BiterCoin Review – Crypto Exchange Vanished In Less Than A Year

BiterCoin company presents itself as a reputable crypto exchange. However, it’s not registered anywhere. For that reason, we are not surprised that they are hiding their details.

So, if you are looking for a safe place to invest your money, you better read this BiterCoin Review carefully. At least you will know what to avoid. But also, how to recover the money if you take the wrong turn.

Legal info: Is BiterCoin Legit or a Scam?

Biter Coin exchange doesn’t reveal any ownership details in the first place. Neither do they offer addresses or contact info. Basically, they are a completely anonymous company without valid registration anywhere.

Searching for their license would be a waste of time, but we did it anyway. However, none of the Tier 1 regulators have heard of this company. Especially not institutions like FCA, BaFin or ASIC.

Who are BiterCoin Victims?

Since 2023 when the company was registered, they managed to spread their fingers into the pockets worldwide. But also in some strictly regulated countries. Unfortunately, mostly scammed traders come from:

• Malaysia
• United States
• Singapore
• Brazil
• Ireland

Where are you coming from and what’s your experience with this company? Let us know in the comment section if you need assistance in recovering your funds.

Traders Reviews

Another clear scam sign is Biter-Coin.com reviews. Seems like they are not luring traders through ads, but also on WhatsApp. Which is seen on one Reddit comment. Nevertheless, Trustpilot reviews bring the real picture. In fact, 86% of 14 in total, are negative.

In case this exchange scammed you as well, get in touch with our team immediately. There’s still an option to track your crypto and start a recovery process. What other traders think about brokers in general, you can check in our BullishFXMarkets review as well.

Leverage, Commissions, Spreads, Fees and Taxes

Practically, the company doesn’t offer any trading information transparently. On top of that, their website is shut down currently. Anyways, you can see that whatever they present is fictive. That’s the main reason why we always suggest trading with licensed brokers and exchanges.

         Bonuses

More details about bonuses are not currently available. But don’t be surprised if any scam broker approaches you with a special offer just for you. Those often come with malicious policies preventing you from withdrawing any funds. Instead, you can check licensed brokers and one of those you can find in our EasyMarkets Review.

BiterCoin Trading Features

Important to realize is that BiterCoin company didn’t offer a dedicated desktop app. So, the only way to access your portfolio is through the web-based platform. But be aware that such platforms are often manipulated by unregulated brokers.

         Is BiterCoin legit?

No. The company is not licensed and they offer investment services without a license. Not to mention missing ownership and address details.

         Available Trading Assets

BiterCoin is a fake crypto exchange offering most likely the leading cryptos. However, all the cryptos deposited went straight to their pockets. Once they collected enough, they vanished. But don’t be surprised if they rise like a Phoenix under a different name.

         Account Types

In fact, BiterCoin didn’t provide any account type classification. Generally, exchanges offer lower costs if you have bigger deposits. Those are often available on CoinMarketCap. Thus, this company is non-existent and such details remain unknown.

         Mobile Trading App

As mentioned earlier, the company didn’t provide dedicated software. Neither did they offer mobile apps. So, all this combined leads to a very low trust score.

         Demo Account

Mostly, crypto exchanges don’t offer a demo account. It’s quite simple to understand what you are doing. However, insight into the software would be a nice choice. Thus, scam companies don’t offer it.

         Education

It seems that BiterCoin’s goal was only to extort money. But not to help traders learn more about the crypto world. Ultimately, that would work against them if all traders knew the downsides of crypto. For that reason, there are no proper education tools on the BiterCoin platform.

BiterCoin Withdrawal

The BiterCoin scam is not exposed without a reason. The main issue traders are reporting is the withdrawal. Considering the shut-down website we can only assume that their T&Cs were non-transparent. If those existed at all.

Unregulated companies can easily make up reasons to prolong withdrawal requests. Either you deposit more money under pressure or they lock your account in the end. That’s why you should stick to licensed companies.

Customer Support

Another warning sign is the company’s customer service. Like many other scams, they only provided e-mail and live chat. So, plenty of room for avoidance. Currently, they are not available anywhere.

Key Information To Consider About BiterCoin?

Luckily, the company is not active anymore. But you should know how to recognize scam signs to avoid them in the future. Therefore, avoid unregulated brokers with missing ownership details. Also, if the broker doesn’t offer its services and costs transparently there’s something wrong. Not to mention legal documents and transparent withdrawal procedures.

For withdrawal assistance, the best option is to consult with professionals. Our team is available for consultation, your job is just to book it. No worries, the first consultation is free and non-obligatory. At least you’ll find guidance for the next steps. Get in touch today!

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