BitxOnex Review: Pricing, Legal Documents and Regulations Revealed
BitxOnex company seems to have been founded in 2022. With such a short company lifespan, there’s no room for trust, especially when said firm doesn’t reveal any ownership or headquarters details.
Thus, traders could make assumptions with a website translated into Korean and Chinese. But the one thing is sure. Everything you find in this BitxOnex review will help you make an educated decision and avoid scammers in the future.
|Active scam crypto exchange
|Financial Authorities Warnings
|No official warnings
|e-mail; Telegram; Discord
|If a withdrawal is possible
|0.2% taker and maker fees
|If Active on Social Media:
|Yes – Twitter
|Indonesia, South Korea, Spain, United States
|Lack of credibility; all negative reviews; no regulations;
Is The BitxOnex Company Legitimate?
Overall, cryptocurrencies are designed to be decentralized. With this in mind, some companies would tell you it’s irrelevant to know who they are. Yet, to trust any company, they should be registered somewhere. But even better, licensed.
The first thing you can recognize about BitxOnex scam company is that they don’t reveal any of these details regarding the owner, licensor, or anything else. There’s a possibility they are registered somewhere offshore. But surely, they are not regulated by any DASP/VASP regulator.
How Does BitxOnex crypto exchange work?
Like with any other anonymous company, you will see different manipulation tricks. Starting with fake connections to legitimate firms, publications, awards, and much more. But most importantly, you’ll see fake offers.
Crypto exchanges tend to offer the most popular crypto coins and highly advertise those. Inexperienced traders can easily fall for the tricks and start depositing money. Yet, without a trusted platform, you can’t trust a bit of detail on it. Especially not the results or market data.
In any case, if traders manage to build some portfolio, very often, they can’t get any money out. Luckily, reading our Broctagon Prime review can help you prepare for such moments.
What Do Other Traders Think of BitxOnex Exchange?
If you don’t know where to start looking for proof, find the company’s reviews. Even though those can be manipulated as well, very often, you’ll see a real picture. Think about it for a second. When was the last time you left a positive review without third-party persuasion? Very rarely. But when clients are not satisfied, they rush to leave comments everywhere.
That’s why you can already see 7 comments on Trustpilot, all of which are negative. As can be seen, the biggest issue with the company is the withdrawal. Also, keep in mind that BitxOnex Korea is the primary website address. Therefore, it might be primarily targeting Koreans.
What Cryptocurrencies Can You Buy?
One of the most important assets of this company is its proprietary token – BitxOnex. The company doesn’t have any limitations for this asset. On the positive side, traders can also choose between more than 100 other options. Besides some of the most popular ones like Bitcoin, Ethereum, and Ripple, traders can choose:
- Nexa coin
- Smudge Lord and many more
Trading Conditions and Fees
Generally, crypto exchanges often offer different VIP plans to motivate customers to trade more. Yet, with this firm, everyone gets the same trading fees. These are fixed at 0.2% regardless of whether you are the order’s maker or taker.
Currently, the company offers Spot trading and Investing Pool. The Investing Pool has fixed duration periods and approximate annual percentage yield for different assets.
Trading Software and Mobile Apps
One of the huge downsides of this company is a lack of trusted apps. Even though they advertise hot and cold wallets, the company didn’t develop any iOS or Android applications.
Another downside is that the charts on their web-based platform are imported from TradingView. Yet, the company can modify all the pricing, conditions, and profit/loss features. To learn what software is the best for you, check our Optiver review for more details.
BitxOnex Review Reveals How To Withdraw The Funds
Since the platform is completely fictive, withdrawals are highly speculative. In the first place, BitxOnex doesn’t reveal any legal documents or withdrawal policy. Therefore, the withdrawal processing time remains unknown. But what you can expect are various verification and AML law issues.
Another important problem is that the company has three different withdrawal limits. These range between 1.000 USDT, 5.000 USDT and 100.000 USDT. Also, every cryptocurrency has a minimum withdrawal limit and precise fee. At least there’s something transparent. But with their anonymity, you can expect changes there as well.
All in all, the conditions to get to different withdrawal stages remain unknown. But definitely, you can expect higher trading volume or a deposit to get there. Yet, you should keep in mind none of the regulated exchanges would limit you on a withdrawal.
How Can I Make Money While Trading Online?
With the rising popularity of cryptocurrencies, many companies were built. But also numerous alternative crypto coins. Of course, with every bubble, you can expect people who take advantage of inexperienced customers. That’s where regulation comes into play. If you are looking to invest in crypto, you better choose a regulated exchange.
But still, limiting yourself to crypto trading is not advisable. Especially since it’s still a speculative sphere. On the other hand, you can trade some fundamentally understandable assets. Such as indices or stocks. But also commodities. If you add to that AI Analysis Tool which can help you with analyzing the market, you could be unstoppable.
Many traders who were trying different strategies found this AI Analysis Tool improved their results primarily because you are not wasting hours in scanning the market. But also because it provides you with the market forecast you can opt to follow. If you are interested in testing it and seeing its benefits, get in touch with our specialists today! Don’t miss a chance like you did with a Bitcoin!
What is BitxOnex?
BitxOnex is an anonymous crypto exchange established in 2022 in an unknown location that claims to be a globally approved company.
Is BitxOnex Regulated?
Not at all. The company doesn’t have any Digital or Virtual Asset Service Provider license.
Can I Make Money With BitxOnex?
Making money has never been the issue. But withdrawing any funds from unregulated companies is. Which makes a huge difference.