Have you looked at Coinvats.com? Want to invest there? Hold on. You should know why it might not be safe before you decide. This information is to help you make a good choice. Please read it all and make up your own mind.
Coinvats.com Crypto: In brief
Coinvats.com is a crypto investment platform promising to provide traders/ clients ways to trade cryptocurrencies and earn money.
They claim to offer traders with different cryptocurrencies and digital assets, and receive a percent on their investment. What’s more, they make claim of giving clients good market insights, portfolio monitoring and incentive for a new member through their referral program.
Understanding Coinvats.com Crypto Scam Practice
To begin with, tricksters use advanced video editing tools powered by artificial intelligence to create fake videos called deep-fakes. These videos make it look like famous people such as Cristiano Ronaldo, Elon Musk, Bill Gates, Mark Zuckerberg, or Drake are promoting Bitcoin giveaways and the Coinvats platform.
More so, traders have had it tough with Coinvats.com live crypto investment as they are not allowed to withdraw funds. The usual tactic is that they claim traders must have a required deposit of $200 plus before withdrawal would be processed.
Also, users have been fooled by the instant account upgrade in BTC prizes. Here, you are made to input the promo code giving after the registration which is all scam using to lure more victims.
In addition, many traders have been fooled by the instant account upgrade in BTC prizes. Here, you are made to input the promo code giving after the registration which is all scam using to lure more victims.
What’s more, the platform does not offer money back guarantee which means trading on the platform is clearly a risk as your money cannot be refunded.
Following this, Coinvats.com is not different from Bitxeen.com crypto investment scam. Because of the scam practice, many traders of the platform have had their accounts blocked or most times access denied.
NB: It is always advisable you check for regulated and licensed entity on financial authorities websites before depositing fund for trading.
Won’t you rather trade with a licensed and legit broker? Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK, ASIC in Australia, NBRB in Belarus, CySEC in Cyprus as well as IIROC in Canada which makes client funds safe. They accept traders worldwide…visit their official website
Protect Yourself from Coinvats.com Scam
A troubling part of this trickery is that when officials close down fake websites such as Coinvats.com, the scammers just move to different web addresses and carry on with their illegal activities.
The websites use names and logos that look similar to real companies, which makes it tough for new investors to tell if they’re fake.
After being tricked into sending money as a deposit, people discover that their accounts are blocked and their money is stolen by unknown scammers. These scammers then start again with new names and keep on cheating people in the same way.
Coinvats.com Is a Non-Licensed Company
Like in any corporation, integrity is a key to uphold these days. It doesn’t matter if you make a lot of money but you can’t take it out. That is to say, exactly what is happening with non-licensed companies.
Having said that, it is not far from believing that Coinvats.com is not a licensed investment company. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
COMPARE WITH A TRUSTED BROKER
Fortrade
Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website
Verdict:
Coinvats.com has disguised like Xenorax.com trading investment platform, however, you should not take the words they say and the attractive website layout. While there is a clear evidence this cryptocurrencies company is questionable, it is always important traders steer clear from an unlicensed and sham platform as its likely run by scammers.
It’s also crucial to educate yourself about potential scams and only engage with legitimate cryptocurrency trading platforms.
Coinvats Bitcoin Promo Code Scam: Frequently Asked Questions
What famous personalities are often mimicked in the fraudulent videos?
The fraudsters choose these famous personalities due to their widespread popularity and public confidence, creating a false sense of legitimacy for the fraudulent Bitcoin giveaway. The celebrities’ renown heightens the chances of victims being deceived by the scheme.
What occurs when individuals utilize the Coinvats promo code?
Following enticement through counterfeit celebrity endorsements, individuals are directed to Coinvats.com where they input a designated promo code like “CR7” or “Tiktok11” upon signing up.
Inputting these codes falsely credits approximately 0.31 BTC into the user’s Coinvats.com dashboard, creating the illusion that the promo code has successfully awarded them free Bitcoin.
However, in truth, no genuine Bitcoin is transferred. The displayed balance is entirely fictitious, serving only to deceive the victims without any actual trading taking place.
What To Do If You Fall Victim to This Scam
Report Coinvats.com and any associated promo videos to the appropriate authorities.
If you bought bitcoin that turned out to be stolen with your credit card, tell your bank right away about the problem. They might be able to reverse the charge through a process called a chargeback. If you got the bitcoin from a cryptocurrency exchange and it’s a scam, let the exchange know immediately. They might be able to stop any more money from leaving your account.
Scammers might use the information you gave on Coinvats.com to hack into your other accounts. So, it’s crucial to change your passwords on any other sites where you’ve used the same username and password. Also, it’s a good idea to turn on two-factor authentication for added security on important logins.
Sometimes, after people have been tricked out of their money, there are others who try to trick them again by promising to get the money back for a fee. Don’t fall for these tricks.
Juliet