BetaCrypto has the branding of a real bitcoin image in its logo to look, authentic crypto-CFDs broker. There are four trading accounts offered to clients with different needs. It also claims to offer trading on traditional trading assets like commodities, stocks, and USD Tether. However, the initial investments required are in the form of US Dollars and raises a question. Does this broker is cryptocurrencies exchange or not? Also, other many issues this broker has and in this BetaCrypto review, we will talk of them. So stay tuned.
It provides four trading accounts as Blue, Gold, Platinum and Black. However, we can see only the required minimum deposits for each account. The trading conditions are missing from BetaCrypto’s presentation. It leads us to believe that the crypto broker BetaCrypto is hiding something. The required investment of $500, $1500, $3000, and $3000 applicable for above trading accounts respectively. The broker offers to trade on different categories that are Cryptocurrency VS Cryptocurrencies, Cryptocurrency VS USD Tether, Indexes VS Bitcoin, Commodities VS Bitcoin, and Stocks VS Bitcoin. It will attract cryptocurrency fanatic traders. The payments are accepted by various channels like Bitcoin transfer (they gets converted into USD), Bank, Credit Cards and Skrill. It is quite a variety of payment methods.
Nevertheless, the company called Golden Vision Consult LTD situated in Bulgaria is the manager of the brand BetaCrypto. Another Russsian firm and the United Kingdom-based official address also provided on the official website. The term and conditions section mentions yet another problematic sentence that reads “all the disputes and transactions are governed by Belize law”. It means there is a lot of discrepancies in the corporate status of the BetaCrypto. Besides, no financial regulator regulates this broker and is a major aspect of concern.
The broker is a Crypto CFDs provider however, it provides a basic web-based trading platform that is beneficial for foreign exchange trading. Leverages and spreads are unspecified and it is not acceptable. Also, bitcoins can not be transferred directly via blockchain and the procedure is not hassle-free. It also provides banned trading bonuses that require higher trading volume trade for the withdrawal.
Is BetaCrypto scam or legit?
The broker BetaCrypto’s corporate status is confusing and it’s an unregulated broker. Trading conditions are not displayed on the site and initial investment is high. The poor trading platform is offered for crypto trade. All in all, we can say that the broker is a potential scam cryptocurrency broker.