Even during these times of a global pandemic, cryptocurrency scams continue to show up all over the world. Epay-X claims to offer users a daily interest of 3% on their contributions, which is impossible to sustain.
It is not uncommon to see early stage Ponzi Schemes appear in the cryptocurrency industry.
Beware of EPay-X
Such projects have been prevalent years ago and still tend to show up in 2020.
Epay-X certainly appears to fall into this category.
While it is not just an investment platform, it is that aspect of the business which has people concerned.
Their “independent managers” will help users grow their portfolio over time.
It is believed that some will even be able to obtain high interest rates of up to 3% daily.
Those rates are impossible, unless one is operating an incredibly successful Ponzi Scheme.
Once new deposits stop coming in, existing EPay-X users will – more than likely – no longer be able to withdraw money.
No one should be fooled by the UK company registration number either.
Anyone can obtain such a number online for a cheap one-time fee.
None of the business models are even verified, nor is there a need to provide financial statements of sorts.
Cryptocurrency is all about putting users in control, thus there is no need to rely on external “managers”.