Binups.com has been identified as a risky opportunity by Intelligence Commissioner users. It is similar to Bloombergwex. We’ve received over 3 complaints against Binups.com.
Binups.com, which claims to be a legitimate cryptocurrency market but offers no real services. It dupes consumers into investing by promising free crypto gifts and bonus coupons, but then takes their money. Binups.com is illegal since it lacks government licensing and regulation. Victims have no way of getting aid. To avoid falling victim to these types of frauds, always verify a company’s regulatory status and license.
Get Your Money Back From These Scammers!
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Key Takeaways
Is Binups.com Regulated? Do They Have a License?
In the world of digital finance, which changes quickly, cryptocurrency platforms have become very important for dealing and storing digital assets. Because they are becoming more popular, though, there are also more scams that try to use them. One example is the website Binups.com, which has been found to be a fake cryptocurrency trading tool that uses a lot of tricks to catch investors off guard.
Binups.com is marketed as a legitimate cryptocurrency exchange that offers secure transactions and cheap commission fees. It’s only a facade; it doesn’t actually provide any services. This is a typical scam setup: people are duped into putting money that they cannot retrieve.
People are drawn to the platform by claims of free crypto gifts and bonus promo codes that don’t work. These kinds of deals are meant to get people to put money, which the owners of Binups.com have no plans to return.
The lack of regulation or the presence of poor regulation is a huge red flag. It means Binups.com is a scam and most likely, an illegal operation.
Companies offering investment services or opportunities without having a license can vanish without leaving a trace. Furthermore, the lack of a regulatory license allows them to get away with it and face no legal consequences.
That’s why it’s vital for you to always check a company’s regulation status as well as its license information. The presence of a license allows consumers to reach out to an authority if something goes wrong.
In the case of Binups.com, victims have nowhere to go due to the absence of a watchdog or license.
You should ask yourself the following questions when you come across a new investment firm or opportunity:
- Does the investment provider maintain transparency about its CEO?
- Do they have a license from a renowned regulatory authority?
- If the need arises, can I reach out to an authority to report this company as a scam?
Concerning Issues Present at Binups.com
Binups.com does not have any real contact information, regulatory licenses, or operating history that can be checked. Fraudulent operations often hide the names of their operators to avoid legal trouble, which is why they don’t give out such important information.
The domain for Binups.com was just created, and it uses services that hide the owners’ identities, which is a common way for scam sites to avoid being found and tracked.
A lot of people have heard about Binups.com through clever scams on different social media sites. This has reached a lot of people and made it more likely that they will become victims. Several sources have reported the site as a fake cryptocurrency exchange, adding to the growing number of cryptocurrency scams.
As the use of digital assets grows, so do the types of scams that happen with them and how often they happen. Before using any cryptocurrency service, people who want to invest need to be extra careful and do a lot of study. You can spot and stay away from fake platforms by looking for company information that can be checked, user reviews, and the platform’s standing with regulators.
However, it’s worth noting that many scammers disable their payment channels before shutting down their operations.
They might give you multiple reasons including:
- A technical error
- A glitch in their system
- Banking issues
- A “hacking attack”
And many others.
But in 9/10 cases, the scammers stop making payments and keep the money to themselves. Hence, the payment methods we discussed here might not work.
If you want to get your money back from a scammer, you’d need to file a chargeback.
Binups.com Customer Service: Do They Handle Complaints Well?
When it comes to scammers, you should only measure the quality of their customer service if they respond to your complaint.
In the beginning, scammers tend to remain very accessible.
This means their representatives will keep calling you until you invest with them. Furthermore, they will act friendly and make it seem as if you’re one of their most valuable consumers.
However, they do all this just to win your trust.
Scammers understand that to convince someone to give them a large sum, they will need to seem like a friend.
Nevertheless, when you have invested a considerable amount of money and need to get it back, their customer support will become inaccessible.
All of a sudden, their numbers would either stop responding or become unavailable.
Still, they might remain accessible to convince you to invest further. Also, they might begin by making a few excuses regarding your payment.
However, in the end, customer support won’t resolve your issues and become increasingly unavailable.
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Binups.com Reviews: What Do Others Say?
It’s worth noting that many scammers tend to purchase fake reviews. Buying fake reviews has become extremely easy and it’s a multi-million dollar industry.
Scammers like Binups.com tend to purchase fake reviews for their online profiles to make themselves seem more credible.
TIME Magazine investigated the fake review industry and estimated it to be worth more than $150 million. Certainly, there are a ton of scammers who want to seem legitimate and a bunch of fake reviews is the most effective way to do so.
That’s why you shouldn’t trust Binups.com reviews easily.
It’s easy to identify fake reviews as well. You should look out for 5-star reviews posted by temporary accounts (profiles that only posted 1 or 2 reviews on the platform). Also, you should see if the positive reviews share any detailed information about their experience with the firm or not.
In the case of Binups.com, chances are, you wouldn’t find many legitimate reviews.
Another prominent way scammers like Binups.com enhance their credibility is by burying negative reviews and complaints under a lot of fake reviews.
This way, when you’ll look up “Binups.com reviews”, you might not find many complaints. Or, you might find them buried within numerous reviews praising Binups.com.
You should always look out for consumer complaints. In the case of Binups.com, the most common complaints I found were about:
- Poor customer support
- Delays in payments
- High fees
- Lack of transparency regarding their leadership team
- Aggressive sales staff
Do you have a similar complaint about Binups.com? You can share your complaint in the comment section or submit an anonymous tip.
Is Binups.com Legit Or a Scam?
Binups.com’s story should serve as a warning about the risks that come with investing in cryptocurrencies. It shows buyers how important it is to be aware of scams like this and do their research to protect themselves.
The digital finance industry needs to keep growing so that genuine investors are protected from scams like these. This can only be done through education and strict rules.
Binups.com is an unregulated entity. Although they might fall under the jurisdiction of a watchdog, they don’t have the license to offer financial services to consumers.
The lack of a license means they are not answerable to any regulatory authority. As a result, the people behind Binups.com can run away with your money without any prior notice. It would help if you were extremely cautious when dealing with an unregulated service provider.
The absence of a watchdog also means you cannot report to them to anyone.
Also, due to the absence of specific regulations, there is no provision protecting you from the insolvency of this entity. If they go bankrupt, you won’t be able to do anything about it.
Can You Trust Binups.com?
All the evidence suggests that Binups.com is a scam. If you have lost money to them, there is still a chance you can get it back.
To recover your funds, you’d need to file a chargeback.
Frequently Asked Questions
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How The Binups.com Online Scam Works
Intelligence Commissioner investigates & reviews online money-making opportunities. We strive to provide critically helpful information to our readers and assist them in identifying scams. 
