What Is CoinBase Cycler?
Have you ever heard of CoinBase Cycler? Do not confuse this company with Coinbase, the American crypto exchange. Unfortunately, the company that we will review today is a shameless scam and has nothing to do with the original Coinbase.
This program promises to give you a passive income after you deposit Bitcoin (BTC) in the Bitcycler program of the company. The promise is that you will make 15% in 10 days, which means that the returns would be 45% monthly. Obviously, the returns are simply too high and the whole thing is too easy for this not being a scam.
How CoinBase Cycler Works
Basically, it does not. This is a huge Ponzi scheme that tries to copy the name of a recognized brand to fool investors into giving it money. There are no trades happening. The company basically only uses deposits to pay the clients and it will break whenever people stop showing up. It’s a classic Ponzi scheme. You are promised money and you only get the money from the people you recruit.
CoinBase Cycler Verdict
You should not invest money in this company as it will certainly collapse soon and this will affect all the current investors of the company. The company is not backed by any exchange and there is nothing legitimate about it.
As all Ponzi schemes, soon this one will disappear as it collapses. Remember to always look for regulated companies instead of picking these shady ones on the internet.