Bitfex is a relatively new exchange dealing in digital currencies with a focus on the Russian market. The website claims to be a guru in cryptocurrency, fintech companies, and blockchain. The platform also does not inspire any credibility from its users due to its lack of transparency.
The founders and the people working behind the scenes are entirely anonymous, and yet they claim to be veterans in investments and crypto trading. It is a common characteristic for scam companies to hide both its company location and the owner’s information.
Bitfex cryptocurrency exchange is an untrustworthy exchange, and we would not recommend you venturing into it blindly. Investor’s funds are not safe in an unregulated and unlicensed cryptocurrency exchange. You should always invest with profitable Crypto Forex trading in the market.
Bitfex aims to offer its clients a chance to expand their portfolio and increasing the trader’s experience. The exchange claims it can offer it traders, rewarding returns at minimal risk. Bitfex aims to be thoughtful with the client’s contribution by offering them favorable chances of earning money.
Bitfex may be able to confuse others that it is a good company, and you might fall for their trick. You have to have a keen eye and not to fall for their tricks. The company also claims to observe responsibility, fairness, customer care, and integrity.
The fraudulent owners and managers of the company claim that they are ready to help and boast that they are veterans of the crypto space with many years of experience.
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Bitfex states it is an easy to use website with the colorful user interface as well as a systematic arrangement of bitcoin and altcoins. The company has projections on its website with several graphs on the trade volumes, altcoins, and some ratios.
The website lacks adequate information for its inventors, like financial performance and records. Bitfex is still lacking and has a shallow FAQ, which only explains the procedure of setting up your account and getting started.
Bitfex.io has been on the limelight since its inception with mixed reactions about its legitimacy. Bitfex.io is a company that claims to invest in VR technology, fintech companies, artificial intelligence, cryptocurrency, and ICO. You can indeed make money online and invest just like in the traditional sense, but many Ponzi schemes and scam sites are looking to loot your money.
Bitfex.io is a scam platform that smartly lures unknowing investors with referral commissions and excessive lucrative investment rates. The platform fails to provide any tangible proof to support its investment claims, and its only source of income is the funds invested by members.
Bitfex is a company that is not related to anyone, and the administration that runs the website is unknown and does not have any linked social media association. Anonymity is not a desirable feature for any investment venture. Bitfex has set a minimum deposit amount of $1. The anonymous nature of this platform makes it hard for investors to trust them. They do not have any proof of their credentials.
Bitfex does not provide any tangible evidence that they are indeed making investments, and there is no proof of economic activities. The company accepts cryptocurrency payments as well as Sberbank Online transfer, USD, ADvCash, and Credit Card.
The Platform accepts bank transfer payments across the world. The company claims to have numerous altcoins making it easier for clients to trade. Trades are done against USD and RUR and also many more pairs. This is all nice, but there is no evidence to prove that trading successfully takes place. Additionally, cryptocurrency exchange sites are vulnerable to frequent hacks
Bitfex is a scam platform that uses non-existence credentials and false promises to try and lure investors to join the exchange. The primary exchange currency used is bitcoin, and scammers typically use it because it is irreversible and untraceable.
Pyramid schemes like this also have hidden charges, and you will slowly lose your funds to eventually find nothing. The platform does not have terms of service, and it is not regulated.
Investment plan and returns
Bitfex majorly deals with Bitcoin and other altcoins with a guarantee of giving its users a safe, professional, and reliable environment. The platform aims to trick investors into making deposits on the platform.
The small deposits may be paid back the first few times, but once you deposit a large amount, the funds will be stolen, and you will not get a refund. The customer support framework will not respond, so it is better not to get involved with Bitfex in the first place.
Bitfex deals with numerous functions, as well as bitcoin and altcoins. The trading accounts have the standard plan, which has a leverage of 1:1 and the marker and taker fee are at 0.15%. The deposit is up to 2% on the standard plan. The industry average of trading fees is set at 0.20%-0.25%, but the trading fee for Bitfex is currently at 0.15%.
Regulation and Customer support
Bitfex is a Cryptocurrency exchange that claims to accept bank payments across the globe. The company did not post any registration information or licensing information on their website. It means that the platform is operating illegally, and it is subject to prosecution.
A company that is registered and regulated increases the client’s confidence because their interest is protected. The client will be safe because shady platforms do not have any registration and would collect the investor’s deposit and ghost them without repercussions.
Bitfex has many red flags considering it does not have any registration and its anonymity. The company does not have a physical address. The company is registered in Russia and does not have a good customer care system. In genuine and legal cryptocurrency exchanges, the client is accorded a higher level of importance.
Bitfex does not have a live-chat feature, an actively working telephone number, or social media handles. Bitfex has a help page on their website, which is designed to help its clients.
The Domain insight
During our investigations, we were able to acquire information about Bitfex domain at Whois.com and Alexa.com. The domain name of the registered exchange is bitfenix.com. The company was registered in Panama on 27/11/2009 and will expire on 27/11/2024. The global Alexa ranking of the Bitfex is unknown.
Bitfex cryptocurrency exchange is a pyramid scheme that has a bad reputation. Investors should beware of this scam platform. The website does not have any transparency, and it promises its clients significant profits for minimum risk, even in comparison to its peers.
The company has some negative reviews concerning its withdrawal. Bitfex payout and allow withdrawals when the principal amount is small, but once you increase your deposit, the website refuses to release your deposit and ghost you.
Bitfex has numerous red flags. The company operates anonymous and does not provide any information about the founders and the team working behind the scenes. It also lacks any regulation or registration documents. You should always invest with the best Crypto Forex trading in the market.
The website is operating illegally and will definitely place your investment in danger. The crypto space is very competitive, and there are many scams and legit websites inter-twined together. You will need thorough research to stay one step ahead of the rest.
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