YuanPay Group Scam – Read before Signing Up
Scams are plentiful in today’s cryptocurrency world. Every day, more and more brokers pop up claiming to be one thing but being nothing more than websites designed to part you from your money.
We’ve taken it upon myself to investigate as many of these alternative brokerage sites as possible. Some of them are legit, although many of them are not. By doing the investigative work for you, we aim to help you navigate this minefield of scams and traps.
With that being said, let’s talk about YuanPay Group. YuanPay Group is a brokerage dedicated exclusively to a coin it’s calling E-Yuan.
We’ve taken the liberty of digging into this cryptocurrency myself, and we are bringing you my results in this review.
It’s important to note that these are just my experiences with the platform. What we went through and what you go through may not be the same. Remember, even if we trust a platform, you need to keep your wits about you and your wallet tightly secured.
What is YuanPay Group?
Needless to say, if this is true, then it’s a big deal. We’re already seeing the various superpowers of the world battling it out over cryptocurrency, with the SEC seeking regulations and the EU moving to create its own coin.
If this is China’s player in the game, then it might end up as a serious contender to Bitcoin’s title.
Is that the truth, though?
It’s hard to say, although things are looking positive.
YuanPay Group has been developing the coin since 2014 with the help of various Chinese financial institutions, so the existence of such a currency is not a question for debate.
However, the Chinese government has yet to adopt it as the official coin of choice for the ever-brewing cryptocurrency cold war.
The CCP has expressed an interest in the coin, however. There are rumors that the State is going to adopt and launch E-Yuan in 2021, which would be nothing short of a historic turn of events should it happen.
YuanPay Group is the organization that acts as the sole distributor for the coin. If the CCP does begin to use E-Yuan, it would have full control over the regulation of the coin, something which the government would very much want.
YuanPay Group Review
The account creation process was smooth and simple, as was depositing on the site. we saw my money transfer into E-Yuan, so it’s not like it just vanished into thin air, either.
The site and UI are very well put together, something which isn’t typically associated with crypto scam platforms, and it has the endorsement of several people who all claim to have profited off of the currency.
While we haven’t explored YuanPay Group enough to give you a deep and inquisitive review, we are confident in saying that everything seems above board.
The site is jampacked with information about the group and the coin, which we appreciate, and the story of it is actually quite interesting.
There’s one thing we are sure of, and that’s if China does adopt E- Yuan, it’s going to change the crypto landscape as we know it.
Additional Yuan Pay Group Reviews
Of course, it’s not just my review of YuanPay Group that matters. Before you invest money into anything, it’s important that you do your research and shop around. See what other people are saying and what they’ve experienced.
This rule of thumb remains the same for YuanPay Group, and it’s something that We’ve done myself.
Of course, there are negative reviews online of people that have had a bad experience with E-Yuan, but that’s the same with any cryptocurrency. The number of good reviews outweighs the negative from my research, and the general consensus seems to be that everything is working smoothly for other people as well as myself.
Things that other reviews tend to highlight how easy it is to navigate around the website, the power of the technology behind E-Yuan, as well as the wealth of information that the group offers people on the subject.
I always encourage people to check things like this out for themselves, so feel free to do so. However, the group so far has my seal of approval, so we are happy in saying that the platform is legit.
How YuanPay Group Works
We are not a big fan of all the security measures you need to go through to create an account with the likes of Coinbase or Kraken these days. we get the need for them from these bigger brokers but opening up an account always takes hours. It takes a few days for you to actually be capable of buying crypto, during which time your opportunity might have passed.
YuanPay streamlines that process and only asks for your email and phone number, making the whole ordeal go by in a few minutes.
After that, you need to make your first deposit. we like when brokers have low minimum deposit figures, and YuanPay doesn’t disappoint in this regard. The minimum limit is $250, meaning you don’t need to take out a second mortgage in order to invest.
After that, the whole trading process is nothing, but a button click, literally. YuanPay Group only facilitates the trading of E-Yuan, meaning the entire system has been streamlined.
This is one of the bigger advantages to having a platform that only trades in one currency; everything is focused on it, providing a better trading experience than if a platform offered several different coins.
