VoltCoins Review – Legal Business Running An Unregulated Crypto Exchange
VoltCoins is a brand, run and operated by a Lithuanian company – Clearcrest Inc. UAB. Registered in Lithuania, with not an overly long history of service, this crypto exchange seems like any other anonymous and hardly trustworthy provider.
Besides the website, that is not excessively informative or user-friendly, the key clue that leads us to a conclusion of VoltCoins being suspicious are the two public alerts issued against them. Although both of the warnings were issued by Canadian local regulatory authorities and not the main state institution, they still have huge value in our investigation. We’ll link you to both of them soon, so you can read them thoroughly and see what we mean when we say this crypto exchange shouldn’t be any investor’s first choice.
Keep reading this VoltCoins review and you will see how this website exactly operates and why we see no point in using crypto services provided by unregulated entities.
|Regulated by:||Not regulated|
|Is This Company Safe?||Unregulated companies are neither safe or reliable|
|Have Warnings from:||FCNB, CSA|
|Minimum Deposit:||50 EUR|
|Free Demo Account:||Not available|
|How to Withdraw from This Company?||Withdrawing capital from illicit firms is a hard process that requires legal help, so contact us for aid in fund recovery.|
Legal info: Is VoltCoins Scam or Legit?
Understanding how crypto exchanges work has to start from examining their legal status. VoltCoins is owned by a company that is registered in Lithuania. The website owners have provided the visitors with a way of checking this by publishing their registration number.
Clearcrest Inc. UAB is indeed legally registered in Lithuania, with the registration number being 306094970 and the physical address at Naugarduko st. 3-401, Vilnius, 03231, Lithuania. You can do a double check, like we did, by searching the commercial register of companies at: https://commercialregister.kompany.com/p/lt/306094970?track=sea_oss_product_regreponly&origin_uri=/commercialregister/en/sea_k01. Or you can simply search the Central Register of Lithuanian conducts: https://www.registrucentras.lt/jar/p_en/.
To be permitted to engage in the crypto industry in Lithuania, companies need to be regulated by the state authority – the Lithuanian Bank. If you go over to the regulator’s website, and search for Clearcrest or VoltCoins among the market participants and currency exchange operators in particular, you will not find these entities to be regulated by LB.
This has reminded us to proceed with caution, as any crypto investor should too, if they are looking for the right exchange platform to invest with. Unregulated crypto service providers do not implement the necessary security standards, which ensure the safety of deposits and transactions done.
Illicit exchanges, such as this one, or, for example Atomic Wallet, are not set up in a way to provide the best service, but to earn money off your investments and losses. That’s why they do everything in their power to attract investments and then make the customers lose.
Still hopeful to find any regulation that VoltCoins could have obtained, we went through major registers, like the ones that FCA, CySEC, BaFin, ASIC and similar regulators keep. VoltCoins shows up nowhere.
The problems with the VoltCoins regulation do not end at not having a license for crypto trading. As a matter of fact, it looks like this firm offers their services without permission or authorization in a vast number of countries. Just recently, two Canadian regulators have published warnings against them:
Countries of Service
In business for a little over three years, VoltCoins has appeared in many areas. These include Canada, as evident from the warnings, as well as several other countries:
- United Kingdom
Offering clients services in countries where some of the strictest regulatory bodies operate makes VoltCoins quite brave for taking such actions. EEA is known for harsh regulatory standards revolving around the crypto market, and VoltCoins, by all means, doesn’t seem to follow these rules and directives. Otherwise they’d have a confirmation from any of the Tier 1 regulators overseeing the crypto operations.
The attractiveness of crypto keeps rising by the day. Many investors are driven by the thought of huge money moving on a daily basis, through various trades and exchanges. When they decide to give it a shot, the biggest problem they run into is choosing a regulated company.
The crypto market is still yet to be fully and properly regulated in many countries, so fraudulent companies use these legal loopholes to run illicit trading and exchange platforms. Engaging in such crypto projects almost surely leads to withdrawal problems and clients often need help from a third party to recover their investments.
If you consider yourself to be in need of legal help to resolve a similar situation, you can book a free consultation with our expert recovery team.
Traders Reviews and Comments About VoltCoins
VoltCoins isn’t overly popular among crypto investors. They apparently don’t invest much in their publicity or public image in general. The mediocre looking website witnesses that the company isn’t overly concerned with the impression they leave on potential clients. Not particularly visually attractive, the web presentation doesn’t display a single motive that you’d find strikingly beautiful or worth of attention.
The TrustPilot profile for VoltCoins has been claimed by the company and so far, it only has 16 reviews. Most of them have rated VoltCoins service as overall average:
They make things EASY. Not so obvious in this ridiculously bureaucratic world. Registration, verification, and all other procedures were all super fast. Just please add more coins!
From time to time I have a login issue. Right now the support team is working on it, but it does take some time… other than this, it is a great platform, very intuitive and snappy.
Trading Fees and Commissions
Doing business with VoltCoins isn’t much of a lucrative endeavor. The registration is swift and free, but the fees are quite high. If you intend to buy Bitcoin, the price at VoltCoins is more than 400 EUR higher than the current BTC to EUR exchange rate.
