Gold Reward is a cryptocurrency-based high-yield investment program (HYIP) that involves purchasing a proprietary digital coin, “investing” it in the system, and then receiving daily ROI between 1% and 1.3% for a period of anywhere from 120 to 280 days. Unsurprisingly, Gold Reward also has an affiliate recruitment program as well.
What Is Gold Reward?
There’s no information on the Gold Reward website that explains who owns the company or who runs it. Additionally, the site’s registration data reveals only its registration date – September 11, 2017 – and nothing else, with the name of the registrant concealed behind a private registration service.
The only thing we know for sure, based on some deeply-buried information in the site’s Terms and Conditions boilerplate, is that the site is operated somewhere out of Panama. Otherwise, there’s no names, addresses, or phone numbers listed – a fact that immediately raises several red flags about Gold Reward as a platform.
Gold Reward Product
While Gold Reward claims to be a nascent digital currency with a number of applications – such as being used as a currency for rewarding individuals playing mobile games – the only activity individuals can participate in right now is purchasing Gold Reward tokens. Referred to as GRX, these tokens can be purchased with either Bitcoin or Ethereum.
Once you make a purchase, you can either hold your GRX and hope it will increase in value (unlikely) or you can participate in Gold Reward’s HYIP investment opportunity, which functions as follows:
- Invest between $100 and $1000, receive up to 1% ROI for 280 days
- Invest between $1001 and $5000, receive up to 1.1% ROI for 260 days
- Invest between $5000 and $12,000, receive up to 1.2% ROI for 170 days
- Invest between $12,000 and $100,000, receive up to 1.3% ROI for 120 days
Gold Reward Opportunity
In addition to the HYIP, Gold Reward members can also participate in an affiliate recruitment scheme as well. Investors can earn 5% bonuses on downline referrals, capped at $200 per referral.
Gold Reward Verdict
Gold Reward claims that “investing” in GRX provides high ROI because the company takes the digital coin you deposit and then uses a “crypto-analytic trade automation engine” to grow that deposit. How it accomplishes that is anyone’s guess, considering that GRX is a proprietary coin in a closed system that isn’t traded on any open exchanges.
It’s obvious what’s really going on here: you receive a ROI on deposited funds in a digital currency that’s completely controlled by the company itself. This is a step up from most HYIPs, as they require new recruit deposits to pay off existing investors, but in this case Gold Reward can simply throw worthless altcoins at their investors as much as they like – especially with such long maturation periods. Meanwhile, Gold Reward is collecting valued digital currencies from each and every investor.
Once your investment matures, you’ll be awarded a brand new pile of GRX, which will be, at that point, most likely as devalued as it is worthless.