CoinsBanking Review: Are Funds Safe with coinsbanking.com?

Whatever you do, avoid investing with CoinsBanking. The platform has seen several complaints lodged against them. Coinsbanking.com fails to offer any meaningful crypto investment services. And this means investors are now losing funds and patience with the platform. With continuous withdrawal delays, the platform is bound to exit soon. We hope that authorities will act fast and shut the platform down. Here’s our comprehensive COINSBANKING REVIEW.

About CoinsBanking

According to the about us page, Coinsbanking is founded on three strong pillars. These include state-of-the-art technology, commitment, and trading knowledge. So, when you go over the about us page, you get to see a serious crypto investment platform.

Coinbanking.com is not what it seems. Using your eyes only, the platform will easily deceive you. There are hundreds of investors who have lost funds with the platform. We have to Coins Banking and ensure no one else falls for it.

The problem mainly lies in the platform’s inability to release funds. Imagine depositing funds and failing to withdraw even after making a profit. But, unfortunately, it’s what most members are going through on the platform.

These are offshore-based platforms that mainly target European crypto investors. With Crypto being a vast market, everyone wants a piece of it. And that’s why hundreds of crypto investment platforms have popped up.

Discerning the right crypto platform to use might be a problem. It would be best if you did due diligence first before engaging with any platform. That way, you will be more than ready to invest in a proven platform.

There are red flags found on the coinbanking.com platform. Unfortunately, these are the red flags naïve investors might miss. We are here to ensure that you avoid these red flags in any crypto investment platform.

Accounts CoinsBanking

Coins Banking offers three account types, and include Silver, Gold, and Platinum. Most of the accounts share the same features, such as having an expert analyst on your team. However, we do question the skill levels of these experts.

Here’s a closer look at Coins Banking accounts;

Silver

It’s the most basic account, with investors having to deposit $250 to start trading. We are happy that the platform accepts the industry required amount. In addition, you get two trading signals and a free educational session.

Gold

For the gold account holder, investors must deposit $500 to get started. There’s a 30 percent welcome bonus with this account. You get four trading signals and two free educational sessions. There’s also an analyst to help you make better calls.

Platinum

It’s the most exclusive account, with investors having to deposit $1,000 to get started. Members get a 40 percent trading bonus with each deposit. In addition, you get eight trading signals and three free educational sessions.

Assets and Trading instruments (Crypto)

Cryptocurrency is the center of attraction on the platform. The platform offers crypto CFDs using leading pairs. You get to trade over 40 cryptos on the platform. Leading cryptos include Bitcoin, Ethereum, Litecoin, and Ripple.

Sadly for clients, the platform fails to give meaningful information on the asset. We mean you won’t get to know the leverage available on the platform. After posing as members, we suspect the platform is changing leverage without informing clients.

You should be aware of the acceptable leverage on financial trading instruments. Depending on your jurisdiction, the maximum leverage shouldn’t exceed 1:100 in Europe. In the United States, the maximum leverage is set at 1:50 for retail traders.

With the 24/7 market availability, it’s best to choose this market. We recommend crypto investment and trading. You only need to find the right platform for this to happen. Any crypto investing with coins banking will end up with losses.

Available welcome bonus

To ensure the platform gets a hold of investors, the platform avails a welcome bonus. For the naïve investor, this is a perfect opportunity to get funds. But, unfortunately, the truth is, the platform uses bonuses s bait.

With a promise of providing a bonus with each deposit, you won’t get to withdraw funds. Regulators are warning investors of platforms that offer bonuses. Such platforms will insist on members paying back the bonus before releasing funds.

Even if you pay the whole amount, the platform will still block access to your funds. It’s their way of knowing that the user wants out. And this is why you need to stay away from the platform.

Business owner

Coinswitch Ltd is the entity we are told owns and runs the website. The entity is registered in the Dominican Republic. It’s an offshore-based platform whose owners remain at large. There are no public records of the company’s owners.

And this means CoinsBanking is an anonymous and offshore crypto investment platform. These are two features you need to avoid. Any crypto investment platform without valid ownership details is a high-risk option.

Client Testimony

After checking with independent review sites on the platform, we found disturbing comments. It seems investors have been trying to expose the platform all along. When you head over to the Trustpilot page, you get to see compelling stories.

These are accounts from the victims themselves. Once you deposit funds from the platform, it’s clear that it’s the last you will hear from them. After that, the platform transfers your Crypto to another wallet.

CoinsBanking License and Regulation

Coins Banking is not a regulated platform and does not have any documents to prove it. Even with their company registration claims, there’s no certificate of incorporation. It means we are dealing with an unregulated platform.

The problem with such entities is that they can impose harsh trading conditions. It means the platform is free to move leverage as high as 1:1000. And this puts your trading in jeopardy as you stand to lose more.

Contact and support

When looking for a viable crypto investment platform, you need to choose wisely. There are features that you should test to confirm eligibility. The support structure is one of them as it plays a vital role.

You need to test whether their support structure responds to queries fast enough. For example, we see a platform using a virtual phone number with a UK address. However, when you send emails, the platform rarely responds to them.

These are some of the glaring red flags that most investors will miss spotting. Support plays a vital role as you need to keep in contact with the platform. Without support, the platform could go silent on you.

Deposit and withdrawal options

You can fund your account using bank and wire transfers. The platform also accepts crypto assets. With crypto-assets, the funds will appear in your trading account within minutes. For the other options, members have to wait for 24 hours.

The platform may at times claim not to receive funds sent via bank or wire transfers. And this means losing funds as there’s no way of tracking the withdrawal. So we don’t recommend you fund your account with coinsbanking.com.

Withdrawing funds from the platform is the biggest hurdle facing all members. Unfortunately, those who claim to have made it are affiliates of the platform. These are clients who bait investors into believing withdrawal is possible.

Fund Safety CoinsBanking

Your funds are far from safe with an anonymous and unregulated platform. With several complaints, it’s best to stay away from coinsbanking.com. No one gets to invest with the platform and profit from it.

Our Verdict

Please stay away from Coins Banking.

Feel free to interact with the crypto community on matters investing and trading.