Is goarbit Legit Or Scam Crypto Currency Rent System? [Review]


GoArbit has gained attention recently as a cryptocurrency investment platform that promises high returns through automated arbitrage, mining, and trading. However, there are conflicting opinions on whether GoArbit is a legitimate business opportunity or an elaborate scam. This review aims to provide an objective assessment of GoArbit based on available information to help individuals make an informed decision.

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Overview of GoArbit

GoArbit markets itself as a hands-free automated cryptocurrency arbitrage, mining, and trading platform that generates profits for users or ‘investors’ daily without them having to do anything. The company claims to utilize advanced algorithms and software to identify and capitalize on price differences across cryptocurrency exchanges and markets.

Users essentially rent the company’s mining hardware and trading software to earn passive income. GoArbit offers various investment packages with promised returns ranging from 5% to 15% per month, paid out daily. There is also an affiliate program that pays commissions for recruiting new users.

The company was apparently founded in 2019 and is based in Estonia. However, specific details about the team behind GoArbit are unclear. The website provides limited information about how the business operates.

Concerns about GoArbit’s Legitimacy

Despite GoArbit’s claims and promised returns, there are several red flags that raise doubts about whether it is a legitimate business or an elaborate scam designed to defraud users.

Lack of Transparency and Registration

One of the biggest concerns is the lack of transparency about GoArbit’s operations and the people behind it. There is very limited verifiable information about the company’s registration, management team, and legal compliance.

The website does not provide any documentation to validate the company’s legitimacy such as registration certificates, terms of service, privacy policy etc. There are also no details on who owns or runs GoArbit.

This lack of basic transparency and accountability is a major red flag. Legitimate businesses especially in the financial sector are expected to provide such information to users.

Suspicious Business Model and Practices

GoArbit’s business model and practices also raise several questions. The company claims to generate high returns through automated arbitrage, crypto mining, and trading without providing any audited financial reports to substantiate these claims.

The promised returns seem unrealistic and too good to be true based on typical returns in the cryptocurrency marketplace. Furthermore, GoArbit’s proposed mining and trading activities would require massive capital investments in hardware and software infrastructure which is not evidenced anywhere.

The company also does not sell any clear products or services – users are simply ‘renting’ the platform to earn passive income. This lack of retail products or services indicates that GoArbit may be using new user funds to pay existing users rather than generating legitimate profits, which is characteristic of Ponzi schemes.

Lack of Registration with Regulators

GoArbit does not appear to be registered or regulated by any financial authorities such as the SEC. Operating such a cryptocurrency investment platform without proper registrations violates regulations in most jurisdictions.

Legitimate investment companies are typically required to comply with relevant regulations on activities like securities trading, investment advising, and portfolio management. GoArbit’s lack of regulatory oversight is therefore a cause for concern.

Pyramid Referral Scheme

GoArbit incentivizes users to recruit new participants through an affiliate program that pays commissions. Each user who invests gets a unique referral link to share and earns 10% commission on deposits made by anyone they recruit.

This referral reward system resembles a pyramid scheme where money from later participants is used to pay earlier joiners. The long-term viability of such programs relies on continuously recruiting new users rather than profits from business activities.

No Independent Audits or Verification

There is no evidence of GoArbit’s trading or mining technology being audited or verified by independent experts. The company does not provide any data or analytics on the strategies and mechanisms through which it purportedly generates returns.

Without audited records, investors have no way to evaluate if the promised profits are realistic and achievable through GoArbit’s systems. The complete lack of transparency and third-party verification are signs of a potential scam.

Negative Reviews and Complaints

In addition to the suspicious practices outlined above, GoArbit has received several negative reviews and complaints questioning its legitimacy.

  • On the review site Trustpilot, GoArbit has a 1-star rating based on 46 reviews as of November 2022, with 92% of reviewers considering it bad or poor1. Most complaints allege that withdrawals are delayed or denied, customer service is unresponsive, and the company refuses to return investor funds.
  • On another consumer review site, users have lodged over 50 complaints accusing GoArbit of being a Ponzi scheme and scam2. Many users state they stopped receiving payments after a short period and were unable to withdraw their deposits.
  • One review details how a user invested $12,500 but was unable to withdraw even their original deposit3. The company allegedly provided excuses and ignored support requests. Eventually, the website stopped working altogether.
  • GoArbit is also discussed extensively in a ‘scams’ thread on the BitcoinTalk forum, with many contributors warning others not to invest4. The thread highlights payment and withdrawal issues faced by numerous users.

