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Bit Trading Review: Bit-Trading.com a Dangerous Scam

Bit Trading Review: Bit-Trading.com a Dangerous Scam

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Bit Trading is allegedly a Bitcoin exchange. The company claims that investors can trust them with their funds. You should not take the word of every market seriously. There are many things that you should put into consideration before giving a company a trial.

The entity views itself as the best destination for investors to trade, buy, and sell crypto. Trusting an exchange that is a scam is the worst mistake that you can ever make. You will lose all your savings in a span of seconds.

Bit Trading claims that it is trading popular digital currencies in the market. These include; Ethereum, Bitcoin, Litecoin, Bitcoin Cash, Ripple, Monero, among others. After completing the signing up process, the platform states that they will assign an account manager to guide you to success.

The platform is offering very delicate services to investors. The company is acting as a crypto wallet. Investors who will store money with this scam will suffer severe losses. The entity does not have an excellent trading history.

Invest with reliable crypto trading companies in the industry. You will sleep better, knowing that your money is in safe hands. Various Ponzi schemes in the market are after your hard-earned money. If you are not careful, you will regret trusting the wrong venture.

Bit-trading.com Review

The domain name of Bit Trading is only registered for a period of one year. It shows that this scam does not have the intention of being in the industry past this timeline. The fraudulent entity claims that it has a competitive commission for their clients.

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The exchange states that it is transparent and cares about their customers. It claims that investors can download reports. However, the materials are not accessible to the member of the public. The company falsely claims that it is reputable.

Bit Trading Review: Bit Trading Platform

Bit Trading is untrustworthy and not reliable. It features statics that creates more suspicion. According to this entity, it has over 250k clients. The company was launched in February 2020, and there is no possible way to attain such a high audience.

The platform is using false information to win over customers. The exchange states that it has over 15 available digital assets.  It also conducts over 600,000 trades daily. Nonetheless, they have not verified the information that they put across.

To become a member, you only have to open an account. Then you can start trading crypto immediately. Bit Trading is a scam that targets naïve traders in the industry. The information that they avail on their website is insufficient. They do not build trust with investors in the market.

Trading Conditions

Bit Trading is using a web-based trading platform. However, the trading conditions are not discussed in detail. The platform does not disclose the leverage or spread that they are offering. There is no evidence of trading taking place on this website.

Withdrawal and Deposits

The company states that it is accepting some of the popular methods in the market. These include MasterCard, Digital currency, and Bank transfer. The least amount that you can deposit in this company is $60.

The platform, nonetheless, is only accepting crypto payment. Digital currency payment observes anonymity. Therefore, once you deposit funds, you will not know the owner of the wallet. The platform’s minimal withdrawable amount is $60.

Unfortunately, if you venture with this company, the funds’ withdrawal process will not work.  Bit Trading is not conducting any trade activities. The lack of information shows that the entity is not reliable.

Additionally, with the features that the company boasts of, they should have multiple clients’ feedback. Sadly, not even a single trader endorses this exchange.

Bit Trading Contact Details

Bit Trading claims that their customer support operates 25/7. You can contact them anytime around the clock if you have any questions. They feature an email address and telephone number that you can use to get them.

The office address of this suspicious entity is at 14Rotermanni, 10111 Tallinn, Estonia.  The platform is an offshore investment company that is operating illegally. The company will only be professional when they want traders to invest with them.

They will treat you unethically when you ask the whereabouts of your funds. Bit Trading is using fake contact details. Therefore, it will be a nightmare to track them down. The exchange should be avoided at all costs.

Regulation

Bit Trading is not regulated; nonetheless, the platform states that it is operating legally. They only have a registration document, which does not determine their legitimacy. Instead, the company should display a license from the FCA and any other country in which they offer their services.

The trading company claims that its operations are monitored by ABA Exchange limited. The corporate is allegedly a licensed venture. However, this is another false claim to win the trust of traders.

The FCA has already blacklisted bit Trading. Trading with an exchange that the financial regulatory body does not approve of is unwise. Financial Conduct Authority is one of the renowned bodies in the world.

In all the areas that the company accepts clients from, it does not have a license from the relevant authority. Avoid this Ponzi scheme because it is an unlicensed and shady broker. In case anyone approaches you regarding this scam, you should report the incident immediately.

Bit Trading Fund Safety

Bit Trading claims that they have zero investors’ funds theft. They brag about putting up strict measures to protect their clients. The entity allegedly has DDoS and SSL certificates. However, this does not guarantee your safety reason being that Bittrading is a Ponzi scheme.

The only people that you should be scared of are these scammers. The platform states that their services are available to any trader in the world. The other thing which this scam is bragging about is partnering with reputable financial institutions.

They do not mention the names of the banks. However, this is another gimmick to make investors see their funds are secure. Bit Trading does not safeguard clients’ funds in different accounts. Moreover, they lie about adhering to the legal requirements of financial bodies.

Bit Trading claims that it is located in Estonia. However, they are using a United Kingdom phone number. Such red flags should show you the nature of the Ponzi scheme. The entity also contradicts itself as it claims in the term and conditions to comply with US rules.

The company is an offshore entity that no one knows its real location. Additionally, the information of the account manager and the owner is not available. The trading company is an obvious scam that should be avoided.

Final Verdict

Bit Trading is a scam that does not have trading activities taking place. The moment you deposit money into this system that will be the last time you have access to it. The best you can do is avoid these thieves.

Trade wisely by using legit crypto trading companies that are reliable and trustworthy. You will earn a decent amount of funds without risking your safety. Investors need to be cautious as not every entity promising a great reward is trustworthy.

Unfortunately, Bit Trading is a platform that does not care about investors. It is a total rip off the venture. The best you can do is look for a better alternative in the market. Your safety should always come first.

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