Published on December 16th, 2019 | by Sara Kane0
Cloud Token Wallet Review (Price, App, Value)
Summary: The service seems lucrative, however, we advise caution and safe play.
Cloud token is a blockchain wallet that allows you to invest different cryptocurrencies at a single place to make profits. It is primarily not the software or a bot. In fact, it is an exchange for cryptocurrencies. Inside this wallet, you will find different robots and software to run automated transactions with an expectation of earning a good return.
Singapore fourth generation blockchain public team, named WBSA, introduced cloud token at first and Ronald Aai being the CEO. Simon Tran, being the blockchain influencer and investor while Mathew Swan is serving as the Tech Program Director. Like many others, there is no detailed and authentic information available on the internet about the contact details of the management of this cryptocurrency platform.
Cloud Token Review
This platform issues its own crypto token in exchange for the real ones. This makes it more suspicious because if it was a legitimate trading platform, why would it urge you to trade in a new currency? It could be a level higher Ponzi scheme, where it does not only collect the real cryptocurrencies from the general public and distribute the returns from the recruitment but also is issuing the profits in the form of a worthless currency which probably has no future!
Moreover, there is no valid document present to date, which makes us believe that this is a legit company. It has not submitted a single audited financial statement, which could show the trading activity and operations. This thing makes the suspicion even more significant that this wallet and artificial intelligence robot is not more than a scam.
Dealing in a cryptocurrency, which is decentralized in its nature does not mean that you have no regulatory registration requirements. Coinmarketcap.com is a great site to check the authenticity of these platforms. If a website is not listed there, it is probably a scam, and you should be aware of that before making any kind of investments in the form of real cryptocurrencies.
Cloud Token Strategy
As mentioned earlier, there are no proper records of this platform, and we cannot say anything about the policy of the company, with surety. However, it seems to be an arbitrage platform where the benefit is derived in a way of price differentiation of the same asset at two different markets.
In addition to the basic functionality of digital wallets, this exchange provides you with different features, which include a decentralized trading platform with multicurrency support, arbitrage facility, hedging, and automated investment transactions. The management of the cloud token wallet claims a 6% to 30% monthly return, which could a great mode of passive earning. But, is this really true? Before you invest your cryptocurrencies with this wallet, you should learn more about this wallet and the truth about this claim.
- Founded: 2019
- Strategy: Arbitrage
- Technology: Blockchain
- Investment: $500
- Trading Results: Not verified
- Located: Kalalau, Lumpur, Malaysia
Trading Results for Cloud Token
As there are no audited financial statements and no trading results, we cannot guarantee the return. If this is a legitimate platform, it should have years of track record because it takes ample time for a real trading expert to create such a portfolio. The non-availability of any such information adds more to the suspicion.
They show the order history, which is definitely of no interest to the real traders. There must be some third-party verified trading results on their website if they are a real investing firm. The mere availability of the account balances and the order history explains the Ponzi nature of this scheme.
There are other services similar to Cloud Token, that you may be interested in taking a look to gather a comparative understanding…
On their website, they have a page for testimonials, but sadly there are no proper third-party reviews present. Some recommendations are available on their social pages, like Facebook, and it shows a rating of 3.5 out of 5.
Cloud token first appeared to be entirely legal and regularized, but over time, it is found no more than a Ponzi scheme by most of the users. It is giving some cash back, but the conversion of real cryptocurrencies into the cloud token as a return appears a little fishy at this stage.
Some information about the owners and management team is available on their site, but you cannot contact them if you want to inquire about the legitimacy of the website. Some people are confident about the system because of the availability of android and iOS applications, and consider it a form of verification. However, this should not be taken as a certification because we have witnessed a lot of frauds been conducted through such applications.
It is essential to stay alert while making investments in such schemes because the more information scammers get about the failed fraudulent schemes, the more they prepare themselves for the upcoming ventures making them look more real and creating fake platforms to gather real cryptocurrencies.
Have you had an experience with Cloud Token? We’d love to hear your opinion about it, so leave a comment below…!
– Happy Trading!
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