Also, depending on your payment method, the processing fee ranges from 26 EUR for bank wire transfers to 30 EUR per transaction via credit cards. Along with the handling fee, you have to pay a blockchain fee of around 3 EUR. Those are the costs for spending 200 EUR, how much is the minimum requirement. If you intend on investing more, which we do not recommend, be ready to pay significantly higher fees.
VoltCoins Trading Features
Studying this part of the VoltCoins offer showed us that nothing in particular is deserving of investors’ time and capital. Firstly, we found no sort of platform or exchange software. It could be because we couldn’t verify our profile immediately upon joining, but we were still skeptical because the website itself doesn’t mention any kind of software to be present.
The next disappointment came from the fact that the website doesn’t offer any customized account types that feature different trading options, tools and prices. Lastly, the number of currencies supported is quite limited, and is yet another aspect of VoltCoins we find to be utterly underwhelming.
To be completely straightforward, it didn’t seem like VoltCoins had a trading platform of any kind. Buying crypto currency means going through several steps. After depositing money and verifying your profile you can finally place an order. This is what we suspect to be anything even remotely connected to the actual exchange process.
Since we couldn’t get through the entire process, we can’t verify if any sort of platform could be accessed during order placement. From the website itself we didn’t get any hints about VoltChains having an actual software for processing exchanges.
Any financial service provider nowadays tries to diversify their offer and enrich their portfolio by designing distinctive account types. Sadly, that is not the case with VoltCoins. The already shallow and uninformative website doesn’t provide any additional information about any packages being available.
Traders aren’t able to choose between specific accounts with different offers, commission, or tools. Not only does this repel potential customers, but it also speaks of how lazy and sloppy VoltCoins leadership is, if they couldn’t at least work on expanding this aspect of their offer.
Following the same pattern as described above, VoltCoins doesn’t shine when it comes to available instruments, either. Instead of introducing at least several more types of digital coins, they have resorted to offering just a few of the most popular crypto currencies.
Just like Gammaron, which is a blacklisted and unregulated exchange, VoltCoins only enables buying and selling of the following tokens:
From the looks of it, VoltCoins could be only luring victims to buy these tokens and then stealing the investments. Nothing proves any actual exchange happens here. It could be the reason why VoltCoins didn’t invest much in providing more exotic currencies.
Not only can you rely on VoltCoins to throw fake exceptional investment opportunities at you, but you can also expect promises from them to help you grow your business. Because, ultimately, this illicit platform can’t offer much else but empty reassurances of something they do not, in effect, have.
Website owners, social media influencers, affiliate marketers, and SEO professionals with a strong online presence can partake in the program. After registering and verifying their company profile, representatives of businesses can enter the program and bring VoltCoins more publicity and profit. That is what these campaigns are designed for. You won’t be paid for the promotion of this scheme, and neither will you earn due credit.
How to Withdraw Crypto with VoltCoins?
Methods of transactions that seem available at VoltCoins are bank wire transfers and credit cards. But that is known to only be available for buying crypto. Because of the absence of the official Withdrawal Policy, we could only speculate about the methods, processing steps and prices involved. When the most crucial aspect of a crypto exchange is so vague and unclear, how can you put any trust in one such firm?
Nonetheless, VoltCoins proclaims to have the most secure and smoothest transfers in the whole industry. Unfortunately, any sane investor or crypto enthusiast can’t rely on shallow words and alluring promises. Much more is needed to earn a clients’ trust. Evidently, VoltCoins doesn’t excessively care about it. All this website makes sure of is applying exorbitant fees and sounding like any trader’s dream coming true.
Because of all the reasons mentioned, we expect clients of VoltCoins to have withdrawal issues. That’s why we’re here though. You can always reach out to us and count on your withdrawal being processed surely.
Getting in touch with the VoltCoins support team is not something we’re overly optimistic about. Especially if you’re dealing with issues or technical problems and you need help resolving them. The several phone numbers provided could be randomly generated numbers. The email address also seems generic and fake.
It is well known that unregulated firms are disturbingly persistent until you deposit and then their phone numbers and emails go silent. Don’t be surprised if the same happens with this one. No regulatory directive obligates them to be transparent and dedicated in their service to clients.
Conclusion On VoltCoins Exchange
The fact that they’re blacklisted and not included in any database or regulated market participants raises many questions and doubts about this exchange. We wish we could recommend it to you as an astonishing website that equips you with admirable tools and features where you can grow your wealth and enjoy crypto trading. But the more probable truth is that this illicit exchange is only focused on defrauding victims for their benefit.
It would be nothing new, or something that our expert team has dealt with already. So do not worry. If you’ve been having problems with taking back your investment or processing payouts, feel free to reach out to us. Do not allow one petty scammer to take a hold of your capital by lies and fraud. You deserve to have back what is rightfully yours. And we can help you with that. Do not forget that the first consultation is always free of charge!
What Is VoltCoins?
VoltCoins is an unregulated exchange with a shallow website, poor offer and several public warnings issued against them by financial authorities. So be at freedom to ask for our help to recover your funds stuck with this fraud.
Is VoltCoins Regulated?
Although their supposed parent company is indeed registered in Lithuania, they do not own an obligatory license for crypto exchanging business.
Are My Funds Safe With VoltCoins?
Because the firm is not regulated by a legal entity, they cannot be considered safe for investments. Better seek legal help if you need it to deal with these shady companies.