Caution! This is an offshore company! Your funds may be at risk.
BTCMiningBase.com Key Facts
🔴 BTCMiningBase.com offers dubious products and services. A scam sign!
🔴 BTCMiningBase.com doesn’t present critical information about their business. Red flag!
🔴 BTCMiningBase.com is not authorized to offer financial services. Red flag!
🔴 BTCMiningBase.com is an unpopular domain. A disturbing sign!
BTCMiningBase.com products and services
BTCMiningBase.com offers investment services and token sale. They offer daily and monthly investment returns but they don’t specify interests rates or potential profits. Anyway, fixed-income products on cryptocurrency investments are utterly risky and most of the providers are fraudulent. The digital coins are highly volatile and it’s impossible to guarantee consistent gains.
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.
BTCMiningBase.com company and regulation
BTCMiningBase.com is purportedly a website run by BTC Mining Base, bitcoin and cryptocurrency mining company. Our research showed there is no such company in existence, so it’s an illegal investment provider. The website is not linked to companies holding a license to provide financial services, which confirms it’s a sham business and most probably a scam. Read on to find out why we advise traders and investors to trust regulated companies only.
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.
BTCMiningBase.com address and contacts
BTCMiningBase.com doesn’t reveal their address, showing a lack of transparency. Their contact number is +1 (240) 245 8363, a US phone clear of spam reports. It doesn’t make any sense using such a number unless they want to remain anonymous and hard to trace.
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.
BTCMiningBase.com website info
BTCMiningBase.com is a domain name registered on 08th of September 2019, so it’s almost 1.5 years old at the time of writing.
It’s registered on Netherlands IP address: 188.8.131.52 co-hosting 75 websites at the time of writing. Most of the domains are linked to companies offering investment schemes.
Alexa doesn’t even rank this domain, so it’s a highly unpopular website people do not trust, regardless of the age. The Alexa ranking isn’t a key determinant, but the lack of popularity definitely isn’t a good sign, especially when they’ve been online for a year and a half.
Here are other shady investment schemes based on the same IP:
|FX Cloud Vest|
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.