Caution! BakedBeans.io is an offshore company! Your funds may be at risk.
BakedBeans.io Key Features
🔴 BakedBeans.io’s services are questionable – a warning sign!
🔴 BakedBeans.io isn’t licensed – a red flag!
🔴 BakedBeans.io isn’t transparent – a red flag!
🔴 BakedBeans.io creates unrealistic expectations – a red flag!
BakedBeans.io Products and Services
BakedBeans.io is a crypto HYIP offering unthinkable returns if you invest your BNB coins. As seen from the screenshot above, they promise 8% per day, which will eventually amount to 2920% per year, which is profitability that’s simply impossible, notwithstanding that crypto is allegedly invested! Cryptocurrencies are known to be highly volatile and with huge profit potential, but talking about almost 3000% per year guaranteed profits is ridiculous. After all, the offering is similar to a fixed-income investment, and we can confirm that no such rates are possible! HYIPs are dangerous and knowing that, you’d better remain cautious with BakedBeans.io.
HYIPs are unregulated investment schemes offering questionable opportunities, to put it mildly. The promised ROI (Return in Investment) is just too good to consider trustworthy- at times, customers are reassured that they can make 100% or more per day, which can’t happen in any possible way. To put it into perspective, even the largest investment funds can’t secure more than 10% per year, let alone per day or week. So, given the products and services offered, we can decisively say that the service reviewed is highly suspicious and most likely fraudulent.
With that being said, you’d better stay away and have a look at other reliable opportunities, such as Forex brokers PAMM managed accounts, social trading platforms or regulated crypto providers. For example, many crypto exchanges are presently offering BTC and ETH staking that can bring a decent passive income on reduced investment risk. But in any case, make sure to trust your money to transparent and adequately regulated financial companies because markets are currently plagued by anonymous investment schemes, most of which are pure scams.
BakedBeans.io Company and Regulation
BakedBeans.io shares no corporate information, and given the fact that cryptos are accepted for deposits, we strongly suspect it’s totally illegal. In fact, the entire BakedBeans.io website is extremely simple – the screenshot above shows all of it! Nevertheless, we should elaborate here. What BakedBeans.io offers is crypto staking or mining, and by far, such activities are not regulated by authorities simply because cryptocurrencies are not centralised and the transfers cannot be traced. Cryptocurrency wallets and accounts can be monitored, however, but that doesn’t mean that transactions can be stopped or influenced in any way. That said, we’d like to inform you that many crypto staking pools are working unregulated, and it doesn’t mean all are untrustworthy – there are good ones. However, staking your crypto in an unregulated exchange or a pool carries risk because someone can easily pocket your coins and disappear, facing no consequences for their actions.
So, those things out of the way, we confirm that BakedBeans.io’s investment opportunity is unregulated and risky – a good reason alone to be sceptical. More so, they promise almost 3000% earnings per year, which indeed strongly suggest a scam!
The lack of regulation implies that the people operating the scheme are not supervised while working, meaning that clients’ money will always be exposed to risks. To put things into perspective, duly licensed and adequately regulated financial firms are forced by the authorities to comply with many standards designed to guarantee customers’ safety. For instance, to obtain a license, a company must meet minimum capital requirements that vary by country and depend on product specification or other factors. The condition is set to guarantee that firms should have enough money at their disposal to survive unforeseen events, remain stable and continue operations, inflicting no harm to customers.
The US minimum capital requirement is 20 million USD, which is actually one of the biggest among all. In addition, US financial firms should also keep customers’ accounts segregated, ensuring that deposits won’t be misused or misappropriated. However, we should note that the US regulatory framework is quite complex as there isn’t a single financial authority, but many. The list includes NFA, CFTC and SEC, to name a few, and each of the mentioned control companies in one way or another. Additionally, each state usually has its own independent authority, making the US market significantly more complex than others. Regardless, the scheme reviewed isn’t regulated by any authority anywhere in the world, so make sure to avoid it as it may as well be a pure scam.
BakedBeans.io Address and Contacts
BakedBeans.io reveals no contact information. They have a Telegram channel, but that doesn’t make them transparent – the people running the project are still unknown, and we can’t say what’s their location. And with that being the case, a major red flag appears because of the lack of transparency – an issue that always suggests a scam!
Transparency is essential when it comes to investing because you should always know who is making the investment in your name and where your money really is. Legit businesses always operate transparently and are required by law to provide the public with their basic corporate information – addresses, phone numbers, e-mails, legal documentation outlining service provisions and so forth. It’s very likely that you are dealing with scammers if you cannot independently verify the contact information given, and it’s even a more treacherous sign if you come across an entity that doesn’t even provide these crucial details!
BakedBeans.io Website Info
|SimilarWeb Ranking||129,468 at the time of writing|
|WHOIS Reg. Date||2021-10-18|
|Owner||Redacted for Privacy|
|Administrator||Redacted for Privacy|
Is BakedBeans.io Safe?
BakedBeans.io is not safe! It’s an anonymous crypto scheme offering unregulated investment services. Or, put simply, your funds will be at risk if you deposit with BakedBeans.io! You’d better avoid it – 3000$ yearly profit guaranteed doesn’t seem like a trustworthy offer – it’s too good to be true!
For various reasons, depositing with HYIPs and other unregulated investment schemes is highly not recommended. Above all, the lack of regulation strongly suggests a scam, as only regulated firms can offer investment services to the public. As you might expect, scams cannot thrive in a robust regulatory environment, where numerous customer protection rules are imposed, all of which are designed to make markets safer by actively preventing fraud.
Authorisation by regulators is only granted if the firm meets the standards governing how the entities should treat you as a customer and what kind of information they should provide. Each country’s regulator keeps a register of licensed firms and the products and services each licensee is permitted to offer. Unauthorised firms, on the other hand, seek to avoid the controls that legal, authorised entities are subject to, thus leaving investors unprotected. Scammers, of course, want customers to be completely unprotected, which significantly facilitates fraud, and that’s why they always work without a license.
The HYIPs, in particular, are usually operated as a Ponzi because many investors can withdraw initially, but sooner or later, the service will inevitably close. HYIPs usually target traders and investors with little or no experience by promising fictitious investment opportunities, allegedly delivering unrealistically lucrative gains. 10% or 100% per day certainly isn’t a legit offer – that’s a scam, and you’d better stay far away from entities promising get-rich-quick schemes.