In recent days, I have received multiple calls from various Greek phone numbers, with a particularly aggressive and pushy approach, promoting a partnership with the cryptocurrency platform Millionero.com. The callers claim they found my details online and, given that I work with several companies, they contacted each one to promote a partnership with this particular platform. They also persistently asked me to confirm my email (which they found online) so they could send me promotional materials, which I tried to politely decline but was pressured into accepting.
Millionero.com presents itself as a cryptocurrency exchange platform that emphasizes simplicity and ease of use. According to its official website, the platform offers spot and perpetual trading services, allowing users to trade with leverage up to 100x their deposited amount. Additionally, Millionero highlights partnerships with well-known football clubs, particularly emphasizing PAOK FC, and has received awards such as “Best Emerging Crypto Exchange of the Year” at the World Blockchain Summit 2023 in Singapore, which I was unable to verify as genuine or simply paid sponsorships.
It’s worth reminding those newer to cryptocurrency that the FTX exchange was one of the biggest sponsors of sports teams and Formula 1, and that didn’t prevent FTX customers from losing their money.
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However, my experience with Millionero’s promotional team was extremely negative. The calls were frequent, up to 4-6 times per week from different phone numbers, with representatives being extremely pushy, trying to convince me to sign up on the platform and invest, presenting promises of specific profitability. They frequently cited the partnership with PAOK as proof of reliability, implying that a Greek football club wouldn’t partner with an unreliable platform.
It’s important to note that a company’s partnership with a well-known sports club is not proof of its reliability or solvency. Sponsorships are based on commercial agreements, and the club bears no responsibility for the sponsor’s business practices or financial situation. In case of problems with the platform, PAOK will not be liable for any investor losses.
Recently, one of my companies, Tictac Cyber Security, became a sponsor of Panathinaikos FC, and while it’s an amazing partnership, I must say that for the end customer, it may seem like a big deal that raises Tictac’s profile and offers great visibility. But what customers should really look at to trust us is that Tictac is a company operating since 1999 with facilities in Greece and a broad client base. The only thing we know when a sponsorship happens is that the advertiser has the financial ability to pay the team, not that they are reliable or not.
Proceeding with further research, I found that reviews of Millionero.com on various review platforms are mixed, and I outline my findings below.
On Trustpilot, the platform has a 3.9/5 rating, with users praising low fees and efficient withdrawals, while others express concerns about its reliability.
On Scamadviser, Millionero.com receives a low trust score, indicating potential risks. In contrast, the subdomain app.millionero.com is rated with a high trust score, suggesting it may be safe for consumers. So, without wanting to judge whether the platform is reliable or not, since there isn’t sufficient evidence, beyond the fact that the platform has only been operating for about 2 years, the conclusions are always up to the reader.
Furthermore, Millionero does not appear to be regulated by any governmental authority, which may increase the risk for investors. In simple terms, this means no one appears to be overseeing Millionero.
In conclusion, my experience with Millionero.com’s Olympus promotional team was negative due to their aggressive approach. Despite partnerships with well-known sports clubs and positive reviews, the mixed ratings and lack of regulation raise concerns.
Investors are advised to be particularly cautious, conduct thorough research, and not rely solely on sponsorships or advertising partnerships as indicators of reliability.