The website is really good and professionally built at least from the homepage point of view but it is not good enough to convince me.
I search on the website for the regulated insurance or bank which can assure of the funds safety but coulld not found any.
There is nothing like that also at their FAQ https://medium.com/harubank/harubank-faq-here-to-answer-frequently-asked-questions-8bd7ea2523af
Topic: Fixed interest (up to 12%) on BTC, ETH, USDT while holding (Read 332 times)
That's why I'm curious to know how and why people are so sure and stigmatize that the new / not-well-known service is definitely a scam, and what they choose as primary factors to evaluate. 
exactly that, new unknown service offering very high return is one of the factors well established company and proven business model would gain users trust
If someone is giving you 12% on your deposit, they'd have to be lending it out at 14%. Which is impossible because no-one would borrow at those rates.
I see banks in my country gives 5% on certified time deposit and charge at least 10% on credit loans and those are yearly rate, while this "harubank" gives 12% monthly?!
that means 144% yearly,... if it's not scam/ponzi then it's a very high risk investment and won't stay long
HaruBank is backed by a Singapore based blockchain investment firm - Block Crafters Capital - which operates similar to a hedge fund. Be careful when putting your crypto in this kind of investment programs. It looks like a "bank" which the society think of as "safe", but your deposit is not guaranteed in this case by no entity and that "interest" is in fact a "return" of the investment activities performed by Block Crafters Capital. If BCC bankrupts most probably you will be left without any of your holdings.
as I have already said, it is obviously the promotion of a Ponzi scheme. I'm going to red-tag this user. We don't need fraud projects like this. Cryptocurrencies is already in hard position by noobs, fake investment service like this does not help.
HaruBank is backed by a Singapore based blockchain investment firm - Block Crafters Capital - which operates similar to a hedge fund. Be careful when putting your crypto in this kind of investment programs. It looks like a "bank" which the society think of as "safe", but your deposit is not guaranteed in this case by no entity and that "interest" is in fact a "return" of the investment activities performed by Block Crafters Capital. If BCC bankrupts most probably you will be left without any of your holdings.
This topic must be another perfect example of scam attempt in the name of discussion.
OP's account registration : December 17, 2019, 01:47:51 AM
This topic's time : December 17, 2019, 02:59:58 AM
This BTT account was opened purposefully for this topic but open-post was composed like seeking casual opinion from this community. A new account when it was created to introduce a new services then they will go like we are doing this and we are offering this (even it will be a ponzi/scam attempt) but here stating everything like an end user which means hiding as an end user which signals OP might be owner/team member of this services.
I have come across few interest providing services for crypto deposits. I am not sure how you people are convincing yourself to try such services even after hearing 100s of exchange hacks and scams.
Your crypto will be safer only when it resides within your wallet where you control the privatekey. Bitcoin provided 10000% growth from January 2015 to November 2017. I bet no banks will be afford to provide us such a massive returns for your investments.
I will try an interest providing services for my cryptos when they ask me to submit a signed message for proof of holding cryptos. I know that never will be possible
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OP's account registration : December 17, 2019, 01:47:51 AM
This topic's time : December 17, 2019, 02:59:58 AM
This BTT account was opened purposefully for this topic but open-post was composed like seeking casual opinion from this community. A new account when it was created to introduce a new services then they will go like we are doing this and we are offering this (even it will be a ponzi/scam attempt) but here stating everything like an end user which means hiding as an end user which signals OP might be owner/team member of this services.
I have come across few interest providing services for crypto deposits. I am not sure how you people are convincing yourself to try such services even after hearing 100s of exchange hacks and scams.
Your crypto will be safer only when it resides within your wallet where you control the privatekey. Bitcoin provided 10000% growth from January 2015 to November 2017. I bet no banks will be afford to provide us such a massive returns for your investments.
I will try an interest providing services for my cryptos when they ask me to submit a signed message for proof of holding cryptos. I know that never will be possible
. That's really high. How can they give fixed returns like that? What kind of business do they run? Are there a million users or what?
I feel safer with Compound, to be honest. The rate is not that good but at least I know how they get the interest.
