Welcome to my review of Cloud Token!
In a world where almost every person is coming up with an online business, it’s very imperative to take caution when you come across any website. We have been providing reviews for most service providers which we think is very informative and helpful in making the majority of the decisions. In this brief article, we are providing a Cloud token scam review.
Before we continue, we have to state categorically that the information shared here is aimed at providing information to the public and not to intimidate or tarnish the name of any company, organization or group of people.
Additionally, we are not related to Cloud token in any way which means we are not here to promote the company or mislead our leaders. Lastly, we are not competitors so our aim is not to misguide the customers or promote ourselves. So the information is specifically from research and own experiences with the company.
Cloud Token is not just a scam but an illegal Ponzi scam. For those people looking for ways to make money through cryptocurrency trading and other ways, let me start by saying Cloud Token is not a nice platform to scale your ambitions. How do I know? Well, there are many reasons why I am confident Cloud Token is a scam. Many red flags are starting from the fact that it’s not a secure cryptocurrency wallet, they are telling lies and they are not trading.
In this brief review, we are going to inform you what is Cloud Token and eventually give you satisfactory reasons why the website is a total scam.
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Update:
A recent update regarding cloud token was that a securities fraud warning was issued by Mauritius’ Financial Services Commission.
The public is being solicited by a certain group of people on social media under the name of “Cloud Token Mauritius” and “Cloud Token Indian Ocean and Africa” to invest in digital assets and crypto currencies through the “Cloud Token” mobile application.
It has also come to the attention of the FSC that events are being hosted in publicly accessible areas in Mauritius to promote this application.
The FSC urges investors and the public to exercise caution in any dealings with Cloud Token Mauritius and Cloud Token Indian Ocean and Africa.
The fact that some countries already considered this a Ponzi scheme, there is a huge possibility that this will eventually collapse.
What is Cloud Token?
According to their website, Cloud Token is a super digital asset wallet and possibly the world’s first-ever social wealth wallet that integrate all blockchain cryptographic assets into a single platform.
This website is a mobile wallet with the ultimate aim of challenging WeChat. In most countries, many people have been using Mobile Payments for years and this is the main reason why this wallet is working perfectly.
The Cloud Token Launched in May 2019 and has since then been getting popular with time. By this time, it came with $0.30 but reached $0.37 within a few days. Their minimum holding time is 30 days and after that, they claim that you will not pay any other fee on withdrawals. With that information, you wouldn’t miss such an opportunity.
How does Cloud Token work?
To give you some clear information about this website, we took the time to start using the website and at the same time check how the site works. The site claims to offer several services including Cross-chain protocol plugin, Multi chain wallet, and Cross-chain Consensus mechanism.
We also wanted to dig deeper to see any disparities and tell you all the signs of a scam we noticed. We also wanted to see how the company claims to generate ROI. With this wallet, you are going to fund your wallet with a minimum of $500 worth of Cloud Token Cloud Tokens. They claim that they have an amazing arbitrage bot. The claims they have in this case will be paid back to the investors at a rate of 120% per annum. This money will be paid monthly.
Is Cloud Token wallet a scam?
Yes, Cloud Token Wallet is a total scam. I have a lot of supporting information. The website doesn’t offer any information about the owners or even the parties that run the company. The company was also started a few months ago which means they don’t have experience and expertise to offer the services they claim to offer.
Other investment scams and MLM that I have reviewed:
Reasons why Cloud Token is a scam
No known owners
Let’s start here, cloud Token doesn’t pose some serious and known owners or even the development team. This is a clear indication that the developers are hiding something. So, if you want to be scammed, try this website.
Cloud Token is not a real decentralized cryptocurrency wallet
Let’s not even talk about being a decentralized cryptocurrency wallet, Cloud Token is not a real wallet at all. The company only offers access to web servers where you will just see your tokens. It is an Erc20 Token on the Etherium blockchain.
If you checked on the CTO tracker from Etherscan, you can notice that there are only 4 addresses and have only had 5 transactions at the time of writing this review. On their specific addresses, you also notice that one of them holds 99.99% token totaling to 999,999,000 tokens. This is a clear indication that if you buy this scam, you make them a lot of money.
The promise of ROI is a scam
Any company that promises ROI is a scam. This is the main issue with most online money making websites. Most of them will just promise ROI to entice you into joining them. As I had already started, if you buy this scam, you are making them money on tokens that you didn’t even own. Though, some registered and regulated websites can promise you genuine ROI. If we share the same curiosity, then you wouldn’t fall for this ROI scam.
The promoters are serial scammers
Do you know that the people promoting this scam website are all known serial scammers? It is promoted by some notorious scammers such as Faith Sloan, Peter Ohanyan, Ankur Agarwal and a couple of other serial scammers.
This team is a very serious team of scammers that are not even caring if the site is a Ponzi. These people only care about being paid the commission to recruit subjects that will be scammed without notice. This shows how greedy and immoral they are, they lack integrity.
There’s no proof of trading with Jarvis
These scammers claim that they generate ROI using the Jarvis AI Bot but they don’t provide any kind of proof. This is something that does arbitrage trading on various cryptocurrency exchanges. I bet it’s very easy to show trade logs from any exchange as evidence. The website developers don’t bother to provide any proof because they already know what they are doing to innocent traders.
I even wonder where those transactions and records from Jarvis are because the Cloud Token team claims Jarvis does the trading for their crypto providing the ROI. There’s a need for Jarvis to access your wallet and the transactions and will later deposit the said profits in the wallet when they accrue. This means that multiple transactions are happening in a single process that they don’t show to us as evidence.
No Access to private keys of CTO Wallet
Cloud Token will issue you with the so-called ‘’wallet’’ which is the password or a 6 digit pin. They don’t give you any private keys or passphrases. This is a good reason why you should avoid this website.
Are there any genuine alternatives to Cloud Token?
There are several alternatives that you can go for in case you don’t want to risk your time and money. Though, most of the alternatives cannot as well be trusted 100% because there are some red flags too. Here are some of the alternatives.
Plus Token
This is the best and the most rewarding website that you should be targeting today. It’s a website that offers the same services and is more rewarding. However, there are some red flags with the website too. This website spread across Asia and some leaders were arrested by the Chinese Authorities. This raises questions as to whether this website can be a good alternative to Cloud Token.
WoToken
This is another very reliable alternative to Cloud Token. This company is an MLM opportunity for online investors. Though, with many scam websites available today, there is a need to take some precautions. With this company, you can earn by investing money into one of their packages to earn ROI.
The fact that they promise ROI calls for some precautions. Though, you can try and see if everything will go as promised. The website doesn’t offer any retail products. This means that the only thing they promise is to make money through affiliate membership or by investing to earn some money through their ROI Token Offers and compensation plans.
Cloud Token Reviews
There are no reviews available on the website. The company is also not rated on most rating websites. This means a lot to those people that want to know what previous investors are saying about the website.
The company also features some fake testimonies to lure you into joining and investing. The testimonies are not based on genuine transactions taking place with the website.
Final verdict
Cloud Token is a Total scam. If you want to make money in Cryptocurrency, there are some reliable alternatives that you should be going for. Cloud Token doesn’t have a known creator and also doesn’t show proof of their transactions. This raises questions as to whether the company is a legit service provider or they just want your information and your little money and time to make their own money.
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