As can be seen, SunSwap company is not declaring transparent ownership and address information. Yet, the company has been recently developing its third version of the platform. This tells you they are expanding quickly.
But how do they manage to do that? After all, many negative reviews are pointing out this firm as a scam. So, what’s the deal? We are revealing that in this unbiased SunSwap review.
| Regulated By: | No Regulations |
| Is This Company Safe? | No |
| Known Websites: | sunswap.com; sun.io |
| Have Warnings From: | N/A |
| Registered In: | Singapore |
| Operating Since: | 2020 |
| Trading Platforms: | Web trader |
| Maximum Leverage: | N/A |
| Minimum Deposit: | N/A |
| Deposit Bonus: | N/A |
| Trading Assets: | Cryptos |
| Free Demo Account: | Not Available |
| How To Withdraw From This Company? | Considering the lack of regulations and many negative reviews claiming the company is holding client’s funds, it’s hard to believe any withdrawals are possible. In case you have trouble getting your funds out, contact us for refund advice. |
Legal Info: Is SunSwap Legit Or A Scam?
SunSwap is a decentralized crypto exchange (DEX) that has been offering its services since 2020. The governing law for any disputes, according to what’s written in the T&Cs, is one of Singapore. With this in mind, you would expect this firm to be primarily regulated by the Monetary Service Authority (MAS). Yet, they are not.
On top of that, the company doesn’t possess any other Tier 1 licenses, such as FCA, CFTC, BaFin or ASIC. Even though the company operates as DEX, regulatory oversight plays a key role in protecting clients.
Who Are SunSwap’s Victims?
Generally speaking, crypto exchanges are designed to make money transfers easier. That’s why such services are mostly available in all countries unless some specific requirements are coming from the company.
In any case, many traders coming from these countries are potential targets:
- United States
- India
- United Kingdom
- Turkiye
- Indonesia
But if you want this list expanded, let us know about your experience with this company. Ultimately, our refund team can analyze your case and offer you adequate solutions.
Traders Reviews
As can be seen, there are not many SunSwap reviews. But it’s not surprising once you see the company’s trading volume has only been $5M in the last 24 hours (according to CoinMarketCap). Also, when you realize many traders are complaining about funds stuck with this exchange, it’s hard to believe in their legitimacy.
So far, there are already 3 out of 3 negative comments on Trustpilot. On top of that, there’s a bit more detailed discussion on Reddit revealing the bitter truth. All in all, if you have trouble withdrawing funds with the SunSwap exchange, feel free to contact us for refund guidance.
Investment Costs With SunSwap
One of the key disadvantages of SunSwap crypto exchange is the lack of transparency with trading costs. This is not something you want to see from an anonymous investment firm. Therefore, we suggest you stick to licensed ones and avoid any surprises.
Also, check our XTB Empire review to find some more useful tips about investment firms.
Bonuses
Overall, the company doesn’t have any welcome bonus promotions. Currently, the company is only advertising its newest version of the platform. In any case, if you get any offers, including bonus funds, be careful with the policy.
SunSwap Trading Features
One of the main features available with this exchange is the automated liquidity provision managed by smart contracts. Thus, traders reported some issues with it on newer versions of the platform. Nevertheless, comparing this company to some more legitimate firms would be inappropriate.
Trading Platform Available
In general, the company doesn’t provide dedicated wallets or software platforms. Instead, traders have to connect one of their wallets to this web-based exchange. Accepted wallets are:
- TronLink
- WalletConnect
- Bitget Wallet
- OKX
- TokenPocket
- Ledger
Available Trading Assets
The whole idea of this exchange is to allow traders to swap cryptos without third-party interaction. But also to build a liquidity pool themselves. For this reason, the company must provide a lot of available options to attract customers. Thus, they don’t.
Besides most popular assets, traders can choose:
- SunSwap coin (SUN)
- BitTorrent (BTT)
- WINkLink (WIN) and a few more
Account Types
Since none of the fees are revealed, it’s hardly believable that traders can get any benefits for trading more money. After all, the company is not revealing what the minimum is that a client can deposit or transfer.
Mobile Trading App
Currently, mobile apps in AppStore and PlayStore are not available. But with SunSwap scam activities, it is likely nothing like that will happen in the near future. Still, readers have to keep in mind that even trusted apps can be used by shady firms. One of the examples can be found in our NovaTechFX review.
Demo Account
Since the company doesn’t offer a standard platform with charting options and analytical tools, a demo account is not even necessary. Still, guidance on how to use this exchange would be suitable.
Education
To trade in such a confusing system, like SunSwap, might be a nightmare for beginners. Therefore, educating customers to be able to understand what the company does is the key. However, SunSwap developers wouldn’t agree on that.
SunSwap Withdrawal
In general, coin swaps should be done directly on your connected wallet. Thus, for staking crypto and providing liquidity, it’s not clarified how to get the funds back to your wallet. The company also doesn’t reveal what transaction fees are.
Customer Support
One of the key disadvantages of this company is non-existent customer support. There’s a high chance they might be offering some encrypted contact options like Telegram. Thus, official support options and working hours are not disclosed. This is exactly what traders reported as a key problem in reviews while they were having withdrawal issues.
Key Information To Consider About SunSwap?
Even though the SunSwap scam exchange shows regular development, its trading volume is dropping over time. On top of that, there are numerous complaints filed by customers against this firm. That’s not surprising, considering the lack of regulatory oversight and transparency.
Ultimately, traders have far more reliable crypto exchanges available worldwide. But the first step is to recover lost crypto and think about alternative options. To get adequate advice on your next step, you can contact our refund specialists. Most importantly, the first meeting is non-obligatory and includes no charges. Contact us and book yours now.
FAQ Section
What is SunSwap?
SunSwap is a Singaporean crypto exchange offering exchanges between TRC20 Tokens on Tron.
Is SunSwap Trusted?
To sum it up, no. Primarily because of missing regulations, but also because of many complaints from customers.
What is CipherTrace?
CipherTrace is a tool that helps institutions track crypto transfers. Ultimately, it can prevent money laundering and scams. To get more information, contact our refund team.
