Read our Bitoshi Exchange review to see if this crypto exchange is a scam or legit. Just to clear doubts, this is a bitoshi.org review.
Want to join the cryptocurrency bandwagon? You are definitely not the only one taking an interest in these digital currencies that are changing the entire financial landscape. They are being touted as the currency of the future and have become a valuable asset nowadays, with Bitcoin even competing with gold as a store of value. If you want to acquire these cryptocurrencies, the services of a cryptocurrency exchange are a must and you will find the market overflowing with them nowadays. But, you will also find that there are numerous shady and scam exchanges as well, so you have to be cautious every step of the way. Going through this Bitoshi review is one way of being careful.
This is due to the fact that you have to dig into a cryptocurrency exchange to know what you are dealing with. You cannot just rely on the presentation because no scam is going to advertise itself as one. Instead, they will obviously make some tall promises to attract your attention and convince you into signing up with them. Bitoshi is no different because this poses as a cryptocurrency exchange that can help you make sure and fast investments via their convenient methods of trading.
Of course, it would become apparent when you take a closer look that Bitoshi has not bothered to disclose the method they use for generating profits for their investors. But, you will not find this on the surface, due to which this review is important. There are a number of other issues the exchange has and some of these are:
No corporate background available
Before you trust any platform with your money, you need to know who they are. This means taking a look at their corporate background and their regulatory information. This is how you can distinguish scams from legitimate platforms because the former don’t offer any such information, while the latter are transparent and open. You will discover that Bitoshi falls in the former category because they do not provide any details on their website.
They claim to be owned and operated by Bitoshi LTD, but there is no such company by that name. There is no data available about the founders either, so there is absolutely no information about who you are dealing with. Other essential details that cannot be found on the Bitoshi website include a physical office address, so you don’t know where they are based much less regulated. They don’t even provide you with a phone number, or even an email that you can use to contact them for any kind of support, which is a big red flag.
There is an FAQ section on the Bitoshi website, but this doesn’t answer any of the important questions like how the platform operates, making it essentially useless.
No fund safety
If you check the requirements of the Bitoshi exchange, you will discover that they require investors to deposit a minimum of 0.01 BTC and maximum of 50 BTC. Of course, this is no small investment, so you need to know what kind of fund safety they offer. Unfortunately, there is no banking information available on the website, or any other details, which means your money will not be secure at all.
In addition, Bitoshi claims that your withdrawal transactions will be processed within 10 minutes, but there is no evidence to back this claim either.
No authentic testimonials
You only need to take one look at the testimonials on the Bitoshi website to determine they are fake. These are just stock images and nothing more and when a company has to resort to this tactic to convince people of its authenticity, you can conclude that it is the exact opposite.
As there is nothing you know about Bitoshi and the exchange cannot offer you any kind of security or assurance, it is best for you to steer clear of it altogether and find a better option.