BitOasis is a broker and crypto-to-crypto exchange investment company. The location of the platform is in the United Arab Emirates. The platform should be approached with caution as we don’t trust it is legit.
No licensing body regulates the platform. The investment company allows members from specific countries.
The exchange company targets investors in the Middle East and North Africa. BitOasis only allows funds deposits using fiat currency from six nations.
That is the UAE, Oman, Qatar, Kuwait, and Saudi and Saudi Arabia. Nonetheless, the platform does accept deposits and withdrawals from all over the world.
It only supports a few currencies compared to other exchanges. BitOasis has been in the market longer; it was established in 2015.
United Arab Emirates Dirham (AED) is the main currency used in the site. Purchasing cryptos can be done using USD, but the platform charges are higher than the average market.
👉 Want to make money automatically with Bitcoin and Cryptocurrencies without the risk of trading yourself? Are you ready for self-custody of your investment funds? Do you like the sound of regular consistent results and profitable performance? Tired of the forex and crypto scams, false promises and games out there designed to separate you from your hard earned funds? Stop everything! ETBOT is for you! With the ETBOT software, only YOU are in control of your investment funds. The software works using API Key connections that only YOU set up and control. The ETBOT service and mother company EndoTech has been making investors hundreds of percent a year in proven gains since 2012! They use the volatility of the Crypto market to trade long and short using breakout techniques and strategies powered by real Artificial Intelligence. This year so far ETBOT has made over 75% for clients since January 1st, 2020. If you are ready to leave the trading to the professionals and upgrade your monthly income, now is the time, head to ETBOT now and buy your subscription to get started. PS: ETBOT is a Profitable Forex/Crypto Trading Bot. 100% Verified and Recommended by Valforex.com.
The platform is pretty expensive for investors who would like to use dollars to trade. The platform, despite being in the market for long. It is not featured in any noteworthy crypto data website like CoinMarketCap.
This raises red flags considering they claim to be a legit platform. CoinMarketCap usually lists trustworthy websites that traders can trust and make a real return from.
We cannot tell how much BitOasis investment Company trades. We would not recommend you to choose this platform. Furthermore, it has limited investors compared to other legit cryptocurrency exchanges that are performing better in the market.
The currencies that you can trade are; Bitcoin, Bitcoin Cash, Ripple, Ethereum, Ethereum Classic, Zcash, Bitcoin Cash, and Stellar Lumens.
The platform supports only eight cryptocurrencies. Trading is limited as investors can only trade digital currencies against Bitcoins.
The platform is well designed and even has a mobile application. However, the app can only be installed on an iOS device, and Android users cannot access it. The mobile application wallet operates like an online wallet.
You can check your trading history as frequently as you wish. The only thing you cannot do with the app is to trade.
The Company uses some security features to protect their clients. They request for 2FA every time you log in to the platform.
Clients are also asked to set up a Two-Factor-Authentication (2FA) and to confirm their email whenever they log in.
The Company has not advanced their security by using high-quality measures to keep hackers off. The suspicious platform recently developed its crypto wallet. It can be downloaded using a mobile app or accessed online.
The wallet uses the three-tier key system. The BitOasis exchange keeps the first key, the other key is stored by BitGo, the third party also stores the last key.
Like similar wallets, it can receive and send money or store to keep it safe. But, the most important thing to remember is that you are not in full control of your money.
The Company behind the platform operation is BitOasis Technologies FZE. It is located at Silicon Oasis Authority in Dubai.
The address of BitOasis, as indicated in their platform, is in UAE, Dubai Silicon Oasis, G078, Dubai.
The president of the BitOasis is Ola Doudin, an entrepreneur from Jordan. Formally he used to work in the UK.
His initial idea was to mitigate the trading of Bitcoin in the Middle East and North Africa region, which was not available before.
The Company has grown popular in the region. The person behind the BitOasis exchange and a co-founder of the platform is Daniel Robenek, a software engineer from Czech.
The company website looks legit, but they have not shown their background operations. BitOasis lacks an ‘About Us’ section on the site.
