Cryptolux, also known as CLX is an online payments network which has been designed to facilitate payments between two parties without involving third parties such as banks. Every member of Cryptolux have their own wallet via which payments are sent and received. The people who have founded Cryptolux claim that the transaction fees are low and the entire process of sending and receiving payment is extremely easy.

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The idea of having advanced technology when it comes to making payments online is convenient for everyone. But is Cryptolux the real deal?

Our investigation suggests that Cryptolux may be a High Yield Investment Program or a Ponzi scheme that may close down very soon. If you have been thinking about the legitimacy of this company, we urge you to read our review and find the truth about it.

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What is Cryptolux?

The Cryptolux payment system has been designed for investors who are looking for a secure and easy way of trading online. Their network uses decentralized ledger which is independent of any intermediaries. Moreover, it is alleged that transactions can be made in an anonymous manner. While everyone can see what transactions have been made, no one except the parties involved can see who made the transaction.

This technology actually applies to many cryptocurrencies including the very popular Bitcoin. It is certainly not a new technology and there is no way it has revolutionized the online investment field because it has been used since the inception of Bitcoin.

Furthermore, the number of Cryptolux coins they claim to offer is 42 million. They say that the reason for this is to ensure long term stability of the users of this cryptocurrency. But, what is the use of having a virtual coin that doesn’t have any value. With over 1700 crypto assets already available on the market and most of them crashing on a daily basis, we highly doubt CLX is going to stand up for long.


How Does Cryptolux Work?

The company operating behind Cryptolux claims to be offering a wide range of integrated features that can help investors amplify their gains. According to them investors can earn by trading CLX, earn up to 45% return from their investments on a daily basis, earn by staking their coins, earn daily interest on storage and use their gaming portal to round up their gains. Additionally, they offer an affiliate program where investors can refer others and earn commissions based on the deposits made by the referrals.

Giving investors a variety of means to generate returns from their investments sounds appealing, but the actual mode of operation of Cryptolux is not what they have stated on their website.

Cryptolux is on their ICO stage meaning that now they are only giving investors the chance to buy the coin. There is no guarantee that they will actually get launched. If investors don’t get the opportunity to sell their coins, they will not be able to generate any returns on their investments.

Sadly, many such companies closed after the ICO and ran away with the funds that were invested in the coins. Cryptolux may just do the same.

Good to Know:

The cryptocurrency markets are volatile and this is the reason most altcoins don’t make it long term. Investors have lost considerable amounts in crypto assets that crashed to zero immediately after their ICO. This is why experts suggest that investors should not get into a market they don’t understand.

Cryptolux: Scam Investigation

Usually, every website whether its offering a service or not has an About Us section. In this section, details about the company, its owners and where it is based can be found. But Cryptolux doesn’t offer such information. We have not been able to find any details about who owns Cryptolux and where they are physically located.

This project was initiated to create its own cryptocurrency and make the payment process easier and cheaper through the internet. This service is in great demand across the world, but there are more than 1700 cryptocurrencies currently available which are trying to solve the problem of cross-border payments, especially where banking facilities are not available. We don’t see any reason why they say that CLX is the cheapest and safest cryptocurrency. When Bitcoin exchanges can be hacked, then it is not possible that CLX is immune to hacking.

Furthermore, the technology they claim to be using is already being used by Bitcoin and a number of other altcoins. But they haven’t provided any explanation on how they are planning to maintain the price of the coins and why people should choose their coin instead of hundreds of the others which are already proven to be legit and safe.

Their entire program is reminiscent of a Ponzi scheme. Such schemes don’t last long and they usually close down when they have collected enough funds from traders or when they are not capable of paying interest on investments.

Last Words

These days, it is easy to fool those who are not paying attention. Scammers are rapidly increasing in the online trading field simply because someone or the other ends up entrusting them with their hard earned funds. But if they are careful and analyse every scheme or investment program that comes their way, they will be able to protect themselves from becoming a victim to an online scam.

Cryptolux looks like the real deal on the surface, but deep within it is just a HYIP that is designed to steal from its members. Investing with CLX is extremely risky because neither the business is regulated, nor the tokens are in demand. Investors will be wasting their funds by investing in CLX and this is the reason we urge everyone to stay away from this scheme.



I am David Raines, a Forex trader with years of experience in online trading. I write reviews of Forex Brokers, Auto Trading Software and Signals Providers.

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