Caution! Shynicoin is an offshore company! Your funds may be at risk.
Shynicoin Key Features
🔴 Shynicoin services are questionable – a warning sign!
🔴 Shynicoin was reported as a scam – a red flag!
🔴 Shynicoin is not transparent – a red flag!
🔴 Shynicoin creates unreasonable expectations – a red flag!
Shynicoin Products and Services
Shynicoin is yet the next crypto creature claiming to be the world’s leading digital asset trading platform. They obviously create a false sense of security because Shynicoin is actually totally anonymous and highly unpopular – such an entity can’t be a leader in anything. Well, it may qualify for a leader in shadiness, but that’s also hard to prove!
But anyway, the problem with such anonymous crypto exchanges is that most of these are scams. You’ll register, and then you’ll seemingly buy some crypto, but the deal would be fictitious. After that, you won’t be able to do anything with the “acquired” coins – no withdrawals, no transfers, no exchange for dollars and so forth. You’ll have the coins in your so-called wallet, and the amount seen will be just a useless piece of information. And then, sooner or later, the website will close down – it happens with the majority of shady exchanges like Shynicoin. That’s why it’s always recommended to trust your money with proven exchanges; more so, cryptos are risky anyway, so you certainly don’t want to get scammed before you’ve tasted the risk of owning crypto for real! Beware; Shynicoin is highly suspicious!
Cryptos went to become extremely popular, and they come with tremendous profit potential, but the assets are pretty complex and a bit enigmatic for the vast majority of people. Bitcoin is still surging, and the entire crypto market is growing exponentially, but all investments carry significant risks, such as high unpredictable volatility and absence of regulation, for example. And we’d also like to emphasize the fraud risk- crypto scams are virtually everywhere. In fact, the latest trend among scammers is to create fraudulent websites offering fictitious crypto investments and mining services aimed to entice unsuspicious investors into scam settings. The fraudulent offers usually stick to the rule “sounds too good to be true”, the entity offering the services is totally anonymous, and there is no regulation whatsoever. So, based on the products and services offered alone, we can affirm that the entity under review is dangerous. You’d better avoid it.
That said, it’s worth considering trendy cryptocurrency alternatives that have already proven to be reliable. For example, many cryptocurrency exchanges like Coinbase and Bitstamp already provide passive income opportunities like BTC and ETH staking, other earning opportunities, affiliate programs, so on and so forth. Both mentioned are law-abiding financial firms that operate transparently, so you won’t be exposed to fraud risks if you trust them.
Shynicoin Company and Regulation
Shynicoin can’t in any way prove it’s a legal business. In fact, the whole scheme is just a simple website we’ve seen many times before – apparently, one can buy the template and start pretending to offer crypto services right away. But anyway, that’s just speculation on our side! What we can prove, though, is that Shynicoin isn’t associated with registered companies, so the scheme is unregulated and most probably illegal. Still, it could be a brand of an undetectable international company created offshore or elsewhere, but that wouldn’t change anything whatsoever – Shynicoin is shady and unregulated!
So, the crypto service under review isn’t a typical firm, and as such, it’s not regulated. The absence of regulation implies that your investments will be at risk if you deposit. Moreover, you won’t have access to complaint procedures or money protection schemes, so if things go wrong, you’ll be the one to suffer the complete loss. Even more so, the digital coin transactions are anonymous, so if you get scammed by a shady crypto provider, you can’t get your money back.
Indeed, cryptocurrency regulation has been a hot topic for a long time. The digital coins themselves are not issued or governed by central banks, but too many countries already have plans to introduce centralized cryptocurrencies. Still, Bitcoin is a peer-to-peer payment system that’s considered too risky for many. However, many crypto firms are now operating with financial licenses; they are transparent, and their clients can benefit from certain customer protection measures if things go wrong. And that doesn’t apply to the entity under review, which is an anonymous and most probably totally illegal enterprise that can switch off its servers, pocket clients’ money and get away with the crime.
Shynicoin Address and Contacts
Shynicoin provides no addresses or phone numbers, which isn’t uncommon for crypto businesses. However, the transparent ones reveal a lot more about themselves, provide means for communication, and quite often present the team standing behind the project. Well, Shynicoin does none of it – there is only a Google mail available, which doesn’t really speak well for the business. No trustworthy exchange will use Gmail! On the other hand, there is a chat available, but no one answers once you write to them, and in order to start the chat, you need to register. So, the apparent lack of transparency is alarming, and it indeed triggers a major red flag!
Considering investment opportunities, transparency is always crucial. As for cryptos, you already know that Bitcoin is a peer-to-peer payment system, which is designed to protect the privacy and to provide security. However, that doesn’t mean that the crypto providers should also be anonymous. After all, these people will handle your money, so you should at least know who they are and where they operate from. In fact, we need to note that some trustworthy exchanges don’t reveal such information on their websites, but it’s still easy to verify that businesses are legal, law-abiding companies; therefore, it’s always a worrying sign if the crypto provider isn’t transparent.
Shynicoin.com Website Info
|SimilarWeb Ranking||13,359,856 at the time of writing|
|WHOIS Reg. Date||2022-02-12|
|Owner||Redacted for Privacy|
|Administrator||Redacted for Privacy|
Is Shynicoin Safe?
Shynicoin is not safe! It’s an anonymous and highly unpopular crypto exchange, and given the red flags exposed, we can’t recommend it to anyone. We confirm that your funds will be in danger if you deposit, and you’d better avoid it!
Scammers are always riding the trends, so it’s not at the least surprising that cryptocurrency fraud is now blooming. Even more so, the high-tech nature of Bitcoin actually facilitates scams as most people don’t really know how crypto works, so scammers take advantage of the lack of understanding. Indeed, the crypto scam has been here for a while, and it proved to be extremely dangerous- just recall OneCoin, which happened to be a multi-billion Ponzi scheme disguised as a revolutionary digital currency. However, scammers rarely go out of their comfort zone, so most crypto scams happen to be very similar to the typical investment fraud.
The fraudulent crypto schemes are also anonymous and illegal, while scammers introduce themselves with fake identities. There are also too many impersonators resembling the websites of valid start-up companies from where customers get redirected to other insecure fishy payment portals that may as well carry additional security risks. The cons yet again promise the moon and the stars to their victims but won’t deliver a thing in the end. However, the difference between crypto and the rest of the investment scams is that people are more likely to believe that they can become rich overnight as Bitcoin has already proved to have massive profit potential. In any case, you should be very cautious when it comes to crypto, as the markets are plagued by scammers ready to take advantage of you.