The Reality of Coinotc: A Critical Analysis and Review

Is Coin-Otc Legit or a Scam?

Coinotc.com is not a legitimate company. They have advertised their website legitimately so that no one can find out about their scam. A Coinotc.com customer complained that he had just filled out the opening account and decided not to proceed. 

Now, Coinotc.com calls him 6 times daily and threatens him to move forward. We advise you not to make any financial investments on this platform. Before starting any Bitcoin exchange trading platform, check that it has a properly regulated license.

What is Coinotc?

Coinotc.com cryptocurrency trading platform is an illegal investment platform service that scams you smartly. According to their website, they offer a safer and more accessible environment, AI algorithms to match users with best orders, and continuously bring customers profit, which is all false as we have found so many negative comments and low scores on the website. 

They have a team of 160 employees. The website claims that all digital tokens are kept within the FDIC-insured app and are up to 250,000 used per person, which is again untrue. More than 12000 currencies are traded on other trading such as bonds, commodities, derivatives, ETFs, stocks, etc.

Details about coin Otc:

If you have lost money to companies like Nasdaq or Xtraminer exchange, please report it to us on our Report a Scam form.

Deposits and  Withdrawals

Coin-otc payment methods include debit cards, wire transfers, PayPal, Apple Pay, Google Pay, and bank accounts. The withdrawal methods claim to be simple on the website, but they don’t allow users to withdraw money. As we explored more about the website and complaints, we found that their deposit rates are high, but we have not found any accurate rates. They pressured and demanded more payments for withdrawing money. They charge 7% withdrawal fees.

Account Type

They have only one account type, which is a standard-level account. The platform asks for a full name, email, birth date, government-issued ID, phone number, and address to create an account. They claim there are no fees for creating or maintaining a coin-based account, which is untrue. However, they charge a 22% tax payment to begin any account.

Red Flags and Warnings

About coin-otc scam platforms, we find many negative comments and low trust scores; we have seen from some sources that this website is getting warnings from financial authorities, but it has yet to be proven. however, before trading money on any platform, do check the red flags about the company; the following are the red flags we found about this broker:

• The owner’s identity is hidden
• The site has a low-rank
• Claims to provide benefits
• 100s of negative reviews and customer complaints
• Demands more payments
• Fake customer service

Read our carefully selected list of 100 top regulated brokers to make Safe investment decisions in legitimate companies.

Customer Complaints and Negative Reviews

When any broker trading company does fraud with their customer, the internet gets filled with negative reviews and complaints. However, the same scenario happens with this platform, which has stolen the money of their innocent customers and has filed and updated many negative coin-otc reviews about the company, some of which are: