Swmok Review: Swmok.com Avoid this Ponzi scheme

Swmok Review
  • Regulation
  • Fud Safety
  • Reliability
  • Clients Feedback
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Summary

Swmok is a scheme that has several red flags. We have never heard of this scheme before. They shamelessly collect money from traders across the world without adhering to the rules of the financial watchdog.

Swmok claims that everyone can trade. It is an inspiring statement. However, they fail to mention that one requires financial background before trading. You cannot just join the market and start making high profits. To trade successfully, you need to get the necessary knowledge. Luckily there are multiple free learning resources that you can use. 

The venture boasts it is one of the leading digital currency exchanges. However, this is a company not on the list of CoinMarketCap and other notable cryptocurrency platforms. They are also trading various cryptos. Clients need to verify their profiles before anything else.

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Giving access to your data to con artists is unwise. You will be trusting anonymous individuals with your information. They can do anything that they please. We have seen cases where investors identity land to criminals. Con artists will do anything for the sake of money.

They also want you to add your bank account. Fraudsters urge clients who face trouble registering to download remote access software for them to assist. By doing this, you risk them using the information you have saved in your gadget. There is no trading happening behind closed doors.

Swmok.com Review

It doesn’t matter the country you originate from. Anyone can invest with the scheme. The scheme claims it is the best crypto exchange. They also take low fees compared to their competitors. The most prominent exchanges in the industry include; Binance, Poloniex, Coinbase, among others. 

These are ventures that have been in the market for years. They take tough measures when it comes to the security of their clients. In the past, we have seen exchanges being hacked. Customers end up losing money. Swmok is a scheme in which we do not know their whereabouts. They would choose to exit the market without notice. 

Moreover, the entity is operating anonymously. Legit exchanges will provide the name of their founder and team. This creates transparency between both teams. However, when an exchange that is collecting funds from investors worldwide does this while it is discrete, it raises eyebrows. Something is off with this venture.

If you want to trade successfully, here is a list of some genuine cryptocurrency trading schemes. These are the best companies in the market. You will earn passive income while you enjoy top security measures. 

How Does Swmok Operate?

Investment is one of the many ways that you can use to generate additional income. Cryptocurrencies have grown popular over the years. The number of scammers keeps increasing. They mainly target novice traders. You need to determine if a company is genuine by analyzing how the scheme operates.

For instance, Swmok is a scheme that has several red flags. We have never heard of this scheme before. They shamelessly collect money from traders across the world without adhering to the rules of the financial watchdog.

Swmok is taking funds via crypto payments. Therefore, it helps the people behind the scheme to conceal their identity. The way the venture operates is still a mystery. However, we have seen various scammers that run in this manner. Once you give the firm access to your money, you cannot recover it.

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The system can only survive if there is money coming in. The only individuals that benefit from a Ponzi scheme are their marketers and pioneer investors. The system of the form will eventually collapse. 

About Swmok

The entity claims it was founded in 2014. The venture is operating in over 246 countries. They also brag about having thousands of existing traders. Do not let this manipulative scheme deceive you; they are legit. According to Whois.com, we found information showing the platform was registered in 2009. 

This may make you think that the firm has a history in the industry. However, the website has not been active. The venture started its crypto business later on. Them not being in the database of coinmarkercap.com is a big red flag. The scheme does not have thousands of investors. The statistics are fake. 

Regulation Status of Swmok

The government cannot control cryptocurrency. However, this does not mean that companies offering financial services to investors do not need a license. Swmok allegedly claims it has a regulatory certificate from the US and the EU. However, this is another fabricated info. 

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The company does not have a license or a registration form. Therefore, your information and funds are in danger. If the platform decides to exit the market today, the authority won’t help you. The trading conditions and withdrawal requirements of the firm could change overnight. 

Scammers do not value their clients. They can also refuse to handle your withdrawal requests. The law requires that all the schemes collecting funds from the public must reveal the people behind their business.

Customer Support and Contact Details

The Swmok is operating as an exchange. They will have multiple clients. Therefore, if this were a genuine venture, they would have planned. They would hire multilingual support to cater to the needs of their customers. A fast communication model would also be considered. 

However, the only way that clients can contact the entity is via email. The country of origin of the firm is missing. A venture that does not have an operating office is not worth your time. The anonymity of this company is problematic. 

Clients Testimonials

Swmok claims it has been in the market for years. However, we cannot find a single review from their customers. We find it hard to believe that a reputable firm does not have endorsements from clients. It is important that before you trust any scheme, you research and find what their customer’s experience is. 

Legit exchanges in the market have reliable information from their clients. You can get the best insight. The best companies also have their trading results available. They provide all the necessary information that investors need to trust them.

Does Swmok have Fund Safety Measures?

Swmok does not care about investors’ funds. They are not working with a financial institution. Neither has the platform cared to deposit capital in their name. Therefore, if anything goes wrong, like the venture is hacked or faces bankruptcy, you will not receive compensation.

Where would you even start when the entity closes down its business? There are no traces that could lead to their whereabouts. The location is undisclosed. The founder and team information is missing. Be mindful of your safety and avoid this scheme.

Final Verdict

Swmok is a company that does not have a license. However, the venture also lies it has regulatory form. After checking on several databases, we couldn’t find the name of the venture. The scheme claims to be profitable, but they do not have enough cash to hire professional customer support. 

The entity is operating as an exchange. Avoid this company at all costs as they are also using false statistics. The company has low traffic visiting its website. They are also anonymous.

Instead of wasting your time and funds with Swmok, invest with the best cryptocurrency investment firms. These are some of the leading ventures in the market. They have the best trading conditions, support, and you can read their client’s reviews. 

 

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