PointPay – A Crypto Pyramid Scheme and Fake Reviews 2023
The PointPay platform was launched in 2018. This is a kind of cryptosystem, which includes not only a wallet, but also an exchange, and even a bank.
Reviews about PointPay are ambiguous, and a lot of them are negative. That is why we decided to figure out what is wrong with the company.
Is there something they are trying to hide?
And according to tradition, at the end of the review, we will answer the question, of how to withdraw money from PointPay. Also, how to withdraw if it does not work out “in a good way”?
PointPay Official Website – Features and Highlights
So, what does this cryptosystem offer to customers?
The system will allow you to open savings and settlement accounts in BTC, ETH, and PXP. Interest is charged daily. It is possible to take a loan.
You can buy crypto directly, track the course online, and conduct technical analysis. The exchange supports ERC-20 tokens.
There is no need to explain here, everyone knows how to use it.
The fourth direction of PointPay is a payment system.
At the moment, it is in development.
It is assumed that it will mainly be used by sites that accept payment for goods in cryptocurrency.
Everything seems to be rosy.
How promising is this outside of the official PointPay website? Experience shows that such projects eventually burst like soap bubbles.
After all, the entire system is based solely on the internal token. And it, as you know, is in the hands of the developers of the project. And its value is controlled only by them.
PointPay Registration Information: Are They Registered?
The site belongs to the company Point Pay LLC, which in the past, in 2020, was registered in the UK – 71-75 Shelton Street, London, England, WC2H 9JQ.
This is confirmed by older PointPay reviews. Today, the legal address has magically changed – First St. Vincent Bank Ltd Building, P. O Box 1574, James Street, Kingstown, Saint Vincent, and the Grenadines.
And we all know perfectly well that Saint Vincent and the Grenadines is an offshore zone. “Swinging” your rights in this case is quite problematic.
At the above address, Google cards are not found by PointPay, but by a local bank, which has a completely different name.
In addition, if we drive the data into the search, we found that several more brokerage offices use this address as a legal one. Coincidence? We don’t think so…
Does PointPay have a license?
But the change of address is not the most important fact. What’s more important is the absence of any documents, both for brokerage and banking activities. There’s not even a mention of the license on the PointPay website.
If you look in the “Contacts” section, you can see that the client can contact the support on the feedback form or via email. There is not a single phone number, which is strange enough for a large, self-respecting company.
Also, we saw the address for postal items and the registration number. There, we found that PointPay is also registered in Estonia. But again, there is no confirmation of this information.
Since 2017, the Financial Terrorism and Anti-Money Laundering Act has been in force in Estonia, which states that any company providing virtual wallet and cryptocurrency exchange services is obliged to obtain permission from the Police Board in the Estonian Border Guard.
Naturally, PointPay does not have any of the necessary documents. And registration in offshore companies automatically prohibits the company from providing services in the Russian Federation.
Can You Trust the Positive PointPay Reviews?
The company has been pushing itself quite aggressively online since 2019. There are a lot of positive reviews and testimonials.
At the time of writing this review, we found 22 comments from alleged customers. And they’re all lauding the company! Something seems fishy, don’t you think?
How Does PointPay Lure New Customers?
PointPay relies on its referral (affiliate) program. Existing customers praise the company, persuading other people to join its ranks. And they get a percentage for it.
Perhaps some of the “trailblazers” even received payments from Point Pay and still do. But this in no way makes the system honest and reliable.
The principle of operation of this firm is too reminiscent of a financial pyramid. And what happens to these kinds of systems? Sooner or later they collapse. And everyone who was at the bottom of the pyramid is left with nothing except huge debts.
Also, PointPay employees, judging by the reviews, use “cold” calling to attract new customers.
Intrusive calls at any time of the day with persuasion to invest in a profitable project are not uncommon for such companies.
Real PointPay Reviews – What Do They Say?
The token of the exchange constantly falls in price, there are no guarantees, they work on the principle of a financial pyramid, and they refuse to process a withdrawal- this is what real PointPay customers write in their reviews.
There are also frequent cases of blocking accounts.
And the incompetence of technical support.
How do I withdraw money from PointPay?
The most effective way is the chargeback procedure – reporting the payment. But it is suitable only for those who added funds to their account with bank cards Visa, MasterCard, or MIR.
What do I need for a chargeback from PointPay?
- Transfers were made from the above-mentioned cards.
- Another 18 months have not passed since the payments.
- The money was credited to the account of a legal entity.
With such data, a good lawyer will easily protest payments and you will be able to get at least some of your investments.
