Unicoin DCX Review: All You Need to Know If Trading From Asia

Unicoin DCX presents itself as a trustworthy Asian crypto exchange in the business since 1992. If you take into consideration that Bitcoin was developed in 2009, followed by other digital coins, something is bogus right off the bat.

Read our detailed Unicoin DCX review to find out more. Let’s see why there are negative comments and low trust scores.

Is Unicoin DCX a Legitimate Crypto Exchange?

However, LFSA is a Tier 3 regulator and is considered offshore. Unlike the Central Bank of Malaysia, this province has its own rather loose laws. In addition, companies registered there have no obligation to form a compensation fund, unlike, for instance, those under an FCA license.

Therefore, if you decide to trust the company with your hard-earned money, you have no guarantees that everything will go smoothly and you will get that money back.

How Does Unicoin DCX Operate?

Unicoin DCX advertises its services primarily through social media. Their Facebook and Instagram channels promote the company’s system and offerings.

Once you register, you will be prompted to pay the minimum deposit so you can start trading, exchanging, or earning from the native UNIQ token. However, we have already elaborated on the issue of weak licensing. Therefore, there is no guarantee that anything you invest will stay safe.

The Primary Market of Unicoin DCX

Unicoin DCX mainly provides its services in Asian countries. According to traffic analysis, the company has the largest number of visits from:

Proprietary Mobile App – Your Only Software Choice

The only way to trade is through a proprietary Android and iOS mobile app. This is quite odd as it means that you cannot use your desktop or laptop, which is far more convenient as it gives you a better overview.

In addition, proprietary apps cannot be trusted. They’re built by the exchange, meaning the company has direct access to your trades and money. They can change the asset price and or your orders and manipulate the outcome.

This is why it’s always advisable to use regulated companies with trusted platforms like MT4, MT5, or cTrader. This is another way to protect your funds from scammers like Binolla.

Available Crypto Assets

The company offers crypto trading in three different markets:

Simply put, all other tokens are traded against the three. However, from their list, we understood that you don’t have that many options, with only three pairs on the BTC market and five pairs on the remaining two.

Can I Use a Demo account?

Unfortunately, the risk-free Demo account is not available. Unicoin DCX login is enabled upon account registration through their mobile app. However, if you want to test the system, you have to deposit the money first.

Their FAQ section is blank, not showing us any information about different account types or a minimum deposit. Lacking such crucial information is a red flag considering that the firm presents itself as a trustworthy regulated exchange.

Fees and Commissions

Fees depend on the token, with the company offering significant discounts for transfers in their native UNIQ. In addition to the taker and the maker fee, you have to pay a deposit and withdrawal commission plus an annual maintenance charge of $5.

This puts Unicoin DCX on the pricier side of the range. Many other competitive exchanges with Tier 1 licenses can offer you better terms.

Unicoin DCX Withdrawals

The company offers the following payment options for all countries:

However, reviews indicate that the payment processor they use for transactions is anonymous, meaning that you’re exposing your payment details to risk.

There’s a withdrawal fee of $1.5 per transaction in addition to the fees charged by your bank. Therefore, it’s also pricey and unfavorable. Finally, there have been some comments indicating that withdrawal requests were denied without an apparent reason, which is a concerning thing.

What to Do If I Have a Problem With Unicoin DCX Wallet?

If you have any trouble with your Unicoin DCX wallet or account, you can report it to the exchange and the regulator in charge. Furthermore, you can try and file a complaint with your local authorities.

Global Fraud Protection has dedicated chargeback experts and CipherTrace crypto analysts who can help you prepare a detailed report with all the evidence. We can track and trace your digital coins and assist you in gathering all the relevant documentation.

Don’t waste time. Book your free, non-obligatory consultation today.

FAQ Section

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Unicoin DCX is a Malaysian-based crypto exchange with an offshore license in the province of Labuan. If you experience any issues with your wallet, we might be able to assist you with the matter.

Unicoin DCX provides only a proprietary mobile app for its traders.

Unicoin DCX is offering you a deposit bonus and various other promotions.

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