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Is Bitcoin Wealth a scam or legitimate to invest in?
Reading the replies, I believe no one knows what Bitcoin Wealth is and start talking about Bitcoin itself.
Bitcoin Weath sounds too good to be true? That’s because it is a scam!
Any page offering 1% interest per day or in this case 0.3 Bitcoin, can only be a scam.
Another thing which points to a scam, is that they promoted USI Tech, which was a scam. It also promoted Bitconnect which was also a scam and now promote the ICO of BitconnectX which belongs to the same scammers who stole millions from Bitconnect.
There are several ways to make some money with Crypto:
- Hodl. Buy and hold a big coin like.
Brutally Honest Review
Submit Your Invention for a Brutally Honest Review and Possible Licensing Deal.
A Brutally Honest Review gives you honest, professional feedback and suggestions for developing, protecting and succeeding with your invention idea – maybe even a licensing deal. You’ll be in the company of smart inventors who received advice (and deals) they could trust. $95 one time fee. “It’s the best money I’ve ever spent and saved.” J. Ransome
The Brutally Honest Review is based on decades of real successes and costly failures. We truly know every aspect of inventing and are pleased to work with inventors from every country in the world. A “no” from us will help you make better decisions that will save you thousands and even tens of thousands of dollars. There’s also a chance that we’ll say “yes” and offer you a licensing deal that could pay royalties for a decade or more. If we say “yes” and license your invention, the $95 fee is the only fee you’ll pay. We review your new invention idea as possible investors. We’re blunt and honest because if we say yes and offer you a licensing deal, our time and money is on the line and you don’t invest another penny. All submissions are reviewed under our Confidentiality Agreement.
The Brutally Honest Review includes:
- Six Page Report with overview of prior art / competitive products, market analysis and suggestions for next steps.
- Ten Page Inventicator Analysis
- Personal consultation upon request (up to 30 minutes).
- Possible offer of a licensing deal.
In a Brutally Honest Review we learn about your invention and personal situation to help you find the best way forward. If we say “yes” we’ll make an offer where you don’t risk any additional money. Our expertise comes from 25+ years of hard won successes.
Get inventor help and feedback from experienced professionals, prior art overview, Inventicator™, next steps, referrals and more. Maybe a licensing deal. Honest feedback can save you thousands even if we say “no.” Great for independent inventors, entrepreneurs and investors. No additional fees if we say “yes.”
In our Brutally Honest Review a Confidentiality Agreement is put in place so we can learn details about your invention. We look at prior art and competitive products and run an Inventicator™ analysis. The goals are: 1) give you helpful information and 2) help us make an investment decision (a possible licensing offer) . The final result is an 8 page report with initial prior art research, feedback on your invention, suggestions for next steps plus a 10 page Inventicator™ report. There’s also the possibility we’ll offer a licensing deal. You can speak to us on the phone about your invention and point out things that we missed. With a Free Benchmark Submission we do not provide any feedback and there’s no chance for an inventor to have a deeper conversation (and possibly change our minds). In our experience to date, the Free Benchmark Submission has been most successfully used by advanced inventors who do not need feedback or support.
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Rated A+ by BBB.
Inventions are considered at all stages of development from napkin sketches to production units.
Here’s the fine print:
- You pay $95 to make a submission. (There are discounts for multiple submissions at one time, maximum of 3).
- Please understand that we say “no” more often than “yes.”
- If we say “no” you get feedback that’s worth a lot.
- If we say “yes” we’ll offer you one of the following:
- Licensing – Invention City licenses your invention, handles all further development and patents and pays you royalties with no further investment from you (the royalty depends on many details including profit margin, how developed the invention is, patent protection, risk and investment requirements) or;
- Representation – We present your invention to prospective licensees and help in negotiations on a commission basis.
- The review process typically takes a week.
- We guarantee our work. The guarantee includes the explanation we give for declining to invest in or license an invention. An answer of “no” is not a valid reason to request a refund.
- We’re rated A+ with the BBB and work hard to fulfill our promises.
- Have a question about the process? Call 612-808-8081 or email [email protected]
- Sign our Confidentiality Agreement electronically and get started now.
Deal offers are based on inventor goals, invention development status and investment outlook. The more an inventor brings to the table, the more we can offer. Our philosophy for percentages comes from our own experience as inventors and is perfectly summarized by Edison’s comment that, “genius is 1% inspiration and 99% perspiration.” In practical terms that means revenue sharing offers run from 80/20 to 20/80 depending on many details.
Sometimes a deal offer is conditional on further development. For example, we might tell an inventor that our answer is “no”, however, if they build a working prototype that proves the concept, we might very well say “yes.” A working prototype, even an ugly one that barely functions, is worth far more to us than a pretty picture and can often enable us to make a better offer. If you need someone to build a prototype for you we can make recommendations.
We like it when inventors want to stay involved and try to find practical ways to make that happen that don’t diminish the chances for making a deal successful.
We license a wide range of inventions and are open to things in all fields. You can get a sense of our interests by looking at our current deals in progress
Invention City Inventor Reviews
Unsolicited Comments from Inventors on Brutally Honest Reviews and working with Invention City:
February 24, 2020
“I would like to say thank you for your time and consideration in all ideas. It’s the best money I’ve ever spent and saved. Your knowledge and experience can make people with great ideas and at the same time save a person from investing too much time and money into an idea that may turn out to be un profitable. . I appreciate you and I thank you.”
