Published on March 20th, 2020 | by Sara Kane0
Conomi review: The future of e-commerce or just another scam?
Conomi is a relatively new platform in the e-commerce world and one of the only ones that claims to do transactions via cryptocurrency. It is basically a cryptocurrency that offers e-commerce services. However, the site does not feature any listings and their claims that they are listed on popular cryptocurrency markets cannot be verified.
They have also provided contact information of their staff, even though the pictures are actually stock images. The physical address of the company is “120, Old Railway Track Santa Venera, SVR 9017 Malta”. They have not provided any information as to whether they are actually registered or not, so it is unlikely that they are regulated. Although, they do provide information on their team members and that seems like a credible group.
You may also contact them by e-mail at: [email protected]. Alternatively, they have also provided a contact number: 00356656796209. Other than this, the only way of finding whether the site exists is by visiting it at https://conomi.store/. While they have provided enough contact information, the registration details cannot be verified and may be incomplete.
Conomi is basically a third-party platform that aims to connect consumers with products via their own crypto coin. However, there are many holes in their strategy which makes it suspect. Before deciding whether to invest in this site, you should consider a few points that shed light on the Conomi website.
Another thing to keep in mind is that this site is relatively new and they claim that they are yet to launch, so there is no concrete way of knowing whether it will be a success. However, it is quite strange that they offer up to 15% return on investment without specifying the period. In fact, this should only be an estimation as the site is still relatively new. Another thing to keep in mind is that this site should not be confused with the more popular Coinomi app, which is a legitimate cryptocurrency wallet.
Conomi is actually a cryptocurrency trading platform. However, they have tried to connect it to an e-commerce model, even though they have not provided enough details on how this is possible. Basically, you are presented with a few investment plans, ranging from $2000 to $50000. These investments will be made in the platform itself, so you have to put your hopes on the platform performing well.
The returns range from 9% to 13% over a period of one year. This is actually quite a low return rate if you compare it with the interest that a bank will give you on a similar model. In fact, it is quite low for any model that does not provide a guaranteed return. It is also strange that the $20000, $30000 $50000 investments all have the same return. It makes no sense to group them separately.
Another major flaw of the Conomi project is the failure to explain its strategy in clear terms. Most crypto coins are based on a certain algorithm and are valued by the number of coins released as well as the difficulty in processing them. While other factors may also play a role, this is the first platform that tries to link it with e-commerce.
Although e-commerce is quite profitable, it requires an initial investment and customer trust, which is something that can only be developed over time. Conomi basically is offering a cryptocurrency, even though it is not listed on any crypto market of wallet apps. So how do they expect you to make transactions with this coin? The poor strategy certainly does not support their claims for consistent yearly returns.
- Product: Cryptocurrency/ E-commerce platform
- Trading results: 15%/year (unconfirmed)
- Registered: No
- Year of launch: 2018
As you can imagine, the trading results of Conomi is actually somewhat believable but there’s a catch… While they are not trading any currency, they are promising investors a fixed return if the coins grow well. However, although a return of 15% is achievable, they have not shown any proof that the coin is worth this much. In fact, this cryptocurrency is not even listed on any of the popular cryptocurrency listings!
Unfortunately, not many people have bought into the Conomi investment scheme. While they are really convincing, the strategy simply does not make sense to customers. However, the few people who have tried the site complained that the cryptocurrency does not exist and they wasted their money on something that does not even exist.
One of the main giveaways of the Conomi platform is the fact that it is not listed on any cryptocurrency wallet. Although the site has provided enough contact information and the strategy is decent, it cannot make up for the fact that you are investing in a non-existent cryptocurrency. The fact that they lie about the listing and their partners only makes it worse and will definitely repel any potential investors.
Have you been considering to do business with this company? Or, have you had an experience with Conomi already? We would love to hear from you in the comments section below.
$200 (minimum investment)
- Company has provided basic information (physical address, support email and contact number)
- The 15% return on investments seem somewhat believable
- Strategy not explained properly
- The claims on the promised return percentage, has no evidence
- They seem to be unregistered
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