However, unlike other scam websites, the platform has not hidden information about who runs it.
The platform is not a regulated exchange, and this is a huge red flag. The Company claims to work with a high trustworthy legal counsel to ensure they comply with regulations.
However, they have not disclosed, the regulatory body they are talking about. If the Company was legit, they would be transparent on this particular matter.
It is just another tactic to cover, for they do not have a regulatory license. We would recommend that you always choose a platform that is regulated by notable bodies.
The platform customer support is terrible. The BitOasis exchange has not listed a phone number, no social media support, or a live chat to be contacted with.
The only way customers can reach them is by sending them a support ticket, which is on the clients’ account dashboard. The chances of a problem being solved will take ages if at all they will attend to you.
The investment company is not regulated. When trading, you should always look for licensed platforms. Your funds will be safe as the crypto-financial bodies will be overseeing the operation of approved platform.
Trading involves a lot of risks, the BitOasis Firm has not bothered to let their investors know the mitigation they use to cover the same. The Company is ‘self-regulated,’ which makes it difficult to trust them.
Most Ponzi schemes will claim to be hacked before exiting the market. BitOasis exchange company is in full control of traders’ crypto private key wallet.
If the Company is compromised today, all the investor’s money would be lost. If this happened, there is no chance that the Company will reimburse your funds.
We would not recommend you to trade with this platform. It is not safe and should be approached with a lot of caution.
There have been positives reviews concerning this website from some users. There are numerous complaints, as well. The Company has been promising the investors a bank deposit option, but have taken no action in achieving this.
The verification process takes ages. Some customers have complained of their unprofessional customer support. The inquiry is not attended to on time, and some verification take up to a month.
Traders are also complaining of the high deposits charges associated with credit cards. Traders have flagged the BitOasis Platform as a pure rip off with multiple hidden charges at every transaction.
The platform FAQ claims their charges are linked with the transaction of selling and redeeming BTC on their brokerage site.
It is not clear how much they charge. They have not mentioned the percentage or method they use to determine the fees.
The withdrawal process also takes a long time. Some client claims not to have received their withdrawal for about a month after requesting. Other investors receive their funds after two weeks.
The platform has indicated that they take approximately 10 days to handle the withdrawal requests. Fast withdrawals are a critical factor in cryptocurrency, and it is associated with a legit platform. We are not confident about the platform.
BitOasis specifically target the Middle East investors, but also, anybody can trade with them. They do not restrict any country from using the platform.
They also charge very high trading fees to their clients. Bitcoin price via USD is higher than spot rates.
They have an easy to use interface which is eye-catching to crypto traders. However, the negative features of the platform are major, and the Company should be approached with caution.
It might be another scam. They rip off traders’ money as they have hidden charges.
Help Us Fight Scams. Please Donate to Support Our Work. No Amount is too Little or too Big. Thank You..
February 8, 2019 By Ghazanfar
The phrase ‘Necessity is the mother of invention’ seems true for Iran. This is because Iran has unveiled its own...
February 8, 2019 By Ghazanfar
In spite of long bear market, Bitcoin transactions per day are increasing. Today the level of these transactions has touched...
February 4, 2019 By Ghazanfar
Although bear market in crypto world is extending, yet many fiat currencies are facing the threat of destabilization. This is...
February 4, 2019 By Ghazanfar
In spite of mix signals from the cryptocurrency world about the future of cryptocurrencies, many countries are planning to test...
February 3, 2019 By Ghazanfar
The idea of Bitcoin adoption as an international currency is not at all new. Over the years, many financial experts...
February 2, 2019 By Ghazanfar
Bitcoin’s entry into the longest ever bear market in history is one of the most burning issues of today. The...
Valforex.com will not be liable for any damages incurred due to the usage of any information displayed on this website. The information and trading guides found on the website constitute the authors’ opinion only. Trading Forex, Binary options and Cryptocurrencies involve high-risk and are not suitable for all investors. Online trading in general, may not be legal in your jurisdiction. It’s visitors’ responsibility to make sure these entities are legal in their jurisdiction before engaging in trading activity… Read More