January 23, 2020
“Hi Dan – Just read through your analysis. Extremely thorough and insightful. Absolutely best $95 ever spent. I have been inventing for years so I do know the route. I got spoiled with my first one. sold it for 1 million $ with NO SALES !! I know, unheard of ! It’s my passion but I also know the risks as well.. ESP disappointment and closed doors. I probably will not spend more $ but may keep throwing it out to some companies to see if there was any interest. I will re-read later tonite when I have more time. Many thanks for your review and you guys are invaluable to inventors . they should at least run ideas by you first before spending thousands.” L. Adami
January 23, 2020
“We, people who are able to generate new ideas may potentially be inclined to over valuate our inventions’ importance for the humanity. That is OK. Nothing really wrong with creating and living for certain time in our own made-up faultless world. However, it still makes sense at certain point to get back to reality, means to get eventually acquired a sober look at the future of our inventions. Of course, we need professional, unbiased and honest assessment. The question is who are those people we may rely on with all of that? I consider I was extremely lucky finding Invention City people. Even though they have said no I have got a priceless opportunity to learn a lot of new and helpful things from the idea evaluation. The most important aspect is that after summarizing all positive and negative sides of my invention based on the Invention City evaluation it turned out I am even more confident to keep going toward my success. Thank you very much to Invention City!” Y. Ivanov
August 21, 2020
“I want to thank you, Dan Fulford from the bottom of my heart and for opening my eyes. You are a true blue and honest company. Without my Brutally Honest Review, I would have never found out my invention was out on the market. And the money I have spent to further my invention , not to mention years, has just went into a crooked company’s Pocket. Thank you Invention City, and thank you again, Dan!” – M. Fisher
May 31, 2020
“Best $95 I spent during the development of my great idea. Every inventor should seriously consider this service for a reality check. It may be a great idea, but who will invest and who will buy it are the most important questions to be answered before you spend a lot of money on going forward. Invention City is not a scam, they really do what they say they do on their website. They did say no to me, but with honest feedback on how I could improve my chances of success.” – R. Venturini
July 18, 2020
“I have been involved in product development and personal inventing for over 30 years. In that time I have had many good fortunes with my ideas. I have also had my share of encounters with less-than honest and wholly-valueless product review companies (and have had several colleagues also fall prey to their often predatory tactics).
I am very grateful to have stumbled upon Invention City and have already passed it along to several friends. There are no tactics, salesmanship or pie-in-the-sky nonsense. in the real world of product development you must leave your wild-eyed optimism at the door and seek out truly objective, insightful and above-reproach reviewers. If you have an idea and are in need of an honest, real-world assessment look no further. Inventioncity IS your destination.” – Dr. J Kennedy
April 10, 2020
“Thank you very much for all your help and the information you provided. I appreciate all the research and effort you put into this. I’ve learned a lot from this process and will keep Invention City in mind if I have another idea I’d like to pursue.” – Charlene
March 17, 2020
“As inventor of a device submitted to invetioncity.com for a BRUTALLY HONEST REVIEW, I would recommend all that have begun this process of developing an invention to enroll in this program. The cost of only $85.00 [price increased to $95 on April 5, 2020] enabled input to produce a 10 page INVENTICATOR report evaluating my device, followed up with a 5 page written review, along with a follow up phone call from from Dan Fulford, one of the principals.
The information obtained, both written and discussed on the telephone, provided a direction for my device. I am writing this summary to assist those who may desire to consider invetioncity.com as a source to evaluate the status of your invention. The web site is filled with numerous links to assist you in understanding the direction of developing a product for the marketplace.
The feed back from the BRUTALLY HONEST REVIEW, along the the report is clear to understand, and the follow up phone conversation answered the outstanding questions to move forward with the developing and marketing in the true professional option. I feel I was treated throughout the process as a real person.
The concepts I learned through their web site, the report and summary I received, and the follow up call, should be on the top of your list to contact inventioncity.com to have your invention considered for a BRUTALLY HONEST REVIEW. ”
– David P.
January 25, 2020
“Thank you for you and your teams time Dan. I have learned a great deal on how to proceed in the future. I now have more information and a better understanding of how to proceed before I ask you for another review in the future. Thank you for helping me save money. God Bless.” – C.J. Walton
September 12, 2020
“Hi Mike -Thanks for your review, effort and feedback. You found a lot of stuff that I missed! I will investigate and see where I can improve!” – Gerhard K.
August 14, 2020
“Hi Mike, I learned so much from your feedback and the patent links that your given me will help a lot. Next time, I try to avoid competitive product on whether to proceed with the idea or not. Unless I have really huge advantage over my competitor invention. I will not proceed with this idea invention production. Finally, I wanna say thank you for your professional view on my invention idea. I really appreciate it really much and will try to figure simple, practical, easy invention idea and not forgetting less competitive market.” – MJ Shah
June 3, 2020
“I want to say that you bringing this to my attention was worth ever penny that I have paid y’all. I paid my patent attorney $800 for a prior art search and I feel like you did a much better job for $85.” – Shane S.
May 9, 2020
“Good Morning Mike – I decided to try my hand at marketing my invention. The Invention City product evaluation on [my invention] was instrumental in getting me to this decision. It gave me a shot of confidence that I needed so badly. You and Dan are great!! – Therese M.
March 18, 2020
““Hello Dan ! I was disappointed to hear the BAD news from you, but at the same time it was GOOD news. By this you opened my blind eyes to the truth and have saved me a lot of money and time. Another company I spent $799.00 and told me from the beginning I had a home run. They knew what I wanted to hear. Now they want me to sign $10,000 agreement 15% royalty. The $85.00 I spent for your evaluation was well spent. I will be contacting you with my next big idea soon. You may use me as an example of a happy customer. – Bill M.
