Kryptonex Research Group is a private company that claims to be contracted by the Swedish government to launch a crypto coin on the country’s behalf. Additionally, the company states that it has the details about this launch but can’t disclose this information to the general public. Nonetheless, Kryptonex Research Group is allegedly providing insider data about this crypto coin to investors who subscribe to the platform. However, the big question everyone is asking is whether the Kryptonex Research Group is a scam or if it offers a legitimate trading opportunity.
Is Kryptonex Research Group Legit? Should You Invest?
Our Comprehensive Kryptonex Research Group Review: Why Is It a Scam?
Additionally, the claims on the website seem too good to be true, which typically means that such claims are false. This is the case, as many online reviews have stated that the information provided on the Kryptonex Research Group is false and untrustworthy.
Moreover, our hands-on testing has revealed that the website is unprofessional and insecure while its customer service is unavailable. Kryptonex Research Group also doesn’t have a phone number or physical offices where this company can be contacted.
What Is Kryptonex Research Group?
The first problem is that no government in a civilized world would partner with a private company that doesn’t have any traceable physical addresses nor any known experience to make such crypto. Additionally, a legit business wouldn’t offer insider information on a specific project to anyone willing to invest $250.
The claims made by Kryptonex are blatant lies and are used to entice potential investors to sign up with the platform. From here, you’re required to deposit money while getting partnered with untrustworthy and unregulated brokers.
Nonetheless, it’s important to understand that the government of Sweden is planning on launching a crypto coin. However, this is not being done through the Kryptonex Research Group. If you wish to invest in the real Swedish crypto coin, we recommend that you seek information from only reputable sites. This can provide you with reliable information.
How Does Kryptonex Work?
From our extensive research, we have found that the Kryptonex scam model involves gaining investors to deposit money while being paired with unregulated brokers who are likely to make this deposit. There are many complaints on the site that state the company blocked these investors once they had made a deposit.
Additionally, the information used when signing up with Kryptonex is sold to other illegitimate brokers who continually contact you once you have already been blocked from the Kryptonex. You also can’t contact this trading site, as there aren’t any physical addresses or customer service lines. Here are other features that make this Kryptonex platform a scam:
Account Creation and Fake Trading Platform
However, we have found that this insider information is only a solicitation to entice people to sign up with the site and be partnered with unregulated third-party brokers. Many investors didn’t hear from this company again once they made their deposit and some were blocked from using their account after depositing their investment.
After our review, we have determined that the Kryptonex Research Group is equipped with a poorly-built website and doesn’t incorporate any secure cybersecurity practices into the design of the site. We found that this platform isn’t secure and typically changes from one domain to the other. This is a common characteristic of most scam platforms.
Another problem is that this sign-up process requires too much information about the investor. This is a massive red flag, as it indicates the platform might be selling this information to outside parties. When registering for a trading platform, the account registration process should only take the necessary details.
However, Kryptonex Research Group doesn’t offer this and it’s believed that the information you do provide is given to third parties. We found many complaints online where investors stated they began receiving calls from brokers when they created this account on the Kryptonex Research Group platform.
Moreover, Kryptonex isn’t equipped with a strong password policy. In contrast, serious investment and trading platforms have measures in place to ensure these potential investors create strong passwords for added security. With this weak password policy, many individuals are at risk of being hacked if they sign up for Kryptonex. This is because a weak password offers an easy entry point for hackers.
Like with most scam crypto sites, Kryptonex Research Group is making false claims in an attempt to attract more account registrations from less-experienced crypto investors.
However, this tactic of associating celebrities with a crypto platform isn’t new. Unethical and untrustworthy affiliate sites have been using the tactic for many years to boost sales volumes.
When selecting any investment site, we strongly suggest doing enough due diligence. You should never rely on any recommendations made by celebrities, as it’s also likely for these individuals to fall for a scam project. Additionally, these associations with such celebrities might be fake.
Moreover, Kryptonex claims to appear on Bloomberg, CNBC, and Forbes. After checking up on this, we can confirm that this trading site has never appeared on any of these platforms. Thus, these claims are nothing more than a marketing gimmick set up by this site to entice investors and take more money from people.
We can’t express how crucial it is for individuals to carry out their own research before they go ahead and begin subscribing to any platforms that claim to provide members with insider information or investment opportunities.
Our review has shown us that Kryptonex is a scam, but might be viewed as legitimate to investors who don’t conduct their own research first. This is because of the false associations listed on the Kryptonex Research Group platform.
Even worse, this trading platform has also gone to the extreme extent of creating a fake Coindesk news page. This indicates that the site has taken every necessary step to attract unsuspecting investors through unethical and false marketing tactics. Thus, we find Kryptonex Research Group to be an outright scam that’s likely to face many lawsuits if the founders reveal themselves.
The Deposit and Withdrawal Process
Most of these brokers are a scam. This means that many investors end up losing their deposits. When conducting our review of the Kryptonex Research Group, we found many complaints online about members of the Kryptonex platform being blocked from the site after making this initial deposit.
When signing up to become a member of the Kryptonex Research Group, you’re required to invest $250 to receive these insider tips on the soon-to-be-released Swedish crypto coin. However, you don’t receive any information on this coin and lose your initial deposit of $250.
We also find it worth noting that the deposit method that’s accepted by Kryptonex’s partner brokers is through cryptocurrencies like Ethereum or Bitcoin or wire transfers. These are untraceable deposit methods. Meaning, it’s impossible to trace these brokers if they disappear with your investment.
Kryptonex also doesn’t offer a moneyback guarantee and we couldn’t find any definite information about the withdrawal process on this site. However, we do understand that most investors lose access to their trading account once they make a deposit. Meaning, the likelihood of there being a withdrawal feature is very slim.
Is Kryptonex a Scam? Our Verdict
Although it claims to be in partnership with the Swedish government, this is fake as well. Moreover, we have uncovered that this website sells members’ data to shady and untrustworthy brokers. From here, these brokers are likely going to run off with your initial investment once you sign up with the platform.
No valuable information is available that details members who have made money when trading on the Kryptonex Research Group. Thus, we strongly recommend that those interested in trading with a trustworthy auto-trading site stay clear from this trading platform.
What Trading Platforms Should You Use Instead of Kryptonex Research Group?
However, the internet is filled with many misleading scams like the Kryptonex Research Group, which can make choosing the right platform challenging. Other scam bots include Immediate Profit and Crypto Bank.
Luckily, we have researched various trading sites and have found some suitable and trustworthy options. In our search, we have found auto trader bots like Bitcoin Era and Crypto Trader. These are legitimate auto trading sites that you can use to trade cryptocurrencies safely and securely.
Frequently Asked Questions
No, Richard Branson has never invested in Kryptonex and hasn’t shown any interest. The claims stated that he is an investor in the Kryptonex Research Group site are false.
We have evaluated this trading system and understood that its features and overall platform are a complete scam. You aren’t likely to see any return on the money you invest into this site while you’re also likely to lose the initial deposit you place in your account. Thus, we recommend that all readers stay away from this site.