Have you heard of Groveblock Crypto? Have you being approached by a Chinese asking you to invest? Do you want to know if it is scam or legit? Read this review to find out more about Groveblock
What is Groveblock?
Groveblock located at Groveblock.com is a scam website that claims to trade Crypto. It claims that it was created for people interested in crypto markets but had little knowledge about trading or how cryptocurrency works
According to the website it claims to offer safe storage to manage digital assets using a combination of cold wallets & Multi-party computation (MPC) technology, it also claims to use the latest technologies to keep funds safe, and stay ahead of vulnerabilities and exploitation attempts.
The app claims to have been built around a proven-formula for winning trades & that all you need to do to begin profiting is simply make a deposit & then activate it.
However this Groveblock is a scam, it So it sends some btc to your wallet by using a referral code on their exchange but in order to withdraw any bitcoin you are asked to deposit 0.015btc minimum. This screams FAKE.
The people behind these scams simply keep on launching new “systems” and “apps” under new names like Dotxbep, Dotxswap an attempt to escape the negative reviews so that they can continue tricking people into joining.
There is no doubt that that Groveblock is a scam as several people have left some negative reviews online calling it for what it is, A SCAM.
Some investors had this to say:
I was introduced to www.Groveblock.com by someone I met over the internet. I deposited 2500.00 in the account. I made 2 transactions. Gained $484.00. Went to withdraw and was told I had to do 10x the amount in transactions. I logged in two weeks later and was told my account was frozen. A complete scam site. Do NOT DEPOSIT OR TRADE ON THIS PLATFORM. YOU WILL NEVER SEE YOUR FUNDS..
Mark
4 Reasons Why Should Avoid Groveblock.com
- The website is not regulated by any regulating body as such the people behind it can do away with your money at any given time.
- They offer high fees and commissions.
- There is not enough information on the website.
- When it is time to withdraw, they come with so many excuses and at the end you cannot withdraw and end up loosing your money.
How The Groveblock.com Scam Works:
- At the initial stage they lure you with with fake promises of high returns and low risks.
- Then you are asked to provide your personal and financial information.
- You are then asked to deposit a minimum amount of money (usually $250) so you can start trading.
- When it is time to withdraw your funds, they come up with various excuses, often times you are asked to pay tax which is way higher than your initial deposit, when you do, you still cannot withdraw your money, you’ve been scammed.
Conclusion
From the foregoing, it is clear that Groveblock Trading is a scam just like Dotxbep which we reviewed earlier, Investors should be wary of such sites as their aims are to rip off unsuspecting investors.
