Mixed Finance claims to provide a fixed APY on subscribing to their plans and depositing money. Well, at least that’s what they claim to do. Though, the question here is, how do they generate these returns? And how safe are your funds at the platform?
The platform turns out to be based on the following principles:
- Develop clear and acceptable investment objectives (using your funds and investing somewhere you wounldn’t know of).
- Use broadly diversified funds to create a reasonable asset allocation (what if the project they invest in is rugged).
The platform claims to be a self-contained decentralised platform, indicating that it should be able to provide financial instruments without using middlemen like brokerages, exchanges, or banks making use of blockchain-based smart contracts. Instead, it requests that the user register and sign up for updates through email and mobile number.
The website displays several plans for a specified set of days, such as 3-4, and asks the interested user to deposit a specific amount of money to receive returns. I think the first rule of crypto is never send crypto to someone on the internet.
Payments made with cryptocurrency are seldom reversed. Once you’ve made a cryptocurrency payment, the only way to receive your money back is if the person you paid pays it back to you.
Scammers promise funds with a high probability of success. However, nobody can promise a specific return, unless they trade, lend, stake, or work out with any other financial product, which might eventually put your funds at risk. By requiring users to deposit cash and take advantage of the return schemes, the platform hints that users must connect their Metamask wallets to transact.
According to the website, the platform has official sponsored partners with Coinbase, WazirX, and OKEx, but proper documentation is missing, making this impossible to establish. Further, the platform only displays logos of these platforms and no further information is provided.
When a corporation plans to create a new cryptocurrency, it usually publishes a Whitepaper that lays out all the specifics. This document explains the project’s technical, financial, and commercial aspects.
You do not even need to be a crypto expert to understand the following fishy detail. Anyone can figure out if noticed closely enough. The “ABOUT US” section of the website has attached a file copy of a document termed “certificate of incorporation of a private limited company”. The JPEG attachment looks blurred out with low definition pixels. As you come to think of it, how do other details get a bold-clear high-resolution pixel and something as crucial as incorporation is left presented with a low-resolution image?
Although the site claims to be the simplest way to stake cryptocurrency, there is little information on how the platform will go about the process and stake your assets.
Staking cryptocurrency is the process of committing your crypto assets to a blockchain network to support it and confirm transactions. Unfortunately, there is no way to tell if a user’s money is safe, at least, if not yielding high returns. So how can one be sure of the platform’s legitimacy and credibility?
The platform also claims that withdrawals will be delayed until users upgrade their plan, to provide more liquidity for staking.
Nothing in this article is financial advice, and all the facts stated are the writers sole beliefs. If you disagree, please shoot us a mail with proper documentation and we’ll fix things up.