In the rapidly growing market of cryptocurrencies, platforms such as MevBridge skillfully present themselves reporting easy and fast trade accompanied by high earnings.
According to them, their bots assist users in earning money while they sit back and watch the software trade for them. However, do these promises ring a bell?
So before you go ahead and join MevBridge, let me help you understand what they are, and if they are worth the money and time.
MevBridge.com Claims and Promises
MevBridge is a decentralised finance or DeFi platform that employs trading bots to make passively generated income possible for users.
This integrates with Trust Wallet and runs on the Binance Smart Chain, making it quite easy to deploy and possibly highly lucrative.
It positions itself for beginners and has a referral programme on the site. Nevertheless, it is absent on the specific strategy for its trading bots and with no proofs to back up its claims, this should raise concern.
Why MevBridge.com Crypto Platform Is Concern
Lack of Proof for Returns
MevBridge says that users can get 69% returns every month or 0.002301 BCH/day, which is highly suspect. However, it stands with no proof or even clean statistics of how these bot earnings are coming into the platform with such profitability. Such figures may well be the product of speculation and a publicity machine, there being no verifiable results or third-party audits.
Absence of a Transparent Trading Strategy
A genuine trading platform normally would limit such strategies or keep them concealed or intended only for use by large investors. This is the main reason why it is an observed contradiction that MevBridge claims to be a successful business that is yet located in a public domain. In this regard, nobody really knows how the system operates or if it exists in the manner it has been marketed.
Anonymous Ownership
One major issue that should raise eyebrows with MevBridge is the fact that the website operators mask their identity making it impossible to know the people behind this platform’s formation and funding. A reliable platform should provide information on ownership in an attempt to make the programme to seem genuine. It does not help to keep the players who operate this system totally opaque which creates a difficult situation because if things do go wrong there is no one to blame.
Focus on Recruitment
That makes its business model strongly dependent on affiliate marketing and popular rewards for inviting new customers, instead of a real offering of goods and services. This is a common practise in pyramid schemes, or any scheme that is rather similar to a Ponzi scheme in execution – the organisation is more focused on the accumulation of new users than on the provision of services.
High Risk of Ponzi Scheme
Any platform that depends on investments of new users to pay earlier investors will soon turn into a pyramid scheme. Whenever the number of users has been increased the scheme [fails] and many people lose lot of money and the people behind the scheme also disappear.