In this review we show you proofs that Coinphase and its token CPH are a gross scam that you have to stay away from.
What is Coinphase
Coinphase is supposed to be an investment and trading platform that will earn you yield thanks to its CPH token.
Coinphase is selling the CPH token at a rate that is set to 1 ETH = 3177.38 CPH. The value of the token is supposed to rise thanks to investment activities conducted by the company.
The company is allegedly trading cryptocurrencies, binary options, CFDs, Forex, stocks and commodities. It also claims that deposits are SIPC insured, so you know they are secure.
The question is if Coinphase is legit? Should you invest into the CPH coin?
Unfortunately no, Coinphase is not legit, it’s a pure scam. In this review we explain why and we provide proofs.
Illegal investment platform
Let’s start with the fact the CPH coin is sold as a security. You are supposed to buy it because it will earn you a yield thanks to the investment efforts of the issuer. That is the definition of a security.
Therefore Coinphase is an investment platform that needs authorizations from financial regulators. Does it have a license? No, not a single one.
Which makes Coinphase an illegal investment platform that cannot be promoted in any country.
In fact, Coinphase is totally anonymous, its official website provides no address, no contact information at all.
At the bottom of the official Coinphase web page you will find ratings from the likes of ICO Bench and ICO Bazaar. They all have supposedly given Coinphase ratings above 4 out of 5. The problem is that all these ratings are fake.
The mentioned websites either don’t exist or did not rate Coinphase at all. You can check the ICO Bench website and search for Coinphase, you will find nothing.
This is another tangible proof that the whole project is a big scam with fake information.
No SIPC insured
In the FAQs section Coinphase claims that it is a member of the Securities Investor Protection Corporation (SIPC) and that investor’s accounts are insured up to 500,000 USD. But again, that is not true.
Check the SIPC website and you will see that Coinphase is not a member. In fact, there is not a single word about this crypto project on the SIPC web.
It means not only that deposits with Coinphase are not insured, but also that its website is full of lies that prove that it is a huge scam.
Worthless CPH coin
The old-fashioned scams used to just take your money and give you nothing. Issuing crypto tokens has taken them to another level.
Because when you invest with Coinphase, you will be given the CPH token. This token will not be tradeable anywhere, except for the Coinphase platform. So they will arbitrarily say what is its price, they will pay you in CPH and keep the illusion of a prosperous investment platform going.
This way they can run for a longer time than a typical Ponzi scheme would. When they decide to do a rug pull, they will just disappear with your money. You will be left with a worthless CPH token that has no value and that can’t be sold anywhere.
How Coinphase works
Coinphase is a scam, there is not a shadow of a doubt about it. The only question is in what phase this scam currently is. It might still be running the fake show with the fake CPH token or it might already be dying.
Either way there is no real company behind it, money is not insured, no real investing is going on, it is just a financial scam where money will disappear. There is nothing sophisticated about it, just a big cloud of lies.
Coinphase review – Conclusion
Coinphase is big scam, it shows fake ratings, it is not SIPC insured and it’s an illegal investment platform where money will disappear. Stay away from it!
If you are interested in legit crypto investing, try a regulated platform with a free demo account.
Use the demo to familiarize yourself with investing and learn about the risks. Only when you understand everything and have a proper strategy, you can start thinking about investing real money.