Investment in Bitcoin

Rebel500

Hi everyone,  I am new to all this , I invested £250 with cryptoportfolio, back in June, my account is sitting at £1296 but hasn't traded since middle of August,  I have had problems getting intouch with my broker  ,when I do he says I have to invest more into it to be able to trade more. Alarm bells start ringing in my head, if I want to close the account I have to match the amount in the account and transfer from my bank to Binance, before I can withdraw apparently this will only take 30 minutes , I haven't because I am very wary, can anyone help me ?

fourmarks

Did you invest as the result of an email you received?

HappyHarry

Rebel500 said:

Hi everyone,  I am new to all this , I invested £250 with cryptoportfolio, back in June, my account is sitting at £1296 but hasn't traded since middle of August,  I have had problems getting intouch with my broker  ,when I do he says I have to invest more into it to be able to trade more. Alarm bells start ringing in my head, if I want to close the account I have to match the amount in the account and transfer from my bank to Binance, before I can withdraw apparently this will only take 30 minutes , I haven't because I am very wary, can anyone help me ?

It sounds like you have been scammed. No reputable company will ask you to send more money in order for you to make a withdrawal 
Don’t send them any more money. Your original funds have likely already been lost. Sending more money will just increase your loss.

Who, exactly, did you open an account with, and how did you find them?

ColdIron

I'd prepare yourself for a disappointment. Don't give them any more money

Shanwick

Trustpilot shows a listing for cryptoportfolio with multiple indications that it is a scam.

MX5huggy

£250 of bitcoin in June is today worth about £170. So it’s just all made up rubbish. Forget it all. 

Frequentlyhere

You should be wary, you're being scammed OP. That they're asking you to transfer more money is a huge red flag.

You don't need any more sign than that, but other alarm bells are that they claim your crypto is x5 up when almost everything has fallen in value recently and that I can't find any trace of a firm called 'cryptoportfolio' on the net. Do they have a website out of interest?

msallen

You've already lost your £250. DO NOT send them any more money as all you will do is lose that too. 

Also be aware that you will probably be on a "suckers list" now so watch out out for other "too good to be true" offers in your inbox.

MarkCarnage

All of the above. Your thread headline is also oxymoronic - i.e. a contradiction in terms. 

akira181

as said above, any investment gamble into bitcoin in the last few months will not have been profitable, that ship has long since sailed and the crypto market is in a deep decline. Whether it survives is anyone's guess

Binance claiming you've turned a profit is highly unlikely and wanting more money before they'll pay you is utter nonsense. It's right to have alarm bells ringing, everything has the air of scam to it.

If it was only 4 months ago and you paid by credit card, you might be able to get a Section 75 refund although not sure how banks view crypto transactions.

YellowStarling

Seems a similar experience to this poster's, even down to the original investment amount of £250. 

https://forums.moneysavingexpert.com/discussion/6389705/bitcoin#latest

The OP on that thread never returned to confirm the name of the company/scam, wonder if it's the same as this thread's.