Cryptocurrency Exchange
Binance Option TradeFind BBB Accredited Businesses in Cryptocurrency Exchange.
About
This business has 1 alert
Important information
- Additional Info:BBB completed an investigation on the business after receiving a complaints from a consumer that referenced the business was in the Texarkana area for possibly running an illegal cryptocurrency cloud data mining service. Cloud mining allows you to mine cryptocurrencies like bitcoin without having to purchase the expensive hardware required to do so by allowing users to rent server space to mine for coins at a set rate.
This company has been verified to be a scam, victimizing people online with a fake cloud data mining service. The scam works by the scammer promising large returns but fails to disclose a range of hidden fees charged after the initial server rental. This allows the scammer to make the user pay more money to get out of the contract. The scammer also impersonated an International Monetary Fund representative trying to collect additional money to release the consumer's portfolio.
Cryptocurrencies are complicated, very confusing to new users and lightly regulated by state or federal agencies. Unlike money stored in a traditional bank account, which is insured against theft, digital assets such as cryptocurrency cannot be retrieved, and transactions cannot be reversed in the case of theft or cyber hacking. The FTC offers tips if you considering making any transactions with Bitcoin https://www.consumer.ftc.gov/articles/what-know-about-cryptocurrency
BBB warns consumers if they choose to use or invest in cryptocurrencies, use extreme caution. Be sure to do your homework first, to understand the rules and risks of cryptocurrency transactions. Cryptocurrency is now the second riskiest scam in 2019 BBB Risk Report shows 68.5% of people that reported a cryptocurrency scam lost money and 23.4% of individuals said they purchased cryptocurrency as an investment opportunity. To learn more about how cryptocurrency works, check out https://www.BBB.org/Crypto, a resource developed by BBB and FINRA
Business Details
- BBB File Opened:
- 6/18/2021
- Alternate Names:
- BINMAXOPTIONS
Additional Contact Information
- Principal Contacts
- Mr. Richard Fernances, Broker
- Customer Contacts
- Mr. Richard Fernances, Broker
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