It’s harder if the money was transferred through other methods. Chargeback doesn’t work but doesn’t despair. You need to try to get the money from PointPay through the court. To do this, you need to file a lawsuit against the person/people to whom you sent the funds, marked unjust enrichment.
A person who, without grounds established by law, other legal acts, or a transaction, has acquired or saved property (acquirer) at the expense of another person (victim) is obliged to return to the latter unjustifiably acquired or saved property (unjust enrichment), except for the cases provided for in Article 1109 of this Code.
PointPay is a pyramid scheme, which is highly expensive to associate with. The company positions itself as a major tycoon in the financial market but does not have a single permit necessary for such work. Be careful!
PointPay is a pyramid scheme posing as a “crypto system”. It doesn’t have any legal permits to operate as a financial services provider and makes many boastful claims. All the evidence suggests that PointPay is a pyramid scheme. Hence, avoid.
- Pyramid scheme
j’ai acheté 300$ de PXP et j’ai mis en staking sur se site.
quand le staking a fini j’ai voulu retirer mes cryptos, mais la c’est impossible de les retirer même après avoir fait les 3 niveaux de KYC.
j’ai envoyer plusieurs messages au service client (temps de réponse moins de 10 min.) et a chaque fois ils se excuse et disse que le service technique recherche le problème.
ca fais 3 mois que je attend une résolution.
Could never withdraw, 5k down the tubes.
Stole £10k from me waiting months for the pending withdrawal which they just cancel over and over. Contacted their CEO Artemis via social media and his response was to block be from their social media. No reply at all.
My experience with point pay is the same as this review shows. They got my $2000 but I am still waiting for my refund. I message them every week for my money but get no response.
I read about the company at another website where I found most of the reviews to be positive which made me install the Pointpay app for investing in crypto, using their platform.
But I was wrong to invest my money into this company, they didn’t even respond to my messages about delaying my refunds. I think they are posting fake reviews on purpose to gain more victims.
I invested in point pay to check whether they are trustworthy or not but these bastards got my $500 with them. Never invest in pointpay unless you are ready to lose your entire investment.
I have invested in Pointpay pxp. Did I just waste my money?
I really don’t like my prospects after seeing all of these reviews. Why didn’t I find this review before??
I got approached by my friend, he sent me a link to join pointpay. It looked like a chain system where you are asked to connect more customers, though this will provide some percentage to the person who connects new users. Definitely a pyramid scheme. I bet those fake 5 star reviews are from those promoters too.
SCAMMERS! They are not ashamed of stealing your money even after registering your complaint. Never allow these companies to let you scam with ease.
This company got my $ 000 and has not made any refunds for months. After reading the article I found that there are many more who got scammed.
I didn’t expect that when I requested pointpay to transfer my funds totaling $20,000 they wouldn’t respond. They really didn’t respond. It seemed like they weren’t getting time to transfer the funds. I tried to reach out to their regional office which came out to be fake as well. I am still trying to get my money back.
Pointpay claims that the company is made for crypto trading but the primary purpose of these guys is to gain new users, in short, it is just a Pyramid scheme. Adding new customers and then scamming them is their real business.
I don’t understand why government officials are not taking any action against these companies. They are scamming people at full speed without any fear from the legal authorities. They had got many users being scammed by the company which shows the cruelty level of pointpay.io and this is the responsibility of the regulators to make sure such companies are under surveillance.
My experience was the same as written in the article. I got my money invested in the company buying some crypto but they started behaving strangely as if they were not in the mood to return my money. After sending some complaints about the problem. I got answers from the company but most of them looked like bot replies. At this moment I knew I F##ked UP.
I also invested in pointpay with only $500 to check whether the company will provide any returns on my investment and the same happened to me like the rest of you. They haven’t responded to my withdrawal request, this proved that this platform isn’t made for investing your hard-earned money.
Guys make sure you never fall for the attractive schemes of the company, like pointpay pxp, because it is just a strategy of pointpay to attract as many investors as possible. They make their schemes look lucrative to investors so that they could get the opportunity to scam as many people as they can.
Even one of my friends is suffering and still trying to get back his money from pointpay. I respect the writer of this article for unmasking this fraudster and putting the truth in front of everyone.
I would take a risk of starting a business of my own rather than invest in PointPay, especially after learning the truth about these companies.
My experience with point pay is the same as this review shows. They got my $2000 but I am still waiting for my refund. I message them every week for my money but get no response.
I will never advise anyone to invest in PointPay as it is not at all safe, I had lost my $ 10,000 which has not been recovered till now. I was also fascinated with the return policies of the bank and the easy trading with different cryptocurrencies available at a single stage, but in the end, got betrayed.
