BTCWorld, a website found at btcworlds.net, claims to be “the world’s leading digital currency exchange,” allowing clients to trade crypto “anytime anywhere,” covering more than 200 countries worldwide. However, this is a very new website. How can they already claim to be the world’s leading exchange? Something smells funny about them, so we have decided to write this BTCWorld Review.
BTCWorld Review – What is BTCWorld?
The services BTCWorld offers include:
- Products include one-click copy trading, trading without converting tokens, and USDC margin support.
- “Industry-leading Security” – including risk control with hot and cold wallet segregation
- “Excellent Customer Service” – with 24/7 multilingual support and 1-on-1 support for VIPs
- Their “Dedicated Derivatives Exchange” is a self-developed trading pairing system.
- They claim to be licensed in the USA, Canada, and Australia and to adhere to “strong regulatory standards.” They also claim to be listed on CMC and CoinGecko.
Next, on their homepage, there is a news section. However, the Read More links do not work.
They also claim to offer apps for iOS and Android, but the apps are not listed on AppStore or Google Play. They offer download links.
Never download apps from websites you do not trust, as they can infect your devices with malware.
Who is Behind BTC World?
No information is provided on the website. There isn’t even a contact us page, just a link to live chat and an email address: info@btcworlds.net.
Get in touch with our affiliated Bitcoin Forensic Investigators at CNC Intelligence for free by filling out the form below.
On the About page, they say that
BTCWorld was established by a group of blockchain enthusiasts with a goal of providing complete financial services for the currencies of the future.
They are dedicated “to providing safe, convenient, and diversified services to meet all crypto needs, including trading, investing, purchasing, staking, borrowing, and more” and advocate “a low-threshold, low-cost and easy-to-understand approach to allow users to take the first key step and realize simple and fast investment operations.”
Absolutely no useful information about the company or people running this website. No company name, registered address, telephone numbers, LinkedIn profiles, or even names.
BTCWorlds.net Review – Domain Information
The domain btcworlds.net was registered for one year on August 5, 2022, via the NameSilo, LLC registrar. The ownership information is hidden by a privacy service.
So obviously, this is a very new website, which has been online for just over 3 months.
According to SimilarWeb.com, as of October 2022, they are ranked 12,519,407 globally and 3,425,733 in the United States.
Semrush gives them an authority score of 1 and reveals they have 52 backlinks, but none are from legit or trustworthy websites.
BTC World Review – So is this a fraudulent website?
The sloppy design of this website points out that it was created by non-professionals.
To bring just a few examples, besides those news articles not opening as we’ve said above, the whole About page and legal documents are unoriginal and taken from other websites.
For example, on the About page, we already quoted their opening sentence: “BTCWorld was established by a group of blockchain enthusiasts to provide complete financial services for the currencies of the future.”
This original sentence was, “Bitrue was established by a group of blockchain enthusiasts to provide complete financial services for the currencies of the future.”
So obviously, this sentence, as well as others and perhaps the entire concept behind this website, were taken from Bitrue.com.
Other parts of their About text were taken from Plus500bi.com. For example, the text: “With the development of blockchain technology and the popularization of artificial intelligence technology, more and more users have an investment demand for digital assets, but due to the high entry threshold, zero-based users have no clue after the initial contact.” As well as most of the rest of the About text.
Other websites they have taken contact from include this SnapEx blog post, btccoins-contract.com, and amgpcloud.com.
Interestingly, much of their text-only appeared on the site, now defunct, crypto-thailand.online.
Btccoins-contract.com and amgpcloud.com are also defunct websites that seem to have been scammy.
The site plus500bi.com is a site that looks like it’s still under construction.
The news snippets we mentioned on btcworlds.net, by the way, are also fake. For example, according to the first news snippet,
Leading global cryptocurrency exchange BTCWorld announced the platform’s derivatives trading volume reached an all-time high of $8.69 billion as of Feb. 28, 2022 — more than 300% compared to the previous year. BTCWorld is also ranked fifth globally in terms of its trading volume, according to CoinMarketCap.
