In today’s article, we’ll give answers to all questions about CALA (bocalazer.com), which includes: CALA owner, how does CALA work, CALA Login, CALA official website, when was CALA launched, CALA app or apk, is CALA legit or scam, and more.
There are so may online platforms that claim to give you some sort of returns when you invest a particular amount. Some of these platforms are legit, some only pay for a while before folding up while some others are just pure scam.
It is smart to read reviews about a platform, so you can know if the platform is paying its members as promised or if it is a complete waste of your money and time.
DISCLAIMER: We #ms-legit.com.ng are not in any way affiliated with CALA, hence this review is based on honesty and broad insight.
What is CALA ?
CALA is a technology company specializing in research and development of AI technology with its base in Armonk, New York, USA.
According to its website “CALA claims they are based in Armonk, New York, but they do not supply an address to back it up. As to their claim that they were incorporated in 2019, a perusal of their website turned up an FinCEN/MSB registration, a certificate of good standing from the state of Colorado in the USA and a business name registration from the corporate affairs commission Nigeria. It is worthy to note that all three documents show dates in the year 2022, see below.
How does CALA work?
The BTC/USDT transaction at Binance and Gate remains price differences. In case you buy BTC at Gate, then send it to Binance and sell it immediately, you can get more USDT thanks to arbitrage, then you send USDT from Binance to Gate and buy BTC. This cycle continues repeatedly, earning profits from price differences.
To reiterate, CALA claims their robots can automatically search and trade between exchanges. The first obvious question to ask is which exchanges? Exchanges are not like your local market where you just walk in and buy from any seller. First, you must have an account and to do a trade your account must be funded. Note that CALA nowhere explicitly says which exchanges their bots trade on, what we have in the screenshot above is prefaced with “For example” meaning they are giving a scenario, it does not mean their bots trade on Binance or Gate. The standard practice as seen in the industry by those who supply bot services such as Coinrule is to list the exchanges their bot will be trading. Then you will have to open an account on that exchange and get an API key to put into the Coinrule bot so that it can be activated to perform automated actions on your behalf on that exchange. You can read about the process here. Is this how it works with the CALA bots? On the CALA platform we did not find anywhere to input API keys for exchanges, what we found were six categories of bots for sale.
The first bot, Robot 0, is free while Robot 1 to 5 requires payment for it to be deployed.
Clicking on the button “Pay 0.00” deploys Robot No. 0
After 21 minutes of being active, Robot 0 reports that it has made a profit of 0.002756 USDT.
How was Robot 0 able to make such profit in just 21 minutes? We ask this because of the nature of crypto arbitrage which comes with several challenges. Most exchanges charge fees on trades, deposit and/or withdrawal which would reduce profit margin, coupled with the high volatility of cryptocurrency pricing which can change quickly, it all seems too good to be true. Notice that we were never asked to input API keys for any exchange which makes it highly probable that CALA’s claim of doing arbitrage is not true.
Moving on, notice in the screenshot of our profile above, we were given an invitation code, this can be shared as a link, so anyone who signs up using the link will be a downline.
Once the person you referred makes a purchase (pays for a robot) you get a robot as a gift based on the amount the person paid.
This has all the features of a pyramid scheme. A question to ask at this point is if the profits being posted by these Robots are true, what is stopping CALA from running them and making a huge profit? They can deploy all these bots on their own infrastructure and make a lot of money, so why ask people to pay for them and ask them to refer others who will pay? If you had bots that would consistently give you profits, would you sell them off?
Putting it all together, CALA claims it was incorporated in 2019, but the available evidence points out otherwise, its owners are unknown, there is no evidence that it does arbitrage, and it has a pyramid component. We recommend that you avoid this platform.
Who is the Owner or Founder of CALA ?
Knowing the owner or management team of a company can help you judge if they have the capability to effectively run such an outfit. There is no information as to the owner(s) or management team of CALA on their website. This is another huge red flag.
When was CALA launched ?
This is another important thing you should know before joining a platform. PowerPoint document on its website claims CALA was incorporated in 2019.
Is CALA legit or scam?
Does this mean that CALA is legitimate? To answer this question, we must first consider how one obtains this certificate and what are the regulatory requirements, if any. Visiting the SCUML website, we can see the requirements for several types of businesses. For CONSULTING COMPANIES under BUSINESS NAME (CALA’s category), these are the requirements:
- Certificate of Incorporation
- Form BN-01 (Proprietor’s Particulars)
- Tax Identification Number (TIN)
- BVN, Bank Name and Account Number
- Relevant Consulting certificate
Once these are provided, a company can be registered. Notice that the above-listed documents are not hard to obtain. As such, any company can get registered for SCUML and display the certificate. Hence, having this certificate is no proof that CALA is legitimate.
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