March 2, 2020
“Glad it was just $85 I lost and not Thousands. Thanks again you’ve been a great help. -Tracy R.
January 8, 2020
“If you’re seeking an opinion, and EVERY inventor needs an outside unbiased one early in the developing phase, these are the guys to talk with. An honest appraisal of your idea or new product concept is what you will receive from the professionals at Invention City. You may not like what you’re going to hear, or expect to hear what they’re going to say, but given how close you can become to an idea or new product concept it’s something you need to experience before going too far into development. They’re honest, and insightful in their evaluation – a welcome breath of fresh perspective. Keep your eyes and ears open, take away the advice from these professionals, and you and your idea or new product concept will benefit from it. Will work with them again, happily.” – – Jack F.
January 6, 2020
“I have never came across any invention related companies such as Invention City inc. I have been working with IC’s president Mr. Marks directly with my couple of inventions. Mr. Marks had devoted his personal time at many different occasions. Mr. Marks even went out of his way to meet me to discuss the goals of my inventions. In order to accomplish my goals, Mr. Marks always provided me with suggestions and advises to help me. I have dealt with other companies prior to it, but I have never experienced such a friendship based on business relationship like I did with Invention City. I would highly recommend Invention City to anyone, who is inventor and entrepreneur to accomplish their goals. The President Mr. Marks is always straight forward and brutally honest with me regarding inventions. I personally thank Mr. Marks and Mr. Fulford for their personal help and devotion. Thank you.” – Ali N
June 18, 2020:
“I just want to give a big thumbs up to Invention City. I had the most professional experience I have ever had. And they proved to me that they are for real. I can compare Invention City, Inc. to the Shark Tank a TV show I love because of the honesty and not someone that will tell you a lie just to get into your bank account or take a big charge on your credit card. Dan who reviewed my invention was great. He listened to me and gave me great advice concerning my invention. And believe me that conversation with Dan saved me a lot of money that I don’t have to give away at this time, to some other companies that promise the sky, and you end up with a empty bank account, and an invention that goes nowhere. Invention City Inc charges a very small fee for their review and if they feel that you invention or idea is ready for the marketplace they tell you. And if it is something that’s not ready to go forward just yet they will give you great advice on how you should proceed if you desire to. I recommend Invention City. to anyone who has an invention, try Invention City first, before they go to any one else. This company is very Professional and have real good people that care, and tell you the truth. My mother always said if you know the truth, the truth will set you free. In my case I say, if you want to hear the truth about your invention or idea go to Invention City Inc, first and you will not regret it. Just want to say thanks again Invention City. I didn’t lose any money. ” – Laverne T
Here are a few of the products we’ve created, licensed and launched:
SqueezeDriver® Rotary Screwdriver
More than 1,000,000 units sold world wide with QVC, Brookstone, Sears Catalog, DRTV, NAPA private label; licensed to Direct to Retail, AllTrade and Arrow Fastener. Tested at Johns Hopkins University for brain surgery, considered by NASA for the shuttle. Popular Science Award for Tools. IDEA Design Award. Certificate of Good Design Osaka. Even featured in a Stan Lee Spiderman cartoon!
PowerShot® Forward Action Staple Gun
Initially licensed to Black & Decker, when sales began to stall, Invention City’s team put together deals to extend the product line on B&D’s behalf. The extended product line was sold to a spin-off and then sold again to Arrow Fastener while the licensing deal followed. Distribution in all major retail channels. IDEA Design of the Decade Gold Award. More than 10,000,000 sold.
Gator-Grip® Universal Socket
Entrepreneur Jon Blake came to us with a vision for a universal socket. The Invention City team invented, engineered, patented, branded, trademarked and sourced the tool. We also co-founded and helped manage the start-up company that manufactured and sold it on TV and into major retail channels in the US, Europe and Asia. IDEA Design Award. More than 10,000,000 sold.
Peep n’ Peepers® Halloween Lights
We helped inventor John Martinez develop, perfect and patent his design for flashing outdoor Halloween lights and then closed a licensing deal for him with a trusted Chinese manufacturer. John tells the full story here.
PaperPro® Desktop Staplers
Entrepreneur Todd Moses came to us with a vision for a spring powered desk top stapler. The Invention City team invented, engineered, patented and sourced a wide ranging product line. Many millions of units have been sold both under the PaperPro brand and through private label deals with Staples and others.
NESURF™ Lined Jeans
We conceived, designed and sourced the first lined jeans to combine stretchy denim with stretchy Polartec fleece. 100% made in USA. Licensing interest from Carhartt, Reef, LL Bean, Dickies, Eastern Mountain Sports and others. Following a Kickstarter, a first run was sold to regional retailers. No longer available, they remain the warmest, most comfortable (and stylish) lined jeans ever made.
VertiGrille® Vertical Skewer Rack
Dan Fulford’s sons were cooking hotdogs at their backyard campfire when they came up with the idea of modifying an old grate so one guy could cook six dogs at once. We broadened and perfected the concept, patented it, manufactured it and are slowly building a market for it. Available at Amazon.
Inventicator™ Evaluation App
The Inventicator™ is an app developed by Invention City to help determine the commercial potential of a new product concept. Try it here.
A Respected Team.
Invention City has had unparalleled success and experience in the business of invention development and commercialization. Over the past decades products developed, licensed and manufactured by Invention City and its partners have generated over $600 million in retail sales. We know the inventing business in depth from all angles – as both licensors and licensees – with our inventions sold across every continent on the globe except Antarctica. Read more about us here.
Even if you’re not looking for a deal and want to go forward on your own you can submit to get honest feedback from professionals who’ve been there.
