When we first encountered netbtccoin.com, we had a feeling of deja-vu. We have seen this exact website, with identical page layout and trading conditions somewhere else. Reading the Terms of Service, one company name stood out – CRYPTO ARBY TRADE LIMITED. A known scam company that operates half a dozen similar fraudulent sites!
See the remainder of our Netbtccoin Review to find out more on how these notorious fraudsters steal money from their clients.
| Regulated by: | Unregulated |
| Is This Company Safe? | No, Netbtccoin is owned by a known scam company! |
| Known Websites: | netbtccoin.com |
| Have Warnings from: | N/A |
| Registered in: | UK (Alleged) |
| Operating since: | 2022 |
| Trading Platforms: | Web Trader |
| Maximum Leverage: | 1:5 |
| Minimum Deposit: | Dependant On Currency Used |
| Deposit Bonus: | N/A |
| Trading Assets: | Cryptocurrencies, Crypto Futures |
| Free Demo Account: | N/A |
| How to Withdraw from This Company? | Netbtccoin is operated by known fraudsters. Do not trust your money with this exchange! |
Subsidiary Of A Known Fraud
Netbtccoin is the newest in line of scam companies owned by CRYPTO ARBY TRADE LIMITED. The Russian CBR has issued an investor warning about this dangerous Financial Pyramid Scam. CRYPTO ARBY TRADE LIMITED was previously registered in the UK, but has since been dissolved.
Although the warning in question does not directly address netbtccoin.com website, the similarity in overall design, trading conditions and other details is unquestionable.
Readers be advised: we are aware of another currently active scam site owned by the same company as Netbtccoin operating under the name CEFAX.
Just like her sister companies, Netbtccoin is offering illicit services. They have no authorization by FCA, BaFIN, ASIC, FINMA, CBR or any other regulator. The company is completely unlicensed and unregulated.
The Netbtccoin Scam Is Global
Netbtccoin scam first went online in late 2022. The unlicensed operation of the Netbtccoin scam lets them offer their alleged services unrestricted by jurisdictional differences.
They are active in many areas of the world, with these nations impacted the most:
- United Kingdom
- United States
- South Africa
- India
- Nigeria
All of the companies under the CRYPTO ABBY TRADE LIMITED wing have the same principle of advertisement. They rely heavily on Boiler Room Agents to attract and involve new victims with the platform. The agents behind Netbtccoin and other scams from the same group are notorious for being incredibly persistent. Oftentimes, people would invest just to stop the constant unsolicited phone calls.
Having your deposits stolen by a fraudulent entity can be a serious financial strain. Do not hesitate to seek compensation – our legal professionals are on hand to help you out of the bind.
Fees Quickly Stack Up
At Netbtccoin, Maker and Taker fees are 0.3%for starter accounts, but are dependent on daily trading volume. The minimum executed trading volume is $5 000 to reduce these fees by 0.08%. Minimum Maker fees are 0.02%, but require an unachievable trading volume of $5 000 000 daily!
The company charges a 1% deposit fee. It might not seem much until you compare it to the industry average of 0.05%. Withdrawals are available only in crypto coins, for which the withdrawal fee is 0.000034BTC.
There is also the verification fee, and clients are required to pay a number of different “verification fees” of $150 each. There are no rules as to when these charges apply.
Alleged Bonuses
The client dashboard at Netbtccoin contains a form that lets users redeem promo codes for various bonuses. Bonuses have been explicitly forbidden in many jurisdictions, including Europe and North America.
More alarming is the fact that there is no mention of bonus policies in the Terms of Service. We have seen this before with other fraudulent companies like PrimoTrade.
Trading Features Overview
Many unregulated companies offer deals that seem more lucrative than their legitimate competitors. It’s a very logical step, since companies like Netbtccoin or INVcenter have little to offer other than false promises.
Rookie traders are especially affected by these claims, as they are not yet knowledgeable enough about industry averages. There are many different caveats, so let’s examine them in more detail.
New Software Holds No Improvement
Netbtccoin offers a more advanced version of the same web trading software used by her sister scam sites.
One of the alleged improvements is the integration of social and copy trading. A live chat option was embedded into the trading page to facilitate this. Of course, the entire chat consists of bots spouting gibberish.
Otherwise, the application is as broken and dysfunctional as ever. Maybe they should have invested more resources in fixing the horrible lag times? Just a thought.
Microscopic Selection Of Coins
Allegedly, clients can swap, trade or stake around 40 different crypto coins. This is below any minimum in the industry, with many lesser known exchanges supporting tens of thousands of different coins.
Netbtccoin also offers leveraged trading of cryptocurrency futures. The advertised leverage is 1:5, which is more than what most regulators allow.
Here is what the company offers for trade:
- Cryptocurrencies (Bitcoin, Ethereum, Litecoin, DogeCoin)
- Crypto Futures (Bitcoin, Ethereum, Ripple, Cardano)
The Same Shady Trading Account
There is only a singular account type for Netbtccoin Login, and it is not available as a demo. The account benefits from fee reduction, based on the daily trading volume.
Just like other CRYPTO ARBY TRADE LIMITED scams, Netbtccoin will freeze the assets if the account balance is $500 or more. In order to unblock the assets, the clients must activate premium status.
To activate a premium account you must also buy insurance, and both of these must be paid in a single instance. This costs $500, which cannot be paid out of the remaining account balance.
Issues With Netbtccoin Withdrawals
Netbtccoin withdrawals require a premium account, which in turn requires insurance to be paid. The account needs to be verified, through a number of different verification stages each costing more than the one before.
In the end, the client just gives more money to the scammers. Knowing how the other scam sites from Netbtccoin family work, it is unlikely that the swindlers will ever allow a withdrawal. If you find yourself and your money stuck in this loop, reach out to us for help in recovering your funds.
Customer Support
The Netbtccoin customer support is available only through the live chat on the website. The clients are never connected to an actual person in this chat, and only a simple bot will answer support tickets.
This bot has been programmed to break communication when a certain keyword is used. For instance, a client that wishes to “withdraw” will be locked out of further correspondence.
The Final Opinion On Netbtccoin
Netbtccoin is the newest addition to the lineup of scam fronts by CRYPTO ARBY TRADE LIMITED. They are a known fraudulent company with an outstanding CBR warning.
Netbtccoin is not to be trusted. We have heard from many people who have been defrauded by Netbtccoin and the many other scams from the same family. Don’t leave your money to the scammers! We offer chargeback services for victims of Netbtccoin and other fraudulent cryptocurrency exchanges. You may contact us via the live chat, and book a free consultation at any time.
FAQ Section
What is Netbtccoin?
Netbtccoin is an unlicensed cryptocurrency exchange owned by a known fraudulent entity.
Where is Netbtccoin from?
It is difficult to ascertain where Netbtccoin is located. The company claims to be based in the UK, but this information is not trustworthy.
Is Netbtccoin Safe For Trading?
No, Netbtccoin is owned by a known fraudulent group. If you have invested with Netbtccoin, seek legal advice on how to recover your assets.
Source:
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