Berry Max, Is It a Scam? Investigating the Claims' Veracity

88 Most of investors of Berry.im token was from South Africa, Botswana, UK, Rwanda, and USA. While its parent company, FS Global, is trying to retain its customers by posting daily updates on Telegram. CEO of Non-Bank Financial Institutions Regulatory Authority, Botswana, issued public notice that Berry.im does not have licence to provide/trade virtual assets

What is Berry trading platform？

In a technical definition, Berry trading platform is a crypto digital exchange, trading and investment platform created on the Ethereum network and using the TRC20 and ERC20 token.

In a non-technical definition for the ordinary man on the streets to understand, Berry trading platform, known as berry.im ( the original address) is an online platform where you can buy, trade and sell cryptocurrencies.

Now, when talking about crypto, it is not just bitcoin. Bitcoin is the most popular and most established coin and at berry.im, trading of coins against each other to make profit is being done.

The standard operating coin of berry is USDT ( a digital term for a digital form of dollars, called fiat currency). So basically, berry.im trades other currencies against the USDT.

How Berry.im Crypto Trading Platform Works

As an active participant on the FS global berry platform who invested USD1000 ( R20,100) to start with, the following are my observations on how the platform works.

Berry.im platform operating model is based on:

• A multi-level marketing channel

• A crypto trading exchange

• And a slight investment platform ( probably by 10% of definition)

Difference between berry and other platforms

I mentioned Novatechfx, a somehow similar platform to berry.im but totally different in its approach and to be honest, the model looks shady and somehow of a scam in the making.

Berry is not a quick money scheme, neither is it a pyramid scheme; you are basically the one doing the trading by yourself.

For example, if you invest USD100 or R2000 in berry, if you do not trade the money on a daily basis with the free signals, your money stays like that forever.

To me, this is a great turning point because you just have to work everyday to trade and make the money; berry trading platform is a not a crypto platform where you invest your money and after 30 days, you come back to collect the dividends or profit.

About Berry Max Scam

The public notice was issued by NBFIRA on 12th/December/2022, indicating that Berry.im crypto trading platform is an unlicensed virtual asset service provider. However, Berry.im continued to gain investments from thousands of investors. Berry.im platform was registered for one year on 13th/June/2022 and will expire on 13th/June/2023. It is a high alert signal as one month before expiry of website's registration, Berry.im stopped withdrawals! Major development started on 2nd/May/2023 when investors noticed that they could not withdraw their funds.

Berry.Im used to allow minimum of $10 to maximum of $1,000 withdrawals within 24-hrs. Amid investors' worries, Berry Max Trading Platform tried to prevent havoc by officially publishing a notice on platform that Berry.im is getting upgraded and due to technical issues, deposits and withdrawals were temporally suspended. Berry.im got some time to cope by publishing such notice. But, situation got out of control as even after 20-days, issue was unresolved, and this time, it had hurt confidence of its investors

Ponzi schemes

With announcements about deactivating several fraudulent accounts, which is considered to check Is Berry Max a Scam, Berry.im announced bonuses and promotions for staking BRY tokens. It offered 10-times valuation increase, 30% Member Appreciation Bonus, and access to quick buy options and withdrawals after Berry. Im converted to BERRY MAX tokens on 23rd/May/2023. Further, Berry.im announced that it is focused on stabilizing BRY tokens as Investors may sell BRY tokens and withdraw money due to recent development and rebranding. Hence, platform offered several promotions to stake BRY for next 90-days!

Conclusion

Berry.im website is currently inactive, and in several regions, it populated a 404 page not found error! Updates are provided via Telegram only. By this, you might have understood that Berry.im is getting shut down but still trying to accumulate as many Investments as possible by offering promotions for staking and by disabling withdrawal options! Hence, BERRY MAX seems Wigitimate.