Is Masscoin Really a Scam? Here’s What You Need to Know

Masscoin Pros and Cons

Pros

• Masscoin offers a variety of cryptocurrency trading pairs.

Cons

• Masscoin is not licensed or regulated by any financial authority.
• It has a history of negative reviews from users.
• This site is not transparent about its fees and commissions.

How Does Masscoin Reach To Their Prey?

Masscoin uses a variety of methods to reach out to potential victims. These methods include:

• Running paid advertisements on social media and search engines.
• Sending unsolicited emails to potential victims.
• Promoting Masscoin on cryptocurrency forums and chat groups.

Technical Details of Masscoin

Minimum Deposit

The minimum deposit requirement for Masscoin is $250. This is a relatively low minimum deposit, which may make Masscoin seem more attractive to potential victims. However, it is important to remember that this is a scam, and you are likely to lose your money if you deposit any funds with Masscoin.

Trading Platform

Masscoin’s trading platform is a web-based platform that is relatively easy to use. However, the platform lacks some of the features that you would expect to find on a legitimate cryptocurrency trading platform. For example, Masscoin does not offer stop-loss orders or trailing stop orders. This means that you are at risk of losing more money than you intended if the market moves against you.

Spread

The spread on Masscoin is high, which means that you will pay a lot of money in fees when you trade. For example, the spread on the BTC/USD pair is typically around 5%. This means that if you buy BTC with $100, you will only receive $95 worth of BTC.

Leverages

This website offers high leverage, which can magnify your profits but also increase your risk of losses. For example, Masscoin allows you to trade with up to 100x leverage. This means that if you deposit $100, you can control a position worth $10,000. If the market moves in your favor, you can make a lot of money. However, if the market moves against you, you can lose your entire deposit very quickly.

Packages and Products They Offer

They offers a variety of packages and products to its users. These packages include:

• The Starter Package: This package costs $250 and allows you to trade with a maximum leverage of 10x.
• The Pro Package: This package costs $500 and allows you to trade with a maximum leverage of 50x.
• The VIP Package: This package costs $1000 and allows you to trade with a maximum leverage of 100x.

Withdrawal and Deposit Method

Masscoin offers a variety of withdrawal and deposit methods, including:

• Credit card
• Bank transfer
• Cryptocurrency

However, it is important to note that Masscoin has a history of delaying or refusing withdrawals. This is a major red flag, as it suggests that Masscoin is not a legitimate company.

What Do Their Previous Traders Say?

There are a number of negative reviews about Masscoin online from previous traders. These reviews allege that Masscoin is a scam and that users have lost money when trading with the platform.

Summing Up- Why Should Not You Trust Masscoin

There are a number of reasons why you should not trust Masscoin. These reasons include:

• Masscoin is not licensed or regulated by any financial authority.
• It has a history of negative reviews from users.
• Masscoin is not transparent about its fees and commissions.
• This site uses high leverage, which can magnify your losses.
• Masscoin has a history of delaying or refusing withdrawals.

If Bad Things Happen, Where Can You Get The Quick Solution?

If you have been scammed by Masscoin or any other cryptocurrency trading platform, you can contact the following organizations for help:

• The Financial Industry Regulatory Authority (FINRA)
• The Securities and Exchange Commission (SEC)
• The Consumer Financial Protection Bureau (CFPB)

But, all these organizations cannot solve all the cases at all times. You can get a quick solution from us after you submit your report on our website. We will provide you with some educational resources and service recommendations to help you in recovering the lost money.