A reader asked if Allcoinhodler a Scam. Allcoinhodler promises to double your money in 7 days by trading cryptocurrencies. That will never happen. Here’s why.
Is Allcoinhodler a Scam? Allcoinhodler is a Scam. Allcoinhodler guarantees to double your money in 7 days. That is impossible. You cannot make money with Allcoinhodler. You can only lose money.
Follow me as I expose the many lies and deception of the Allcoinhodler website.
Anyone who promises you a guaranteed returned on investment is probably a scammer. (FTC)
Why Allcoinhodler is a Scam.
If you deposit money with Allcoinhodler.com you are only giving your money to a stranger in a foreign country. You will never see your money again.
Allcoinhodler uses dishonesty and deception to trick people into giving them money. The use of dishonesty and deception to take money from people is the definition of a scam.
Allcoinhodler wants you to believe you are investing when you give them your money. You’re not. You’re just giving them your money.
We don’t know where Allcoinhodler is based because it hides all identifying information about their business. We do know it’s not in the United States.
The physical addresses on the Allcoinhodler are incomplete and meaningless.
Allcoinhodler is a scam on multiple levels. The promises and guarantees on the Allcoinhodler.com website are lies. No one can guarantee you will make money. The United States Federal Trade Commission tries to make this fact crystal clear on their website.
Incidentally, trading cryptocurrencies is NOT investing. It’s speculation. No licensed investment professional would ever suggest putting money into cryptos is investing.
Allcoinhodler promises that all deposits in United States dollars are insured up to $250,000 with FDIC. That is a lie of mammoth proportions. The FDIC only insures deposits in banks and only banks in the United States. Wherever Allcoinhodler is, it most definitely is NOT in the US.
Also, it’s worth noting that cryptocurrencies are not backed by any government anywhere in the world.
Allcoinhodler claims to use a special high-frequency trading software that forecasts when the price of cryptocurrencies will double. Do you believe that? That’s impossible.
The only software that Allcoinhodler uses is software that magically turns your money into their money.
Read the Allcoinhodler Risk Disclosure!
Read the Risk Disclosure at the bottom of the Allcoinhodler website. It clearly says that trading cryptocurrencies is very risky and that you could lose all your money. If Allcoinhodler is warning you that you can lose all of your money, you can bet your boots you WILL lose all of your money.
Trading Cryptocurrencies is NOT Investing.
Trading cryptocurrencies is NOT investing. It’s speculating and that’s assuming you are trading with an honest broker. Allcoinhodler is not an honest broker. It’s not a broker at all.
Real investing is based on the premise that you know the true value of an asset and can buy it low then sell it high. You cannot do that with cryptos because you cannot determine its intrinsic value.
Cryptocurrencies are nothing more than a snippet of digital code. They have no intrinsic value. Because they have no intrinsic value, it is impossible to know if you bought low or if you bought high.
The entire cryptocurrencies market is unregulated. If you get ripped off in a cryptocurrency trade, there is nothing you can do about it. You just got ripped off.
Making money with cryptos is dependent on finding a bigger fool to buy what you bought. That’s a lousy way to try and make money.
The testimonials on the Allcoinhodler are all fake. Search Google for the images on the Allcoinhodler testimonials and you’ll see that Allcoinhodler stole them from other websites.
Here’s how to search Google for the images on the Allcoinhodler website. Right click on the image and pick “Search Google for Image.” You’ll go to a page of results where that image also appears.
You can see for yourself that Allcoinhodler stole the images from other websites.
Allcoinhodler is NOT a Licensed Broker.
Allcoinhodler claims that their investors include the New York Stock exchange. That’s impossible. The New York Stock exchange is not an investor. It’s a stock exchange.
Allcoinhodler website also claims that Andreessen Horowitz and Union Square Ventures are investors. Andreessen Horowitz is a venture capital group specializing in Silicon Valley startups. Their portfolio is available on their website and Allcoinhodler is not in it.
Union Square Ventures is a ventures capital group and publishes their investment portfolio on their website too. There is no mention of Allcoinhodler.
Allcoinhodler is NOT Regulated.
Allcoinhodler is not regulated. No government agency or consumer group is regulated Allcoinhodler business practices. Allcoinhodler is not constrained in any way by legal or ethical policy.
In other words, Allcoinhodler can say and do whatever they want. And, what they want is your money, as much of it as they can get.
Read the Allcoinhodler Terms and Conditions.
Read Allcoinhodler Terms and Conditions and you’ll see that the information on their website is meant to be educational. It is not meant to be investment advice. The Allcoinhodler Terms and Conditions clearly state they are not an investment company.
Allcoinhodler is NOT an Exchange.
Allcoinhodler claims to be a cryptocurrency exchange and promises to convert your crypto to local currency for a lower price than other exchanges. However, Allcoinhodler is not mentioned anywhere online as a crypto exchange.
Payment in Crypto.
If you try to trade with Allcoinhodler they will insist that you deposit cryptocurrency with them to fund your so-called investment. They want you to pay them in crypto because once they have your crypto there is no way for you to get it back.
Low Trust Rating – Unsafe.
ScamAdviser gives Allcoinhodler.com a Low Trust rating and reports the website may be unsafe.
Is Allcoinhodler.com a Ponzi Scheme? Allcoinhodler is a scam. It is not a Ponzi scheme. A Ponzi scheme does pretend to be an investment, like Allcoinhodler. However, the difference is a Ponzi scheme will pay investors money that other investors paid into the scheme. That does not happen with the Allcoinhodler scam. Allcoinhodler does not pay anyone anything. Money only flows one way with the Allcoinhodler scam. Money goes in, but it never comes out.
Is Allcoinhodler.com a Pyramid Scheme? Allcoinhodler is a scam. It is not a pyramid scheme. A pyramid scheme pretends to be a business opportunity and makes money by recruiting people into the so-called opportunity. Allcoinhodler does not recruit anyone. It just takes people’s money and gives nothing back in return.
If you found this article helpful or have experience with Allcoinhodler, please leave a comment below. Thank you.