Tl dr: Royal Q is a Ponzi.
Long story: In the past months a lot of people started to promote Royal Q. A BOT that connects to Binance and makes trades instead of you. You'll find a lot of people enthusiastic about it.
I didn't believe it, but I wanted to try it anyway.
Initial setup In order to use it, you need to be invited by a member. You have to pay a yearly subscription fee (about 100€) and also you pay a commission for every daily profit that the bot gives you.
red flags When you start, you're Level 1. There is a big telegram community about royal q. They celebrate when users reach a higher level. You get a higher level when you invite more users. You earn a commission every time a user join with your referral, and you also get a commission from every time they make any profit. When you start, you are level 1. You gain not only from who subscribed with your link, but also from who subscribed by a link made by someone who was invited by you. Just like a pyramid.
my results Exacly a month ago I invested 1000€ on binance with royal Q. After a month, I have 1100€. According to the leaders of the community, I should be happy because I made a +10% in a month without doing anything. They said I should invite more users if I want to gain more.
I strongly disagree with this point of view. I don't think i gained 100€, I think I actually lost them. If I put 1000€ a month ago in BTC, now I would have about 1200€ just by holding it. So this bot gives me a profit that it's lower than what I would make by just holding btc. In fact, now I have less btc than a month ago.
Most answers i got from the members were that I shouldn't think in btc but in usdt (wtf?). My problem is that I'm just a level 1, I should reach a higher level if I want to make more money.
So I asked how the referral system is related to the profit that the bot is supposed to provide, and I got banned.
In the end I didn't lose anything. I knew it was just a Ponzi, the friend who introduced me was so confident that he paid the subscription fee for me, so he lost 100€ because I won't use it anymore and he won't profit from my trades.
submitted by /u/Trevigol