Biterrex Review – Shady Registration Statements, Platform, And More
In the first place, the Biterrex cryptocurrency exchange claims to be registered with MSB in the United States. However, it’s hard to check without transparent ownership and legal information.
But if the company is any close to legitimate, they would provide a license number for easier research. Keep that in mind. In any case, you will quickly discover through our Biterrex review that not all details on the company’s website are reliable.
|Is This Company Safe?
|Have Warnings From:
|Free Demo Account:
|How To Withdraw From This Company?
|With false statements about the company’s results, you cannot expect anything positive from this firm. On top of that, they are misleading traders about being MSB registered. So, if you experience any withdrawal problems, contact us as soon as possible for refund advice.
Legal Info: Is Biterrex Legit Or A Scam?
Biterrex company is one of those using all the dirty tricks to extort money from traders. In this case, they claim to have an MSB license. Firstly, they don’t. Secondly, they should obtain a Digital Asset Service Provider license or any kind of crypto regulation in the country where they operate.
We are checking the most trusted regulators like ASIC, BaFin, and FCA. But none of these hold any records of this company being regulated. Therefore, you can start questioning everything they say.
Who Are Biterrex’s Victims?
Another reason to be suspicious about this company is its statement about the registration date. Apparently, this firm was founded in 2015. Yet, the who.is research shows that’s a lie. The company’s domain was registered in September 2023.
On top of that, they claim to have a $65 billion average daily trading volume. With three months into the business, we highly doubt it. But traders that fell for these stories mostly come from:
- United Kingdom
But we are interested in hearing your opinion about this company. After all, there are zero Biterrex reviews. So, be the first to reveal something from the first hand. Also, contact us if you want to find out about refund methods.
Investment Costs With Biterrex
One of the most important things about this company is its lack of transparency. In general, the company doesn’t reveal any trading-related fees or commissions. Therefore, you can expect a wide range of manipulations there.
On top of that, they are practically working as a broker and not a crypto exchange. For purchasing crypto, they are redirecting traders to third-party options. Usually, that’s never a good sign.
Bonus offers with crypto exchanges are very rare. But if you get any, make sure to check the bonus policy first. In the case of this company and the Biterrex Earn program, you can expect some sort of incentives. Yet, the conditions for withdrawals or anything else remain unknown.
Biterrex Trading Features
Biterrex exchange practically offers crypto trading services in relation to USDT, BUSD, and fiat currencies. As for the trading features, they offer spot trading, crypto staking through third-party payment systems, and an earning program. However, the conditions for the Earn program are only visible to registered users.
Trading Platform Available
Fairly, the Biterrex spot trading platform is quite poor. It only offers basic charting options and zero analytical tools. On top of that, traders have limited ordering features and none of the advanced trading options, such as copy or social trading.
Available Trading Assets
Tradeable assets with this company are completely irrelevant. After all, if you can’t withdraw any profits, such assets are worthless. But if they are licensed, they would have quite solid offers like:
- SHIBA + many more
In general, crypto exchanges offer traders fairly better fees when they have a bigger trading volume. But that’s not the case with Biterrex company.
In this case, traders can choose to register a Premium/VIP account. The first thing for that is to have 0.1 BTC in the account. However, the requirements for activation remain unknown. That’s exactly what might be the catch to extort more money from traders.
Mobile Trading App
Another big sign this company is an absolute scam is a lack of trusted mobile apps. Don’t you think that a company that has an average daily trading volume of $65 billion should have a mobile app?
Can you just imagine all the commissions they are taking? Therefore, making a suitable and trusted mobile app wouldn’t be an issue. But since it’s all a farce, you can forget about such features. To learn what software options to avoid, read our tips from the Finero review.
Even though access to the platform is free, virtual funds are not provided. Therefore, traders don’t have the option to test fees and commissions with this company. But already at first glance, you can see why not to use the company’s features. Hopefully, very soon, some Biterrex reviews will tell us more.
Since this company deals with highly risky cryptos, they should also offer an educational program. Sadly, that’s not the case with the Biterrex scam exchange. They would run away without thinking if anyone knew anything more than them. But to see why proper educational programs are necessary, check our Dualix review.
The key thing with any investment firm is the withdrawal procedure. If traders need to provide a whole lot of documentation and prove everything, there will be trouble. According to legal docs, this company generally charges 1% for internal transfers, 1.5% for all transfers, and 2.5% for insurance if needed. But without regulation, they can make any of these up.
On top of that, there’s a collection-related fee of 18% if traders don’t pay the fee. As long as customers are not paying any of the fees, they can build up the costs. Which is very common among scam companies. But if you look at Foxechange.com T&Cs, you will see the exact same conditions. If that’s a coincidence or not, let us know in the comments below.
Unfortunately, the only way to reach this company is through live chat. Thus, it’s only available for registered users. But keep in mind that with these options, they can ignore clients as long as they want.
Key Information To Consider About Biterrex
Everything about this company is suspicious. Starting with registration and license details. But also with platform, fees, conditions, and withdrawal options.
Since withdrawal problems are definitely expected, we suggest you be prepared. For detailed guidance about what to do if you get scammed, feel free to contact our refund experts.
What is Biterrex?
Biterrex is a crypt exchange registered in 2023 and not 2015 as they claim and that is not a member of the MSB licensed entities.
Where is Biterrex Located?
The company claims to be registered and regulated in the United States. But with too many shady allegations, that might be a lie as well.
How Secure is Biterrex?
The company earns zero trust points. Primarily because of misleading traders. If you are one of those, don’t hesitate to contact our refund team for advice.