TeslaCoin Scam is the latest disaster in the crypto space. This platform has caused financial damage to a lot of users and the worse part is, they are still marketing themselves aggressively.
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We took a close look at their business model and we can guarantee you that it is nothing more than a cash grab. At first glance, their software and narratives might entice you. However, if you focus on the small details, you can easily see through their bluffs.
Unfortunately, a lot of people have already lost money to them which is sad to say the least. If you are a victim, leave a comment below and we will help you get your funds back at the earliest.
Continue reading to know more about this blatant scam that is causing boatloads of harm.
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What is TeslaCoin?
TeslaCoin is an automated crypto trading platform that supposedly has exceptional accuracy which in turn helps people make money in the crypto markets. Simply put, it is a type of get rich quick scheme that employs a lot of gimmicks, but guess what?
They never deliver their end of the bargain. Coming to the parameters, there is no solid information about anything. The indicators they use or the money management system the algorithm follows are unknown. Given the cloud of mysteriousness surrounding them, we would not even dare to proceed with them in any way.
How does it work?
The way this so-called miraculous algorithm works is still a mystery. In their web page, there is no information about the metrics used by them. Capital allocation is not explained, margin levels and risk protocols are not clear.
The worst part is, even the win rate and drawdowns are not covered by them. If they want us to believe them blindly, then it is heaps of irony, right? Whenever there is no clear narrative about the way a trading system works, it is always better to walk away from it.
After all, if we cannot know the odds, there is no clear edge in our favor. Trading is all about taking calculated risks, if the numbers are not clear, there is no pointing in taking a position.
This app does not promise any kind of fixed returns, they just exaggerate the accuracy rate and trick people into believing that they will be rich soon. Cryptocurrency markets are volatile and it is possible to make significant returns.
However, the underlying process is not easy or simple. Moreover, it is not something that can be delegated to a piece of software. If anyone promises you easy money, then you should always be skeptical.
Think rationally and if you cannot figure out all the parts of the equation, simply do not proceed further. Staying safe should be your number one priority.
TeslaCoin provides a virtual account, but there is a catch. The data feed does not appear to be real time. Also, the demo accounts typically show high win rates which will give wrong impressions.
If you dabble with it, do not let it fool you into depositing your money because when it comes to the real markets, we can guarantee you that this software will bleed out in the long run. Creating virtual accounts that artificially increases the win rate is a gimmick used by many sketchy software.
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So, always cross check things before depositing and focus on the details for your own safety.
TeslaCoin User Reviews
This hustle is relatively new and as a result, there aren’t many reviews about them. On a few sites, people have talked positively about it, but the negative comments clearly outweigh the positive ones by a large margin.
For the time being, the user reviews might not be big enough statistically. Nonetheless, sooner or later, truth will surface to the top and all we have to do to know the reality is wait for things to unfold.
Is TeslaCoin Scam or legit?
TeslaCoin is an obvious scam. The amount of gimmicks they use are way too much. Also, they blatantly lie and mislead people. We have nothing but horrifying things to say about them. It is clear that this platform won’t make money for anyone apart from the creators.
So, do not entertain their offers and regardless of what they tell you, do not trust them with your money or else the consequences are going to be too severe to say the least. In the future, stick with reputable companies that hold all the necessary licenses and do not look for shortcuts.
TeslaCoin Scam as we mentioned before is a deadly thing that unfolded in crypto space. If you have already deposited with them, then try to withdraw the capital as soon as possible. In case they refuse to hand over the funds, leave a comment below and we will guide you through the recovery process for free.
Have you encountered the TeslaCoin Scam? If yes, do your part and report them to the concerned officials.