However, a quick search reveals that the original text is:
Leading global cryptocurrency exchange Bitget announced the platform’s derivatives trading volume reached an all-time high of $8.69 billion as of Feb. 28, 2022 — more than 300% compared to the previous year. Bitget is also ranked fifth globally in terms of its trading volume, according to CoinMarketCap.
And the other news snippets are also taken from CoinTelegraph.com press releases regarding Bitget.
BTCWorlds.net Reviews
By now, we are pretty sure that BTCWorlds.net is a SCAM. Still, let’s look at what others say about this website.
Search Google for “btcworlds scam” and btcworld scam” doesn’t yield many relevant results.
We could only find another btcworlds.net review, concluding that BTCWorld is a scam.
Other than that, there’s a Reddit thread posted 23 days ago titled “btcworlds.net withhold withdrawal due to tax – Need some advice.”
The person who posted this writes that his friend invited him to use the platform at btcworlds.net.
After trading for a few days, he made some gains and wanted to check if he can withdraw his earnings.
However, his request was rejected when he requested to withdraw his funds from the platform.
He spoke to customer services, and they told him he needs to pay a tax of 22% on his earnings. He relates, they gave him a warning and told him that if he did not pay the tax in 48 hours, they “will start adding 3% on the total tax daily as a fee.”
He asks the community if they think it’s a scam.
One person replied, saying, “That’s a scam. It happened to me, and I lost 15,000usd.”
We contacted the BTCWorlds.net customer support live chat and asked for their address and telephone number. They replied:
Hello, our company address is at 20-22 Wenlock Road, London, England, N1 7GU
We then asked if they have any comments about that Reddit complaint, and they closed the chat session.
By the way, we did check the address they provided, but could not find BTCWorld on the Google Maps listing for this address.
Complaints We Received
On June 30, 2023, we received the following complaint from a person who reported losing 51900 AED:
A girl named Alison asked me to engage in trading on BtcWorld.me. In response, I deposited fifty-one thousand nine hundred dirhams into my account. However, she subsequently changed my withdrawal password, and now all my funds are stuck. Here is the number she used: +44 7763 065943.
51,900 United Arab Emirates Dirhams equals 14,130.04 United States Dollars (July 1, 2023).
Here’s another complaint we received about btcworld.me from a person who reported losing $30,000:
I received a message from a woman who introduced me to btcworld.me. I created an account and transferred money into it, earning some in return. However, when I attempted to withdraw my earnings, I was told that my withdrawal password was incorrect.
Upon consulting the woman about the issue, she suggested that I must have forgotten the password and would need to deposit an additional 50% into a safe fund to reset it. Trusting her advice, I deposited the necessary amount within 24 hours. Though my password was successfully changed, I was still unable to transfer my money.
After several days of unsuccessful attempts, my password was unexpectedly altered once again. Now, I am seeking a solution to recover my funds, which amount to 30,000 dollars, currently trapped in the website http://www.btcworld.me/.
BTCWorld Review Conclusion
Thank you for reading our BTCWorld review!
While BTCWorlds.net is not promising any exceptionally high yields or anything that seems too good to be true, and they are not involved in crypto mining, we concluded that BTCWorld is a SCAM!
First, they claim to be regulated in the US, Canada, and Australia but fail to provide any evidence.
They also do not provide verifiable information such as a company name, registered address, or telephone number.
Also, their website is poorly and unprofessionally made, and parts of it are stolen from other sites.
Additionally, they offer apps not on the AppStore and Google Play, possibly malware and trojan horses.
By the way, remember how they claim to be listed on CMC and CoinGecko? That’s a lie. We checked, and they are not listed on either coinmarketcap.com or coingecko.com.
Finally, we have found complaints suggesting that the BTC World scam operates by showing profits on client accounts but squeezing additional funds in the form of taxes from them. And when we confronted them about this, they chose to disappear simply, as they will probably do when victims refuse to pay taxes.
A legitimate platform will never ask for a tax or fee, as they can simply reduce any fees from the withdrawal amount.
If you are a victim of online scams, please let us know by commenting below, and if you have lost a significant amount of money, do not lose hope. We can help you recover your funds!
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