I recently invested in point Pay but after reading this article it is horrifying to me. I have invested my savings into this platform, but I recently withdrew $1000 from them. Though I will make it a priority to request for all my funds to be transferred to my bank as soon as possible. Thanks for this information.
I had signed up in June and invested $250. All of my money is gone. Point pay didn’t even bother to help me.
Never invest your money with point pay, unless you want to get scammed then there is no problem.It was really hard for me to cope with the situation of losing my money. Go to hell PointPay.
The company’s behavior towards the customers is very selfish and shady. The investors invested in pointpay pxp with a mindset of earning money but what they get is a scam. I think it is the government’s responsibility to make sure that companies like pointpay pxp remain under control.
I’m sorry you lost your money with this scam. Sadly there is nothing we can do. I also lost 1000 EUR with this company a few months ago. I tried to get it back but there was no way. Pointpay is a horrible company which doesn’t care about its customers. No one cares, however. They are all investing in PXP thinking they will be able to make money off this scam. They have no idea they are going to make a big mistake.
The company is not at all trustworthy due to its shady image. After investing my money I was treated like an asset where I only invested money to give profit to the company. Still waiting for my funds, from the company.
I am 100% sure they have posted fake reviews on their profiles. There is no way this scam has so many positive reviews otherwise.
I wouldn’t trust these people with my money.
The government is not taking any strict actions against these companies as they are smart, scamming victims by using digital platforms. It is very important for the government to keep an eye on these companies because they are looting a ton of investors.
Invested a whole year’s worth of savings with Pointpay pxp but the returns I am getting are not what they promised to return. The company was offering crypto exchange with different currencies which made me invest in the company. After suffering a loss of $20,000 I will never recommend Pointpay to any of the investors. Stay away!
I had invested only $500 to check the trust level of the company but the company has gone so cheap that they aren’t responding to my $500 investment. Such a scammer shows that the company has entered the market with the sole goal defrauding investors.
Rigged platform stole $200 from me. Tried to complain to the customer service and they all ignored me, making all kinds of excuses.
I would never recommend anyone to invest in pointpay pxp as this company is only there to scam people. Allowing investing in crypto using their platform is just a trap, once you get your money invested the company will stop sending your funds, or will they take a long period to get your money from them?
I will never ask investors, especially high schoolers who try to become millionaires in weeks and find themselves to get stuck with some company like PointPay because at the end of the day, they end up getting scammed and make you lose your money too.
I liked the interface…but they haven’t processed my withdrawal yet 😢
I am experiencing the same problem. They took $200 from me and refused to do anything about it. Idk what to do now.
I lost £200 because of this broker. Only sign up at Point pay if you like losing your money for no reason.
I was skeptical at first. So, I didn’t invest a lot with pointpay. I had no idea it would turn out like this. As we all know point pay claims to let you buy and sell different cryptocurrencies on a single platform. You can trade there but don’t expect to get your money back.
Do not sign up on PointPay!
They are a SCAM.
I made the mistake of signing up there and I’m regretting it. They have kept my deposit and are not lettign me withdraw. What kind of horrible company operates like this??
I bet all of these 5 star reviews are from PointPay shills. Nobody can praise this company unless they are getting paid for it.
In Crypto, you have the worst and the best in there. Like there is some seriously definite value in the Bitcoin and Ethereum communities but then on the other side there are the scams, especially the ones claiming to be Defi. You got to double-check the projects and see what the community thinks of a project as a whole. Like, I was very confident in pointpay initially but nah, not anymore.
They are not processing any withdrawal request.
I have been trying to get my money back from Pointpay for weeks. They wrongfully charged me. When I complained…they didn’t respond. I only received automated replies like they were reading a script.
They have hidden fees they don’t tell you about when you sign up. I don’t recommend these guys at all.
PointPay took my money last year and refused to give it to me. When I asked them when I will get my money they did not respond. I only received bot replies. It was infuriating. PointPay is a scam.
I hate these sketchy crypto exchanges. First off you are already charging a hefty fee and I don’t mind that. But when these companies start lying and doing horrible stuff, they cross a line. Finding a good crypto exchange shouldn’t be so difficult but companies like Pointpay have made it a herculean task. They rope you in with fake promises and deceit and when you have invested enough, they don’t let you access your funds. I hate companies like this and they should be punished.
I would request everyone not to get their money stuck with PointPay, in other words, don’t try the platform as you will be scammed for sure. After getting through the review I confirm all the facts to be real. My incident was really bad. I invested my money into Point Pay with the intent of getting heavy returns, but in the end, I have been struggling to withdraw my money. I complained to the associates of Pointpay but instead of them, I got replies from some automated bots or something.
