Financial Disclaimer: no part of this review should be interpreted as financial advice. The content is for informational purposes only. Opinion Disclaimer: the content in this review is ultimately a reflection of my own opinions and is not intended to malign any religion, ethnic group, club, organization, company, individual, anyone, or anything.
|Real owner:||Crystal M Lamkins (?)|
|Type:||Managed investment service|
|Price:||$100 – $500,000+|
|Rating:||2.2 / 5|
|Recommended?||No – (scam warning signs)|
|How to join?||Via their website|
I was introduced to SpaceTech Profits by a friend.
He said that he’d invested some money and his returns were exactly as described.
Intrigued, I decided to join up and take a look around.
And to be honest – I didn’t like what I saw.
This SpaceTech Profits review reveals why I won’t be investing and why you might want to think twice before risking your cash.
Image source: spacetechprofits.com
What is SpaceTech Profits?
SpaceTech Profits claims to offer Bitcoin investment, trading, and escrow services.
In order to get started with SpaceTech Profits, you have to sign up through a registered member’s affiliate link.
You then have to purchase a contract.
And according to SpaceTech Profits, your investment will then be ‘split into two’ – with half being put towards ‘trading’ and the other half towards ‘mining’.
Your profits are supposedly generated on a daily basis and can be withdrawn weekly.
What Are The Contracts?
At the time of writing, the plans are as follows:
- Plan 1: $100 – $4,999 – 3.75% ROI per week (4 year contract).
- Plan 2: $5,000 – $49,999 – 5% ROI per week (4 year contract).
- Plan 3: $50,000 – $499,999 – 7.5% ROI per week (4 year contract).
- Plan 4: +$500,000 – 10% ROI per week (4 year contract).
Who’s Behind SpaceTech Profits?
I don’t know for sure.
The About page claims that Alessandro Pappas is the CEO of SpaceTech Profits.
However, SpaceTech Development LLC is the company name cited in the footer of the SpaceTech website.
According to this resource – the registered agent name for this company is Crystal M Lamkins.
With the associated company address being: 314 Lawrence Street, Rome, NY 13440.
I did a search on this address and according to this resource – here’s what that property looks like:
Image credit: realtor.com/realestateandhomes-detail/314-Lawrence-St_Rome_NY_13440_M30982-15421
Can You Make Money With SpaceTech Profits?
It seems possible.
Because my friend reported that he was paid out in line with the plan that he’d subscribed to.
However, just because a program is paying out doesn’t automatically mean that it’s legit.
Because many fraudulent schemes will do this to act as a confidence trick – to encourage existing members to pile larger sums of money into the program and entice new members to join up too.
I’ll explain more about how funds can be shuffled around in just a moment.
Can You Lose Money With SpaceTech Profits?
If SpaceTech Profits works in the way that I suspect it does then yes – it’s my opinion that you could lose all of the money that you invest.
My justification is provided below.
Is SpaceTech Profits a Scam or Legit?
Based on the facts?
I CAN’T say with absolute certainty that SpaceTech Profits is a scam.
But I’ve reviewed a LOT of these sorts of managed investment schemes before and it’s my personal opinion that SpaceTech Profits exhibits several red flags that are common to similar scams that I’ve previously exposed.
And that’s what I’d like to discuss now.
SpaceTech Profits – The Red Flags
Here are the exact reasons why I think SpaceTech Profits MIGHT not be legit.
And in the worst case scenario?
This could potentially be a multi-layered scam.
Because it exhibits qualities that I’ve seen before in relation to Ponzi operations, pyramid schemes, HYIPs (‘high yield investment programs’), and data harvesting scams.
1: SpaceTech Controls Your Funds (Ponzi Flag)
The main problem here is that you’re not in control of your own funds.
Because instead of having the added protection of being able to use a reputable, licenced broker – you’re just sending money to the owners of SpaceTech Profits.
This could potentially allow them to act as a Ponzi scheme.
Where money is taken from new members to pay the ROI on funds deposited by existing members.
This ‘shuffling of funds’ is done to make the scheme appear legitimate and trick people into depositing more and more money.
Skilled Ponzi operators can keep a scheme going for years – the most famous case being that of the Madoff investment scandal.
And investors are often shocked when the company disappears with everyone’s money.
2: Paid to Recruit (Pyramid Scheme Flag)
The only way to join SpaceTech Profits is through a referral link provided by an existing member.
And this results in the formation of ‘downlines’ – where you’re able to take a percentage of the ‘profits’ generated by your referrals and their referrals too.
This means that money is constantly being ‘rolled up’ to those who joined earlier on in the scheme.
This is a recruitment tactic used by legit MLM (‘multi-level marketing’) companies.
However, there are no tangible products associated with SpaceTech.
This means that it more closely fits the definition of an illegal pyramid scheme.
Where members make money purely by recruiting others.
The only saving grace would be if SpaceTech are actually making money from legitimate Bitcoin investments.
But if they’re instead operating as a Ponzi scheme – then the recruitment scheme becomes illegal too.
Because it means that members are being paid to recruit – with money ultimately coming out of the pockets of other investors to uphold the facade of the whole thing being a legitimate managed investment service.
Image: screenshot of the SpaceTech Profits recruitment plan.
3: Unrealistic ROIs (HYIP Flag)
Take a look at the ROIs associated with the various investment plans.
And whilst a weekly ROI of 3.75% might not seem like much – it is over the long term.
And the weekly 10% ROI on the $500,000 plan is completely unrealistic.
Such inflated claims are typical of HYIP Ponzi schemes – designed to encourage people to dump higher quantities of funds into the scheme.
Hence why it’s quite common to see payouts on the lower plans to build confidence.
4: You Have to Send Your Docs First (Data Harvesting Flag)
It looks like you have to submit copies of your ID and proof of address before you can deposit with SpaceTech.
This could be quite innocent.
But over the years, I have reviewed so many innocuous looking websites that have turned out to be malicious data harvesting scams.
So, I would be very reluctant to send copies of my ID to an entity that may not be legit.
Conclusion: Serious Caution Advised
To be fair to SpaceTech Profits?
Everything that I have said in this review is based on my prior experience of exposing known scams that exhibited the same ‘red flags’.
As such, I have no actual proof that SpaceTech Profits is a scam without question.
So, it could be that SpaceTech is actually legit and not a scam.
But for me?
There are too many potential risks for me to feel comfortable getting involved with SpaceTech Profits.
Either way, I hope that my opinions have helped you reach a more balanced decision to invest or not.
- Reports of people getting paid.
- Exhibits potential warning signs of multiple scams (Ponzi, pyramid, HYIP, data harvesting).
What’s Your Experience With SpaceTech Profits?
Do you think they are legit?
Have you been paid?
Good or bad – let me know of your thoughts and experiences with SpaceTech Profits in the comments section below.
What’s The Alternative?
Due to the risks involved – I don’t have a managed investment scheme that I’d feel happy recommending at the moment.
Instead, I’d recommend checking out Capitalist Exploits.
They are an investment opportunity service that provide information that could help you make more informed investment decisions.
And you’re in control of your OWN funds – so there are no Ponzi or pyramid scheme worries.
Click the button below to learn more.