Is Sumcoin a Scam Broker?
Sumcoin is a type of cryptocurrency and is supposed to be the sum of the value of the top 100 cryptocurrencies. There are thousands of cryptocurrencies since bitcoin premiered as the first digital currency in 2008. It can be difficult to know which type of cryptocurrency to invest in or just to own, so Sumcoin is meant to solve this problem by providing one coin that would be a stand-in for the hottest ones.
Cryptocurrency is quite risky, in the best of moments. Even bitcoin, the oldest cryptocurrency, can be quite volatile and can rise and fall on a few comments by Elon Musk for instance. It is always important to do research before buying any cryptocurrency, and the same is true for Sumcoin.
Is Sumcoin a Scam or Legit?
Like all types of cryptocurrency, Sumcoin has its fans and critics. Some say that making a cryptocurrency seem like an index fund is deceptive since cryptocurrency is a completely free market and can’t be measured by an index. Others accuse Sumcoin of deceiving consumers into thinking that this digital currency is not volatile because it has the best performing cryptocurrencies, which still can be volatile.
It doesn’t seem, however, that Sumcoin makes claims that it is not volatile. However, there are some questions about its founding and the way it works. After researching Sumcoin, ReportScamOnline experts were not able to determine whether Sumcoin is a scam or legit, but many people believe it is legit.
If you need fund recovery from a forex scam, a crypto scam, or a refund from a dispute, contact ReportScamOnline experts today.