Crypto Engine Review | Is This the One for You?
The way cryptocurrency has grown in popularity over the last few years makes it very hard to resist not joining the bandwagon. It seems like every other news article is talking about it, and if what they say is true then the future is definitely bright for crypto.
While it is all well and good to join the crypto craze, one should be very careful when deciding which online broker to go for. A lot of online trading platforms are really quite good and have assisted a lot of people to trade and invest in cryptocurrency. However, there are also a lot of scammers out there looking to make a quick buck off unsuspecting traders.
It can be very difficult to weed out the unscrupulous brokers from the legitimate ones, especially when they all seem to promise the same things. Thus, for the purposes of this review, we decided to test one such online broker, and we shall present the results here to assist those who might be considering signing up for this platform.
Crypto Engine, is an online trading broker that promises to help users to make great trades and generate a lot of profit in a short time. On the surface, it looks like any other online trader that one might come across online, but after we registered on the app and tried to use it, we revealed the truth about this company. Read on and discover whether or not Crypto Engine is right for you.
What Is Crypto Engine?
It is an online trading platform that allows users to register on the site and trade in cryptocurrency. Like other brokers of its kind, Crypto Engine allows traders to deposit money for use in real-life trading transactions. The platform is loaded with a variety of options and trading tools designed to make trading easier, such as a user-friendly interface, a low initial deposit, and a demo account.
After using Crypto Engine for a while, we discovered the following pros and cons:
No proof of identification required
No withdrawals possible
Unsafe trading platform
Support is non-existent
Reputation is poor
Is Crypto Engine a Scam?
Every day, we hear stories about people being scammed by online predators and losing a lot of money. While these stories might seem far-fetched at times, in our case we experienced such a situation first-hand. Crypto Engine will promise you the world, but after we peeled off that veneer of falsehood, we found that this was nothing more than a scam.
The reviews that Crypto Engine posts on its site of people who have made good returns on their investments are all false. It was impossible to verify whether any of these people were actually people who had made money on the platform, or just people trying to boost sign-ups for the broker.
Crypto Engine’s dealings are not transparent, and you will be hard-pressed to find any real person who has made money from using their platform. Its so-called support team was impossible to get hold of, and it seems the only response we could ever get was an automated one. No help or explanation whatsoever is given with regards to how the money is being used up in the account.
Trying to do even one trade was impossible because it seems that this platform is not even linked to a single market trader. What appears to be a normal place to do crypto trading, only leads you into the hands of unscrupulous brokers who demand more and more money.
How Crypto Engine Works
The following are the key features of the Crypto Engine that you should be aware of before you decide to invest on this platform:
Crypto Engine does have a verification process that you are required to do as per “Know your Client” protocols. This step is completed via email and should only take a few minutes to complete.
Our experience with the verification process on other platforms led us to believe that Crypto Engine was just putting on a show without actually making any efforts to verify the identity of the client. The only thing they truly verified was our cash deposit.
Brokers are in charge of handling your account for you, and in this case, since the automated trader was not working, they were also responsible for executing the actual trade. The broker was a very fast-talking individual, who was full of promises on making huge profits.
Our efforts to oversee our own trades, as is the common way to do online trading, were all in vain. All our trading was done through the broker who quickly lost all our money before suggesting we deposit some more.
On paper, no fees are charged by Crypto Engine and they put a huge emphasis on this point when trying to attract new clients. The reality though is different and if you are not vigilant you might be duped into depositing more money than you have to.
If we had not set a deposit limit for ourselves at the being of the investigation, we would have ended up paying a lot more money than what is charged by other brokers who require fees.
Unfortunately, we never saw our money again after we had done the first deposit because, despite our valiant efforts, we never got to the payout stage and our money never generated any profits.
If the rest of the platform is a good example, then the payout system was likely fake too. This is what led us to believe that the reviews were all concocted to lure unsuspecting clients to the platform and relieve them of their money.
The Crypto Engine platform was full of testimonials that sang praises for this software, claiming to have made a lot of money easily. All over the website, people spoke of how life-changing their experience was and encouraged other users to sign up too.
