WEXO (wexopay.com) is an online crypto wallet/app. This business is run by a company called UPDN ONE s.r.o., based in the Czech Republic.
However, this company is not registered with the country’s financial market regulator, which is a big issue. We shall further analyze the platform in our WEXO Review.
First, we will check the legal background of this company, i.e. the wexo license or lack thereof. The company behind the wexo crypto wallet – UPDN ONE s.r.o., is not registered with the Czech National Bank (CNB), which regulates the financial market in that country.
However, there are some complaints as well. These traders noticed some pretty shady things regarding WEXO’s business. Please do not neglect these warnings.
Unbelievable, they ask for a fingerprint for access. What a shame. Scam. Be careful and read about them on google.
I and all my references had done KYC. Now they have all been cancelled and the Wexo Tokens in my wallet have been deleted. If you delete wexo tokens today, it then deletes other coins in your wallet. It’s an unreliable app. Definitely not recommend. It’s professional scam.
Judging by the reviews on Trustpilot, WEXO has some pretty unfavorable practices. Traders complained about some deceitful bonuses and withdrawal issues. WEXO is pretty active on social media.
If you are a victim of the WEXO scam, we can help you recover your funds.
To reiterate, WEXO is blacklisted in Slovakia, per the NBS. As for the rest of the list, each country has specific regulations and WEXO is not compliant with any of them. So please avoid investing in this swindling platform.
WEXO have their own app for crypto trading. It is available on the company’s website and can be downloaded on Android and iOS phone systems. The app features a modern user-friendly interface, refined design, and full access to the world of cryptocurrencies.
The wexo app enables quick and easy purchase of cryptocurrencies with a payment card. Users can also store cryptocurrencies in the app or trade them thanks to the integrated exchange.
Crypto trading scams are dangerous. If your funds are trapped and you cannot withdraw them, contact us for help.
The wexo wallet is used to store cryptocurrencies. Obviously, the most popular crypto assets are available:
Aside from crypto tokens, there is also the wexo nft portfolio, which is available on the website, and the wexo token price range is from 50 EUR to 3,000 EUR. With the introduction of the new tokens, staking began according to modern standards with an annual appreciation of 24% in the WEXO Token.
According to WEXO’s legal documentation, funds can be deposited via three available payment methods:
The minimum deposit is 10 EUR while the maximum deposit is 10,000 EUR. WEXO also says that withdrawals may take up to 14 days from the time the instruction is given after crediting the user’s bank account, adding that “the company shall not be responsible for any further delays on the part of the financial institutions or the User in providing the necessary cooperation.”
However, deposit and withdrawal fees and wexo taxes are unknown. Reversing card transactions and wires is possible via a chargeback, i.e. recall. It can be requested at the issuing bank within 540 days of the transaction. Crypto transactions require tracking.
So WEXO is basically an unregulated Czech-based crypto wallet/app. This platform mainly targets traders living in Brazil, India, Denmark, Turkyie, and Slovakia.
In 2020, the Slovak National Bank issued a warning against WEXO, which is why we advise you to stay away from this company. If you’re having issues recovering your funds, book a free consultation with our team.
If need be, our experts can track your crypto transaction with CipherTrace. Otherwise, we will gladly guide you through the chargeback process.
Let us know if WEXO scammed you.
WEXO is a Czech-based crypto wallet/app that also offers NFTs. This platform was founded in 2019.
WEXO is definitely not safe. The NBS issued a warning against this platform. If you are a victim of this scam, call us for help.
WEXO offers its own token. The company promises users an annual percentage yield of up to 24% for locking their WEXO Token in a staking pool.
Currently, the WEXO token is worth 0.16210 EUR, according to the company’s website.
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