EthTrade claims to be an online investment company that provides opportunities to invest in the Ethereum digital currency for a ROI of approximately 15% to 25% per month. EthTrade additionally offers affiliate income opportunities as well.
What Is EthTrade?
There's next to nothing concerning the identities of the individuals behind EthTrade, its physical location, or anything else regarding the origins of the company.
The site itself was registered in February of 2016 through a private domain name registrar, and the company itself provides links to incorporation documents filed in Hong Kong but the names and addresses of principals have been blurred save one – a Pete Everhart, with a listed address in Hastings, Sussex, on the southern coast of the UK. E
verhart has no discernible internet presence.
There is no product associated with EthTrade. The core activities individuals can engage in are investing and/or recruiting affiliate investors in turn.
There are six tiers of membership in EthTrade. These tiers not only control your weekly investment and withdrawal limits but also the commission rates you are eligible for when it comes to referrals.
The initial starter level, Frontier membership, is free. However, this limits you to weekly investment limits of $500, weekly withdrawal of $300, and limitations of a three-position deep downline when it comes to deposit and profit commissions.
Increasing investment amounts in the company or building turnover to certain levels makes members eligible for higher ranks, which unlocks a downline up to five levels deep at slightly higher commission rates.
The thresholds are as follows:
- Homestead: minimum $500 investment/generate at least $5000 in downline volume
- Metropolis: minimum $3000 investment/ generate at least $30,000 in downline volume
- Serenity: minimum $10,000 investment/generate at least $100,000 in downline volume
- Co-founder: minimum $30,000/or generate at least $500,000 in downline volume
- Co-founder+: generate at least $1,000,000 in downline volume
The minimum donation amount is $10. The maximum donation amount is $30,000.
Scuttlebutt in the world of cryptocurrency is that EthTrade is not a legitimate investment opportunity but is instead a MLM recruitment-style scam. There's plenty of evidence that points to this conclusion, which we share.
Firstly, the length that EthTrade goes to obscure the identity of those involved in the business is incredibly deep.
Registering the company in Hong Kong and then blanking out the name and every address of every principal save one is highly suspect, as is the veracity of that final principal's identity as well, considering the “Pete Everhart” listed doesn't seem to exist.
Legitimate trading companies would never conceal so much information about themselves, indicating that the company has something to hide.
Next, while there is plenty of valid, accurate information on the EthTrade website concerning the cryptocurrency markets and their movements dating back to January of 2016, there's absolutely zero proof that the company is trading on the digital currency market to generate profits, as it claims to do.
The monthly margin figures the site quotes are impressive, to say the least. Accompanying these figures with an overall month-by-month market breakdown of how Etherium fared provides a veneer of legitimacy, but is misleading – the market information is highly accurate, but there's no verification of any activity on the part of EthTrade traders, just a list of unverified, possibly fictional trades.
Finally, if EthTrade has been operating from January 2016 as it claims, why was the website not registered until February of that year – and why was the company not registered until the following April?
Additionally, the earliest archived version of the site from June 9th of 2016 – according to the Internet Archive – features a whole raft of information that is even more contradictory, such as a founding date of 2015 and bogus, obviously fictional executives that make use of stock images as profile pictures.
Based on all this evidence, we can't in good conscience recommend becoming involved with EthTrade as an investor or an affiliate recruiter. There are too many unanswered questions and inconsistencies for us to trust any claims made by site and its administrators.