Staked Wallet, scam or legit?
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Staked Wallet, scam or legit?

By Pappura | Invest With Crypto | 20 Apr 2020


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Hi everyone, I'm writing this because some days ago I've funded a link of this wallet and immediately think that that was impossible, but hey, that was for sure the max, so why not to try to download the app and see how it works for real.

When I read how that earn works I've continued to think that was a scam, because yes, 1,5% is the max, but it starts from 0,6% daily with a minimum 'deposit' (whit the funds blocked for a month at least) of 0.002 BTC (it can be done in ETH, DODGE, and others, in the white paper they tell from 10€) and every month the percentage increase of 0,1% if you continue the deposit, and it can be done for 10 months maximum reaching the 1,5% during last month. It starts to sound different, but not at all, better was the fact that you can still normal deposit your coins sending them to your staked wallet account and even not 'depositing' them you still earn 0,2% daily (and to this we have to add the eventual income generated by the referrals too, that are good but paid in SWL the token of the platform), and that's pretty good anyway, so I go to read the white paper for seeing how and if, they tell in that way is it possible to sustain this.

 

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This is an extract of how they think to sustain it, they want to operate on the market like a normal exchange, wallet, etc. like Coinbase or Binance, but that use the income derivate by the exchanging fees, masternode rental and proof of stake, in other words, each proceeds that a company does from the assets of other people, is also used for reward them with a part of the income that they've generated. That way sounds possible, but maybe too beautiful for being real, well and the graphic style of the app and site looks beautiful too, like if it is too much for a scam too.

So there's only a thing that I could do, test it and find the problem, in the worst case I can lose like 10€, but I would learn something from that, and if it is not good or a scam I can advice other, and they can save them money for better things. I've initially tried to put the minimum at the 'deposit' and think to just waiting and see after a month, but...it takes a month. So some days after, during some searches to discover something new about that and its legit, I've found that the company is correctly signed up at the 'Australian Securities and Investment Commission' (ASIC)

 

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and that was another point for them, so I think to put some more sats to the test for trying the withdrawal in general and the first income of the deposit too, doing that I also wait to receive the payment for the normal deposit before the total withdraw.

Everything goes well when I confirmed the withdraw a link to the transaction on a blockchain scanner appear, and after 3 confirms (because of Coinbase rules) it arrives on my account.

 

Those are the transactions:

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*different timezone between Coinbase and StakedWallet account

 

Yes, at the end I've decided to reput the money and give it a chance, and that way I can even see if when the first 'deposit' finish they give me back all the money or only the first ones, and then maybe test if can be done with different month percentages too.

But if you think that I'm sure about the reliability of this company and of the system too, you're wrong.

That's why I will add a bounty here, anyone know something more or have some other relevant experience for this site/app?

I will continue to do some searches and learn something more about that, but if someone knew something more we can do a better job for the community, preventing the scam or analyzing an offering an early opportunity!

This was the link and my ref too if you want to try it and also support my work for reviewing and analyzing the platform. Thank you!

https://stakedwallet.biz?f=425156


Pappura
Pappura

Hi! I'm a media engineering student and I love to discover new things, learn how do they work, why that way, and most importantly, why they exist. Anything happen for nothing, everything could happen.


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