I feel safer with Compound, to be honest. The rate is not that good but at least I know how they get the interest.
Scams?
The rule of thumb is that a return is usually about 2% lower than they can lend it out for.
So a bank may give you interest of 0.5% on your deposits while lending the deposit out at 2.5%
If someone is giving you 12% on your deposit, they'd have to be lending it out at 14%. Which is impossible because no-one would borrow at those rates.
Which means this is a scam to entice the greedy to deposit their coins, and then vanish with them.
Is this a paid post? since s/he is a newbie, we cannot trust your evaluation due to the high risk.
There is no indication that companies have a real headquarters, positive ratings, a source of funds, how they will be able to bear the payment and other things. The payoff is high, the risk is zero, and there is no upper or lower limit.
I can say that they are scammers and they have to prove otherwise.
More Info:
Paid post? Haha, I would imagine paid post on hero/legendary member with some trust but not on newbie.There is no indication that companies have a real headquarters, positive ratings, a source of funds, how they will be able to bear the payment and other things. The payoff is high, the risk is zero, and there is no upper or lower limit.
I can say that they are scammers and they have to prove otherwise.
More Info:
Quote
Updated Date: 2019-04-23T06:35:08Z
Creation Date: 2019-04-23T06:35:07Z
Registry Expiry Date: 2020-04-23T06:35:07Z
Registrar: GoDaddy.com, LLC
Creation Date: 2019-04-23T06:35:07Z
Registry Expiry Date: 2020-04-23T06:35:07Z
Registrar: GoDaddy.com, LLC
satoshlover <-- registers there to just post that he has heard about harubank.
You guys are busted already without even visiting to website and or even googling to it.
OP at first I suggest you to compare your deposit interest rates to worldwide bank rates, even least developed countries and developing countries in most cases don't offer higher than 10% interest rate on deposits and there is a reason why that happens. By buying domain/hosting and theme, you can't create business and especially silly scam website.
Where is your headquarter, which banks are your partners, how many employees do you have, who is your HR, who is CEO, write everything or go out.
Of course, I wouldn't deposit a substantial amount until I gain an adequate amount of trust.
Yeah, as pointed out by TheUltraElite above, this is exactly how scams and Ponzis operate. If they just stole the money of the first couple of people to deposit, they would make a tiny amount and those users would warn everyone else that it is a scam. So instead they pay out as advertised, enticing users to both deposit larger and larger amounts whilst also referring their friends and advertising this great service. Once they have much larger amounts being deposited, that's when they disappear.Why would a random crypto start up be able to offer guaranteed returns far higher than what the world's biggest banks and financial institutions can offer?
Thank you for your comment fortunejack!
Quote
So you mean that the Nexo and celsius can also be scammers, but so far, the way they seem is legit, right?
There is a difference between what is legit and what is a scam. A project may be both or none or either of the two.Quote
My question is that what could be the "most significant factors" that people evaluate those services seem legit or scam?
There is no such yardstick.Quote
For example, since harubank seem to provide the highest interest among other defi & crypto finance services, so I deposit a small amount of BTC to test the service (done KYC & withdraw) and worked really fine.
Quote
For me to gain trust is to try the service to see if they are keeping the promise. Of course, I wouldn't deposit a substantial amount until I have more than 80% trust, but my way is to experience the service.
The above two statements explain clearly how scammers attempt to gain confidence of newbies and gain trust. MLMs are built in a way that the new investor's money is used to pay the old investor. Gradually this cycle will stop and the site will exit scam. Its not possible to predict which one is scam but the signs are there.Quote
So, I'm curious to know about how and why people are so sure and stigmatize that the new and not-well-known service is definitely a scam.
Read the post made by o_e_l_e_o, if you still believe it is not a scam then I cant help you clear your confusion.-snip-
Ahh calm down kiddo.See you may be posting a project without knowing about it but I highly suspect that. But someone has to take the initiative and mark it to be a suspicious one and possible scam. Now these MLMs are confidence scams done by snowballing. The only way for people to stop them is to mark the people promoting them as scammers. You may not like it but you chose to promote it so the burden remains on you.
