Welcome to our Coinxap review regarding the website at coinxap.com.
Did they scam you? Share your story by commenting below, and we will provide you with personalized advice.
On November 14, 2023, one of our partners received the following complaint:
I invested $25,000, and when it was time to withdraw, the amount had increased to $133,256. Mysteriously and inexplicably, the funds did not transfer to the bank account I had specified on their website. Instead, it went to a bank where I hold no accounts. The customer service at CoinXap.com is absolutely terrible. I just want my money back.
So, is Coinxap.com really a SCAM?
Coinxap.com Review
Coinxap.com was registered through NameCheap on January 21, 2022, last updated on January 20, 2023, and is set to expire on January 21, 2024. It is protected by Withheld for Privacy and hosted by Wildcard UK.
It has just 6 backlinks from 5 referring domains.
CoinXap presents itself as a comprehensive platform for cryptocurrency mining and investment. It claims to integrate advanced technology with sustainability and user-friendliness, targeting both experienced investors and newcomers to the crypto world. The site boasts a significant customer base and offers a variety of services, including cryptocurrency mining operations, investment opportunities, and educational resources.
CoinXap asserts to have received multiple awards and accolades, such as the “Best Investment Broker” at TradeON Summit 2020 and “Best Execution Broker” at Trading EXPO Dubai 2019. They also claim over 17 years of excellence in the field, which is notable given the relatively recent emergence of cryptocurrencies.
Their investment plans range widely, from a starter plan with a minimum deposit of $500 to a VVIP plan requiring a minimum deposit of $50,000,000. These plans offer varying Returns on Investment (ROI), with some plans promising up to 125% ROI.
CoinXap offers educational resources to help users understand cryptocurrency mining and investment. This includes tutorials, guides, and market insights, aiming to simplify complex crypto concepts for users.
Get in touch with our affiliated Cryptocurrency Forensic Specialists at CNC Intelligence for free by filling out the form below.
The only contact detail provided is an email address (info@coinxap.com). For registration, users are required to provide personal information such as name, email, country, phone number, and create a password.
Red Flags Indicative of a Potential Scam
- Unrealistic Returns: The promise of high ROI, especially as high as 125%, is unusual and potentially unrealistic in the world of legitimate investments. Such high returns are often indicative of Ponzi schemes or other fraudulent activities.
- Lack of Detailed Company Information: The absence of specific details about the company’s registration, licensing, physical address, or the identities of key team members raises concerns. Legitimate companies typically provide transparent and verifiable information about their operations.
- Excessive Emphasis on Awards and Accolades: While awards can lend credibility, their overemphasis, especially without verifiable proof or links to the awarding bodies, can be a tactic to mislead potential investors.
- Limited Contact Options: Offering only an email address as a point of contact is unusual for a company claiming a large global presence and customer base. A lack of phone numbers, physical addresses, or real-time customer support channels is a red flag.
- Age of the Cryptocurrency Market vs. Company Claims: Claiming over 17 years of excellence seems implausible, given that the cryptocurrency market itself is not that old. Bitcoin, the first cryptocurrency, was created in 2009, which contradicts their timeline.
- Standard of Website Content: Grammatical errors and inconsistencies in the website content can indicate a lack of professionalism, which is not expected from a reputed financial institution.
- Vague Descriptions of Services and Operations: While the website describes various services, there’s a lack of specific detail on how these services operate, their regulatory compliance, or risk management strategies.
- High Minimum Investment Thresholds: Some of the investment plans require significantly high minimum deposits, which can be a tactic to secure large sums of money from individuals.
Coinxap Reviews
CoinXap, a platform focused on cryptocurrency mining and investment, has garnered attention online. However, its reputation is mixed. Scamadviser gives it a low trust score of 46/100, citing concerns like the owner’s identity being hidden and hosting on a server with other suspicious websites. Similarly, Scam Detector ranks it as 47.2/100, categorizing it as medium-risk and doubtful, with proximity to suspicious websites and potential threat profiles being notable issues.
CoinXap’s Twitter account (@coinxap) shows minimal activity and engagement. Established in January 2018, the account has no followers or posts, which is unusual for a company claiming significant industry presence and raises questions about its legitimacy and active engagement with the community.
An expired SSL certificate (issued by Sectigo Limited) was noted, which expired in January 2023. SSL certificates are crucial for website security, especially for platforms dealing with financial transactions and personal data. The expiration of such a certificate is a significant oversight for a business in the financial sector.
Webrate.org notes that CoinXap’s traffic is relatively low, contradicting claims of a large user base. The site’s hosting on a server shared with other suspicious sites, as per Scamadviser, could pose security risks to users.
The website promises empowering investment and mining opportunities in cryptocurrency, with a focus on inclusivity and economic independence. However, these claims are overshadowed by the concerns raised regarding its legitimacy and safety.
CoinXap presents itself as a cryptocurrency investment and mining platform but several red flags and concerns raised by online safety and reputation assessors suggest caution. The lack of social media engagement, expired SSL certificate, low trust scores, and hosting issues are significant concerns that potential users and investors should consider carefully.
Conclusion
Coinxap.com, a site proclaiming expertise in cryptocurrency investment and mining, presents a facade of technological sophistication and financial acumen. Its promises of high returns and advanced mining capabilities are enticing, yet our investigation has uncovered several disconcerting inconsistencies and potential deceptions.
The alleged high ROI, reaching up to 125%, alongside the claim of over 17 years of operational excellence, contradicts the relatively nascent nature of the cryptocurrency market. Furthermore, the lack of detailed company information, such as verifiable physical addresses or direct contact options, adds to the growing skepticism.
We also cannot overlook the grammatical errors and vague descriptions of services on their website, which undermine the professionalism expected from a reputable financial institution. Additionally, the high minimum investment thresholds raise concerns about their intent and the safety of potential investors’ funds.
Our review extends beyond the website itself, incorporating external sources and user experiences. Scamadviser and Scam Detector’s lukewarm trust scores reflect underlying uncertainties about Coinxap.com’s legitimacy. The minimal social media presence, particularly the inactivity on their Twitter account, contradicts their claims of a broad, engaged customer base.
The expired SSL certificate, a critical lapse in maintaining online security, further erodes confidence in their capability to protect user data and financial transactions. Moreover, the low traffic volume reported by Webrate.org starkly contrasts the site’s assertions of widespread usage and popularity.
Bottom Line
While Coinxap.com positions itself as a leader in the cryptocurrency investment and mining arena, the numerous red flags we’ve identified necessitate caution. Potential investors and users are advised to conduct thorough due diligence and approach any engagement with the platform with heightened awareness and skepticism.
For those who have already interacted with Coinxap.com and faced adverse experiences, we encourage you to share your stories. Your insights are invaluable in painting a clearer picture of the platform’s operations and in helping others navigate this complex domain.
If you have fallen victim to online scams, please comment below. If you have suffered a substantial financial loss, do not despair. We are here to assist you in recovering your funds!
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