onecash trading crypto scam

Onecash Trading Scam Issued Advisory By SEC


The Securities and Exchange Commission Philippines has issued an advisory against cryptocurrency trading platform Onecash Trading warning investors that it is a scam.

onecash crypto scam

Onecash Trading Describes Itself AsONECASH Trading is an online crypto currency trading platform engage in partnering and educating individual crypto currency traders and first timer traders to venture into a business of buying and selling multi digital currencies such as bitcoin, etherium, ripple, dash, litecoin, monero, SIBcoin, mooncoin, and many others via ONECASH Trading platform and send it in bulk to our global trading counterparts such as GDAX, COINBASE, POLONIEX, HitBTC, Kraken etc. ONECASH Trading solely earns from digital currency exchange rate difference and distributed the profits to all individual traders connected to ONECASH Trading platform based on agreed pay plan.


It seems Onecash claims to offer a platform where investors can buy various crypto coins which can then be sent and traded on various known platforms like GDAX, Coinbase, Poloniex, HitBTC, and Kraken. The company claims to only make money off the arbitrage from trading with different exchanges, which is then distributed back to individual traders using the Onecash platform.

onecash scam

The Onecash platform offers 3 different services, all guaranteeing the ability to earn profits, the classic red flag when it comes to crypto and investing scams.

Users of the platform can be a ride trader where they can earn up to 25% every week in 8 Trading Cycle weeks.  All though details are vague, their ride/auto trading is describes as:

Onecash auto trading services is a crowd funding services wherein all trader affiliates who don’t have a comprehensive knowledge about multi Cryptocurrency trading and don’t like to venture into direct trading are open to ride or join Onecash auto trading services. Wherein Onecash trading platform through master traders, group traders and sponsors collect the fiat money (entries) from interested individual including active trader affiliates then the platform or system convert it to digital assets and send it to global trading counterparts hoping to earn in a given time and return it to the individual owner with profits and vice versa.

So as the description and image states, you can earn as much as 25% a week for letting master traders trade for you. For example, you may invest $20,000 and earn a whopping $5,000 a week.

Onecash Trading Promo Video

Onecash also offers a mining program. The only details regarding the mining program are in the image stating all one would need to do is keep pushing a button until you become an instant big time digital miner. Sounds promising.

Lastly, the Onecash platform offers the classic tiered affiliate scheme where a referrer would receive commission from their affiliates, as well as a % of their affiliates referrals, and so on. That’s not saying all affiliate and referral programs are automatic indicators of a scam. However the model of multi-level-marketing where there’s so much emphasis on the ability to earn continuously off different levels of referrals are typically suspicious.


There really isn’t too much information about the platform as the website seems to focus mainly on marketing the earning potential, the different ways to earn, and when you’ll be paid. All things people who are desperate to earn easy money want to hear. Payments are offered “twice and thrice” times a week with an encashment cut-off time on Wednesdays midnight. Schedules always seem to make a project look more legitimate, all though it’s not clear why 3 different notices were necessary as all services seem to run on the same schedule. Details though!

Another major red flag when it comes to crypto scam companies is the lack of a physical location and team members information. It’s always easier to get away with a scam when you simply don’t exist. No business registration, or address to be found, or people to tie the business to. Onecash’s reasoning:

onecash trading office location team members

There really isn’t much information behind the domain as it does have privacy protection. The site was registered with GoDaddy on July 19th, 2017, with its servers in Scottsdale Arizona.

onecash trading information

It seems Onecash Trading has mainly set their marketing focuses on the Asia region, specifically the Philippines, probably due to the lack of exposure and education regarding financial scams. The SEC PH has stated Onecash Trading is not registered with the Commision as a corporate or partnership and is not authorized to solicit investments from the public.

It’s pretty obvious, even before the SEC warning that Onecash Trading is definitely a scam and should be avoided, no matter how promising returns look. If it’s too good to be true, especially in crypto, it usually is.