Hi all,
Joe here, founder of Magnr.com. I can confirm that we are not a scam and we are not a ponzi.
First off here is our about page:
https://magnr.com/meet-the-teamOur team and all of its members have a very public profile that you can look up on LinkedIn, Facebook, Twitter etc.... whatever your preferred method. You could also use private investigators on us, we know other people have before.
Our office address is real as well. If any of this community want to come and visit us, we are there Monday to Friday around office hours. Contact us, come in and have a coffee on us and take a picture with the team to share your experience. I'm always shocked and surprised at how nobody ever seems to take us up on this offer.... Please I would encourage ANY community member based out of London to come by. Please PM me.
I already smell the Ponzi arount this one, another site that will end for disappearing with users money....let's see...
All of our team members have left established careers. None of us want to run a Ponzi because in a country like the UK, if you do, you'll quickly destroy any of your own future career prospects. Especially if you want to work in finance which I did previously (as did our current CEO).
We also wouldn't list our public profiles or office address if it was a Ponzi. The reason why should be obvious! We would rather not be hunted down if we were scamming people.
Further to that, our CEO Colin Kwan has just been elected to the board of the (UKDCA), UK Digital Currency Association who's role is to lobby for pro digital currency stance from the UK government. I think he's been doing an excellent job at this given that the UK currently has a very open stance towards crypto businesses.
On top of that, we're actively engaging with the UK's FCA and the CFTC in the US. If you scam, this is a very quick route to jail time!
I'm not sure how much more I could give you but if there are still doubters then I'll endeavour to provide as much as we can. (details about our public VC deals, publicly listed information, incorporation etc...) We know that this industry cannot grow or thrive without the trust of its community. We are all pro-Bitcoin and always wanting adoption to grow, especially in the UK.
To explain our products in as transparent way we can, can help ease your worries by being honest...
Our trading platform generates revenues in two ways, first of all we charge a trading fee, second of all we charge interest on leverage funds borrowed to place these trades out to market. You can see your trade execute on the selected exchange in real-time so you know its happening. This we can't falsify.
Our savings platform uses funds deposited by clients for leveraged positions on our trading platform. We are open and honest about this on our brochureware so let us know if this is not acceptable. Funds for the interest come from charges made to clients who place leveraged trades. This is what makes it a financial product as opposed to a ponzi scheme. Out team has taken lessons it learnt from their collective time working in the banking industry to create these products for the Bitcoin industry.
Hope that helps!
