Quick Summary of Crypto Money Maker
Rating: 1 It's yet another trading scam
The Good: None. This is a cash grab through a rebranded scam.
The Bad: The earnings claims are wildly speculative. There are numerous red flags raised in the sales page. The broker has had numerous complaints made against them. It's basically just Binary Options but with cryptocurrencies.
The Bottom Line: This method of trading is high risk and usually ends up with costing you money rather than making it, and is not the way to build a sustainable online business. If you're looking for a legitimate way to make money online check out my preferred method.
Crypto Money Maker Review
Over the past year, it’s been impossible to avoid hearing about the rise in cryptocurrencies as they move from an obscure niche to more mainstream adoption.
While not in everyday use just yet, cryptocurrencies have captured the world’s attention, especially with the rise in value of currencies like Bitcoin to unthinkable levels.
As with any technology or system that arrives and has the potential to make people money, scammers come out of the woodwork to muddy the waters and rip people off.
Today I’d like to discuss a system that you might come across via email or through recommendation, but one that I very much consider to be a scam: Crypto Money Maker.
Crypto Money Maker by Jordan Wood
While a cryptocurrency is designed to be used instead of dollars, euros or pounds, right now they are being used more like traditional stocks and are being traded by various brokers.
At its core Crypto Money Maker alleges that its special software is designed to help you trade cryptocurrencies in order to make a profit as it supposedly utilizes a “secret loophole in blockchain trading”.
Not only that but the system is designed to be an automated process.
This isn’t anything new, there have been hundreds, maybe even thousands of so called automated systems in trading for years. None of them actually work!
The main sales page for Crypto Money Maker has several issues that should concern you from the get go.
First off is the earnings claim. It states that you can make $1,350 per day yet the terms and conditions clearly state that you’re more likely to lose your money than make any.
Also $1,350 per day, every day is highly unusual in trading unless you have managed to find a stable stock and have invested a lot of money in it.
Cryptocurrencies are anything but stable!
The second issue is the testimonials. These cannot be validated and the photos used are actually from stock photos available on the internet. This combination suggests that these testimonials are just manufactured.
The third worrying element is the use of a single word: exploit. In this case Crypto Money Maker supposedly exploits the blockchain.
If that is the case then the cryptocurrency market will crash as the whole point is that the blockchain cannot be exploited! This claim is purely here to make the system sound good to anyone that doesn’t fully understand cryptocurrencies and how the work.
If the visuals on the sales page haven’t pout you off already let me break down some elements of the sales video that also raise red flags.
A common theme in in scams is to hate on gurus and scammers. The idea is for them to try to differentiate themselves from other scammers out there and to get on your good side because everyone who’s been scammed before likes to bash on scammers.
Another common element is this type of system is to remind you of your dreams. In this case Jordan mentions how he has earnt life changing money while cruising the Caribbean on his yacht.
While it’s true that you can make money from anywhere in the world so long as you have a decent internet connection, it doesn’t mean that what Jordan said about himself is true. Again, it’s purely a tactic to make you start wondering what you would do if you had lots of money in the bank.
Stories sell, and when it comes to selling money making systems, rags to riches stories seems to be the most told.
Whether Jordan’s story of him losing his job and trying every system out there before finally hitting the jackpot is true or not is kind of irrelevant. The aim is to make you think that Jordan, whoever he really is, is just like you, which means you too could go from rags to riches.
This might look good, but it’s NOT evidence that the system works.
As a psychological trick it usually works, which means you need to be aware that this sort of story is merely a tactic to put you in the buying mentality.
When it comes to complex, automated software like the one purported by Crypto Money Maker ther is usually a geek behind it. In this case they are only referenced as a “super stealth hacker and cryptocurrency developer”.
There’s zero evidence that this software even exists, let alone the developer!
As discussed below there is a broker used in conjunction with this software and with other trading systems like Binary Options it’s normally the brokers own white label software that is being peddled as some unique and highly advanced program but it is in fact generic and likely biased.
According to the pitch this software is not only fool proof but automated.
Apparently, you can make $500 a day without even knowing what a blockchain is.
That’s all well and good, but automated trading software THAT WORKS does not exist!
Seriously, if there was an automated process that worked, don’t you think we’d all be using it?
Another tactic used by less scrupulous marketers is called fake scarcity. While using scarcity is a popular and lefgit method in marketing, fake scarcity isn’t.
The idea is that by suggesting it’s a limited (in time or number) offer, you’re more likely to take the plunge.
By faking this scarcity systems like Crypto Money Maker bump up sales while never actually running out of product.
While it’s true that Crypto Money Maker itself doesn’t cost you money, it’s not the true reality.
Firstly, you’ll need to hand over $250 to the broker and this will likely increase as you lose money.
Secondly, by signing up you’ve just passed along your personal information and contact data and flagged that you’re a willing mark.
This will mean you should expect an increase in spam and sales calls, which increases the possibility of you being tricked into buying other, more expensive products.
Every trading scam out there has a broker behind it. The reason for this is the brokers provide them with the apparently magical software and also provide compensation to the marketer for every lead that signs up and deposits money.
While a lot of trading brokers out there are legit, when it comes to new trading options it’s a wild west.
The broker in this case is called MaxCFD and a quick Google search suggests that they have had a lot of complaints against them for bad trading practices.
As well as that, while their holding company operates out of London, the broker is registered in Cyprus. This is bad because currently the trading regulations in Cyprus are quite lax so a lot of dodgy companies set up shop there.
Binary Option Scams Rebranded?
These types of scams aren’t anything new. For years, scammers have been pushing binary option trading programs as guaranteed ways to make millions by doing nothing. That statement alone is enough to disqualify them of any sort of legitimacy.
This form of trading is very close to Binary Options in that you either bet the stock will go up or down in price. Binary Options is high risk and the systems and software surrounding it are mainly scams and cons.
The Bottom Line
Crypto Money Maker is effective a clone of a Binary Option system but instead of general stocks it’s focusing on cryptocurrencies.
While the cryptocurrency market is still very new and there is a lot of money to be made there, you should run far away from anyone who guarantees insane profits with no work or even any understanding of what you are actually trading!
Above all, if such an exploit did exist, the person or group behind it would have remained absolutely silent about it as the more people profiting from an exploit, the less money there would be to go around.
Basically, if you were mining and struck gold, would you immediately stand up and shout “HEY EVERYONE, THERE IS GOLD OVER HERE?” Absolutely not. You’d keep your damn mouth shut.
This combined with the multiple red flags raised in its sales pitch and the dubious nature of the broker lead me to one very clear conclusion: Crypto Money Maker is a scam!
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