Did you come across Xtradechain exchange and wondered if it is a place where you can trade your cryptocurrencies for profit?
I’m sure that you are aware that there are many exchanges already in the industry and many more are launched every week. So this review should give you insight into what you’re about investing in with the purpose of enabling you make the right decision.
What is Xtradechain?
This is a platform that claims that it is an automated cryptocurrency and forex trading platform which guarantees its users unlimited gains. The exchange claims that it is based in Dubai and uses terms known to cryptocurrency adherents to describe its services.
Ordinarily, setting up an exchange in the decentralized economy of the cryptosphere and blockchain is not met with much resistance except in countries such as India, Pakistan and China where there is increased effort at restricting cryptocurrency news.
Blockchain Decentralization and Liberty
However, the liberty afforded by the decentralization concept has been taken advantage of by many scam sites to lure investors to make investment of their cryptocurrencies on some of these sites. The consequence of using a scam cryptocurrency exchange is that the crypto trader ends up losing any digital assets that they deposited on the exchange.
For example, this is an email that I received this morning from someone.
“Hello, my brother invested thousands dollar in S… G… , but suddenly when he opened the page they said page not found, error 404. All the money all still inside he didn’t withdraw any on the dollar. It’s been three weeks now, no news no improvement from the website.
What will happen!? Is he going to lose all the money or there is others way to get at least what he has invest as capital??
Your help and answer will be highly appreciated
This is one of several emails that I receive concerning poor investment choices people make in the bid to make money on crypto investment sites. Now back to Xtradechain, we have to check what we found out so that you do not make the mistake many investors make for not asking the right questions before sending their funds to a random site.
How Does it Compare with Existing Ones?
The first thing you should know about this exchange is that is unknown. When an investment site is not backed with an online reputation, it means that you are dealing with it at the risk of your funds.
As you may have expected, Xtradechain was recently set up as seen from the Whois search result. The domain was registered on April 7, 2019 and so there are no assurances that this is a site that would be around long term.
Apparently in a bid to create an impression that this is not so, the owners of the site wrote on the site footer “2019-2024” in a bid to create the impression that the site would be around for that long.
Everyone who has understanding of how business works would tell you that no company can assuredly and convincingly say that they’ll be around for 12 months talk less 5 years.
How reliable is Xtradechain?
From what we have seen so far, it is obvious that this is not a cryptocurrency investment site that you should trust. There are many reasons for this. For example, the stats on the site are definitely fake.
When a site lies about its stats or what it does or about anything for that matter, it is an indication that it is not reliable. If it is an investment site, it is best avoided.
A look at the stats provided on the site shows that Xtradechain claims that it is available in 177 countries. It also claimed that it has 25 trading professional and 125,500 members. For a site that has been around for just 2 months, this is near miraculous.
We are all aware that even investment sites set up by big companies take some time to grow their users. A site of an unknown entity that is less than 2 months claiming so many members is a sure sign that it is a false claim.
Who is Behind it?
There are many reputable sites that do not reveal the identity of their owners, yet they are trustworthy, but when it comes to investing your funds, it is important that you conduct certain checks on a site.
Some of these checks should be to know if there is a regulatory body overseeing the activities of the site. Were they given approval to offer financial services in the country? Are there people using it who can vouch for the company?
Now note this, I’m not talking about random testimonies that could be faked, but real reputable entities that have been dealing with and trust such sites offering you financial investment services.
Xtradechain does not have the image of its team or their social profile displayed, even though some names were shown as the management team.
It is not enough for a site to write random names that people cannot link to real people. This is why it is essential that they provide proof that it is real people behind the site and not just one scammer making claims to steal funds from people.
This crypto exchange site could well have passed for an ICO site considering that it made provision for a roadmap that has no information on it.
This is quite confusing. It could also mean that the owners are confused.
Poor Quality Content Copy
The incoherence of the claims made on the site is a sure sign that the people behind it are not professionals. The grammar, though atrocious could not adequately convey the thoughts of the writer.
It is obvious that a genuine investment entity for cryptocurrencies would do better than this as seen under the “Guarantee”:
“We guarantee that all of our exchanging experts, demonstrates particularly positive delayed consequences of trading sessions in the principal uncovering time periods. So they never fizzled and you never lost any penny of your venture.”
Now, what exactly are they talking about?
For an investment site, this is one that is confusing, so there is no need to re-emphasize that no investor should send their funds to this site. They will not be managed well because whoever is behind this site does not know what they are talking about.
If they are serious, their interest is just to get you to send your digital assets to them and I assure you that it is a quick way to lose your funds. A trading site that promises unlimited gains without disclaimers and notification of the risks that you face is unreliable.
For a regulated site that shows you how to start growing your assets, please check our top recommendation.
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