While some positive reviews exist, the prevalence of concerning complaints indicates serious problems with GoArbit’s legitimacy and business practices.

No Registration or Accreditation

Checking for valid registration and accreditation is an important part of researching any investment opportunity. However, GoArbit does not appear to have any business registrations or accreditation that can be independently verified.

  • There is no record of GoArbit being registered as a corporate entity or financial services provider in Estonia where it claims to be based. No company registration number or other identifiers are provided on the website.
  • GoArbit is also not accredited with the Better Business Bureau (BBB) which requires companies to meet certain standards relating to transparency and customer service5.
  • The platform is not registered under relevant financial regulators like the SEC, FINRA, or the CFTC in the jurisdictions it serves. Regulatory registration would require adherence to reporting rules, capital requirements and oversight designed to protect investors.

The lack of verifiable registration or accreditation from any independent business and regulatory oversight bodies raises concerns about GoArbit’s legitimacy as a business entity. This makes it risky for potential users or investors who have no legal recourse or protection.

Warning Signs of a Cryptocurrency Scam

Analyzing GoArbit based on warning signs commonly seen in crypto investment scams further indicates that it exhibits many of the red flags:

  • Offering unusually high, guaranteed returns with no risk – GoArbit promises 5% to 15% daily returns, which is extraordinarily and unfeasibly high for regular cryptocurrency investing. Legitimate investments cannot guarantee profits, especially not at such high rates.
  • Pressuring to invest quickly – GoArbit urges users to sign up quickly to not miss out on high returns, another sign of a scam operation.
  • Overly complex and unclear investing process – The company provides little detail on how exactly it generates returns for users through its secretive algorithms and technology. Lack of transparency is a persisting concern.
  • Anonymous team – The founder and team behind GoArbit remain anonymous with no proven track record or credentials. This lack of verifiable information about who owns or manages the business is a glaring red flag.
  • Website contains spelling/grammatical errors – Some parts of GoArbit’s website contain typos and awkward phrasing, indicating lack of effort put into making it look professional. This can be a sign of a scam run hastily without meticulous attention to detail.

Based on these warning signs commonly associated with crypto investment scams, GoArbit exhibits several characteristics that indicate it is likely a fraudulent scheme rather than a legitimate platform.

The Verdict – Likely a Scam

In summary, while there are some isolated positive reports about GoArbit, the overwhelming amount of evidence from its suspicious practices, negative reviews, lack of transparency and registrations, and scam warning signs lead to the conclusion that GoArbit is likely an elaborate scam operation.

The company shows multiple characteristics that are red flags in the cryptocurrency investment space indicating it aims to defraud users rather than provide a legitimate platform to earn passive income.

Without transparent audits, verified registration details, know-your-customer rules, and other standard procedures expected of legitimate financial companies, users have little recourse or guarantees that GoArbit will deliver on its promises.

The number of users complaining about non-payment, withdrawal denials, and lack of customer service suggest it is not actually involved in income-generating activities like mining or arbitrage. Instead, it exhibits traits of a Ponzi scheme that relies on funds from new recruits to pay earlier investors.

Until GoArbit can provide more transparency, audited records, regulatory oversight, and satisfactory explanations for its suspicious practices, potential users are better off avoiding investing on this platform to steer clear of losing their funds in what is very likely an investment scam. The old adage applies here – if something appears too good to be true, it probably is.


This review aimed to take an objective and evidence-based look at GoArbit and determine if it is a legitimate passive income opportunity in the cryptocurrency space or an elaborate scam. Based on analysis of available information on its business model, practices, user experiences and warning signs, GoArbit displays multiple characteristics that classify it as a likely scam operation rather than a trustworthy platform.

The lack of transparency, audits, proper registration and regulatory oversight make it risky for everyday investors who would have little recourse if GoArbit fails to deliver on its promises or deny withdrawals. While the promise of high passive profits with no work may sound tempting, potential users should carefully research any investment opportunity and watch out for the red flags outlined here before putting in any money. With cryptocurrencies still in a relatively unregulated space, due diligence is essential to avoid falling victim to scams.

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