Invention City gives you valuable insight that may help you improve your invention, may cause you to rethink it entirely or just might lead to the offer of a deal. The best way to make money from an invention is to take a hard look at all of the reasons the invention might fail and try to address those reasons before you file a patent, develop a prototype, or pursue a licensing deal. If you’ve already started on that path you can improve your chances and save money with unbiased input from the outside.
That fact is that most inventions fail. Even the best ones have odds below 50/50. We’ve succeeded through the years because we’ve learned how to fail as inexpensively as possible until a success comes along, and then we exploit that success to the stars. It’s a great way to prosper in the invention business, quite possibly the only way.
Whether your invention is just an idea or a new product in early production, getting a quick opinion from Invention City is likely to save you thousands of dollars. It is also possible, despite long odds, that invention City could offer you a deal that will make you tens of thousands or just maybe, even hundreds of thousands or more, as we have done with a few of Invention City’s own ideas.
Other invention service companies hold out false hopes to encourage you to spend money with them. In fine print they’ll tell you that the odds of success are small (true) and then in phone conversations they’ll flatter you into believing that your invention might just beat the odds. Flattery is easy. All of us like to hear that our ideas are brilliant and that we have a good chance of getting rich. Well, for $20,000 or more you can enjoy the flattery and maybe get a virtual prototype of your idea. But seeing your invention on a retail store shelf and actually making money on it – that’s not likely at all. $20,000 isn’t enough to do the job right. But it is enough for an invention service company to make a nice profit by encouraging you to pursue your idea.
Many patent attorneys are no different. They’ll tell you that the first thing you need to do is protect your idea even before you even have a final product design, or know the details of your invention, or before you go out and get market feedback. If you have a lot of ideas you’ll quickly figure out that patenting every idea right away is good way to become bankrupt. Even worse, if you file a patent too early in the development process, you’re probably not covering the most important details – you’ll need to file a second patent to cover those!
Prior to having a patent filed it is very important to keep your idea confidential. But, if saving money matters to you, you should get feedback from a trustworthy, ethical and experienced source to help you decide if an idea is worth patenting at all.
The risks of going forward with an invention are high. The cost for Invention City and its partners to take a relatively simple idea and turn it into a product on the shelf at Wal-Mart often runs upwards of $200,000. Most people can’t afford that risk. We can because we’re very careful about saying “yes.” You should be careful too and get professional feedback as early as possible.
Invention City’s feedback is not the last word on success or failure. But it can save you a lot of money by helping you make better decisions on what to do next and how to move forward.
Invention City will quickly give you a “yes” or “no”, feedback that could save you thousands, and in some cases a deal offer that could make you much, much more.
Invention Submission FAQ
1. Why do you charge for a submission if you make money from successful inventions? There are several reasons. First, in a Brutally Honest Review we give input that will probably save the inventor thousands of dollars – it’s a great value even if we say “no.” Second, we want to be sure that people who make submissions are serious and don’t take advantage of our time. Third, if we say “yes” and proceed to commercialize your idea it’s quite possible that together with our partners we’ll be investing $200,000 or more, with no promise of success. $95 is a small price to pay when you’re asking people to consider a $200,000+ investment. If you do not care about feedback but would like us to consider your invention, please use the free submission option here (homework required).
2. How many deals have you done? Invention City originated with WorkTools, Inc. which was founded in 1986. You can see videos of some of our many projects here. We began the Brutally Honest Review service at the end of 2020 and at any given point in time are working on roughly a dozen licensing, representation and partnership deals. Confidentiality requirements prevent us from discussing most deals until well after commercialization.
3. Do you work with inventors from outside of the USA? Yes. We’re pleased to work with inventors from all over the world, from every continent and region.
4. What are the odds of a “yes” and a deal offer? We say “yes” and offer a licensing deal to approximately two percent (2%) of the submissions we receive. Some of the inventions we say “yes” to are napkin sketches without patents or prototypes and some are fully developed with issued utility patents. To another 5-10% we say we’ll re-consider if the invention is developed further or if additional information is provided. Here are examples of projects we’ve said YES to.
5. Do inventors always accept your offer? Roughly nine out of ten inventors accept our deal offers because the offer we make is one we’d be comfortable with if we were in the inventor’s shoes. Roughly half the inventors who decline our offers come back to us within a year or two and say that they’d like to take the offer we made. Sometimes we’re still interested, sometimes not. Timing is a big factor in whether or not an opportunity is available. Emotion is a factor too.
6. What percentage does Invention City usually take? The percentage varies depending on how much Invention City needs to invest to develop the invention and put together a deal. Our basic philosophy follows Edison’s observation that inventing is 1% inspiration and 99% perspiration. In that way we believe that an undeveloped idea, a napkin sketch which hasn’t been developed or patented or prototyped, is generally worth 1% of Net Sales. Our rev-share deals are generally in the 50/50 range for inventions that have a rough prototype and a provisional patent. We have taken as little as 20% and as much as 80%.
7. Can I submit my invention to other companies at the same time? Yes. You have no obligation to work with us when you submit your invention for a Review. But exclusivity will be required if we accept your invention and enter into an agreement with you.
8. What’s a typical licensing deal? A common licensing deal pays the inventor a percentage of “Net Sales” of the product. In most product categories licensing deals max out at 5% of Net Sales and in some categories they max out at half that amount. “Net Sales” means the price after deductions for returns, discounts and promotions. The idea is that the royalty is paid on what the company actually receives when it sells the product. To understand why 5% royalties are the maximum for most business categories read Money & Inventing. When Invention City does a licensing deal that deal may also include a sublicensing provision where the proceeds from sub-licensing are shared.
