Bitcgo says it is a trading platform for cryptocurrencies such as bitcoin. This trading platform has several investment plans that allegedly can make you money on autopilot.
The best plan promises a 5000% return after 35 days, which means a 50x in a little bit more than a month. Sounds crazy? It is crazy.
Clearly, Bitcgo is a simple scam made to make money to people who run it. It’s clear from the numbers, thousands of percent per month are just impossible any legitimate business activity, plain and simple.
In fact, it has just this basic registration that says nothing about its legitimacy. If it was a legit investment company, it would have the necessary licence from the Financial Conduct Authority.
But as you can see on our picture, it is not the case, Bitcgo is not regulated, therefore it is illegal.
How it truly works
But these schemes always fail in the end because withdrawals quickly exceed deposits. It is an illegal financial game.
Bitcgo is a scam that will take your money and sooner or later disappear with it. Stay away from it.
Nobody will make you money for free on autopilot, in investing it is about a solid and consistent strategy. You can try to create your own on a free demo with a regulated broker.
Don’t trade with real money until your strategy is sufficiently tested and proven.