Although Hotcoin Global offer may be slightly less or more appealing than others, it doesn’t change the safety risks you take upon yourself when choosing an unregulated service provider. So read our Hotcoin Global review carefully, so you can fully learn about all the dangers and risks that await you at unscrupulous financial websites.
The anonymity with which Hotcoin Global website approaches you should instantaneously be a warning sign about this company. The problem with anonymous websites and service providers is the fact that their status is commonly followed by no regulation and no oversight by any authority. That leaves them with just enough space to operate under the loop and engage in crypto scam or other forms of cybercrime.
Since Hotcoin Global doesn’t publish the regulatory information on their website, we had to look by ourselves if we could find anything related to that. Although the domain has been in operation since 2017 and has a number of customers, they aren’t known as transparent and fair.
Going through the databases of major Tier 1 regulators, like FCA, CySEC, ASIC, NFA, CONSOB and CNMV didn’t bring back any results, not even in the form of a warning. However, it has solidified our doubts about this exchange platform functioning without proper authorization.
This license that we emphasize so much isn’t just a paper or a formal permit. It is a confirmation that the firm has implemented all the mandatory security measures and that it enforces standards of safety and protection that are crucial for safe investing and trading.
Because Hotcoin Global doesn’t have a warranty for that in the form of a license, you cannot trust them with any of the claims they make, especially the ones referring to safety and funds protection.
The Legal Statement published on the Hotcoin Global website indicates that the site is designed according to the laws and regulations of the Republic of Seychelles. But looking through the register of FSA of Seychelles, we couldn’t find Hotcoin Global among the regulated entities.
All the results of our investigation point at the fact that Hotcoin Global is not a regulated platform.
Looking for user experiences posted online wasn’t as prolific as we hoped it to be. You see, it may as well be that the claimed popularity of Hotcoin Global is just as fake as the services they advertise. The most reliable website for reviews is TrustPilot and the Hotcoin Global profile on there is unclaimed and only has but a several reviews posted in total. The alarming circumstance is that they’re all negative and are labeling Hotcoin Global as a scam. Take a look:
“Don’t go to this scam exchange. they block the accounts for no reason and they’re asking to wait 21 days for nothing. I sent my usdt to another exchange because hotcoin didn’t have the token I was looking for. They blocked me for security and my account is blocked. Customer service says to me “Wait patiently please”.”
“Hotcoin, hotcoins.fun is a fake trading platform that scams you out of your money. Their customer service is non existent and there are flaws on their website. Beware. SCAM ALERT.”
“Hotcoin Global is totally scam exchange, just stay away. They cheat people with different way, I also will report this issue to INTERPOL”
No other financial instrument has become as popular and as preferred as crypto. During the last few years it has experienced such a memorizable expansion that the whole world wants a taste of it. The investors have gone frantic attempting to buy and sell it for the best price possible and that has led them to many unreliable platforms.
Hotcoin Global is one suspicious website run by a bunch of greedy incognitos that are using every chance they get to convince people to invest. Crypto enthusiasts are often new to the market and have not acquired the necessary knowledge of the trading world and the risks. By far, the biggest risks are those that come with unregulated trading platforms and other financial services providers.
What these cheating individuals and companies do is employ a group of very well-trained sellers who advertise their false services as if they were the best offer on the market. Little do the unsuspecting victims know that these deposits they make are final and that no actual trading or exchanging is done in reality.
Naturally, the scam agents make their offer sound entirely the opposite. By relentlessly calling you, messaging you and emailing you, they somehow manage to become convincing and obnoxious enough that you finally invest. The fully controlled environment will even start seeming very profitable and you start believing you have a shot at earning this way. Being set up in a way that seems the most lucrative is how the Hotcoin Global scam extorts more money from you.
So beware. Anything sounding too good to be true is usually fake and prone to scam. If you need advice on this or any other concrete example of a scamming platform, contact us. You can also reach out to us if you need help restoring your investment with Hotcoin Global.
