ByokCrypto Review – Best Tips To Recognize Crypto Scams Revealed

In the first place, ByokCrypto exchange is not transparent about ownership and headquarters information. That’s already the first sign of a scam, and we haven’t even started.

On top of that, there’s a highly suspicious platform, non-reliable support, and many other problems. Stay with us in our detailed ByokCrypto review and learn how to protect yourself from swindlers.

Legal Info: Is ByokCrypto Legit Or A Scam?

Before even checking for the company’s license, you can say they are a scam. Primarily because of hidden legal information. Secondly, because of an unprofessional website and suspicious offers.

On top of that, they are not licensed by any crypto regulator in the world. Especially not the best ones like FCA, ASIC, or CFTC. With this in mind, you can’t trust even a single detail this company presents to you. As proof of that, you can check their other brand with the exact same layout – BtECG.

Who Are ByokCrypto’s Victims?

Since the company is not transparent about its founders and registration date, we had to do a little digging. It appears that the company’s domain was registered just recently, in August 2023. If that’s the case, it’s understandable why they are hiding details. Nobody would trust a freshly registered and non-transparent company.

Yet, some scammed traders from Canada, Germany, and the United States did. But if you are one of those, don’t lose hope. Our refund team is available for consultation. The first one is free of charge. If you need it, contact us.

Investment Costs With ByokCrypto

Generally, anyone making any purchase wants to know how much it costs. The same works with trading. Unfortunately, the ByokCrypto scam company doesn’t reveal any of its fees or commissions.

Since those are unknown, what stops them from making them up? After all, without any regulatory oversight, they can do anything they want. Thus, our FXSway review will show you that transparent fees without regulations are worthless as well.

Bonuses

Another key thing to watch out for is bonuses. If the company offers any, make sure to check the policy first. Otherwise, you might end up in a trap and unable to withdraw any money. Hopefully, some ByokCrypto reviews will reveal if there are such offers included in their scamming tactics.

ByokCrypto Trading Features

The only transparent feature of this company is the spot trading platform. Besides, there are contracts, options, and wallet features available, but only for registered users. In any case, nothing that you can’t find with any other top-tier licensed exchange.

Trading Platform Available

Important to realize is that this company offers a web-based spot trading platform. With only basic features available, like pending orders and minimum charting optimization features, there’s nothing spectacular about it. It all looks like it was imported from TradingView.

Available Trading Assets

One of the rarely positive things about this company is the diversity of its assets. With almost 50 cryptocurrencies available, anyone could find suitable options.

Thus, without regulations, you can always doubt if those assets are real or fake. Besides mainly popular ByokCrypto Bitcoin offers,  some of the other options are:

• DOGE
• DOT
• IOTA
• ETC + many more

Account Types

Another big mistake of this company is not revealing minimum deposit requirements. Not even any account type classification for future clients. 

Practically, everyone trades with the same conditions, which are unknown, by the way. Starting with maker and taker fees, transaction, and withdrawal commissions.

Mobile Trading App

Surprisingly, this company claims to offer iOS and Android mobile apps. However, to get those apps downloaded, you are not doing it through reliable channels, such as AppStore or PlayStore. Instead, you are downloading something directly from the company’s website. Doesn’t sound good. 

To understand what to look for in a mobile app, check our tips from the IDealTrade review.

Demo Account

A demo account would be a nice option, knowing that none of the fees are transparent. Yet, this company’s management doesn’t think that. After all, they are not here to be your friend but to rip you off. Therefore, we suggest you stick to licensed brokers with transparent deals.

Education

With the fast development of blockchain, education about crypto investments is mandatory to be profitable. Of course, you can get lucky. But how many traders are?

However, education with this company is science fiction. If you know something about crypto, you won’t trust anything they tell you.

ByokCrypto Withdrawal

Firstly, we have to note that the company has a fairly poor withdrawal policy. There’s just a brief instruction on how to request a withdrawal. However, the most important thing is not revealed. That’s the withdrawal fee.

Therefore, you can expect a wide range of manipulation there. But before that, don’t be surprised if you have verification or AML laws issues. Those are all standard tricks illicit companies are using.

Customer Support

One of the worst things about this company is its customer service. The only contact options available are e-mail and shady web chat options. Which, by the way, sometimes doesn’t work.

If you compare them to any tier 1 licensed exchange, you will quickly realize who to trust more. Especially when it comes to support options.

Key Information To Consider About ByokCrypto

Before anything else, the company is not transparent and regulated. Everything else they are presenting to traders is consequently questionable. But even if we ignore that, they have shady software, unknown conditions, and zero security.

Once they accomplish their mission and steal as much as possible, they can easily vanish. As you can see, they are practically an anonymous company. Therefore, if you get scammed through crypto, contact our crypto experts for advice. In fact, CipherTrace could help you track down your money. Get in touch today for more details.

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