In this MET500 review we describe the investment scam that is powering this fake crypto staking platform.
What is MET500
MET500 is described on its official website as a cryptocurrency staking platform that allows you to earn money on your crypto tokens.
You have to deposit your crypto on the platform and then you will earn up to 2.5% daily returns. The lockup period is from 30 to 90 days.
The minimum deposit depends on the cryptocurrency. For Bitcoin, it is 0.003 BTC, for Ethereum it is 0.03 ETH, for XRP it is 80 XRP, etc.
MET500 says it is based in the United Kingdom. But is it a legitimate platform, should you trust it? No, MET500 is not legit, it’s a scam.
Met500 is not a real staking platform, it is a scam that is going to collapse, if it has not already happened by the time you are reading this review.
When you deposit your cryptocurrency on the Met500 platform, it is not staked. And it’s easy to prove.
It’s because the platform rightly defines staking as locking your tokens in the process of validating transactions on a blockchain, while it is offering this service for tokens like Bitcoin, XRP and USDT.
Bitcoin is based on proof of work, which means that transactions are validated through mining, not staking. In other words, in reality, Bitcoin can’t be staked.
The XRP Ledger does not use a proof of stake algorithm, XRP can’t be staked to earn rewards, see our Ripple XRP staking review.
USDT is always a secondary token in other blockchains like Ethereum or Tron, therefore it can’t be staked for validating transactions either.
This clearly shows that MET500 is a scam.
Another proof worth mentioning in this MET500 review is the rewards, which are promised in the range of 1 to 2.5% daily.
This is again another nonsense, because it means 30 to 75% per month, which is something that is impossible in cryptocurrency staking. Literally impossible.
Among the blockchains that MET500 is offering staking for and really are based on proof of stake, there is not one that could generate you even 20% per year.
Yet, the platform promises more than that in a single month. Which makes it obvious that it’s total fraud.
The company behind
MET500 would like you to believe that it is legitimate because the company is registered in the UK.
The problem is that a company registration means nothing, the Companies House does not verify the legitimacy of a business when registering.
In fact, we have seen countless scams with a company registration in the UK. They register, they scam people and within a year the company is dissolved. That’s how it works in these case.
How the MET500 scam works
MET500 is a quick scam. It will steal as much money as possible from people and disappear.
It can use the principles of a Ponzi scheme to pay some member in the beginning stages, which will be just to attract more investors.
But 1 – 2.5% daily returns are highly unsustainable even for a Ponzi scheme, so MET500 is sure to crash pretty quickly.
MET500 reivew – Conclusion
MET500 is a fake cryptocurrency staking platform. It is a scam that was made to steal your crypto token, you have to stay away from it.
It is impossible to earn 1% daily or more in crypto staking. Anybody saying otherwise is a scammer and you have to avoid them.