Is Sumcoin a Scam?
Sumcoin represents itself as the best of the batch when it comes to cryptocurrency. Sumcoin is a so-called “index” coin whose value is the sum of the top 100 cryptocurrencies. Since Bitcoin came onto the scene in 2008, thousands of cryptocurrencies have hit the market. It can be confusing which coins to buy or invest in. Sumcoin seems to an easier to choose a coin by giving exposure to the best-performing coins.
Is Sumcoin a Scam or Legit?
There are critics and fans of Sumcoin. The critics claim that Sumcoin is a scam because cryptocurrency is a completely free market and the concept of an “index” does not make sense. They say Sumcoin creators claim to do what can’t be done. For instance, there can be stock indices because stocks are a regulated market. Sumcoin, according to critics, gives the impression it is stable when in fact cryptocurrencies are extremely volatile and the top ten currencies change position frequently.
However, the question arises is Sumcoin simply risky, or is it fraudulent? After examining Sumcoin, Broker Complaint Registry experts could not conclude that it was definitely a scam. However, we urge caution to those who want to buy Sumcoin or any other cryptocurrency, since these are risky assets.
Broker Complaint Registry is here to help if you need assistance retrieving your money from a crypto scam or a broker dispute, contact our experts today.
