Who hasn’t heard of Bitcoin these days? It is the first cryptocurrency that was introduced back in 2009 by a mysterious individual or group referred to as Satoshi Nakamoto. Back then, it hadn’t made a lot of waves, but today, it has become the hottest trend in the financial markets. Bitcoin spawned an entire industry of cryptocurrencies and there are more than 6,000 cryptocurrencies that can be found in the market nowadays. However, despite all this, Bitcoin remains the leading cryptocurrency by market capitalization and its popularity hasn’t dimmed since it reached its peak in 2017. Therefore, it is not surprising to know that more and more people want to invest their money in Bitcoin.
When Bitcoin hit $20,000 in 2017, it helped numerous investors make massive fortunes overnight. Now, people just want to repeat the same success so they can also get such solid returns on investment. The good news is that investing in and trading Bitcoin has become easier than ever, thanks to the internet. You can easily find a number of platform these days that are willing to cater to those who are interested in putting their money in Bitcoin. Nonetheless, caution needs to be exercised because cryptocurrency scams are also rampant and you don’t want to be a victim of one.
The problem with these scams is that they have become very sophisticated, which makes it difficult for people to identify them. GladiaCoin scam is an excellent example of this.
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What is GladiaCoin?
In simple terms, GladiaCoin is a Bitcoin trading service that promises to provide people the ability of achieving financial freedom via the magic of Bitcoin. Sure, having one Bitcoin is good, but what could be better than that? Having two Bitcoins. This is exactly where GladiaCoin scam comes in because it claims to double the number of Bitcoins you have in just 90 days with the help of a binary network. The company claims that you don’t have to participate in any ‘boring activity’ and will receive your Bitcoin earnings on a daily basis. They promise returns of between 5% and 15%.
Some other advantages that GladiaCoin claims to offer include complete automation, which means that people literally don’t need to do anything at all for doubling their Bitcoin. But, the most appealing feature of the GladiaCoin scam is that it promises to be simple to use for beginners. Obviously, all of this sounds very attractive. In fact, it seems too good to be true. Should you believe it? Or is it really a scam? In order to determine this, you need to take a close look at how GladiaCoin really works.
How Does GladiaCoin Work?
It is the norm for companies to describe and explain their products, services or methodology to their potential clients in hopes of contracting them. But, it seems that GladiaCoin has taken a completely different approach. Rather than providing any information about how their trading service, which has been operating in the market since December 1st, 2016, works, they have just chosen to outline the benefits they offer on their website. What are these benefits? Some of them have already been mentioned above.
First and foremost, it can double your number of Bitcoins within 90 days. The binary network they have developed can provide returns from 5% to 15%. It is easy and simple to use and offers complete automation. The payments are made daily so all your earned Bitcoins are deposited in the registered wallet by the system automatically and you don’t have to request a withdrawal. You don’t have to indulge in any tedious activities as the Bitcoins will be duplicated without requiring you to do any daily tasks. From receipt to payment, GladiaCoin offers complete blockchain integration and there is real-time tracking available with a full back office at your disposal.
These are all the benefits that are listed on the website. However, there is no other information provided about how the service really works. Put simply, GladiaCoin is a multi-level marketing company and like any other such company, they don’t really offer any actual products or services. The product are the new recruits and the primary way that GladiaCoin can make money is by recruiting as many new members as possible. You will receive commission between 5% and 15% on every new member you are able to recruit. The more you pay at the time of joining GladiaCoin, the higher your commissions will be.
This is GladiaCoin scam. Companies that rely on new recruits as the product are considered illegal because they are essentially pyramid schemes. That’s the top reason that there is no official product introduced by GladiaCoin. They have defined their product as the ‘art of trading’ and this art involves purchasing Bitcoins for a low price and selling them for a higher price. GladiaCoin has managed to find a loophole in the Bitcoin world. Exchanges tend to list Bitcoins at different prices so they buy Bitcoin from one exchange and to sell it on another.
The red flag is that they claim they have professionals who will do this work for you and you can sit back and relax. Another indication of GladiaCoin scam is its lack of transparency. There is absolutely no information available about the founders of the company or where they are operating from. It is a given that when someone is interested in taking your money without explaining where they are keeping it, where it is going or where the company is based, you can rest assured that you are dealing with a scam.
The GladiaCoin scam also demands a substantial fee from their clients for joining their company. According to them, the more you pay, the more you will be able to earn. The lowest plan doesn’t let you double your money in 90 days; it is only when you choose an expensive plan that you will be able to double your money. From every aspect, GladiaCoin appears to be a scam and you need to avoid the service at all costs.