Original Crypto Review
The broker Original Crypto is a new entity. The broker claims to be a Crypto Exchange; however, it is not. The broker provides six different account types with variable leverage levels offered on each of them. The broker only accepts Bitcoins as a payment. The fact of worry is that the broker is not regulated and operates from the overseas territory. In this Original Crypto review, we will explain all the possible pros and cons of this broker.
About Crypto Original:
The six provided trading accounts are Micro, Mini, Silver, Gold, Diamond, and VIP, with the minimum investment required of up to 0.5 BTC, 2 BTC, 10 BTC, 20 BTC, 45 BTC and above 45 BTC. The maximum leverage of 1:200, 1:300, and 1:400 are offered on these accounts, depending upon the initial investments. The information on spreads is not available in the account section. To make review unbiased, we talk about the possible advantages and disadvantages of Original Crypto.
The possible advantages include provided trading instruments. Like different cryptocurrencies, indexes, USDT, stocks, and more. While checking out the provided trading platform, we came across 0.5% of Bitcoin value of spreads on BTC/USDT crypto pair. Excessively high leverage ration of 1:200 and above are offered. However, cryptocurrencies are highly volatile, and considering this; it is not attractive. The payment can be made via two ways like Bitcoin deposition and USD deposition, which will be converted into Bitcoins afterwards.
There are many discrepancies in the presentation of this broker. The broker only provides CFDs over crypto coins and other trading instruments. However, it does not offer foreign exchange CFDs. Also, the broker represents itself as a Crypto Exchange facility. Nevertheless, we could not find any crypto wallet available.
The major disadvantage of Original Crypto is its an unlicensed and unregulated aspect. Bali LTD is the owner of this brand, and it is based in Bulgaria, and the local Financial Supervision Commission does not oversee it. The web-based trading platform is provided, and it’s an average performing. The minimum deposits required are mentioned earlier, and it is quite high. The broker also offers controversial trading bonuses that require 30 times higher trading volume to process withdrawals.
Is Original Crypto scam or legit?
The broker is offshore based and does not hold a valid license. Trading conditions are not favourable, and the initial investment is high. Original Crypto is a potential scam cryptocurrency broker.