Don’t trust these guys with your money. NEVER.
Pointpay doesn’t process withdrawals easily. They make you deposit by using their offers and discounts. And when they get your money they start acting like a hungry dog who just got a piece of bread. No matter how much you complain, they don’t care. They keep your money and let you complain.
I had never experienced such horrible customer service before.
There are just so many shills out there all of whom want you to use their link when you sign up. Because of those guys, you can’t trust any of the Pointpay reviews you see online. These shills make this terrible, wicked crypto exchange sound like a Michelangelo’s creation.
Signing up on PointPay was the biggest mistake I have ever made. The only people who say good things about this company are the ones who are getting paid by them. This is the worst crypto exchange in the market. They are scummy and unethical. I don’t recommend signing up here at all.
I didn’t read any pointpay reviews and paid the price. These guys don’t let you get your hands on the money. They are heartless scammers. Vicious, greedy, selfish… I don’t know how else to describe these terrible fraudsters.
I have been trying to get a withdrawal for WEEKS and I haven’t got anything so far. They don’t respond to my messages and ignore me all the time. Never going back there EVER!
Horrible platform and the worst customer service.
Yes I think the same. They are not responding to my messages either. PointPay is a crypto scam, nothing more. I should have looked up their reviews before signing up.
I have used Point pay for a few months. All I can say about this project is it’s a greedy and selfish brainchild of someone who wanted to scam crypto enthusiasts.
Definitely not recommended 👎👎👎
The company has the only intention to scam people for money. I lost my $2000, after this I tried to communicate with the company but they didn’t respond. They are so rude that even if they read your message they will not react to it. This shows the company’s professionalism. The worst customer service I have ever seen!
Pointpay is a vicious pyramid scheme. Nothing more. All the positive reviews you see for them online are from the various affiliates of this crypto platform. Normal people are only losing money there.
Pointpay is unregistered. Period. I don’t why people don’t get it. 99% of unregistered brokers are scams. And the remaining 1% is abusive. Without the restrictions of a regulatory authority, these scammers can charge you whatever they want and loot you. Don’t trust Pointpay!
Some people don’t want to believe the truth. They want a get rich quick scheme or a shortcut to wealth and end up getting scammed by frauds like PointPay. It is rather sad but there is nothing you can do about it. Just look at the people defending this company like it’s a messiah of some sort. I feel sorry for them anyway. It’s their loss.
Hey! Why are you so toxic? It’s a trustworthy exchange with their native PXP token. It has never been hacked. I’ve been using the exchange since last year, and it’s perfect. I pinged the support a few times to make my withdrawal quicker. If you don’t trust them or have any questions, they have a good Telegram channel. Their owner Vlad conducts AMA on YouTube. PointPay is generally a good trading platform I think
Nobody is being toxic here Mr. Soros. I just think everyone is entitled to their opinions. If the article is toxic then I can call you delusional too. I agree wholeheartedly with this piece. There are many people like me who have been ripped off by this platform. We are just a little more vigilante than some others and don’t want to keep getting ripped off repeatedly. Just look at Celsius. Look at how many people it has scammed. People have become more cautious and PointPay has all the signs of being another fraud.
I’m happy the platform worked for you but for me it was a nightmare. They took a lot of $$$ from me. I don’t know who handled your case but when I contacted the customer support, they just ignored me. Not recommended at all.
Another unlicensed scam trying to loot crypto bros?
What do these scammers think huh? I’m more bothered by those who are still falling prey to scams like PointPay and Save the Kids.
I wanted to investigate whether this company is legit or not. Is the company not even regulated? How can they operate like that? Isn’t that illegal?
After the Bitcoin crash it may take some time for it to rise again and the best investment one can do right now is to invest in Forex trading. All cryptocurrencies are good but ever since I swap two Forex trading I have seen a big difference.
A scam! PointPay is a scam! Don’t trust those people. I have already a lot of $$$ there thanks to their rubbish coin. All the 5 star reviews you see on PointPay are written by their shills. I’m not the only one who lost money there either. My friend who recommended this trashy platform lost a lot of $$$ too.
This company is a total fraud, you will not be able to make any withdrawal from the company, because they never respond to the request for any money withdrawal. Investing in pointpay is nothing but a total loss.
After getting scammed by point pay I must make sure to spread the news as much as possible that this company, Point Pay, is a scam because they add new users through its pyramid scheme. It is merely a fraudster claiming to provide financial services without having legal permits.
This is a good project. The person that wrote this is giving a false review.