Beware! BitcoinEAZ is an offshore broker! Your investment may be at risk.
BitcoinEAZ Key Facts
🔴 BitcoinEAZ sells suspicious products and services. A scam sign!
🔴 BitcoinEAZ doesn't operate transparently. Red flag!
🔴 BitcoinEAZ has no license to offer financial services. Red flag!
🔴 BitcoinEAZ is a young domain. A disturbing sign!
BitcoinEAZ products and services
BitcoinEAZ is allegedly a Bitcoin exchange, which also offers investment services. Their starter plan is said to bring a 50% profit, but they don't specify a time frame. It's a disturbing sign whatsoever because such promises sound too good to be true. No legit business can offer a fixed 50% rate of return.
People should always be cautious when dealing with businesses offering enormously high yields because it's scammers' trait to promise big and create unrealistic expectations. In reality, regulated financial companies cannot secure more than a few percents annually with their fixed-income products. There is a huge discrepancy between these offers and the regulated companies standards. Judging by the products and services they sell, we suspect it's a scam, so beware.
BitcoinEAZ company and regulation
Bitcoineaz.com is the website of a company called BitcoinEAZ. They claim to have a market cap of 198.76 billion USD, which sounds ridiculous. At this point, we exposed it as a scam because there isn't even such a company in existence, let alone having such an enormous market cap. We urge traders and investors always to make sure they are dealing with licensed and regulated companies. Read on to understand why it's unsafe to trade and invest with anonymous business creatures like this one.
The US financial services regulation is very complex in the USA. Derivatives markets regulation is a responsibility of CFTC and NFA. Forex brokers and most of the investments companies have to be NFA members and CFTC registered to operate in the USA. On the other hand, securities markets are controlled by the SEC, a government independent agency responsible to maintain the integrity of the financial markets.
While SEC focuses more on the procedure regulation insisting on financial reports and management discussion and analysis, NFA and CFTC impose pretty straightforward requirements. To become authorised the companies have to provide 20 million USD in paid-up capital, which is considered a guarantee that the businesses can survive in turbulent times and pay whenever they have to.
Other customer protection measures include clients’ accounts segregation and leverage restrictions for forex brokers- 1:50. Also, CFTC brokers’ clients are not allowed hedging, which is one of the very unique US features. Unfortunately, the cryptocurrencies regulation is still inept, so traders and investors should be wary when dealing with crypto offers.
BitcoinEAZ address and contacts
BitcoinEAZ lists London, UK as a headquarter address. No street, no number, no postcode provided. However, that's not to be unexpected. We've already exposed this business as a scam, so nothing new. Scammers don't operate transparently, and it's their top priority to remain anonymous and impossible to catch. Their contact number is +44 7418 329341, a UK phone clear of spam reports.
Transparency is crucial when talking about brokers and investment companies, and it's part of the regulatory framework. The regulated companies are open to financial authorities following certain transparency rules, so it's generally unlikely to conduct fraudulent activities. They are also bound to provide the public with crucial information about themselves, making it easy for traders and investors to confirm the company's legitimacy.
Bitcoineaz.com website info
Bitcoineaz.com is a domain name registered on 24th of September 2019, so it's more than a year and a half old at the time of writing. It's registered on Netherlands IP address: 185.237.147.231 co-hosting 75 websites at the time of writing. Most of the domains are linked with investment schemes.
Alexa doesn't even rank them, so it’s a highly unpopular website people do not trust. The Alexa ranking isn’t a key determinant, but the lack of popularity isn’t a good sign whatsoever. Plus it's a website that's been online for quite some time, making things even worse for them.
Bitcoineaz.com uses privacy protection services to hide the ownership of the website. The latest trend in the privacy policy around the world denies it should be a problem but considering it's an investment service we might as well consider this a disturbing sign.
Here are other shady investment schemes based on the same IP:
Scam warning
We paid utmost attention to the regulation and transparency in the sections above because it’s mandatory for trading and investments. Pretty much each company offering financial services have to be authorised by the local financial authority.
However, some entities operate unlicensed and intentionally run investment fraud. It would be best if you only dealt with companies authorised by the regulators, so always check to make sure they are. Bear in mind that if you trade with unauthorised businesses, you won’t be protected, so it’s very likely to suffer losses almost impossible to recover if things go wrong.
Online scam is trending nowadays with fraudulent websites popping up literally every day. The financial authorities increase the number of warnings issued year after year, but the dangers are still out there and growing exponentially. You’ll realise the hazards when you consider OneCoin scam- it’s still impossible to calculate the total loss, but it’s regarded as 15 billion worth fraud. Make sure to trade with licensed and regulated companies to avoid off-putting losses.