It’s not the biggest broker out there by any stretch of the imagination, but it would be pointless for us to recommend an alternative broker to you.
YuanPay Group is the only platform in the world that is licensed to distribute E-Yuan. This means that you’re not going to get that coin on any other site or on any other system.
If this cryptocurrency is one that you’re interested in, then you don’t have much of a choice in the matter.
However, that balances out with the fact that you can only trade E-Yuan through the broker. If you want to diversify your portfolio, which you should, you’re going to need an account with a different crypto provider.
There is no shortage of places to trade crypto these days, and We’ve already provided you with two recommendations in the form of Coin Base and Kraken. Therefore, if you’re looking for a recommendation, those are the two sites that we use.
Characteristics to Look for in a Broker
When you’re looking for a new broker to invest with, there are a few different characteristics to keep an eye on. These can give you green or red flag indicators, so it’s important that you’re paying attention.
First and foremost, we look for how many users a brokerage has. YuanPay passes this test with flying colors on account of its large and robust investor pool.
After that, we check to see how well made the website is. Oftentimes, scam crypto sites put the bare minimum into developing the website. The result is a WordPress platform with broken buttons and links that lead to nowhere.
YuanPay Group is very impressive in this regard. It’s better built than a lot of the other legitimate alternative brokers that We’ve looked at in the past, so it gets flying colors here, again.
Lastly, we like to check the reviews to see what people are saying. While reviews for any crypto broker are going to be mixed, YuanPay tends to have an above-average rating score, which is more than good enough for me.
Recommended Ways to Invest
Instead, we are going to give you my recommendations for diversifying your portfolio with E-Yuan.
Firstly, we always have to mention Bitcoin. It’s the big one for a reason, and there’s not a crypto investor alive that hasn’t put some sort of cash into it.
There are countless places to invest in Bitcoin online, so if you’re reading this, then you likely already know where to go to buy it. Otherwise, use Kraken. we love that platform for a reason.
Aside from Bitcoin, you have the other heavier hitters like Ethereum and Tether. These three are always leading the market, so it doesn’t hurt to have a stake in each of them.
Aside from the big cryptos, you should have a diverse range of altcoins in your portfolio. XRP is always going to be a sleeper hit, as is LINK and VET.
Of course, we are recommending you put some E-Yuan into that portfolio, too. It’s got too much potential to be ignored. If the CCP does begin to use the coin, you want to have access to it before it skyrockets in price.
Tips to Invest Safely
The best kind of security you have against losing your investment is common sense. If you don’t make stupid and ill-informed decisions, then you’re never going to be a loser.
This includes never investing more than you can afford to lose. If you have disposable money that is just sitting there, then fire away! Just make sure you’re not tapping into the mortgage account to buy a coin or a stock.
Aside from that, all of the tips we have are the ones you’re likely used to hearing. Keep your identity a secret in any trading circles you’re involved in and never share your password or key, always buy your ledgers and wallets from official sellers, and keep all your cards close to your chest.
So long as you’re tiptoeing around every financial pitfall you come across, you’re going to be just fine.
With E-Yuan, just make sure you’re keeping the details of your account to yourself. Don’t share your password or email; otherwise, you could fall victim to a phishing scam.
The Bottom Line
I don’t have any major complaints; everything is as solid as it could be. The platform is beautifully built, and the group does anything but try to hide the story of E-Yuan.
Everything is out in the open from the moment you enter the website, something which scam crypto brokers don’t do.
The trading process is also perfectly acceptable. Making an account is a simple and quick process that is a fraction of the hassle it is on larger sites, as is making a deposit.
The trading system itself is very simple, but it doesn’t have to be anything but that. You’re only trading one coin on this platform, so you don’t need a massive range of tools and research materials.
Overall, we are happy with YuanPay Group. While we would certainly recommend you only use it to diversify your portfolio and not as your main method of investment, it’s a decent choice if you want to step outside the Bitcoin boundaries.
If we were to give the platform a score, which we are hesitant to do, it would be a solid 8/10. However, all that matters is that it gets a thumbs up, which it definitely does.
If you’re interested in trying out the platform for yourself, you can open up an account here.