Dqsbit Review – Why To Avoid Sending Cryptos To This Exchange?

One of the first things you can notice about this exchange is its presentation as the easiest place to buy cryptos. Yet, with its low transparency, we highly doubt it’s the safest place.

In addition to poor transparency, the company offers us suspicious software solutions and has multiple dangerous websites. Find out how easily these features can harm your finances in this unbiased Dqsbit review.

Legal Info: Is Dqsbit Legit Or A Scam?

Without transparent legal details, it’s hardly believable that any firm is legit. But to be honest, if this exchange had top-tier licenses, we could trust them. Some of those are FCA, BaFin, ASIC, CFTC, etc. Of course, they don’t have any. Yet, they present us with some security features that could mislead some traders, such as insurance protection of up to $250k and secure offline storage of cryptos.

To be fair, offline storage might be the case. But that’s not something you want. This way, your cryptos have to be physically traced, and the company has all the keys. Surely, it’s not something you want to do with your crypto. 

On top of that, the company has been running multiple dangerous domains reported for suspicious software downloads and personal information stealing.

Who Are Dqsbit’s Victims?

Since 2023, when this crypto brand started, it has mainly targeted Asian countries, such as Singapore, Indonesia, Myanmar, and Malaysia. But to be fair, nobody’s safe with this fake exchange.

With this in mind, we strongly advise you to avoid downloading any suspicious software from the company’s website and to avoid connecting your crypto wallets with them. If you have already done so, get in touch with our team immediately for refund assistance.

Traders Reviews

Even though there are not many Dqsbit reviews, the ones you can find tell the bitter truth. As can be seen from Reddit comments, this fake exchange is using a wide range of tactics to extort money from traders.

The most common issue is the frozen account the company allegedly presents you with. But of course, to get access back, you have to pay some insanely high fees. Whether you pay them or not, we advise you to reach out to our chargeback team as soon as possible.

Leverage, Commissions, Spreads, Fees and Taxes

Important to realize is that the Dqsbit exchange doesn’t reveal any of its trading-related costs, even though there are spot trading, perpetual, and delivery trading options. Consequently, the company can manipulate any costs it wants. But even if their fees were transparent, could they be trusted? 

Find out more about another example that we covered in the FX Paramount review.

Bonuses

Surprisingly, the Dqsbit crypto exchange offers a bonus of up to $100. Apparently, it’s to explore all other crypto assets. In reality, they’ll be navigating you to trade what they want.

Dqsbit Trading Features

With the dangerous Dqsbit app, traders shouldn’t trust any of the company’s offers. In any case, the key features are vault protection and recurring buys. But also a wide range of crypto pairs trading options.

Trading Platforms Available

Even though the company advertises Windows and MacOS desktop apps, these are not available for download. 

Instead, traders will have to satisfy themselves with poorly designed web traders. With only a few trading options available, it can’t be compared to top-tier crypto trading apps.

Available Trading Assets

With only a bit over 100 cryptocurrency pairs available, it’s hard to say this company has a good offer. Especially when you know top-tier licensed exchanges with over 1000 assets in the pool. 

In any case, some of the most popular options are: 

Account Types

Before you complete the Dqsbit login procedure, you won’t know what to expect from the company. They’ll surely try to persuade you into higher deposits. 

However, the minimum requirements and all account type options are not disclosed publicly, so be prepared for surprises.

Mobile Trading App

A similar situation as with desktop apps can be seen with a mobile app as well. However, the mobile app truly exists, but not in trusted stores. Instead, you have to download the file from this highly suspicious website. Not the smartest move to be fair.

Demo Account

With some regular trading options available, a demo account in the Dqsbit trade offer would be a good option. Yet, it’s not available. Instead, you’ll have to risk your money first. 

But if you read our PlutusLegacyTrust review, you will find out that’s not the best way around it.

Education

Of course, the company can’t offer you proper education if they want to continue scamming inexperienced traders. After traders learn how the crypto world works, they start backing out very quickly. Therefore, it’s not even surprising to see this firm not offering any educational material.

Dqsbit Withdrawal

If the Dqsbit scam company wanted to provide withdrawals, they would be licensed in the first place. On top of that, the company doesn’t have a transparent withdrawal policy, methods, fees, or processing time. You must wonder if there’s a single reason to believe you will get a withdrawal. Literally, there’s not.

Customer Support

Another important issue is a lack of transparent contact options. Or at least the ones that are not hidden behind the keyboard. Instead, you can reach this firm only via live chat and e-mail. 

But if you will get any response at all, it mostly depends on your request. If you want your money back, you may forget about their assistance.

Key Information To Consider About Dqsbit

Firstly, the company has been using dangerous and unsafe websites. Secondly, it is misleading traders about its apps, fees, and features. Lastly, it is not licensed for its services. So, the only outcome you can expect is to get scammed.

Luckily, you can do something about it as well. The key tool in such a scenario is the CipherTrace. To find out how it can benefit you in recovering your money, get in touch with our specialists today.

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