Online cryptocurrency trading is now becoming more popular, and there are hundreds, if not thousands of brokers and exchanges. These brokers are launching their trading services on the internet, many of which are scammers. Here is our Bitnexium review, which we recommend you read before you invest in this exchange.
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What is Bitnexium?
Bitnexium is a cryptocurrency exchange that offers trading in numerous digital assets. A cryptocurrency exchange is a financial services business that allows its clients to trade cryptocurrencies (also called digital currencies) for other assets, especially foreign currencies and other cryptos.
Bitnexium claims to offers its clients a wide range of cryptocurrencies for trading globally. That is along with margin trading, reasonable trading fees, cross-platform trading, multiple payment options and high liquidity. This is why many traders gravitate towards this crypto exchange.
To be able to trade on Bitnexium, you first need to open an account with them. After that you need to deposit funds in your new account. You can deposit and withdraw your funds using e-wallets, blockchain or cryptocurrencies.
Once you have deposited your funds, you may begin trading cryptocurrencies on the Bitnexium trading platform.
Will Bitnexium Scam You?
So, is Bitnexium a scam or legit exchange? In our Bitnexium review, we show you that there are enough red flags about this exchange that indicate that this financial services provider could actually be a scammer.
Hidden Whois Information
Whois is a domain lookup protocol that gives you information about a particular domain such is who owns that domain, what their contact information is, and when the domain was created.
Individuals hide their domain information for security reasons, however public domains such as Bitnexium have no reason to do so. However, when you check Whois, you will find that the exchange has blocked information about itself.
Domain Already Has Bad Reviews
Since Bitnexium’s domain was only registered on April 20, 2020, it is worrying that there have already been negative reviews about the exchange. Usually, when a new service is launched, a company does all it can to ensure good reviews to promote its site.
However, we found that many customers on Reddit have already given a negative Bitnexium review. Some have called the exchange a clear-cut scam.
Copied Content from Other Websites
Another huge red flag that indicates a Bitnexium scam is that its content is copies from other websites. If you check CEX.io’s website, you will be shocked to find that the content is almost identical. In fact, even the logo used by Bitnexium is the same as CEX.io’s.
CEX.io is a legitimate exchange. Therefore, what we can conclude is that Bitnexium is a clone site – a site that copies the design of a legitimate site to attract more customers. This is a tactic common among scammers.
Company Lies About Its Reputation
Another black mark in our Bitnexium review is the lies it has told about its reputation.
Bitnexium claims that it was founded in 2013 and that it already has more than 1 million users on its platform. However, when we checked, we found out that this exchange’s domain was registered only recently – on 2020-04-20, in fact.
Thus, we can safely say that the possibility of a Bitnexium scam is very strong.
Not Listed on Known Exchanges List
Because of the fact that there are so many scammers in the crypto market today, there has been a known bitcoin exchanges list created by Bitcoin.org. Only exchanges that are legitimate are listed here. And Bitnexium is not on this list, which is a clear indication that this exchange is not to be trusted.
Free Email Provider for Contacts
Bitnexium’s email address is [email protected]. Proton is a free email provider offers anonymous, encrypted email accounts, so why would a professional cryptocurrency exchange use such a service?
Limited Contact Options
The only way that you can contact Bitnexium is via email, which is another red flag. Legitimate exchanges offer many options such as phone numbers, live chat, online forms, and so on. So, the fact that this exchange offers only an anonymous email contact option is a serious issue, especially when it handles other people’s money.
Everything that we have researched about Bitnexium points to the fact that this cryptocurrency exchange is a scam and that your money is not safe with them. We would recommend that you use an exchange that is listed on the know exchanges list if you wish to trade in cryptocurrencies.