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Change BTC Review: Scam Crypto Exchange will Rob You

Change BTC Review: Scam Crypto Exchange will Rob You

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Change BTC is an interesting Crypto currency exchange and all evidence point to the fact that Change BTC is not a reliable platform for conducting your  Crypto currency dealings. The platform has been in operation for the last 11 months now, and they have opted to go with a very basic design which makes it even more difficult to trust them because the site lacks a lot of important information which we believe traders must be provided.

For example, Change BTC does not show us their registration or incorporation certificates and for us to see that they are a serious operation, they must provide these details on their site. Change BTC is instead faking it with a dubious license number and obviously this can’t be verified because it is a bogus license number for that matter.

We are also questioning the reason as to why the site is mysterious. Yes, they are new compared to more established Crypto currency exchanges on the web. However, we are just wondering reasons as to why the creators have decided to put up a lackluster service such as this one hoping that they will attract the masses. This is not going to happen. And any attempt to let your Bitcoin pass through their hands will always result in a loss. If you want to trade Bitcoin for profit and never risk losing your funds, the best way to do so would be to utilize these bots for trading Crypto currencies. 

Change BTC Review

Before we send some Bitcoin through their wallet, we need to be familiar with the company details including their contacts as well. Generally, traders who are cautious of losing their funds prefer working with platforms that are fully regulated and monitored. This is because the so-called investment entities have robbed many people off their hard earned money, and what gives them so much leeway to rob people is because they are unregulated and thus they do not feel obliged to honor their promises.

Changebtc

It is also very difficult to entirely terminate these scams from operating. But generally, regulators around the world are doing whatever they can in order to spread awareness. So it is upon the trader to vet different exchanges in order to find one that suits their requirements in terms of regulation and features.

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Note: If your language is not English, you should use the language dropdown menu at the top of their page to select your language.

Change BTC claims that it is a licensed exchange, and is giving us the email address [email protected] and telephone number +49 89 5623099. At least we can call and speak to one of their agents but this does not guarantee safety or that Change BTC will not scam us.

How does Change BTC operate?

It’s quite simple and straight to the point. It starts with the user having both wallets in their possession, i.e wallet for the base currency and another wallet for the exchange currency. The wallet address has to be entered in the relevant fields. The procedure is allegedly going to take 3 to 5 minutes. A small fee applies although we don’t know what percentage they are charging for the fee.

Their support team is allegedly available to help address issues when they arise, although we are not sure how responsive they can be. There is no FAQ on the site, which is quite weird because all exchanges and investment platforms do have this section to guide their users. The platform is allegedly exchanging Bitcoin to Bitcoin cash and Ethereum too. Whether there are people who have been successful with this platform is something that is not very clear.

Site details

The site was created sometimes in 2017 and is set to expire in 10/12/2018. The domain was anonymously created, which makes us doubt their credibility because any website that masks the details of the owner is definitely up to no good. Currently, there is not enough data for us to track their monthly traffic for instance. All we know is that at least 45% of the traffic that comes to this site is originating from Iran. So there is a strong possibility that they are heavily marketing the service in Iran as opposed to any other country.

Is Change BTC a scam?

Our advice is that you should never try sending this exchange your funds if you don’t want to be stolen from. It is very risk. Trying to exchange here is very risk — we repeat. Most scams lack clarity of how they operate and whether or not they are licensed.

Change BTC lacks the clarity that we need. On top of that, there is no user feedback anywhere on  the internet concerning this service. So we believe that this is a very risky operation to engage in especially if you’re going to use a big amount of Bitcoin to exchange through the platform.

The other obvious reason as to why we are against this platform is because they are not regulated. They are not established either. This is because their intend is not that good. There is always a hidden agenda behind these red flags and you cannot really afford to ignore them.

So yes, Change BTC might be a very big scam. The trick can be simple. If you send a small amount, they may be faithful enough to send it back in the currency of your choice. But if you trust them with a big amount, they will simply take it and disappear. That is how some scams in the Crypto niche try to build the trust of their audience before doing an exit.

Our best advice for you

Change BTC and many other sites that operate similar to this one are a seriously concern. But at the moment, there are no complaints or user feedback yet, which means that people haven’t started using the service. As soon as we get feedback from users, we will update this review accordingly. The bottom line is that it is risky to deal with a service like this. If you want to invest in BTC, you can even mine them instead. That will assure you of more Bitcoin in the future.

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