Currently, the coinloft.com.au brand operates under the name Global Internet Ventures Pty Ltd. The company claims to be registered in 2013, thus some registration details don’t add up.
Not only that but many more details you can find in this detailed Coin Loft review.
It also seems that the company was named earlier Rhino Loft Pty LTD. Yet, these details are not confirmed. Nevertheless, the CoinLoft exchange doesn’t have any other Tier 1 licenses like FCA, BaFin or CFTC.
Check it out for yourself before you decide to invest any money. But if you already did and can’t get it out, feel free to contact our refund team for assistance.
Important to realize is that the company only offers a couple of cryptocurrencies. They also operate without transparent legal terms and conditions, withdrawal policies and customer support. Also, they don’t have a dedicated mobile app. Yet, they promote themselves as a trusted and reliable crypto exchange.
So, they are charging you insanely high CoinLoft fees for exchanging crypto on a practically anonymous platform. Generally, something that you should avoid. But let us know what’s your experience with the company and if you need refund assistance.
Even though there are signs that the company has restrictions, seems like there are not. Since 2013 when they first registered, they spread all over the world. But mostly, their clients are coming from:
Considering mentioned CoinLoft license, we were expecting transparent insight into the exchange platform. However, the platform seems like it doesn’t exist. Once you try to get into the buying or selling page error pops up.
Another warning sign is the mssing CoinLoft mobile app. Sadly, Android and iOS users will have to access the exchange through the browser. Which is not the most convenient way.
Things are getting worse and worse. The company only offers a few crypto assets. Those are:
Unlike some licensed exchanges, CoinLoft doesn’t have an account type classification. Instead, everyone gets the same investment conditions. Thus, poor ones.
Another warning sign about this company is missing information about the fees. Generally, exchanges offer fixed maker and taker fees. But also withdrawal fees. Thus, the CoinLoft exchange didn’t bother with it. They just briefly explain how are fees constructed and what’s included. But there’s plenty of room for manipulation.
On the positive side, there is no welcome bonus available. Therefore, you don’t need to worry about malicious bonus conditions. But don’t be surprised if suddenly you get some special offers.
After analyzing all the facts, you can expect potential issues during withdrawal procedures. The company only has icons of BlockchainAustralia, Visa and MasterCard. Thus, that’s not necessarily the method you can use.
On top of all, the company doesn’t have transparent legal documents and a withdrawal policy. Overall, shady companies use that to their own advantage to prolong withdrawal procedures. Therefore, be aware of verification issues, AML laws and non-existent fees or taxes.
Since the company claims to be registered by ASIC, you should report it there first. Consequently, you can get assistance for the refund or chargeback. Depending on the funding method. In either case, our specialized team can advise you in detail about further steps.
Most importantly, towards us, you don’t have any obligations. Neither any costs for the first consultation. So, don’t wait until it’s too late. Get in touch today!
CoinLoft is an Australian-based crypto exchange operating since 2013 under questionable circumstances.
CoinLoft offers only a few cryptos: Bitcoin (BTC), Bitcoin SV (BSV), Ethereum (ETH), ChainLink (LINK), Litecoin (LTC), Ripple (XRP) and Tether (USDT).
The company doesn’t have transparent fees. Therefore, you can expect anything. But if you think it’s not genuine, contact our team to advise you on the refund process.
In general, no. The company operates with unclear license details. Also, there are numerous negative reviews pointing out various issues.
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