Trustpilot marks Binance reviews as ‘fake’, disables firm’s TrustScore

Trustpilot, the review platform, has blocked the TrustScore of Binance for some time due to the identification of several ‘fake’ reviews on the crypto exchange. In fact, the platform has worked to remove the fraudulent reviews already but has said that there is possibility to eliminate more reviews if they are considered as suspicious.

formerly, Binance appeared as Trustpilot where it was baiting potential clients with sham endorsements.

A notice on Binance Trustpilot page says, “We are committed to the integrity of the Binance platform and have reported this company as a violation of our rules If you find such reviews, please do not hesitate to report them.

As one of the most reliable in its field financial service platforms may provide their customer both positive and negative feedback based on the Trustpilot service. However, contacting ‘sham’ reviews on ‘crypto exchanges’ such as Binance, action has been taken by the platform. This can be particularly damaging as often platforms use Trustpilot ratings to build up their credibility.

Evidently, the CEO of Binance, Richard Teng, must be fully aware of the damage that negative Trustpilot ratings can bring to the image of the brand. As of now, there is no Binance’s TrustScore yet depicted; however, users are welcome to leave feedback about the platform. What is more to that, only 4% of the total of 4,526 reviews are positive having been awarded 5-stars, yet 80% were given 1, which is generally a negative rating was given. However, at least Binance has attended to 91% of the complaints that have been made.

Lots of people believe that fake reviews are not only acceptable but also desirable, especially if they are written by professionals Paid reviewers can make a living from writing convincing fake reviews, and more and more consumers apparently do not mind receiving method acting performance.

Trustpilot’s guidelines are clear: ”As for fake reviews, we have zero tolerance and will take action when there is a breach. ” Although Binance’s TrustScore is now gone, its reviews are still available to the users. Remarkably, Trustpilot takes a lot of measures to maintain the authenticity, it even recently banned fake reviews in the USA after FTC decision.

Interestingly, Binance is not the only major exchange facing review issues. Coinbase, considered one of the more reputable crypto exchanges, currently has a TrustScore of 2.4 (‘Poor’), and OKX sits at 1.8 (‘Bad’). Bybit has the lowest rating at 1.5, categorizing it as ‘Bad’.

By including relevant keywords and linking to related articles, the rewritten content aims to provide comprehensive information while enhancing search engine optimization for CryptoTelegraphs.

Join Telegram Channel For Daily New update: https://t.me/cryptotelegraphs_updates