Following on from my dissatisfaction with Alchemist AI, Manyways was appearing on the Trustpilot views occasionally as an alternative. But, being cautious and and sceptical I did a bit more digging around Manyways.
There was really very little online which did concern me, but virtually everything was actually either really positive or was a review / comment by someone who potentially hadn’t quite grasped trading / investing and their comments actually highlighted their misunderstandings more than anything else.
In a nutshell, Manyways requires you to commit to an investment amount (minimum $1,000) for a period of 7 days. Over this week, you can’t withdraw or anything and they say that there will always be a minimum return. The returns are banded as:
- 20% return with investment of between $1,000 and $4,999
- 25% return with investment of between $5,000 and £19.999
- 30% return with investment of between £20,000 and $49,999
- 35% return with investment of between $50k and $1m.
Deposits and withdrawal are via a selection of Cryptocurrencies.
Setting up the account
The account creation was simple enough, requires ID and to setup two factor authentication – all the steps you’d expect. The platform is fine – it’s been overengineered to feel like an application and the downside is that it’s very laggy and slow from a user interface perspective but when you know to just be patient it’s all fine.
Depositing
I used bitcoin as my funding source (as was already setup and as it turned out had a decent amount in there) so deposited $1,000 of bitcoin into the account. This appeared in the “Pending Deposit” section of the Dashboard and within 25 minutes was available as a balance.
Investing
Navigating to the Invest section, I was at the bronze level for 20% returns so placed an investment of $1,000 and that was that! There’s no further options, nothing to do, nothing to really see so left it there.