Relatively young, the cryptocurrency assets are attracting more investors each day. The market volatility proves to be a good way to earn significant sums in a short timespan, but come at significant risk.
One of the greater risks is that the exchange you’re dealing with is not exactly a clean company in legal terms. Read all about crypto online fraud in our Lidcoin review.
| Regulated by: | Unregulated |
| Is This Company Safe? | No, never invest with unlicensed firms! |
| Known Websites: | lidcoin.vip (inactive)h5.lidcoin.vip (inactive) |
| Have Warnings from: | DFPI |
| Registered in: | N/A |
| Operating since: | 2023 |
| Trading Platforms: | Web Trader |
| Maximum Leverage: | 1:200 |
| Minimum Deposit: | N/A |
| Deposit Bonus: | N/A |
| Trading Assets: | Cryptocurrencies |
| Free Demo Account: | No |
| How to Withdraw from This Company? | To recover the funds from this defunct platform, contact our recovery experts. |
Legal Info: Is Lidcoin Legit Or A Scam?
Lidcoin crypto exchange is one of those targeting traders through campaigns. This way, they put pressure on clients and don’t leave them enough room for research. If they could do any research, they would find out this company is nothing but a scam.
Primarily, the company is not regulated anywhere. We will start with Europe’s best regulators like FCA and BaFin. But also, the company doesn’t have regulation of the US CFTC or Australian ASIC. Even though they claim to have an MSB license in the US, there’s no proof of it. On top of that, they claim to be registered in 2018 and have more than $5 trillion in cumulative trading volume.
Regulators Warn About Crypto Fraud
Online swindlers are a greedy bunch, and they can’t keep it cool because they know their platforms are short-lived. That’s why they use aggressive strategies, further shortening the lifetime of their platform.
As expected, it didn’t take long for the authorities in California to notice the Lidcoin scam. DFPI has placed the firm on their list of fraudulent entities to dissuade any potential investors from depositing with the platform.
This, however, does not address the people who have already been defrauded, and lost significant amounts on the Lidcoin exchange. Now that the website is shut down, recovery of lost funds requires help from an expert. For assistance, use the live chat on our site to book a free consultation on the recovery process.
Who Are Lidcoin’s Victims?
To get proof of the company’s lies, you can just check the who.is register and you will see everything. For a company that was registered in August 2023, nobody can believe it has such numbers. Not even regulated exchanges that have been active for a decade have such records.
Luckily, research shows where are the activities of lidcoin.vip company are mostly present. Those countries are:
- United States
- Canada
- Singapore
- Malaysia
With this in mind, we would encourage you to share your opinion about this company. Otherwise, we can’t help other traders know details from the firsthand. Also, we are not able to assist you with the refund if we don’t know what happened to you.
Investment Costs With Lidcoin
Sadly, the company has quite low transparency when it comes to fees and commissions. Not even their T&Cs reveal any details about investment costs.
Consequently, everything is possible, especially with unregulated companies. But that’s exactly why we want you to read our Simplii Cryptos review. Learn some bonus tips for recognizing scams.
Bonuses
Bonus offers with crypto exchanges are quite rare. Very often, you will see such promotions with licensed companies. Yet, with this company, such features are not available. Hopefully, the Lidcoin reviews in the future will show us if there are any bonuses included in the offer.
Lidcoin Trading Features
Important to realize is that the company is not using any advanced technology or features. All the charting options are imported from the TradingView. The options the company offers are:
- Spot Trading
- Options Trading
- Perpetual Contracts
Trading Platform Avaialble
As mentioned, all the data on this company’s software is extracted from TradingView. But in general, dashboard, trading features, and modifications are only available on a web-based platform. This is not the most convenient method for crypto trading, especially if you compare it to some Tier 1 licensed exchanges.
Available Trading Assets
Generally, all the tradeable assets are presented in relation to the USDT. There are up to 40 different options available. But mostly popular ones like:
- BTC/USDT
- ETH/USDT
- IOTA/USDT
- ATOM/USDT and a few more.
Account Types
If you look at the company’s website, you won’t find any account type classification. Therefore, everyone gets the same unknown conditions. The only thing known about this company is its leverage in Perpetual trading of up to 1:200. Other fees, minimum deposit requirements, and general conditions remain unknown.
Mobile Trading App
As it seems, the company offers a downloadable mobile app. They even give the option to scan the code to download the app. However, the QR code doesn’t exist, and the app is not listed in any trusted store. Consequently, downloading such an app might cause permanent damage to your device and bank account.
Demo Account
On the positive side, the access to the platform is fully transparent. Yet, traders don’t have virtual funds to try it out. Neither to explore the conditions. But if you are looking for risk-free trading options, check out some tips from our USI Tech review.
Education
Educational programs with scam companies are the last option you will have. After all, they present you with their offer, and they are not interested in developing your skills and knowledge.
Instead, they are just up to extorting more and more money. Keep in mind that with unregulated firms, education is worthless. On top of that, Lidcoin company doesn’t offer any.
Lidcoin Withdrawal
All kinds of issues are possible with an unknown withdrawal policy and fees. Most likely, traders can request a withdrawal through the wallet. But if they will get it, it remains questionable. On top of that, the company is hiding all the relevant details.
Therefore, don’t expect withdrawals to be as smooth as you desire. In the first place, traders can expect non-existent fees and tax tricks. However, there are also verification issues that can delay the withdrawal process.
Customer Support
Another big failure of this investment company is its support. The only way to reach them is through e-mail. If the person is looking for something the company doesn’t like, they can simply ignore it. Therefore, keep looking for another firm before you lose everything.
Can I Get My Lost Crypto Assets Back?
Recovery of cryptocurrencies is already difficult thanks to the anonymity of crypto transactions. The problems are further exacerbated by the fact that the Lidcoin website is now offline and non-functional.
Our experts, however, have ample experience dealing with these exact difficulties in their line of work. Using tried and proven recovery methods, there is still a way to get your money back. Don’t delay – contact our team via the live chat, and start your recovery process before it’s too late!
FAQ Section
What is Lidcoin?
Lidcoin is a shady crypto exchange offering its services since 2023 without any ownership or legal transparency.
Is Lidcoin.vip a Legit Exchange?
Lidcoin.vip exchange is far from legitimate. They are not authorized by any authority with a Virtual Asset Service Provider license.
Can I Recover Lost Cryptocurrencies?
Recovering crypto is possible nowadays. The key is in the tools like CipherTrace that track transfers. For a detailed guide, feel free to contact our refund experts.
