In this review of Yield Robot we explain this dangerous investment scams that pretends to be generating money in cryptocurrency trading.
What is Yield Robot
Yield Robot is a decentralized financial platform that trades various crypto assets to generate profits. The robot runs on a smart contracts and supposedly generates 2% daily returns on investment.
Yield Robot trades fungible and non-fungible tokens. All you have to do is to deposit BUSD and let the robot generate yield for you.
The platform has been created by Maneesh Agrawala and Lia Adams. It has been audited by WatchDogs. But is it legit, is it safe? No, it’s not.
Yield Robot scam
Let’s start this Yield Robot review by stating the obvious, this investment platform is a scam! It runs a fragile pyramid that is going to crumble. Let’s dive into more details.
Yield Robot tries to gain your trust by showing you an audit done by WatchDogs. There are several problems with it.
First of all, WatchDogs.cc is not a reputable smart contracts audit company. It has no name in the industry. When you look at the report they provided, it does not meet industry standards.
Second thing you should notice is that even WatchDogs reported that Yield Robot’s smart contracts had backdoors. Will you trust a company that initially placed backdoors in their code? You should not.
Last but not least, are you able to check that you are interacting with the “audited” contract when using the platform? The average user is not able to tell if everything is as presented an unchanged.
To sum this part of the review, Yield Robot’s audit is not done by a reputable company and you can’t trust it.
Yield Robot is promising 2% daily returns on your investment. With compounding that would be 137,700% in one year. Does this number look realistic to you? It should not, it’s complete nonsense.
In other words, the offered ROI often tells the whole story you need to know. 2% daily is impossible to achieve, nobody in the world is able to predict markets in such a consistent way.
You can be sure that any investment offer with 2% daily returns or higher is a scam that you should avoid. That’s the way it is.
How Yield Robot works
Let’s close this Yield Robot scam review by explaining how the project works. It’s obviously been built as a Ponzi scheme.
It means that it can be paying its users. However, it is just recirculating money. When a new member deposits, the money is divided on payouts among older members. That is all that is happening.
How will it end? Owners can pull the rug anytime, you never know what their smart contracts allows.
Or the scheme will just dry out. As deposits will inevitably slow down, there will be no money for withdrawals and Yield Robot will stall. People won’t be able to get their money back because cryptocurrency transactions are irreversible.
That is why you should stay away from it, it can collapse any time.
Yield Robot review – Conclusion
In this review we have explained that Yield Robot’s audit is not worth anything, it is not trustworthy, it gives no credibility to the project. If anything, it shows that the smart contract had backdoors.
And the absurd daily ROI offered by this investment platform is the best proof that it is all a Ponzi scam that is going to crash and people will lose money. Stay away from it.