Is Cashchain Investment Legit or Scam?
Cashchain-Review According to Chinma Udeji nigeriabitcoincommunity.
Lately, Cashchain has been on the waves with a promise of 100% ROI for investors in 3 days. Even, there are online video clips where some Nigerian celebrities vouched for the platform, encouraging the public to invest.
I had to quickly do my research on the platform to know how the magic is done. And I have shared my findings in this post. If you feel lured to invest in Cashchain, you should read this post to the end before making a decision.
Let’s get started!
Cashchain is an online investment platform that promises investors a 100% profit in just 3 days. Following the online ads I viewed for this platform, it seems to have been existing for over a year but I cannot say for sure.
Based on the company’s registration details on whois.com, Cashchain was registered in 2019 at Panama in Central America.
But a statement in the company’s Terms and Conditions page implies that it is operating under the law of the Netherlands, Europe. The founders of Cashchain are also not in the open.
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Judging from the information on its website, this platform was created to make members financially independent.
Let’s see how Cashchain intends to do that. Keep reading!
How Does Cashchain Work?
Cashchain admins claim that investors’ funds are used to trade Bitcoin and other currencies to triple the funds in less than 30 minutes.
The system then pays investors 2 parts of the earnings (i.e. double of whatever they invested). And the other part remains in the system.
For example, if Margaret deposits ₦50, 000. The system uses this ₦50, 000 to trade Bitcoin and earn ₦150, 000 in 30 minutes. Then it pays Margaret ₦100, 000 and keeps ₦50, 000.
All investors need to do is, sign up on the platform, choose a package, make payments, and earn huge profits (or, so they claim). Keep reading!
Cashchain Contact Channels
Two principal means to reach Cashchain admins are:
Support Ticket
Telegram – https://t.me/CASHCHAININVESTMENT1
The team rarely replies to queries sent via the Support Ticket; yet to get responses for the ones I sent.
And when I reached out via Telegram for clarity on how the platform works, the Admin was not willing to shed any light on my query.
So until you sign up, you will not get further information besides what is available on the site.
Moving on, I’ll try to answer the question that brought you here. Tag along!
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Is Cashchain Legit?
From where I stand, there is nothing that makes this platform legit. Below are my reasons:
a. Unknown Founders
The founders of Cashchain are not known. This means that the platform can fold at any time, and there won’t be anyone to hold accountable. And just as we saw earlier, the physical location of the company cannot be traced.
b. No Proof Of Payments Made To Investors
I searched for Cashchain on ‘Web Of Trust‘ and ‘Trust Pilot‘, no reviews were found. It means there is no proof that anyone has earned from this platform.
On the website though, there are 3 listed testimonials from supposed beneficiaries of the platform but we cannot work with that as no company will upload a negative review.
Also, in the Cashchain promotional videos that I watched (Vid. A and Vid. B), there was no mention of persons who have earned from the platform.
Plus, the comments on these videos show individuals who invested in this platform and are yet to receive their ROI. Have a look:
c. Inconsistent Information In Different Ads
I also noticed differences in the information provided in the different ads of the platform.
For the duration of time it takes for investors to get paid, some ads say 2 hours, others say 3 days or 4 days.
Even some ads have names of other investment platforms on it. Making the promotions appear like “copy and paste.”
Secondly, I cannot say whether Cashchain operates a referral program or not.
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From their Telegram page, I learned that there is no need for referrals but on the website, there is a section that says, “Your growth depends on how you build up your community and its growth, get more people in your chain and the sky is your limit.” Very contradicting!
d. I Did Not Receive Answers For My Query
Apart from the contradicting statements mentioned earlier, there are other unexplained statements on the website like over 400% ROI, online P2P network, 2:1 matrix, referral bonus, and auto-assign.
I tried getting answers using the support ticket on the website but it looks like it is there for fancy.
Then, the admin on Cashchain’s Telegram page was not willing to share any information beyond, “register with us and send proof of payment”.
He either does not know anything about the platform or he is just unwilling to give out the information.
So disappointing!
e. No Proof Of Trades
Furthermore, the system claims that investors’ funds are used to trade bitcoin and other currencies to triple funds.
However, there is no proof of the trades, or at least the name of the trading platforms being utilized.
f. Typos On The Company’s Website
I am not sure if this count but just in case it matters to you, there are lots of typos /grammatical errors on the company’s website.
You will find some in the image below, I marked them in yellow ink.
Based on these reasons above, it goes without saying that Cashchain is not legit.
It does not prove the means it intends to pay investors.
Conclusion
There is no mild way to put it – Cashchain is not legit. Don’t waste your money!!!
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