Secretcoin is a "member only" site, that is you need to be invited to it by someone (S). This person S will then help you "trade".
The site deals in a casino like "trading" where you set a bet on a cryptocurrency during a period of time where the time and the possible revenue depends on the size of the bet. The alternatives for trading are Fast - or Contract - long and short trading. Spot trading can be chosen as well. With S I only did Fast trading. I learned that "trading" with S meant 100% chance of winning. On my own the chance of winning is 0%. Clearly the idea is to have you invest a substantial amount of money. And you'll win hugely at the start - 10% winning on e g $5000 is $500 for a few minutes "trading". This is of course way too good to be true. And it is. A total fake.
Fast trading works like this: If you have less than $50000 in funds your bet length is 60 seconds and the win is 10%. If your funds is at least $50000 the length is max 90s and the win 15%, and so on. At the top level max bet length is 600s, which require a minimum of $1000000 in funds, the win is 50%. You win if the value of the crypto currency you're betting on increases over the time length. If it decreases (when doing "long trading") you lose 10% on the 60s level and 50% at the 600s level. For example if you bet $300000 on the 600s level and lose, you lose $150000.
Now, there aren't much written down regarding site rules. There is a FAQ that doesn't give any information on withdrawal rules. When you start off, typically at a modest level, say, $5000 you're placed on the VIP1 level. That means, they say, you have to do transactions to a cumulative amount of $40000 before you can withdraw funds. Unfortunately that's a lie. When I reached the $40k cumulative transactions I still couldn't withdraw anything. Then they said I need to reach $30000 in funds to be upgraded to VIP2 and then there are no restrictions on withdrawal. You see where it's leading. I never got there so I don't know if it's true. I seriously doubt it.
Secretcoin is just as standing at a rigged roulette table guessing. I did exactly that a number of times and some of the times the numbers on the screen told me I won, but the system deemed me losing based on just made up numbers. I won excatly 0 times.
Secretcoin (same site changing domain from time to time) is a scam. Any money you put in there is lost and you can never bring out any wins. My cost for finding all this out was around $7k. Hurts but I'll survive...
Betrug Melden
