BFXCoin pretends to be a crypto exchange that offers attractive trading rates and new high risk investment opportunities to the public. Their website is minimalistic and they have done a good job of pitching themselves to the crypto crowd. However, don’t let their false narratives sway you away from the truth.
This exchange is blacklisted by a lot of government authorities and the number of victims is not clearly trackable yet. In other words, they are the next closest thing to a ponzi scheme and as such, they should be avoided at any cost. Read till the end to know every aspect about this operation.
BFXCoin Regulation and Legality
We encourage all of our readers to stick with regulated entities only regardless of which asset class they might be interested in, especially in the present era. BFXCoin is an unregulated entity.
To mask their shortcomings, they do boast about the other benefits they have to offer. However, it is all a hoax and nothing matters in comparison to the safety aspect.
As retail traders, ensure that the exchange or platform you are dealing with is regulated or else things may go South quickly.
Platform
Focusing on the platform they have built, it is nothing impressive. Web based trading interface is versatile, but is not a standalone feature by any means. As we mentioned before the costs and fee structure are not clear too.
Usually unregulated entities like this one prefer to be ambiguous as it allows them more edge. The second you come across something like this, you should always opt to walk away.
Is BFXCoin Scam or Legit?
BFXCoin is a facade designed to extract money from unsuspecting retail traders and investors. They have no licenses, no regulatory oversight or third party audits.
From liquidity to stability, nothing is guaranteed. Moreover, their intent is most likely criminal as well. So, do yourself a solid by ignoring them.
User Reviews
Information about this portal is scarce online and the entire vibe is concerning. Check out this Reddit thread, does it instill confidence in any way?
The plot of the operation is easy to see through for professionals. Unfortunately, newbies are the ones they are targeting. To safeguard your interests, make sure to do thorough background checks and never rush into investing big without understanding all the risks involved.
BFXCoin Review Conclusion
BFXCoin is a fraudulent exchange and nothing can disprove this fact. The mere reason for their existence is to loot money from users and that conflict of interest is deadly. If you are a victim of this exchange, then reach out to us via the contact form.
