In this review we have a look at the BNB Engine scam that is pretending to be generating money with crypto dapps.
What is BNB Engine
On its official website, BNB Engine is defined as a smart staking program that was designed to revolutionize the performance of Dapps.
The program claims to be generating high yield in the decentralized cryptocurrency world, but it doesn’t say how exactly is that supposed to work.
The main message for investors is that there are three investment plans promising 120% after 3 days, 150% after 7 days and 180% after 10 days. And it seems that there is no minimum investment, any amount of the cryptocurrency BNB will do.
Now let’s answer the question whether BNB Engine is a legit investment program or not.
BNB Engine scam
BNB Engine is not legit, it is an investment scam that is going to end badly. We explain everything in this review.
No Binance connection
BNB Engine tries to create the impression that it is somehow connected to the biggest cryptocurrency exchange in the world Binance.
In its video, BNB Engine even says that it was created by engineers who used to work for Binance. But it is not true.
The program is not connected to Binance in any way, it has nothing to do with it. It just uses the the Binance blockchain that is open to everybody. Anybody can build on it.
No audited contracts
On its website BNB Engine claims that it runs on audited contracts. Which would mean that a third independent party has verified the code of the program and validated it as safe and secure.
But it is just another lie. The code of BNB Engine has not been audited by any reputable party. The reason is simple, no reputable auditor would put its name under this scam that is sure to collapse and lose money.
No real economic purpose
BNB Engine completely fails to explain how it is supposed to generate such high profits. Money always has to come from somewhere.
Any project that wants to be sustainable must provide some value that people will be willing to pay for. There has to be an economic purpose, an exchange that makes sense both for the sellers and the buyers.
But BNB Enegine just uses fancy terms around decentralized blockchain apps and never explains how exactly it is supposed to generate money. It basically is a black box. But we managed to see through and we will explain exactly how it works.
The most telling sign of the BNB Engine scam is the investment plans. Because it does not matter if they promise 120% or 20% net after three days, these profits are just impossible to achieve in any legit business. That’s the reality.
Look at the recent Luna Terra and UST collapse, that project was not able to sustain 20% returns per year. So guess how long will BNB Engine last with 120% after 3 days.
This is really how you can spot most of online investment scams, they offer yields that are absolutely impossible to get in the real world. 20% per month? You can be pretty much sure that you are dealing with fraud.
How BNB Engine really works
BNB Engine obviously started as a Ponzi scheme. This type of scheme uses recent deposits to pay withdrawals of older users. And that is why they can be so misleading.
Because people often think that if a program is paying, it must be legit. But that is not true. Ponzi schemes tend to pay in their early stages but then they always collapse abruptly.
And this causes huge damages, because when people see that Ponzis like BNB Engine pay, they put more money in, they compound interests, so gradually they get to the point where they have a lot of money in these schemes. And then the crash comes, so they lose everything.
And because all transactions are made in cryptocurrencies, they can’t be reversed, nobody can get you a refund when you get rekt by fraudulent programs like this one. This is why you have to avoid them.
BNB Engine review – Conclusion
BNB Engine is a scam, it is just a Ponzi scheme hiding behind the modern wave of cryptocurrencies. It is going to collapse, you have to stay away from it.
If you want to try legit cryptocurrency investing and trading, you can do it with virtual money on a free demo account on a regulated platform.
Never start investing real money until you are absolutely sure that you understand the risks and you have money that you can afford to lose.