At first glance, BitUniSwap looks like a modern cryptocurrency trading platform that hosts a lot of visual cues and familiar terminologies associated with the big exchanges.
Nonetheless, the perception changes once you start taking a closer look. Continue reading to know the big red flags we found on their platform and the consequences it poses.
BitUniSwap Overview
The first thing that caught our attention was the lack of transparency present. Reputable crypto platforms always make their regulatory stance clear, showcase registration documents and other associated certifications to enhance user trust.
Coming to this platform, they are not bothered to address this aspect at all. Disclosures are minimal and information about the legal entity behind the platform is sketchy. In other words, if any dispute arises, the recovery of funds will be a long and time consuming process.
Keep in mind that even the description of services and trading mechanics are vague. Gamified approach and flashy instruments are eye-catching. However, without understanding how trades are executed, liquidity is sourced.
The entire journey mimics gambling more than trading. In the crypto space, transparency is of utmost importance, if you don’t find it, then it is always better to walk away.
Payment Methods
Deposits and withdrawal policies are not as clear as they should have been. Fee structure is also a mystery. Due to slim social proof, we don’t know whether any additional fees are present.
All in all, it is an extremely risky venture to even consider them, let alone trust them with our money.
Is BitUniSwap a Scam or not?
BitUniSwap is a sketchy platform with vague infrastructure. Regardless of which angle you look at them, they don’t have anything going for them. Plus, even the user reviews are not big enough to consider.
If they really made an impact on the industry and participated in various charities, why is it difficult to find any information about them? Isn’t the whole thing just too gloomy?
Conclusion
This platform might seem appealing at first. However, the combination of missing credentials, unclear operational details, limited user reviews and vague withdrawals means extreme caution should be exercised.