Now haru may very well be a scam. I wont talk about Nexo or celsius, because these lending platforms are often manipulating loans by creating them and making it seem like the platform is legit. What is actually done with the money is still not clear unless you have insider job.
I understand..
Thank you for your comment fortunejack!
So you mean that the Nexo and celsius can also be scammers, but so far, the way they seem is legit, right?
My question is that what could be the "most significant factors" that people evaluate those services seem legit or scam?
Since harubank seems to provide the highest interest among other defi & crypto finance services, I deposit a small amount of BTC to test the service (done KYC & withdraw) and worked really fine.
For me, to understand service really is to try and see if they are keeping the promise in the long-run.
Of course, I wouldn't deposit a substantial amount until I gain an adequate amount of trust. Still, my way to evaluate is to experience the service.
That's why I'm curious to know how and why people are so sure and stigmatize that the new / not-well-known service is definitely a scam, and what they choose as primary factors to evaluate.
Thanx!
-snip-
Ahh calm down kiddo.See you may be posting a project without knowing about it but I highly suspect that. But someone has to take the initiative and mark it to be a suspicious one and possible scam. Now these MLMs are confidence scams done by snowballing. The only way for people to stop them is to mark the people promoting them as scammers. You may not like it but you chose to promote it so the burden remains on you.
Now haru may very well be a scam. I wont talk about Nexo or celsius, because these lending platforms are often manipulating loans by creating them and making it seem like the platform is legit. What is actually done with the money is still not clear unless you have insider job.
Well, I get the points you guys mentioned, and TMAN thinks I am a Ponzi promoter.. Because I'm new and my first post is about the project that he doesn't know? 
I dropped their SNS so you can also evaluate them.
Anyways, almost all services like HaruBank, even if they may be is a project, really wants to do the business right, still, there is no way to ensure that the service is not a scam legitimately.
I think in this arena, what matters ultimately is the evidence of progress along with time
Can you guys name me the service that you use and the reason why you gave them the trust?
Celsius network? NEXO?
Thanx!
I dropped their SNS so you can also evaluate them.
Anyways, almost all services like HaruBank, even if they may be is a project, really wants to do the business right, still, there is no way to ensure that the service is not a scam legitimately.
I think in this arena, what matters ultimately is the evidence of progress along with time
Can you guys name me the service that you use and the reason why you gave them the trust?
Celsius network? NEXO?
Thanx!
Their Terms of Service is plagiarized from various sources, including https://blockfi.com/terms/ and https://app.reinno.io/REINNO_EARN_TAC.pdf.
Their Privacy Policy is plagiarized almost completely from https://www.circlesway.com/privacy.
Also, somewhat concerning statement from their "Customer Service" portal once you open an account:
Untrustworthy at best, but I agree with all the above comments that this is most likely a Ponzi.
Their Privacy Policy is plagiarized almost completely from https://www.circlesway.com/privacy.
Also, somewhat concerning statement from their "Customer Service" portal once you open an account:
Quote
To make a withdrawal from your accounts or monthly deposits, Haru Bank requires you to complete KYC verification in compliance with KYC (know-your-client) and anti-money laundering regulations.
I had absolutely no problem finding a bitcoin address to deposit to, however, with absolutely zero mention of KYC. So they will happily take my deposit, and then hold it hostage until I complete KYC.Untrustworthy at best, but I agree with all the above comments that this is most likely a Ponzi.
A company with such a high profit must have a serious website, not a $50 worth template with HYIP script.
Interestingly (but sad reality at the same time), a $50 template is all you need to make a lot of money. Richard Heart's HEX website looks like shit yet people found it worthwhile to send him $6 million worth of Ether. Why spend more money than necessary? The shut up and take my money mentality here is what scammers happily exploit.
People say fuck banks yet they entrust their precious coins to centralized shady entities without trackrecord. How retarded can people here be? Even if the intentions behind the 12% interest were legit (remember, having good intentions still doesn't mean you will be paid out), will you really risk 100% of your stack for just 12%? Very bad deal. Hodl. No one has lost a single satoshi doing that.
harubank can increase the number of BTC, ETH and USDT(They give about 12% of the number of deposited BTC, ETH and USDT.).
