Fundstream.biz by Coinstream Limited is an interesting mixed bag when it comes to legitimacy. Even at first glance, one can be almost 100% certain that this is another cryptocurrency scam, carrying the most typical characteristics of a pyramid scheme. What exactly does Fundstream offer? It promises investors a return of 10%-18% per day, for life, and no, we are not making that up. That’s just the way it’s spelled out black on white on the homepage of the operator.
What is also spelled out is the fact that once an investor makes a deposit, it automatically “becomes part of the company’s financial assets” and it cannot be returned. The money you deposit there is essentially a donation to this group of scammers. You shouldn’t worry too much about that though…after all, your investment will be yielding 10-18% per day for you, for life…or is that “throughout the period of the company’s operation?” which could indeed be extremely short. Now it is the time to start worrying.
Investors will be able to withdraw their profits as soon as the threshold of 0.0005 BTCs is reached – which – we’ll venture a guess – will never actually happen. The minimum deposit has been set to BTC 0.001, so everything is calculated in a manner that will keep investors from requesting a withdrawal for a good while.
Obviously, the more one deposits, the more he will earn. The 10% is valid for the above specified minimum deposit. The maximum deposit is BTC 60, and it is said to generate daily profits of 18%.
To round out the Ponzi-scheme picture, we have a “new money” generating component implemented too. Every Fundstream investor can get in on a referral deal of 7% on first tier referrals, 2% on second tier referrals and 1% on third tier referrals. This is essentially the affiliate deal pushed by Fundstream, a setup which has already prompted webmasters of dubious moral integrity to post a number of positive reviews for the operation. The new deposits are needed to keep the pyramid from collapsing, but collapse it will in due time, nonetheless.
How exactly are these downright fabulous daily returns actually realized though? According to Fundstream.biz, through speculation on the cryptocurrency and stock exchanges. That’s all the information we’re fed in this regard. To call that vague would be a major understatement. That right there is your second massive scam-indicating red flag (as if you needed another, having read the first couple of paragraphs above).
Who is behind the scheme though? Surely, no one will put his name on a scam as obvious as this one…wrong. The Fundstream website features a rather standard and informative About Us section, through which we learn that the corporate entity behind the site is a company called Coinstream Ltd, registered in the UK under company number 10713354. The company office is located at 125a Avenell Road, London, United Kingdom, United Kingdom, N5 1BH, and the person behind it all is Edgar Ballard, who is the active Director. Coinstream Ltd was incorporated on April 6, 2017 and actual operations were started on April 30, 2017.
The general community feedback is a mixed bag, as are the reviews you’ll find through Google. There are people expressing suspicion at the brazen business model, while other are defending it, saying they’re actually receiving money from Fundstream. Still, when your defense of an operation consists of repeated posts which state that “on May XX, Fundtream is STILL paying”, you may end up doing more harm than good credibility-wise. It’s as if even these people admit this is a Ponzi scheme and they’re expecting it to shut down any day.
Interestingly, neither the community at Bitcointalk, nor the Reddit-sphere has posted anything on Fundstream yet. Given the shall we say “tender” age of the operation, that isn’t exactly surprising, even less so given how there’s probably no real investor feedback available on the scheme yet.
Taking a close look at the actual Fundstream website will not instill more trust either. The homepage copy is rife with typos and grammatical errors, as well as sentences that make absolutely no sense, no matter how many times one reads them over. Let us just gracefully glide over that though while we take a look at possibly the only thing that could actually reveal a real person behind the scam: the domain registrant info. As expected, the identity of the domain owner is WhoisGuard-protected. We do learn that the registration was made from Panama, and we have a PO-Box as the registrant’s address – very trust-inspiring indeed. Registered on February 22, 2017, the domain quite surprisingly accrued with a rank just above 100,000, even though no other domain seems to link to it. Its authority rank of 1/100 fits well with the picture though. Apparently, most of the traffic drawn by Fundstream.biz currently originates from the US, India, Brazil, France and Nigeria.
Fundstream Review Conclusion
Everything about this operation screams SCAM and Ponzi scheme, loudly and proudly. It has every Ponzi scheme element in place and it even tells people it’s going to take their monies. Of course, there are a vocal few who may actually get paid every now and then but remember how Ponzi schemes work: they pay for a while as they attempt to draw in new money. The steam runs out though and sooner or later, the pyramid comes crashing down. Fundstream will collapse as well, it is only a matter of time.
The only puzzling thing about the operation is how the identity of the Coinstream director is made public. It really doesn’t fit into the bigger picture. We will certainly not be surprised though if it gets revealed one day that this identity is a fake one, as is the information provided about Coinstream Ltd.