Centra Tech is one of the cryptocurrency brokers that claims to use blockchain technology for facilitating trading in cryptos. In the ongoing line of scam brokers Centra seems to be a new joiner. Centra offers more than 8 major cryptocurrencies and has also launched a multi-blockchain debit card. Indeed, Centra presents itself as the most attractive and technologically update cryptocurrency trading platform, but let’s see how genuine its claims and intentions are. Read the full Centra review here.
Centra Tech Inc, majorly known as Centra is a Miami based start-up. The broker has advertised itself as an advanced cryptocurrency broker which has built a debit card system for cryptocurrency trading. It also provides a wallet app for its client to store their cryptocurrency assets. All of the claims made by Centra are complete false and the company is nothing but a scam. To add up to the fact that the company is a scam, the co-founder of Centra has been found guilty for committing securities and wire fraud. Robert Farkas along with the co-founders Sohrab Sharma and Raymond Trapani misrepresented Centra’s true purpose as they worked to dupe investors out of more than 25 million dollars. This has all been said and admitted in the court of justice. The broker has pitched investors on a “Centra Card” which is a crypto debit card issued by Visa or Mastercard with transmitted license. It has also claimed that the founders are oxford pass outs to increase the credibility of the broker but according to prosecutor none of these claims are true. In their white paper, the merchant is charged with 3%, and Centra gives to his card holders 3% rewards in Centra tokens and 0.8% to token holders. So, in total 3.8% but the merchant is only charged 3%, how could this be possible? money doesn’t appear out of the air.
Is Centra a scam or legit firm?
Centra has been allegedly involved in fraudulent activities. It has launched its schemes and offering just for luring investors so that it can scam them. The company itself in its risk disclosure has mentioned, “their development may fail and investor’s CTR tokens could become useless due to technical reasons”. Above all, the founders of the Centra has been found guilty in the law court for the scam accusation. Therefore, Centra is a scam cryptocurrency broker and we would not recommend investing with this scam broker and risking your money.