I think it would be the reason why they can give high interest(without hedging fee and so on).
I think it would be the reason why they can give high interest(without hedging fee and so on).
This has been mentioned above, and on the title too. Don't know why you should repeat it.
Anyway, my opinion will still be the same. Even if they run a legit lending business, 12% is still high. Either they have a very high-interest rate for the borrower or they got the money from somewhere else. A high-interest rate usually means a lower user base, so guess the rest of the story.
12% monthly is more than high rate. Mafia and loan sharks don't have that much interest.
to me, this seems like a new way of presenting a scam. Newbie comes here and asks for advice on shady investment. then accidentally post all social media links with more pieces of information about limits etc...
A company with such a high profit must have a serious website, not a $50 worth template with HYIP script.
harubank can increase the number of BTC, ETH and USDT(They give about 12% of the number of deposited BTC, ETH and USDT.).
I think it would be the reason why they can give high interest(without hedging fee and so on).
I think it would be the reason why they can give high interest(without hedging fee and so on).
This has been mentioned above, and on the title too. Don't know why you should repeat it.
Anyway, my opinion will still be the same. Even if they run a legit lending business, 12% is still high. Either they have a very high-interest rate for the borrower or they got the money from somewhere else. A high-interest rate usually means a lower user base, so guess the rest of the story.
I also heard harubank.com.
harubank can increase the number of BTC, ETH and USDT(They give about 12% of the number of deposited BTC, ETH and USDT.).
I think it would be the reason why they can give high interest(without hedging fee and so on).
I heard that Asian crypto fund would be backing the service now.
harubank can increase the number of BTC, ETH and USDT(They give about 12% of the number of deposited BTC, ETH and USDT.).
I think it would be the reason why they can give high interest(without hedging fee and so on).
I heard that Asian crypto fund would be backing the service now.
Fixed rate of 12% while holding crypto 
I mean We are talking about volatile crypto that can be 7K today and 3K tomorrow. How are they planning to ensure that the volatility won't affect their business model?
I wouldn't advice anyone to deposit there money there. It's way too risky
I mean We are talking about volatile crypto that can be 7K today and 3K tomorrow. How are they planning to ensure that the volatility won't affect their business model?
I wouldn't advice anyone to deposit there money there. It's way too risky
Yeah it sounds like they are going to pay some people for couple weeks/months then advertise even more and steal the biggest kush they can get.
It happened thousands of times already
i'm seeing red flags all over the place. this is basically another scheme like bitconnect where depositors lend capital in return for high-yield interest payments from an opaque "arbitrage trading, quant trading" system.
compare harubank's explanation with bitconnect:
compare harubank's explanation with bitconnect:
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What does HaruBank do with my deposits?
Your deposit generates stable profit through institutional loans and asset management. Trusted asset management partners of HaruBank include Block Crafters Capital and other global partners based in the United State, Singapore, and Japan.. With investment portfolio management and low-risk investment strategies such as arbitrage trading, quant trading, HaruBank offer you stable yet competitive interest rates.
Your deposit generates stable profit through institutional loans and asset management. Trusted asset management partners of HaruBank include Block Crafters Capital and other global partners based in the United State, Singapore, and Japan.. With investment portfolio management and low-risk investment strategies such as arbitrage trading, quant trading, HaruBank offer you stable yet competitive interest rates.
Quote
You can invest BitConnect coin in Bitconnect lending platform exclusively from the BitConnect Dashboard. This investment option involves profiting from Bitconnect trading bot and volatility software. You will receive daily profit based on your investment option.
Fixed rate of 12% while holding crypto
I mean We are talking about volatile crypto that can be 7K today and 3K tomorrow. How are they planning to ensure that the volatility won't affect their business model?
I wouldn't advice anyone to deposit there money there. It's way too risky
I mean We are talking about volatile crypto that can be 7K today and 3K tomorrow. How are they planning to ensure that the volatility won't affect their business model?
I wouldn't advice anyone to deposit there money there. It's way too risky
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