File a Complaint against Sumcoin
Is Sumcoin a Scam Broker?
Sumcoin is a cryptocurrency which as of October 2021 is around $150. The idea behind the coin is that its value is the sum of the top 100 cryptocurrencies. There is an attitude of suspicion about cryptocurrencies in many circles and according to Investopedia, 80% of all ICOs are scams. In some cases, it is easy to determine whether a cryptocoin is a scam, but in some cases, more investigation is required. This is the case with Sumcoin
Is Sumcoin a Scam or Legit Broker?
Sumcoin has fans and detractors. The idea that one coin could be the sum of the top 100 cryptocurrencies gives the impression that Sumcoin is to cryptocurrencies what ETFs are to stocks. Critics believe the whole premise is fraudulent and say to Sumcoin’s claim as the first index-based cryptocurrency that cryptocurrency is a completely free market and can’t be measured as an index.
ChargeBax experts have examined Sumcoin and at this point can’t conclude absolutely whether it is a scam or legit. It is important to research cryptocurrency services thoroughly and do due diligence before buying or trading them. Many of them are fraudulent, but there are also many lucrative opportunities in the cryptocurrency space. However, they are high-risk assets and we urge caution.
If you need assistance finding a reliable broker or require fund recovery from a scam broker, consult with our professionals right away.