There are millions of people whose source of livelihood is stealing from honest people. This is one of the reasons why there are hundreds of thousands of scam sites that are dedicated to fraud. One of these is Binttrade.com, a supposed cryptocurrency exchange that will likely cause you losses if you send your cryptocurrency there.
In this post, we shall examine Binttrade with the aim to determine that it is actually a packaged scam that wants to deceive a lot of people by posing as a cryptocurrency exchange.
What is Binttrade?
Binttrade is supposed to be a cryptocurrency exchange that supports several tokens and coins. The site claims that it enrolls thousands of investors who make thousands of transactions daily.
However, a background check shows that this is not true. More so, what we discovered about Binttrade is that it is more interested in creating a false sense of security among the visitors of the site in order to convince them that they are dealing with a reputable business. All these are in a bid to steal the customers’ money.
For instance, when you sign up on the website, they implore you to make sure that you’re on the right site just to give you the impression that they have integrity.
Why Scams Succeed
Scams such as Binttrade mostly succeed in stealing from some users because they’re aware that there are many people who do not conduct background checks on businesses and sites before signing up with them and sending them their funds.
This is especially so when scam sites promise instant profits or clone reputable sites. This is what Binttrade, knowing that there are many people who are interested in cryptocurrency investment despite the fact that they know little or nothing about it.
Why We Review Scams
It is our hope at Cryptoinfowatch, that people who want to invest in digital assets such as Bitcoin are not discouraged by the many malicious players who have invaded the cryptocurrency space. We also hope to help people learn as much as they can about these digital currencies and also invest in them safely.
Evidence That Binttrade is A Scam
An experienced person in the cryptocurrency space would know that they’re dealing with a scam if they encounter Binttrade because of the following:
A plagiarism test of the content of the website would easily show that they are copied from other sources.
Of course, you should know that no reputable company steals content from other sources. They should be able to draft their own vision and objective. What is placed on their site must be a unique representation of what the company stands for.
From the website and roadmap, the company claimed that they have been operating since 2017. However, a check on Whois shows that this is false. The domain pointing to the website was registered on August 9, 2021.
This means that the owner of this site misrepresented the fact to deceive the customers that the company has been operating for a long time. Of course their intention is to engender trust and steal the customers’ funds.
This may not be a strong point but it is necessary that you know the owners of the exchange or an investment site where you’re making a deposit. We all know the owners of Gemini, Binance and most of the other reputable sites that exchange our digital assets.
Well, as you’re aware, an exchange should give the users enough information and bearing on how to trade or use the site successfully. Exchanges are generally depositories of information. This is not the case with Binttrade.com. The reason is that the owners do not have your interest at heart. In fact, they’re in the business of causing you losses.
That should be all that you need to know to keep off from Binttrade and similar scam sites?
Tips To Avoid Losing Money To Scams
Never invest money in a site that you have not done serious background checks on. You can see some of the points that we raised. Is the site’s content plagiarized?
Have the owners made their identities known? Be aware that just posting names and pictures is not enough evidence that you know them. Fraudsters routinely steal the identities of others to perpetrate their scams. Running checks such as going through social media accounts and similar actions will help you determine if you’re dealing with a scam or a genuine business.
Also check reviews such as this about any company that wants to invest for you or even exchange your cryptocurrencies for you. It may be a simple thing sending your coins to a site, but getting it back may not be that easy if they’re managed by a fraudster.
Bear in mind that the entity behind a website could be overseas where your local law enforcement may not have jurisdiction to operate. Check review sites such as ours or even contact us to help you run background checks before parting with your funds. This is very important.
Binttrade is a confirmed scam site. Be sure that no one that you know sends their cryptocurrencies to this site. If they do, they have in reality lost their funds.
Now I suppose that you’re probably wondering if cryptocurrency investment is actually worth it considering the risks of losing your funds to fraudsters? Well… it sure is still worth it. You just have to know the right place to invest. There are many regulated and reputable cryptocurrency and blockchain businesses around and on the internet. With proper due diligence and research, you’d find them.
And you’d like to know what we recommend? Here is our recommendation if you’re searching for a site for crypto investment.