a bit older but was previously owned by another firm, and Cryptos OTC Trading Platform took it over near the end of 2021. This photo shows that the domain remained for sale in June 2021.
To summarize, COTPS is lying about its past, it did not debut in 2019, it didn’t have more than 100,000 registered users until 2020, and it only launched in October 2021.
COTPS attempts to deceive you into thinking it’s a significant financial service provider in the cryptocurrency market. It displays logos of prominent banks Signature Bank, Dukascopy, and Swissquote and implies that they are crypto liquidity partners on its official website.
We contacted all three companies and inquired about their partnership with the Cryptos OTC Trading Platform. Only Dukascopy replied, but it was a response worth reading.
Dukascopy has confirmed that they have no relationship with COTPS, meaning Cryptos OTC Trading Platform is not authorized to use the Dukascopy logo on their website.
Regulatory Status of Cryptos OTC Trading
A registration form is not very useful for determining if an investment scheme is legitimate. The only thing that makes an investment scheme legit is for them to acquire a regulatory document. Many factors come into play when authorizing a scam to run.
It’s not possible to conduct OTC transactions with a reputable financial institution. The money would go straight into the con artists’ pockets. The only available payment option is crypto payment, so it’s impossible to issue a chargeback. Furthermore, you will not receive any kind of remuneration once the scam inevitably leaves the market.
The company intentionally remains anonymous, goes against the law by failing to report transactions, and is only interested in taking clients’ money.
The Crypto-OTC Trading movement attempts to influence investors by keeping traders’ accounts distinct. They also claim to have a total capital of $250,000. The US’s financial regulator requires a minimum of $20 million in the capital.
Clients’ Reviews of Cryptos OTC Trading
The fraudulent plan was generating daily returns of over 100% ROI. No legitimate investment platform can deliver results like these. Only two things are possible: the earnings are fraudulent, and you’re dealing with a swindle.
Cryptos OTC Trading schemes target new victims by bribing online marketers with high commission rates. If you see any glowing reviews about this scheme, beware that the writers have probably never made a dime from it.
Look for proof of payment when it comes to investment. It’s also important to be wary of phony testimonials and endorsements. Scammers are devious, employing many methods to deceive investors.
Can You Trust Cryptos OTC Trading?
Cryptos OTC Trading is not a reliable or safe investment. Multiple red flags have been associated with the company, including a lack of safety for funds and anonymity. The company also makes absurd high profits promises that we have not seen any evidence of.
The Ponzi scheme does not consider the safety of investors’ funds. You won’t be able to get your money back when you give them access to it. Furthermore, there is no license for the operation. They have the option of leaving the market without any penalties.
If you’re going to invest, do your research on the company first. This will help reveal potential problems and prevent you from working with a less reputable company.
Cryptos OTC Trading is an unreliable company. It operates without legal permission and doesn’t have contact details, fund safety, or a sound mechanism. The platform uses high returns to trick people into investing.
Is Cryptos OTC Trading a genuine company?
No, the entity is breaking the law.
Can Investors earn the advertised returns?
You will only lose money if you invest in this Ponzi scheme.