Instant Bitex is a cryptocurrency exchange platform that is allegedly based in the United Kingdom. We view the company as a small exchange since the number of users that they have is not much, and the reputation does not over-shine them.
The company brags of having meager fees, high-security protocols, and accepting investors from all over the world. Additionally, they also claim to have the best trading platform in the market. The company features its trading view to gain the trust of investors.
The firm should at least publish their performance report. In addition to their accomplishments that it has been able to meet since the time they became in existence.
Instant Bitex uses the flat fee model instead of the marker and taker technique. The company is offering traders a flat fee of 0. 10%, and the charges are lower compared to other exchanges in the market.
However, when we checked on the platform security status, we found that it is below the market average. It is not a good sign, especially considering that the company does not have any reputation. Instead of wasting your time with a company that has acquired negative reviews in the market, it would be best to use legit cryptocurrency trading software, but that will ensure you attain real-time earning without compromising your safety.
Instant Bitex Review
A company is marketing itself as a leading crypto exchange that wants to use innovative measures to provide fast trade execution in the industry. The trading fee starts from 0.1%, and the deposit is free. It has an average of 19 cryptocurrency pairs available for the investors.
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Unfortunately, there are no trading activities taking place in this Ponzi scheme. The company is fraudulent, and the statistic that the Project is misleading and vague. The CEO of Instant Bitex is someone by the name of William Son.
We believe this is a pseudonym because after checking for the person to identify online, our efforts were fruitless. The founder has no background in investment or in the cryptocurrency niche, which is more worrying. He doesn’t have a social media profile or any digital footprint. Instant Bitex is nothing but an extortion system looking to steal money from investors.
How Does Instant Bitex Operate?
The company, apart from being crypto exchange it also markets itself as an ICO. The Ponzi scheme has three investment account that they are offering to investors. The reports have a different requirement, and you will have to deposit a certain amount of money for you to enjoy the services.
The profits that the company is promising investors range from 0.50% up to 1.50%. A bonus of $50 also accompanies it up to $100. The number of users that the company is bragging about is false, and considering the time they have been in the market, and they are Lexus global ranking, something is not adding up.
There’s no possible way that the platform can be able to handle the withdrawal request of their clients while, in reality, they have no business going on. Traders should look for another alternative. Moreover, Instant Bitex has a demo account which does not serve much use.
The simulation that you are going to make will be nothing close to the amount that you will receive if you decide to engage with these pyramid schemes. Their currency pair does not have the current amount of cryptocurrency in the market.
It is clear that they are using a custom-made platform. You should not expect much from this fraudulent system.
Withdrawal and deposit
Instant Bitex is offering favorable opportunities to investors in the market compared to other legit exchanges. It raises suspicion and does not act as an added advantage. When you wish to cash out your BTC, you will have to pay a charge of 0.0005.
Novice traders might see these like a pro, while, in reality, it is an enticing method used by shady companies. The firm does not accept payment via fiat money; you will have to deposit using cryptocurrency if you want to be a member. Hence, you cannot trade without digital assets.
The company does not disclose how long the withdrawal process will take. However, according to the reviews that we encountered, we can conclude that Instant Bitex has no intention of releasing users’ funds once they deposit. All their beautiful rewards and promises are fake.
Registration and Customer Support
Instant Bitex is a platform that is being monitored by Instant Bitex Limited, a corporate that is registered under company number 11353300. The physical address of the firm is 160 City Road, Kemp House, London, UK, EC1V 2NX.
Unfortunately, they are not regulated by the FCA. Any investment company needs to have several licensing documents from appropriate financial regulatory bodies in their area of operation. Hence, the safety of the clients’ money is something that is not guaranteed in this platform.
It is the requirement of various financial watchdog in the industry. For investment venture to set aside a certain amount of money to be used as a compensation in case it faces insolvency. However, this Ponzi scheme fails to provide their banking information. We take that this is because they are engaging in fraudulent activities.
Instant Bitex Claims that it has 24/7 customer support services. They have life support via WhatsApp. Unfortunately, this is not correct. The platform has associated much negative feedback. Customer support is terrible, unprofessional, and unethical.
Once the firm receives your money, it will stop being friendly and never respond to your requests. The likelihood of Instant Bitex lying about their physical address is very high, especially considering it is a scam website.
The company has acquired much negative feedback from investors who have tried their services. Instant Bitex requires the admin to confirm the cashout request before processing it. The firm is being accused of not honoring their end of the bargain to their customers.
It is important to research so that you know what other investors things about a company before trusting it. Many investors believe that Instant Bitex Is a notorious Ponzi scheme that is not worth traders’ trust.
The website owner is blocking investors who try to contact them regarding their money, and this is not a good sign, and such a shady firm should not be in operation. The high-volume that the company is bragging about is all fake.
The complaint of customers not receiving their money back should serve as a warning to a trader who might be tempted to deposit money with a suspicious entity. Considering that the company is operating against the law, and it does not offer funds safety, it would be best to stay far away.
Instant Bitex has proven to be a shady cryptocurrency exchange that has only one purpose, which is to defraud as many people as they can. We do not recommend the services of this Ponzi scheme, and we urge all our readers to stay away from is nothing positive they will acquire from the company.
You can invest with a trustworthy cryptocurrency trading investment platform that has been in the market and has a history of trading. Transparency is everything when it comes to investment ventures. It is something that is a Ponzi scheme does not avail to their clients.
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