Cloud Token Review: Another Mobile App Crypto Ponzi Scheme
A Cloud Token promoter challenged me to install the Cloud Token wallet so I could see that it was real.
They obviously didn’t consider my cryptocurrency technology background. I’ve installed, used and programmed many real crypto wallets.
So I took them up on the challenge. I downloaded the app from the Play Store and proceeded to install and use it. I, of course, needed to first create an account.
Interestingly, when I started to create an account it first asked me for a referral code. What? I have never seen a referral code in a real crypto wallet. It’s obviously related to the MLM nature of Cloud Token.
A referral code implies that my decentralized wallet is using the referral code to link me to someone else in the Cloud Token system. I just made one up and it allowed me to create an account.
It asked me to create a pin code, then a payment pin code. Afterward, it displayed a pneumonic set of 12 words. That’s normal for a crypto wallet. But surprisingly, there never was a public address or private key created or display for me.
Oops! every real decentralized wallet has both private keys and public coin addresses.
The wallet also displayed accounts for several real coins like; Ether, Tether, Bitcoin, Litecoin, Bitcoin Cash, TUSD, and DOGE. They claim that this wallet is a decentralized multi-currency wallet.
I could click on any of the real coin accounts in my Cloud Token wallet and select options to deposit or withdraw. When I selected deposit it displayed a QR code to deposit to.
Wait a minute, where is the private key? There is no private key for any of the real crypto coin accounts in the Cloud Token wallet. Every real crypto decentralized wallet has a private key. It’s the only way you can access your coins.
Who knows where the coin address belonged to that they wanted me to deposit to? It didn’t belong to me because I did not have the private key.
And the Cloud Token account in my wallet also had no private key. Real decentralized wallets are completely under the control of the user with no company or entity behind it.
I am the only one that should know about my wallet. But if you don’t have the private key you don’t own the coins. It’s that simple with cryptocurrency.
The wallet created an account number for me: 4282004464797xxx. That is not a public address or a private key. Real decentralized wallets do not have account numbers, they have public coin addresses and private keys.
Only wallets controlled by companies like Coinbase have a user account number to identify you in their system.
This is obviously a fake wallet that is under the control of Cloud Token. There would be no need for a user account number and especially not a referral code if it were a real decentralized crypto wallet.
The Cloud Token wallet displayed a price of $0.4690 for the Cloud Token. Where did this price come from since the token is not trading on any public exchange?
The price is obviously fabricated internally by Cloud Token to give the illusion that it has value. This is very deceptive and exactly what OneCoin did with their fake wallet.
The Cloud Token does not exist on CoinMarketCap.com, which shows the Cloud Token trading symbol of CTO as belonging to someone else.
Cloud Token is on the Etherscan.io blockchain explorer at etherscan.io/token/0xadc4ad38d5a719dd2c88382e0bc69969f643ae08. But it only has a total of 2 coin addresses.
There are no Cloud Token addresses for token holders on the Ethereum blockchain. The user’s Cloud Tokens are internally managed by Cloud Token and are not on the blockchain.
The Cloud Token (CTO) is nowhere to be found on EtherDelta.com or ForkDelta.com.
When you transfer real crypto coins to your wallet you are sending them to a public address owned by Cloud Token.
You are NOT sending them to your own secured private-key account to HODL as they state, because you do not have a private key, the fundamental security of the blockchain.
Funny, they are telling their users that they are in complete control of their coins and are just HODLing their own coins, and that Cloud Token is not using their coins in any way. REALLY!
If they are not touching my BTC/ETH that I am transferring to my Cloud Token wallet, then how are they paying out all the interest and sales commissions? Without touching my crypto coins as they claim.
And how could they even do arbitrage trading with my crypto coins without touching them?
To do trading on a public exchange the crypto coins must be transferred to an internal account at the public exchange.
That is how it always works. There is no magic trading while you hold tightly to your coins.
The user interface is designed well to give the impression that it is a real crypto wallet. The only problem is, it is missing the key technology components of a real crypto wallet, namely your own public coin addresses and private keys for each coin account.
The average Joe and Jane would not know this major flaw in the Cloud Token fake wallet.
IS IT WORTH TO INVEST IN CLOUD TOKEN WALLET CLOUD 2.0?
ReplyDeleteIn this fast-paced world, who doesn’t like generating guaranteed passive income? Probably no one. Likewise, if someone comes to me and ask, “Is it worth investing in Cloud Token Wallet”, I simply reply YES, if you really love earning money without putting in time and effort. So, if you too love this idea, read on and get details of how and why is it worth investing. But before that, Let’s have a quick overview of the Cloud Token Wallet.
Overview of Cloud Token Wallet
As you may already know, Cloud Token Wallet is more than a crypto wallet. We can use it as such and have our balance in different cryptocurrencies such as Bitcoin, Litecoin, Primecoin, Namecoin, Ripple, Dogecoin, Ethereum, Dash and so many others, which have been dating in recent years.
This means that by having, for example, Bitcoins in your crypto wallet, you will be able to obtain a 10% monthly value of the amount you invest. This extra profit will be credited to the account in your CTO cryptocurrency.
Next comes the question of How; how is it worth investing in Cloud Token Wallet or Cloud 2.0? Oh, by the way, mind that the Cloud Token Wallet and Cloud 2.0 are both the same things.
Why is it Worth Investing in Cloud Token Wallet – Cloud 2.0?
We give you a list of reasons here. Please keep reading.
Cloud 2.0 offers 6 – 12 profit per month
It is a social treasure
Among all available options, Cloud 2.0 is the world’s first Crypto wallet that caters to all blockchain cryptographic resources/assets.
Cloud 2.0 is based on the most advanced 4.0 blockchain stage innovation.
Cloud Token Wallet or Cloud 2.0 offers the cross-chain encryption trade.
It also allows transactions from the well-known encryption showcase AI exchange motor for makers, internet business and different items.
Cloud Token Wallet is on its way to become the true standard token for the blockchain industry business.
The core purpose of Cloud 2.0 is to furnish individuals with an engaged social wealth age biological system.
In Cloud Token Wallet, the Crypto-to-Crypto exchanges are located between different digital currencies and rely on real-time ratio redemption.
All of Cloud Token DAPP’s digital assets, such as Bitcoin (BTC), Ethereum (ETH) and other supported digital currencies, can be seamlessly exchanged with CTOs. To a certain extent, users can trade digital assets or implement digital assets faster and easier without having to make complex pending orders through different exchange platforms.
And the list goes on and on. There are many more reasons that make investing in Cloud 2.0 worthy. Such as having the feature of being Smart. This means that Cloud 2.0 Smart Mobile Wallet can store different underlying technologies such as BTC, ETH, DOGE, XRP, LTC, EOS, etc., to achieve one-stop storage management for multiple currencies. With that, Cloud Token Wallet is simple and easy to operate. It has been tested for being secure and proved to have powerful anti-theft technology that ultimately enhances the security of digital assets.
So now, what are you waiting for? Whatever extra bugs you have in your saving accounts, invest them and keep enjoying passive income. Good Luck!
I must say I'm really impressed by the nice write-up you have here. You actually did a great job, unlike most bloggers I've seen on the internet talking about this great topic. Just by reading the first few paragraphs, I was already hooked up. Bravo and keep up the good work.
ReplyDeleteI would really appreciate it if you read this blog and leave a comment.