However, we did not buy into that, and our trading experience backed us up on this. Nothing at all worked as they said in those testimonials, especially when it came to withdrawing money.
The support team was not at all helpful. In fact, we concluded that in all probability, the support team was non-existent. All we received were automated responses telling us to leave a message detailing the nature of our inquiry. Efforts to follow up on raised issues proved fruitless until we finally decided that no support was going to be given to us.
We tried to withdraw what was left of our rapidly depleting funds but we had no joy, and the real nightmare began when it dawned on us that we would never see a dime off our original deposit.
It seems the platform works on a one-way traffic basis when it comes to money. You can deposit money easily enough, but you will not be able to withdraw. A lot of hurdles and unrealistic requests will be made, and in the end, you will realize that it is far less trouble if you just leave the money.
The Sign-Up Process
Signing up to Crypto Engine is a very easy process, which only requires a few steps, a little bit of time, and an active email account. If the rest of the platform was like the sign-up process then this would really be an amazing online broker. Here are the few steps we needed for us to become members.
Create Your Account
To create an account, the first thing you need to do is go on to their website and find the registration page shown below. Enter the required personal information and then click “Register Now.”
Check Your Email
Once you have completed the online registration the next thing you should do is log in to your email account and look for the email from Crypto Engine. This process is supposed to be done to verify the user’s details, but with this trading platform, it all seemed like going through the motions. We doubt if any proper checking was done at all.
Learn About the Platform
If you intend to put money into this account, then it is wise to learn all that you can about it. This will be a bit difficult in this case because, unlike other trading platforms, Crypto Engine does not have a lot of information to offer you. If you were hoping for some educational material, then you are out of luck because there isn’t any.
You will just have to rely on the word of the brokers that everything is in order. This is not an ideal scenario considering that you will be depositing real money into this platform.
Even though we were quite skeptical, for the sake of this review we went ahead and started trading. All was going well until we tried to finalize a trade, at which point the system gave us some kind of error message and quickly diverted us to the broker who eventually used up all the funds.
All efforts to do any proper online trading were in vain as Crypto Engine only seemed interested in taking out money, using it up quickly, and then asking for more funds.
Key Features of Crypto Engine
A lot of promises were made by the broker page that proved to be impossible to live up to. Everything seems to be geared towards making you invest more and more money without getting anything at all in return.
Ease of Use
The sign-up process and making a deposit were very easy. Everything, however, was complicated after we made our deposit. The software does nothing at all and is a complete waste of time.
As can be expected, the reputation of Crypto Engine is very poor due to its shady dealings. Even though its developers have added a lot of positive reviews on their platform, the fact is more and more people are starting to realize what a phony platform this is.
Platform Safety and Transparency
Crypto Engine is not the ideal place to invest your money because everything is just one big scam. The fact that it is virtually impossible to make any money at all makes it very difficult to trust anything about this platform.
Is It Possible To Withdraw Earnings?
No withdrawals are possible on this platform. It seems that Crypto Engine is not at all interested in ever returning any of your money. The difference in the ease of depositing money, and the difficulty of trying to do a withdrawal, is glaring.
The first day you deposit your money into Crypto Engine, is also the last day you will ever see it. There is no chance whatsoever that you will make a profit because that requires some actual trading to actually take place, and in our opinion, Crypto Engine has neither the access nor the desire to make any trades on your behalf.
Crypto Engine is nothing like what it claims to be. It cannot even be defined as an automated trader because at no point does any trading take place. It is simply a quick and easy way to lose all your money. We would never recommend that anyone sign up to Crypto Engine because the hope of making a profit is zero.
We will not recommend that anyone trade on this platform unless they want to end up broke. There are a lot of other online brokers of good repute, such as Naga and pattern trader, to choose from.
Our experience was not an isolated incident either, with a lot more people coming to the conclusion that Crypto Engine is not the kind of broker it claims to be. This is not the kind of place to make money. It is the perfect place to lose every cent you have worked hard for.
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