Scam Alert: Avoid Trading With Cryptocurrency Scam CryptoAllDay

Although digital currencies have been around for over a decade, the concept is still foreign to many. Clients become more vulnerable to fraudsters because of having little or no knowledge about the decentralized economy. This piece highlights a scam broker CryptoAllDay and warns investors to avoid signing up with it.

CrytpoAllDay - A Quick Overview

CryptoAllDay (https://cryptoallday.com/) is an offshore company based in Seychelles. The entity deals in crypto trading services. Instead of providing a trading platform, it offers an investment wallet. The company encourages clients to deposit Bitcoins in its "safe and secure wallet" connected to multiple exchanges worldwide and access deep liquidity. Flexible account types and an educational facility also make part of the company's offerings. While live chat is unavailable, the company mentions a phone number and an email address to reach it. 

Is CryptoAllDay Regulated?

No, CryptoAllDay is not a regulated company. The firm claims to be a part of Petrasoul Ltd, registered in Seychelles. However, it hasn't shared any details except listing the company's office address. Importantly, we didn't find it in the Seychelles Company's Register.

Clients Feedback

CryptoAllDay has a bad clients feedback. BrokersView and other sites have received complaints from clients alleging that the site is fraudulent. Customers claim the company has no investment plan and does not refund deposits. Let us share some screenshots below.

What Makes CyptoAllDay A Scam Entity?

First, the company's website's poor design tells the company's competency level. Except for a landing page, everything seems to be a total mess. Even a newbie can quickly figure out that the people behind the website can't be professionals. 

Second, the company claims to have hired a team of expert fund managers to handle your asset portfolio yet not discloses the list of instruments available to invest in. 

Third, the company claims to be providing hedging insurance, though the platform's operations are not subject to oversight by any authority. Therefore, the platform in question may be engaging in an offensive activity.

How CryptoAllDay Scam Clients?

This service acts as a crypto wallet into which interested parties may transfer their cryptocurrency. After that, the company pretends to combine clients' funds with other investors and put them into various high-yield investment vehicles. 

According to clients, the company entices clients with lucrative bonus offers linked with vague terms and conditions, knowing that anyone barely bothers to read. 

After signing up with the company, It doesn't matter how often you request a withdrawal. The company asks you to achieve a specific trading volume before cashing out. 

Clients have even reported on Brokersview and other independent reviewers' websites that the company sometimes releases small chunks of money to gain clients' trust and encourage them to add more funds. Once the company realizes you have reached your limit, it either stops corresponding with you or blocks your access to your investment account. 

Bottom Line

To sum up, the business practices render it to be untrustworthy. Besides being an unregulated brokerage without proper authorization, the company also lies about having professional staff to look after your investment portfolio. Further, the company holds a poor reputation amongst clients. Therefore, we urge you to stay away from it. 

If you have trouble with brokers, you can contact Service@BrokersView.com.