Exchanging cryptocurrencies for stable instruments like silver and gold seems like a savings plan of a lifetime. You trade altcoins, get some revenue when they moon over $1, and quickly convert them to gold. Simple, right?
Well, unfortunately, it’s not that easy. There are multiple market factors that make these sorts of transactions very risky for the service provider. Most companies shy away from these exchanges, and this is exactly how the one we’re looking at today in our Vaultoro review snares their victims.
| Regulated by: | Unregulated Exchange |
| Is This Company Safe? | No, this company doesn’t have a single license for their activities, so better stay away! |
| Known Websites: | vaultoro.com |
| Have Warnings from: | N/A |
| Registered in: | UK |
| Operating since: | 2014 |
| Trading Platforms: | Web |
| Maximum Leverage: | N/A |
| Minimum Deposit: | No min deposit on BTC and ETH, other assets require a sum |
| Deposit Bonus: | N/A |
| Trading Assets: | Crypto, Precious metals |
| Free Demo Account: | No |
| How to Withdraw from This Company? | If you’re having difficulties with payouts and your assets are stuck on this site, please contact us immediately. |
Only Registered but Unregulated
The firm transparently presents their corporate information – they’re registered as Vaultoro Limited. UK Companies House database has an entry under this name with the registration number 09369786.
The company is incorporated as an information technology service, though, not as an exchange, broker or any other type of financial services provider. That’s why they didn’t obtain a license from the leading financial regulator – FCA. Louis Capital is an example of a FCA-regulated firm with minor flaws but with far better safety conditions.
The company we’re reviewing definitely needs a license as an exchange to offer services of swapping digital currencies and crypto assets for precious metals. Since they’re not properly regulated, the firm can’t be considered legit or safe.
Baiting Traders With Innovative Ideas
The vaultoro.com domain has been around since 2014, and it was purchased exclusively to host this exchange. The website remained under construction until 2015, however, after which it was directed towards these nations:
- United States
- United Kingdom
- Spain
- Italy
Vaultoro investment company has managed to attract numerous traders through their large online presence. The firm operates Facebook, Instagram, X, YouTube, Medium, and CrunchBase. All this is further backed by numerous articles, webinars and podcasts about gold-backed cryptocurrencies.
The firm leverages the idea of purchasing stable instruments like precious metals in exchange for volatile cryptos. This sort of service carries a significant amount of risk, which is why mainstream companies avoid this line of work.
Volatility doesn’t concern fraudsters in the slightest – they simply steal the coins from their clients and call it a day. Should a victim try to recover either asset, they get stonewalled. If you’ve had any similar experience, feel free to contact our legal team.
Reviews Reveal the Truth
For a company that’s been around for such a long time, there’s surprisingly few Vaultoro reviews to be found. They are most numerous on TrustPilot, where the firm has an overall rating of 2.2 stars out of only 11 reviews.
While the positive ratings are more numerous, they were all written by new customers without long-term experience. Negative comments call the company an outright scam, talking at length about the strategy used to defraud them.
Crypto and Precious Metals Fees
The Vaultoro pricing on gold and silver is averagely 2%-4% higher than the price set by the suppliers. The service of storage, insurance and auditing costs about 0.05%/month for gold and 0.125%/month for silver. Buying and selling these metals includes a 0.5% fee.
Maker and Taker fees depend on the monthly volume of a Vaultoro account and therefore range from 0.5% / 0.5% to 0.100% / and 0.375% per trade. Depositing funds in BTC is free, but other coins like ETH include a fee that varies between currencies. The same stands for the withdrawal fee, which is set to 0.00015 BTC.
Missing App, Limited Assets and More
To download the trading software, users are given two suspicious links for iOS and Android versions. One doesn’t work and the other relies on a QR code. There are mentions of Vaultoro API as well, but we couldn’t find any trace of it.
This is just the tip of the iceberg of this bad portal, so read on to learn more and bear in mind that illicit platforms like InvestoSea all have nothing to offer you.
Pseudo Trading Terminal
As previously explained, the website primarily advertises a mobile app which can’t be acquired. The link to the App Store is broken and the Android version can be downloaded via a QR code, which is something we don’t recommend.
The simplistic terminal found in the client zone allows swapping one crypto currency for another and buying gold and silver for BTC, ETH or any of the other supported crypto coins. Advanced trading technology is not found.
Range of Assets
The offer of Vaultoro crypto coins is not even close to rich or interesting. Compared to major exchanges, it doesn’t look particularly interesting.
The list of available digital currencies includes BTC, ETH, DAI, USDT, USDC, LTC and a few others. On the other hand, there’s also Gold and Silver.
Trading Accounts
Since only verified users are allowed to trade, you’re expected to confirm your identity once you sign up for the Vaultoro login. Sharing your personal information (ID, passport, credit cards) with suspicious sites, however, is not recommended.
In addition, the firm also claims to allow your account to be focused on savings plans, but the link that leads to the supposed page is dead, just like half of the website.
Diverse Withdrawal Options
There are several different kinds of withdrawal available with the company. Coins can be withdrawn through the dashboard. It supports BTC, ETH, USDT and some others.
The other way to get a payout is to request a delivery of precious metals to the trader’s home address. Local deliveries, per Terms and Conditions, may be completed by a regional merchant rather than the company.
Now, all these procedures seem well thought through, but you gotta remember you’re dealing with an unlicensed firm. Many clients complain that their cryptos never arrived, after which the firm cut communication.
Clients Say Support is Not There
Besides the option to submit a ticket to support, clients have no other way to get in touch with the client help desk. There’s also a bunch of articles that allegedly help users solve their issues but actually contacting the support office is not possible.
That means that if your request is ignored, you won’t have any other way to reach out to the customer assistance office which has already happened to others.
Don’t Hesitate – Get Help!
Have you had your funds stuck on unregulated exchange websites and you can’t seem to take them back whatever you do? It’s time to stop paying advance fees and listening to the fraudsters – seek professional chargeback support!
Our recovery specialists can help you track your stolen crypto investment and help you determine where your assets are kept. To find out more about how crypto recovery procedure works, please book a free consultation with our experts.
FAQ Section
What is Vaultoro?
It is an online fraud that baits their victims by providing a service not traditionally available with brokers.
Is Vaultoro Legit?
The company is legally registered, but lacks any license to provide their alleged service. If you are one of the defrauded investors, contact our experts.
Where is Vaultoro Located?
The company headquarters are located in Cardiff, UK according to the UK Companies House.
Source:
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