In this review we explain problems that we have with Cryptosky, the digital currencies hedge fund.
The Cryptosky hedge fund is about earning money with cryptocurrencies. Currently alleged professional traders generate profits for users, later there should be a new cryptocurrency called Excoin, a new exchange called MyEXchange and crypto mining.
There are several investment plans with up to 15.2% profits per month. And you can add more than 10% from deposits of people you refer to this program.
So, is it a good investment opportunity?
What we don’t like about Cryptosky
In our opinion there are too many red flags with Cryptosky, let’s go through some of them.
Dubious company, no licence
Cryptosky supposedly is a hedge fund. So, it has to be licensed by the Financial Conduct Authority, since it is based in the UK. It does not matter that it is trading with cryptocurrencies that are not regulated, once you are collecting money from the public with the purpose of paying profits later, you are in the regulated territory.
But Cryptosky has no licence whatsoever. Therefore, it is an illegal investment program. That’s a fact.
Now let’s have a closer look at the company Finance & Crypto Solution Services Ltd that is behind Cryptosky. It has a tax registration, but as we explained above, it is not enough to make it a legal investment program.
But the interesting thing is people who are behind this company. The first director was Lee Christopher Gilburt, who is involved in 976 companies in total! And the role of secretary belongs to Form Online Ltd, which is involved in 760 companies in total!
This makes Finance & Crypto Solution Services a very dubious company that was created purposely with no plans to make real business.
What about the numbers?
While 15.2% per month is achievable in cryptocurrency trading, the problem is that Cryptosky doesn’t show any proofs or real successful trading. Who are these alleged professional traders? Why are they anonymous?
Moreover, Cryptosky has a deep referral program, which is not usual for real hedge funds, but it is common for Ponzi scams.
When we consider everything we explained in this review, we think that Cryptosky unfortunately is a Ponzi scheme, which means that there is no real business activity going on, just a financial game doomed to collapse.
Conclusion
There are too many red flags about Cryptosky, it is an illegal investment program, so we recommend staying away from it.
Even with cryptocurrencies you should stay in the regulated territory as much as possible to have your money protected. You can try crypto trading on a demo account with a regulated broker.
Carefully choose your cryptocurrencies and remember that money can be made, but also lost in trading.