Operational since 2017, ever since the digital currencies exploded in popularity, this website has had more than enough time to develop their strategies and scam numerous investors. Reports received from the victims reveal a disturbing truth about Hotcoin Global. The data we’ve gathered indicates that this sham works on a global scale and that no one is safe. The biggest number of victims is detected in the following countries:
The platform present at Hotcoin Global for leveraged trading can hardly be called that. Bogus software seems to be all present and preferred by scam websites for its easy manipulation and control. The single chart you can watch represents the price movement but nothing guarantees its accuracy and truthfulness.
Hotcoin Global supposedly offers Basic Spot trading and Professional Spot trading. While the website doesn’t elaborate on the offer and the difference, we tried both. Let us just tell you that all Hotcoin Global did to deceive customers is to re-order the windows that their software contains. Just like that, they slapped a tag on it “profesional” like everyday investors can’t tell it’s the same bait that looks only slightly different.
One simple, rudimentary platform seems to be adjusted by Hotcoin Global to perform all orders, exchanges and trades. If it really worked, that would be admirable of a web distribution to be able to manage. However, we honestly doubt its advertised abilities and usefulness.
Besides the already mentioned Basic Spot and Professional Spot trading, Hotcoin Global has what it’s labeled as Margin Trading, ETFs, Futures Trading, Copy Trading and NFTs.
Hotcoin Global deals strictly with crypto currencies. Whether you’re looking to buy digital coins, exchange them or invest any other way, all your actions are directed at crypto trading. That wouldn’t be even half bad if only Hotcoin Global was regulated. It seemed like the idea behind the whole scheme was bad, but the fact that it’s unregulated defeats the purpose of the whole platform.
The number of digital currencies available is more than 300 and these are the most commonly traded ones: BTC, ETH, XRP, LTC, ETC, EOS, TRX, LINK, BCH, ADA, OMG, DOGE, DOT, UNI and a pile of others.
In essence, crypto derivatives exist in the form of financial contracts. As their name suggests, they derive their value from an underlying asset. In this case the underlying asset is cryptocurrency. Derivatives provide investors a higher exposure to the price changes of crypto without the investors having to directly own them. The derivatives trading at Hotcoin Global offers following options:
Copy Trading advertised at Hotcoin Global is an option in derivatives trading that allows investors to copy the strategies of other successful traders with just a click. Hotcoin Global also offers an extensive FAQ page about the entire idea of copy trading. That includes explanation on how the bonus is distributed, how the share profit is calculated, as well as the rate of return.
However, first, before obtaining a status of a trader, you need to submit a request to become one. After 1 to 3 business days, the website staff will review your request and grant you the status.
NFT stands for non-fungible token, implying its uniqueness and that it cannot be replaced by any other. Also, NFT can be anything digital, like a form of art. This makes it very attractive, especially to the younger audience that has centered their art knowledge around digital creativity. At Hotcoin Global the NFTs on offer are mainly video games. One of the popular assets are AgeOfGods, SNW-X, Faraland and others.
Hotcoin Global withdrawals are described by the clients as shady, prolonged and uncertain. This is not in the least surprising, considering the company operates as an illicit construct. Nothing stops the Hotcoin Global support and leading team from putting the money from the investments in their own pockets.
Being shady and anonymous, although indeed fast, these investments are definite and allow the crypto wallet owners to stay anonymous. This is a way for them to protect their identity and make the reverse process impossible.
If you happen to find yourself in a similar situation, we advise getting legal help in order to be able to issue a successful chargeback.
Even if you were tricked into investing with a fraudulent website, do not panic. There’s always a way to reverse the transaction and have your funds back with you shortly. The key to achieving it is seeking the right help.
Our team of chargeback specials possesses enough knowledge and experience to deal with just about any issue that may be a consequence of investing with scam platforms. So do not be afraid or ashamed. Our agents are available any hour any day to listen to your story and give you the most valuable instructions. And do not forget – every first consultation is completely free of charge!
The fees charged at Hotcoin Global are 0.20%. The withdrawal fee isn’t revealed and is only said it is adjusted to the current blockchain situation.
Yes, the platform requires KYC as the C2C transaction quota can be lifted after the KYC process is completed.
No, this platform cannot be considered safe because it falls under no legal directive and is therefore not recommended.
The post Hotcoin Global Review – Popularity Doesn’t Make Up For Lack Of Regulations appeared first on Global Fraud Protection.