9. Is licensing all you do? In conjunction with preferred service providers we provide a full range of services including patent searches and filings, prototyping, manufacturing, marketing and even founding new companies. Sometimes we can marry an invention with an entrepreneur and put together a deal that combines licensing and equity.
10. Will you refund my money if I’m unsatisfied with a Brutally Honest Review? Yes (but not for a Yes-No submission). You have 30 days after receiving your Brutally Honest Review to ask for a refund if you feel that we did not perform as promised. All you need to do is to send an email asking for a refund with a short explanation of your reason – other than receiving an answer of “no”. We believe that an honest “no” from us and the reasons behind it will likely save you thousands of dollars. We urge you to not submit if you are submitting only in the expectation of getting a yes.
Have a specific question? Please send it to [email protected]
Introduction to Selling and Licensing Inventions
A good invention submission partner is one way an inventor can maximize the likelihood of success. Presenting an invention to potential licensees requires the invention to be developed beyond the idea stage. A working prototype is critical. The value of the prototype is enhanced if the design is also engineered for manufacturing and accompanied by research on prior art. The partner who submits the invention should also have a good understanding of the marketplace.
Selling or licensing an invention is tricky and getting a good non-disclosure agreement is important. The best and often the only way to get a worthwhile non-disclosure agreement (NDA) is to have advance credibility with the potential licensee. This is something that a good invention submission partner offers to a new inventor.
The issues described above are some of the reasons an inventor would want and benefit from an established well-respected partner who can both develop an invention and then submit the invention on behalf of the inventor.
Licensing is the easiest path to commercialization and profit: you get paid while someone else takes your invention, turns it into a product and manages the day to day grind of making and selling it.
When you give a company the right to make and sell your invention in return for payment, you are granting a license – you are the “licensor” the company is the “licensee”. The payment can be an ongoing percentage of sales, a “royalty”, or it can be a one-time payment, a “buyout”.
The downsides to licensing are lack of control and a smaller share of profits. The upsides are less work, less investment and less risk. If you want to maximize the potential return from your invention AND you are willing to work extraordinarily hard AND you have the ability to build and manage a business… then licensing might not be the right solution for you. For everyone else it’s a path worth serious consideration.
Many inventors harbor the fantasy that someone will pay for an undeveloped idea. While fantasies sometimes come true (someone does win the lottery), you should keep your feet planted firmly in reality. Fortune 500 corporations will only license patented (or patent pending) inventions. Smaller companies are more flexible but also have a strong preference for ideas that are developed and possess some form of intellectual property protection.
The steps to licensing an invention are as follows:
1. Identify & research target companies.
2. Approach prime targets
3. Confidentiality agreement
4. Prepare for negotiation
5. Initial presentation
8. Divorce and Remarriage
Cryptonix Team review – is cryptonixteam.com scam or safe forex broker?
RECOMMENDED FOREX BROKERS
Cryptonix is an unregulated CFD brokerage, based in London, attempting to pass as a crypto-currency exchange. Most brokerages make such attempts, because the cryptoworld is still new and unregulated. Read the whole review to find out the benefits and disadvantages in dealing with this brokerage!
No regulation and further uncertainty
As was mentioned above, the brokerage is not regulated, nor does it state any such regulation on its website. Although the lay-out of the website is made in such a way as to convey to potential traders that they are dealing with a crypto-currency exchange, the truth is far from that. What gives Cryptonix away are the account types with stated minimum deposits in American dollars. Here is a screenshot:
Crypto-exchanges do not function that way – they offer clients wallets where they may store real crypto-currencies. Furthermore, seeing as we have a CFD brokerage on our hands, lacking regulation, we must state the risks in dealing with such a broker.
Firstly, and perhaps most crucial, we do not have assurance for the safety of the clients funds. Brokerages which fall under the regulatory oversight of prestigious agencies such as the FCA or Cysec, must comply with a number of rules. One such rule is the segregation of accounts where by brokers have to handle their finances separately from those of the client. This significantly lowers the risk of potential fraud. Clients also participate in a compensatory mechanism by which, in the unlikely case of the brokers bankruptcy, they may be compensated up to £ 50 000 per person. All this inclines us to state that interested traders should not put their trust with Cryptonix and should instead check out our list of recommended FCA-regulated forex brokerages.
Plenty of cryptos
For all its faults, the brokerage at least does provide traders with a wide variety of CFDs on cryptos. Potential clients of the brokerage may trade Bitcoin, Ethereum, Ripple, Litecoin and many more. Diversification of trade is always a welcoming sign and we take notice of this advantage.
Reasonable minimum deposit
On the brokers website we read that the minimum deposit for the most basic account is $250 which is about the industry average and nothing out of the ordinary. However, having in mind the lack of regulation, we would suggest interested traders be cautious and have it in mind, before deciding to invest with Cryptonix. For comparison, a well-known and well-regulated brokerage such as IG does not even require a minimum deposit.
Not a lot of payment methods
There aren’t a lot of payment methods provided for traders which is always a disadvantage. Potential clients of the brokerage may deposit or withdraw via Visa and Mastercard. Popular options such as Skrill or PayPall are not available.
Cryptonix is an unregulated CFD brokerage attempting to mislead misinformed clients into thinking they are dealing with a crypto-exchange. Such an aim is not especially worthy of praise. Furthermore, the trading conditions offered by the brokerage are not in the least favorable. The spread on Bitcoin is a bit high and there aren’t very many payment methods. There are also withdrawal and procession fees which further incline us not to recommend this broker to interested traders. All in all, traders should direct themselves to better trading options to which we have linked throughout this review.
FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.
XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.
FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.
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Traders` reviews for Cryptonix Team
Cryptonix company and David Fisher in particular operate a very painful but persuasive scam. I have lost over ВЈ100,000 since last August.
Please Note – www.Cryptonix.co.uk is not associated with ‘Cryptonix team’ in any way
Their is another business operating with a similar name however should not be confused with Cryptonix.
www.Cryptonix.co.uk is a website providing a wealth of information on Blockchain and Cryptocurrencies. All at no cost, simply out of good will. From monthly news updates, key facts, guides, live market feeds, plus much more so you are upto to date with current affairs before moving forward.
All at your finger tips so you can avoid the guessing work..
Welcome to get in touch if need be via Facebook, Twitter. You can also find Cryptonix on Youtube and Instagram.
Once again rest assured www.Cryptonix.co.uk isn’t associated with ‘Cryptonix Team’ in any way. We’re working towards clearing this out.
I have 6802.07ВЈ in Cryptonix and can’t get a penny out.
Fraudsters and Criminals
Fraudsters and criminals
I’ve lost a considerable sum of money to thecryptonixteam.com. I was persuaded by a certain Daniel Hoffman (probably not his real name but definitely a confidence trickster) to invest all of my capital to use on their trading platform. Initially I was allowed to withdraw a small amount to prove company integrity. I even paid ‘capital gains tax’ upfront of 18% as requested by Daniel Hoffman. When I wanted a withdrawal of 100k tax paid profit plus my original investment a certain David J Fisher (Chief Financial Analyst so called) informed me that my money was all held in Bitcoin in a Swiss Bank called Mirabaud. I would have to pay a 12% (27k) conversion fee to receive it back to my Coinbase account. Fisher sent me a ‘release of funds form’ complete with the Mirabaud bank letter heading, grammatical errors and a bogus bank account number. Needless to say a perfunctory check with the Mirabaud legal department revealed the document to be a forgery thus demonstrating that thecryptonixteam are scammers and completely untrustworthy.
Can I get an authority gov to get my refund
Justto ask you if you can advice me if there is an authority to get my Cryotp back and The Cryptonix Team are dishonest and all my saving from my account wanted me to place them to their account.
They are con merchants
They groomed me over a 2-3 month period. I had some money sitting with nothing happening. I was beginning to get suspicious and asked to withdraw all my money (4K). I was immediately contacted by the “senior financial manager – who apologized for the broker who was handling my account. As far as I can tell they are a two person team (man / women) first name initials R & E. I think they probably use false names, but they are x traders who know the jargon. They showed my account growing under the guidance of the “new” broker and arranged transferred of small amounts back into my account. All giving confidence, then the sting great deal, promise to get your money back next day late february 2020. Then I deposited 15K contacted then next day and they had cut off all communication all the telephone numbers don’t work and no reply from Skype.
This must be the biggest scam ever
I invested condirable sums and was told all my investments and profits would be returned within 7 days.
The Crytonixs Team are a bunch of fraudulent crooks on a grand scale and should be put in the ‘slammer’
How can I please get my money back
Good day, Kindly assist me to get my money back from this broker, the broker has phone me every 2nd day and the past 2 weeks I do not hear from them or anybody and I need to withdraw some funds and it keeps saying pending. I am single and look after my dad of 91, I trusted this person en in total I have deposited $3000, currently my balance is on $7352, How can I please get my money back please help me
Scam company. Withdrawal request pending for 26 business days
Please stay away from this SCAMMING COMPANY. In 2 weeks time 3 account managers which want you to deposit ridiculous amounts of money. Withdrawal request pending for 26 business days without any approval. They block you from their email and live chat. Scammers and Thieves. Please Please Please don’t invest your hard earned money with these bunch of thieves. You will never get it back.
Scammed – they requested tax payment to a Bulgarian bank
The Cryptonix Team still O me $43000.00, they insisted that TAX be PAID UP FRONT and to make it cheaper for you, PAY TAX to BULGARIAN BANK. Now since this episode I’ve come to realise that this comes down to MONEY LAUNDERING on their part. Operating out of LONDON (Their word) and then requesting TAX PAYMENT to a BULGARIAN Bank? What Else than MONEY LAUNDERING??
Cryptonix Team Beschwerde
Man kann einzahlen aber man bekommt nix resp. nothing mehr heraus.
Translated by Google:
You can deposit but you get nothing resp. nothing more out.
cryptonix team – they are all scammers
still on going and they use any desk and they wont you to take loan to put more money in they wont me to give them my account details here are some names 1 ron talor 2 fillpe reyes 3 michal lewis they are all scammers
Scam – pure and simple
I have been trying since August 2020 to withdraw my money but with no luck. They don’t even answer my emails anymore.
It’s a scam pure and simple
Do not invest in thecryptonixteam
In a spur of the moment decision Iinvested ВЈ250 with thecryptonixteam and on viewing their charts the money was growing so I put in a further ВЈ500 and over the next four weeks my money doubled. I asked for ВЈ1,000 and a David Fisher agreed to pay this money but my account would be closed I agreed on 12th December 2020 but to date despite my sending many emails no money has been paid. This week I was contacted by a Remi Smith and again I asked for at least my initial investment repaid but as usual nothing. I will continue to be a thorn in their side and will resort to anything which will stop people being conned out their hard earned cash.
Can you advise if I should go international and go on Facebook?
