Coinzit Review – Illicit Companies Do More Damage Than You Think

Coinzit is a completely anonymous website. The website traffic is so low, it doesn’t even have a statistic that shows a visitor count. This is quite bizarre, considering that the company claims to be established 6 years ago. The overall design is very poor, with graphics stolen from another cryptocurrency exchange. Furthermore, you can’t help but chuckle when you say the name of the company out loud.

Coinzit, however, is more dangerous than that annoying pimple on your face by a few orders of magnitude. Learn more about this online scam in our Coinzit Review.

No Regulation And Fake Certificates

While Coinzit shows many different certificates coming from the State of Colorado secretary’s office, the company has no connection to the US at all. Even if it were in some way certified by the secretary’s office, this branch of the government doesn’t regulate financial markets in any way.

A quick search of the NFA register shows us that the website operator, Coinzit Global digital assets Co. is not authorized or licensed in the US.

Another false claim pertains to the company being established in Singapore. In this case, one Hendrik William Offenberg is stated as a company CEO. While we could not verify if this individual is in any way connected to Coinzit, we do know that Coinzit is not registered or licensed by MAS either.

Additional investigation has shown us that www.coinzit.com domain is operated from Taiwan, but Coinzit does not show in the MOEA register.

After inquiring with FCA, FINMA, FSCA, AMF, CONSOB, CBR and ASIC we found out that Coinzit is not entered in any regulator database at all. It is our final opinion, then, that Coinzit is an unauthorized entity operating with no regulatory supervision. This makes them a dangerous, fraudulent entity that is likely to steal your money.

Coinzit Clients’ Opinions

Finding any client testimonials about Coinzit was a difficult task, since the company is completely anonymous. We did persist in our efforts, and here is what the people say about their experience:

“ Zero stars. Take your money and guide you through trading only to get near the end and then give you a misleading instruction so you loose it all! Total scam! Stay Away! Far far away! “

“ They won’t allow to withdraw funds, after promising making profits with investing guidance by some “analyst”. Definately a SCAM. “

“ I was working with an agent who wanted 30% of my profit – then I find out they won’t let me withdraw until I pay the 30% so I pay the 30% now coinzit says I need to pay another 30% as it’s a big withdrawal total scam “

Where Does Coinzit Scam Find Their Victims?

Coinzit tries to push the idea that their company was founded in 2017. Although their domain was in fact created in 2018, it was only a placeholder site for hosting services for a long time.

We were able to date the last website lease advert to 2022, so the company must be younger than that. This is the target demographic of the Coinzit scam:

• United States
• United Kingdom
• Poland

It wasn’t just the website that the people behind Coinzit bought. They also own a social network profile on X. Although the follower count is very low, you don’t need followers to pester people to invest with your fraud.

This is exactly what the Coinzit boiler room agents do. They hang around social networks, looking for people to invest with their crooked platform. If they can’t find people online, they turn to dialing phone numbers and using Telegram messaging service.

If you’ve had a run-in with anybody claiming to be an employee of Coinzit, break communication immediately. In the case you’ve already deposited with this firm, contact our recovery experts as soon as possible to see how you can chargeback your assets.

Expensive Hidden Fees

One of the hallmarks of every scam company like Coinzit or GoldenrodFX is the lack of any information. Coinzit.com website doesn’t contain anything about different fees, except the fact that they do exist.

Beware of any company that doesn’t publicly present their costs. They commonly invent various hidden fees and ask for more money up front, only to pull the rug under your feet in the end!

General Trading Features On Coinzit

No matter how little you expect from Coinzit, they still manage to disappoint you. Their website is an utter mess, like the one operated by CFDglobe fraud.

Besides the usual dead links that lead to nowhere you will also be greeted by non-functional trading applications. You won’t even be able to create a Coinzit Login, because of how broken javascript is on coinzit.com.

Trading Platform Does Not Work

Unfortunately, we were unable to gain access to the Coinzit trading application. Not only were we unable to create a Coinzit Login, the application itself doesn’t function.

One of the key features of trading on a cryptocurrency exchange is a well made trading application. The crypto market is very volatile and fluid, and you need software like cTrader, MT4 or MT5 to assure good quality of service.

Selection Of Trading Assets

The clients of Coinzit don’t have an actual ability to purchase or sell crypto coins on their platform. The platform allows trading other cryptocurrency related assets. Unfortunately, with the poor state of the website, we couldn’t examine these assets thoroughly.

Here is what Coinzit claims to offer:

• Cryptocurrency Pairs (BTC/USDT, ETH/USDT, EOS/USDT, BCH/USDT)

Dysfunctional Account Creation Form

When it comes to account types, we have only managed to draw a complete blank. Not only does the company not advertise any trading accounts, we were unable to create a working Coinzit Login either.

We suspect that creating a trading account may only be done through a boiler room agent. This puts clients in greater danger, as these agents’ job is to squeeze as much money from their mark as possible.

Unlisted Mobile App

Coinzit does offer a mobile trading app for both iOS and Android devices. This app is not listed with either Google Play or App Store, however.

We advise our readers to never install any software that is not listed or rated on their devices’ dedicated software platform. More often than not, these apps contain dangerous malware that can create a backdoor for hacking.

Problems With Coinzit Withdrawals

As you have seen with the client testimonials, Coinzit only allows withdrawals through the dedicated “account manager” employed by the company. In fact, their website doesn’t even advertise any withdrawal options.

If you have been defrauded by Coinzit, there are still ways to recover your assets. Contact our legal professionals through the live chat, and book your free consultation for more info.

Unresponsive Customer Support

The Coinzit customer support will link you directly to their Telegram chat room. It’s the same one their boiler room agents use to soften their newly found victims.

When you try to voice your concerns, they either ignore you, block you, or pester you to invest further funds. In the end, your issues will remain unsolved, and you will find yourself with even less money in your pocket.

What To Do To Recover Money From Coinzit Scam?

Coinzit is a completely unregulated cryptocurrency exchange. The company tries to fake credibility by posting nonsensical counterfeit certificates allegedly issued by the state of Colorado Secretary’s Office. Their website is dilapidated, and many of the important functions either don’t work, or don’t exist.

Losing money to an online fraud can put a strain on any household budget. Don’t worry, because there is a way to recover your money! Contact our experts via the live chat and book a free consultation today!

FAQ Section