A Closer Look At The CryptoUnity Token

CryptoUnity is a Slovenian start-up that has developed an all-in-one platform designed to facilitate easy and secure entry into the world of cryptocurrency trading for beginners. That’s the company described its business.

Our CryptoUnity Review, however, focuses on another, more important, segment of this platform – safety & regulation. Read our text to learn more about CryptoUnity and its CUT token.   

Is CryptoUnity Legit or a Scam?

We shall first discuss the legal background of this entity. The company running the CryptoUnity platform is called CU Limited, founded in Slovenia. Since CU Limited is engaged in securities trading, we’re interested in the company’s regulatory status.

In Slovenia, the Securities Markets Agency (ATVP) is charged with overseeing and regulating the financial market. And since Slovenia is part of the European Economic Area (EEA), the ATVP implements the common laws and regulations of the European Securities and Markets Authority (ESMA).

So if a certain company obtains a license to operate under ESMA, it thus gains a MiFID passport, which enables it to offer services across other EU states as well. In this case, CU Limited is not registered with the ATVP, meaning that the company is unregulated.

That’s bad news. We do not recommend you invest money in unregulated crypto platforms because such entities do not adhere to established and credible regulations. Instead, find a licensed provider that’s regulated by top-tier financial authorities such as the FCA (UK), ASIC (Australia), CFTC/SEC (US), CySEC (Cyprus), MAS (Singapore), etc.

Who Are the Users of CryptoUnity?

According to godaddy.com/whois, the cryptounity org website domain was created on May 1, 2021. Since then, the crypto platform has mainly been offering services to traders residing in the following countries:

• Slovenia;
• Croatia;
• Serbia;
• Turkyie;
• Brazil.

From this list, we see that CryptoUnity is primarily interested in Balkan and Turkish traders, plus Brazilians. The data from similarweb.com shows that CryptoUnity’s website recorded a sharp decline in the number of visits in the last three months – from 74k in May to just around 12k in July.

The drop is pretty significant. Another issue we have with CryptoUnity is that there are no trader reviews for this platform, which is suspicious given that the website has been active since 2021. Other platforms that were suspicious, like canz-trades, turned out to be scams so be careful. 

If you experience issues with this platform, we can help you get your funds out of there.   

Is the CryptoUnity App Available?

The CryptoUnity app is being designed for both Android and iOS phone systems. According to the website, the app will feature an all-in-one platform, providing essential functionality in a simple and visually pleasing manner. The exchange component includes a wallet, a home screen, and a list of the available markets.

It’s beginner friendly and even offers a demo version. In addition, the company also offers the NFC CryptoUnity card. But, as the company says, the “app is the final product of our project. It is already in development and will be, in the whole, available at the beginning of 2024.”

CryptoUnity Token

The CryptoUnity token, known as CUT, is a utility token launched on the CryptoUnity platform. It has various use cases and functions within the ecosystem. Here’s an overview of the key aspects of the CryptoUnity coin:

• Utility Token;
• Benefits and Use Cases;
• Lower Fees;
• Loyalty Programs;
• Educational Access;
• Participation in ICO Presales;
• Rewards and Airdrops;
• Staking Bonuses.

The total supply of CryptoUnity cut tokens is 1,000,000,000. The tokens are allocated to different categories:

• Liquidity & Ecosystem: 20%;
• Presale Slovenia: 6%;
• Project: 19%;
• Presale Balkan: 4%;
• Team: 6%;
• Worldwide Presale: 38%;
• Private Sale: 7%.

The CUT token is an essential component of the CryptoUnity platform, providing users with access to features, benefits, and opportunities within the cryptocurrency trading and education ecosystem. 

However, we must reiterate once more that the whole platform is not regulated, just like cibfx, meaning that although these features seem appealing, issues may appear.

In case that happens, you must seek out professional help. We are willing to assist you in the fund recovery process. 

CryptoUnity Withdrawal Process

CryptoUnity did not provide any useful information regarding the payment process. If we were to guess, the company accepts payments via credit/debit cards, wire transfers, and e-wallets but we couldn’t confirm it.

The deposit and withdrawal fees are unknown as well. We suppose the company will elaborate on the whole process once the app is released but for now, we have no information.  

What’s important to mention here is that 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.

What Should I Do If I Have Issues With CryptoUnity?

CryptoUnity is an unregulated Slovenian-based crypto exchange. This platform has been designed to offer crypto storing services, buying & staking, and the company’s own unique utility token – CUT.

As for our verdict, we are not pleased by the fact that CryptoUnity is unregulated. The whole presentation and offers seem decent but the lack of trader reviews and regulation is problematic. If you’re having issues withdrawing your money, book a free consultation with our team.

Our experts can track your crypto transaction with CipherTrace or, if need be, gladly guide you through the chargeback process. You must act quickly though.

Let us know if CryptoUnity scammed you.

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