I fear that I have been scammed
Started well and my small investment ВЈ750 was increasing well and I asked for a ВЈ1,000 to be paid to my account on 12th December 2020 and this was accepted by email but absolutely no action and I fear that I have been scammed.
Ripped off .
Hi. I was ripped off by ‘The Cryptonixs Team ‘ to the amount of ВЈ1250. All seemed fine until I asked for a withdrawal of ВЈ2000. Then the phone calls from then stopped. Then the so-called Customer Service stopped replying. Then it was permanently ‘Off-Line’
Was i Scammed
A question? has anyone who did a withdrawal has seen there balance go down to 0 in the MY ACCOUNT tad?
Your Balance 0.00в‚¬
And in the withdrawal request tad, I saw this!!
12/04/2020 02:03 11205.49в‚¬ Money transferred to the user
I’m just curious should I wait or should I cancel the payment that I sent to liquidate my account?
The “account managers” are pushy and rude. The first manager said to me “people like you make me sick”, because I wouldn’t invest more.
There was high activity on the account on 22nd, leading to a high profit on my investment. So it may seem that my account is profitable but I am unable to access any of it.
Withdrawal request not succeded
I want to share here my story with thecryptonixteam.
thank you for your support.
I got drawn in by the dragons den theory that its a money making cant loose system.However, stupidly I authorised ВЈ180 from my visa card. when I contacted my bank to complain “I think I have just been scammed” the bank confirmed they took ВЈ193 which I never authorised. The bank believes it will get my money back
reading other posts it does not seem likely. And yes iam being bombarded with calls from these people asking for id from driving licence to passport and copies of household bills. BEWARE.
hi yes I am like yous but am going down to there offices I will get satisfaction one way or another anyone else fancy meeting there ?
Rip off company
Cryptonix scammed me out of ВЈ500 and won’t give me my money back. They keep asking for more information
Scammed by CryptonixTeam
I have been waiting 21 days for refund. Do not use these scammers. Same people as vip brokers, vip Crypto, Hawkcode etc. They use other company names to make seem legitimate
Sharp & can talk apples off trees
Daniel Hoffman a so called finance expert with cryptonix . I was lured in by false info ref Dragons Den investors. This company is a TOTAL scam all they have to do is bank multiples of ВЈ180 for nothing in return except a false web site. Very clever. How many thousands have been conned? I was suspicious after receiving my first phone call at 7.30 a.m. NO legitimate broker rings & certainly not at that time of day, then the HARD sell started, I called his bluff then cancelled. Ive waved good bye to my ВЈ180 & the so called profit..MORAL never gamble with that which cannot afford to lose.
I was also scammed
I was also scammed by them, and they say had my broker Crawford dismissed because of is lying, what a full of crap, got written letter from their CEO garantying my funds if I paid a amount of 6,400 euros in leverage to receive 32,000 euros to a bank in germany, again full of crap.they will try to the end with you,stay away, I got them cancelled by ICS cards,wich they cannot use anymore,my credit card company is investigating them to have them cancelled by all credits cards.what a distatefull experience.
I have tried to with withdraw funds but noone answers the phone or my emails. We are on to you and it wont be long before you are stopped !
Cryptonix Team – Diebe
Ich wollte mein Geld mir auszahlen lassen und bekomme keinen Cent zurГјck.Angeblich wГ¤ren meine 250.00 auf 350.66 angewachsen.Dann hat man mich von Гјberall gewarnt ja und nun bekomme ich mein Geld nicht wieder.
Translate by Google:
I wanted to withdraw my money and can not get back a cent. Allegedly my 250.00 would have grown to 350.66. Then I was warned from everywhere and now I can not get my money back.
What a con
I,as others was fooled by the link to Dragons Den. I agreed to invest ВЈ180 which turned into ВЈ193 and charged to my card as ВЈ199 As paid on credit card there is a “cash” withdrawal charge and then interest. I straight away got in touch with my bank and put a stop on any withdrawals which proved a great bonus. In line with all the comments the pressure started and the shouting and the insults and then ” You are a liar you have money I am going to withdraw ВЈ5000 from your account now” I said NO but he tried thankfully the bank refused and nothing was taken >>> if I had not stopped the bank account they would have got it. I now appeared to be locked out of the sight and my account as my password does not work and they will not acknowledge my emails.Is there anyone out there who can help
I was truly suckered here!
I too went against my “always be suspicious” approach to this type of “investment, I was fooled by a false report in the “Daily Mirror” newspaper involving Dragons Den. I’ve lost ВЈ3,000 and only discovered that it’s a scam after trying to withdraw. I have had the “tax” email, a load of rubbish, I am responsible for paying UK Capital Gains Tax!
Cryptonix has a UK “base” in London at 20-22, Wenlock Road, London, England, N1 7GU – a Brass Plate address – and “Customer Support” is based in Hong Kong, hence the broken English emails!
The UK branch of this operation is linked to WILKINSON EUROPE LTD, Company number 10941105, with one Director, Johnny Sali YUSUP, an ACTIVE Director, appointed on 31 August 2020, Nationality Filipino, Country of residence Philippines, Occupation Tech Support!
I have told Companies House about this Scam connected to Wilkinson but there is nothing that they can do. I have given a comprehensive report to the Police (https://report.police.uk/), who I know are actively pursuing this case. Perhaps other UK based individuals should make a similar report to highlight this issue?
I have written off my “investment”, I was truly suckered here!
