Beware! CryptoContactsApp is most probably a scam system! Your investment may be at risk.
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
Crypto robots such as CryptoContractsApp are rapidly spreading and the Forex trading world is plagued by them. Often made in the most absurd manner – their websites remind one of slapstick comedy. In most cases all they have to offer is a simple, narrated trailer-video which, ideally, should convince traders to invest with them. With CryptoContractsApp we aren’t even presented with such a video. There is only a minute long cut from a CNN interview discussing the possibilities of crypto-currency trading. In fact, we learn absolutely nothing about the product the crypto robot purports to provide, there are only small irrelevant pieces of information scattered through the website such as the mischievous statement that the “application” has a 99.4 percent accuracy and its “software is ahead of the markets by 0.01 seconds.”From what we could gather – there appears to be some sort of autotrading application that needs only our initial deposit to begin filling our pockets with daily winnings. Attempting to register – they robot requires only a name and email – yielded no results as the website simply wrote out error despite filling out correctly the registration forum.
No name, no address, no number
After doing our usual research we come across disturbing, but not unexpected, results. It turns out that CryptoContractsApp is part of probably the most popular scam out there. Precisely through such websites, dressed up with farcical opportunities for winnings, traders are convinced to register and carelessly give away their address, phone number and email. Minutes later that same personal data is sent to brokers as “leads” and the registered traders begin getting phone calls from unregulated forex brokers like Capital4Bank or CCDFBank, urging them to invest. Cheap traffic is actually the product “CryptoContractsApp” and their “team of talented brokers” are offering, not some trading application ahead of the market that may incur riches to any willing trader.
No verified track record
Even if we choose to believe CryptoContractsApp about it’s new product – which we certainly do not advise – there are still problems. To put it bluntly – we have no assurance for results. In trading there are social trading platforms such as the Zulutrade where you may search through the profiles of different traders and see how much they are winning or losing before investing funds with them. This is done through tracking every deal they have made and even seeing the results of all the rest of their followers. Such transparency adds significant assurance and partially, if not fully, removes risk. Where as with half-baked and senseless websites such as CryptoContractsApp you are relying on blind faith.
No regulatory supervision
Furthermore, there is absolutely no regulatory guarantee about the whole product. The people behind the website do not fall under any regulatory oversight and their hands are untied to do pretty much as they wish. They also lack SSL encryption which compromises any information transferred through the website.
Last, but not least – the mere way in which such operations look for funds should raise major security concerns. If CryptoContractsApp truly did offer an exciting and legitimate product, it would have found an alternative way of financing itself, instead of relying on cheap traffic through a cheesy bait-clicking commercial about itself. They could apply for a credit at the bank or raise money through crowd-funding. Although, in order to do that successfully, they have to be legitimate – which they most likely are not.
All in all, CryptoContractsApp comes across as a standard scam operation – the likes of which we have seen a lot – and we advise those interested not to risk it.