Cryptonix requested 35% to withdraw funds
Like others, I invested ВЈ250 after reading all the info about Bitcoin making lots of money. I somehow got directed to the Cryptonix Team. My investment went up to ВЈ297 within a few hours. As soon as I deposited the money I started to get phone calls from ‘my account Manager’. I know nothing about trading and he was blinding me with science and trying to persuade me to deposit ВЈ5K or ВЈ10K. I repeatedly said I was not prepared to do this. I also didn’t respond to any of their ‘compliance’ emails asking for id etc. After a few weeks my deposit still sat at ВЈ297 and I believed it was because I wouldn’t invest more. I then started to get calls again and when I checked my account the deposit has risen to ВЈ3054. To cut a long story short, I told him I wanted to close the account and withdraw my funds, but to do this he has told me I need to pay him 35% – ie. ВЈ1078!! I just keep ignoring all the calls now, 5 or 6 yesterday and even one at 7.30am this morning! I have resigned myself to the fact that I won’t get my original deposit of ВЈ250 back, but this is better than losing over a ВЈ1,000! Wish I’d never heard of the Cryptonix Team.
Request for more money on first dealings
I read about the den, and all the people wanting to invest in the cryptocurrency market. On clicking, I was sent to this company. The agent kept on chasing until I started with 180 pounds, which she did not accept and took it to 250 pounds. Following this she requested for specific amount for trading for my future pension. When reluctantly I stated 500 after she had suggested about 5000 dollars, she then said I should put in 1000, and would get a quick return.
I asked her why she doesn’t put her money in for me then. She transferred me to a man who said I could come out at any time that I wish, and worked something on the internet to show me how money is made. I have not been happy since.
On top of this I received a mail asking me to send copies of some documents from their compliance dept. When I checked with my bank, they advised me not to sent that document. They promise to pay any income to my account on the 15th sept, but I am unsure after reading your article.It over 2 weeks now.
Getting calls everyday to deposit more
I deposited with cryptonix,I decided to go for the minimum kept on getting calls everyday to deposit more as I kept on saying no ,I was called a liar and has the phone put down on me now it’s taking ages to get my money back which I don’t think I will. Can anyone help please.
Scam broker – the same company that runs vipcrypto
yes its a scam.. the same company that runs vipcrypto
some dude name morano
Scammed by Cryptonix Team
Like many people, I as interested in making my small savings grow and believed that Bitcoin investment could be the solution. My first discussion on the phone with Cryptonix was interesting. Fortunately payment using my debit card was declined due to lack of “3D”security. However I was prepared to use my credit card – which I keep purely for emergencies. I felt I could afford the initial transaction of ВЈ250.00 or 250.00 Euros as shown on advert. I was then introduced to my “Financial Adviser” a very engaging young man, educated in Cyprus who had spent a number of years in investments. He used sophisticated language,was articulate, well educated economics graduate. He explained a bit about digital currency using examples of gold prices over the last 30 years. He assisted in remotely installing their company’s computer software to my computer so that I could see my account and the movement of bitcoin. We had an interesting conversation about the various figures and graphs and noted that my investment of ВЈ250.00 had grown to around ВЈ280.00 in the short 30 minutes chat on the phone. He explained how he gets paid and the perentage is taken leaving a net growth figure for me. We agreed to leave things overnight and he would phone me next day to discuss progress and update me on the figures. We agreed a time window and hung up. I must admit I was impressed that my small investment had increased far more than it would have done if I had left it in the bank for year.
The next evening my “financial adviser” phoned again – 30 minutes earlier than agreed. He was very excited and had great news. Apparently during the day my investment had grown even more, it had been a really good day. He then went on to make comparisons and ratios of figures. Scenarios, what if I had invested ВЈ500 or ВЈ 1000. Today was a really good day to invest. I should really think about adding to my investment and making money. I could make almost half as much again. I was interested in this process and could see how it could be profitable but I knew that I did not have the funds required at this time and was hoping to suggest that perhaps I could add to my account at next pay day. Adviser asked about my savings and I did volunteer that I had a small amount of savings to the value of around ВЈ1000 but was unwilling to use those. To cut a long story short, he emphasised that he was financial adviser and wanted me to make money. Now was the time to pay into the investment. He knew I had ВЈ 1000 and said that he could arrange for their financial team to take payment. I was unwilling and knew that this couldnt be taken from my debit card as my bank had additional security on it. However he knew that I had used a credit card for initial payment.
This was moving far too quickly and I still hadnt had full training on my account or how to access the various system. He said he would put me on hold and transfer me to the financial team. At this point I hung up. He phoned me back to advise “good news” the transaction of ” 1000 had been taken from my credit card. He was laughing and very cheerful. Now this was a shock for me. Not only had I not wanted to go ahead with such a large sum but I was now in debt for ВЈ 1000. At no time did I give consent, permission for this transaction to be taken from my credit card. He had done this without my consent. Furthermore he had done it when I had hung up the phone.. Initally he agreed that Cryptonix is not for everyone an agreed that my account would be closed. He said that the funds would be returned to my account. I advised that I wanted them returned asap. He advised that the phone call was being recorded and argued that I did give consent, 3 times. I argued that at no time did he ask me if I wanted to go head or asked if I would give permission to go ahead. The adviser then became aggressive, argumentative and shouted down the phone at me. Is this man a psychopath? He claimed I had made a fool of him in front of his boss. There was a barrage of abuse from him on the phone. I am now in debt to the tune of ВЈ 1200.00 and there were also cash charges made to my credit card.
I am waiting for a proper reply to my email requesting that funds are returned to my credit card.
I feel that I have been well and truly scammed and that this is bordering on theft. I am waiting for all monies to be refunded to me. I question the unregulated methods used by this company. They take advantage of peoples lack of knowledge about the industry and exploit the vulnerable. Beware..using this company.
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