Bitawax Review: Is Bitawax Online Trading Scam?

Now the question arises is Bitawax really help users to trade or it has several phishing practices going around? Is Bitawax Scam? Or is Bitawax a legit investment platform? and if yes what is the background story?

What is Bitawax?

It is a type of crypto trading platform. A website like Bitawax typically provides a user-friendly interface that allows users to easily manage their crypto assets and track market prices in real-time.

These platforms usually require users to create an account and go through a verification process before they can start trading. They also typically charge fees for transactions, such as trading fees and withdrawal fees.

Some platforms may also offer additional features such as margin trading, where users can trade with leverage, or staking, where users can earn rewards for holding certain cryptocurrencies.

We found the possibility of Bitawax using three illegal schemes on its platform: Phishing, Exit, and Fund Diversion Scheme.

Specification: Bitawax Reviews

• Website Name: Bitawax
• Email Id: NA.
• Contact Number: NA
• Contact Address: 264 George St, Sydney NSW 2000, Australia
• Registered Companies No.: NA.
• Plans: “We launched a promotion for new customers using a special promotional code that allows you to receive a certain amount of BTC to your Bitawax account. Maker and Taker fees on Bitawax are the same: 0.20% for regular users and 0.14% for Premium users.
• Social Media: They are not present on Social Media.
• Domain Age: 14th of October 2022
• Referral: 50% of the commission

FAQ: Bitawax Reviews

Is Bitawax Real or Fake?

The information on the website provided by Bitawax resembles many different websites currently working in the market. According to the roadmap, the company was started in 2018 but till now there is no information on userbase, company financials, and public address in proof of reserves.

Is Bitawax legit?

After researching it, we are not able to find who owns this site. The team background is not mentioned on the website. The address shared by the company is from Australia but till now there is no evidence of company registration and on-chain funds for users’ security.

Bitawax App Download

This site doesn’t have any apps. It is simply operating via a website.

Is Bitawax Scam?

All fundamental flaws that are found on a non-legit site that later turn into scams are also present on Bitawax. So, sooner or later, This particular investment website will scam people. Our opinion is simple, please do not use this site and keep a good long distance from it.

Red Flags: Bitawax Reviews

• Team information is not provided.
• Using Duplicate Content.
• Guarantee high returns without any risk. It is nothing but using a Ponzi Scheme.
• In the Era of Social Media, they are not active on social media.
• Data security is an issue as they have not guarded their website properly.
• Domain age is very new.
• The Trust Score of the website is very low.
• Other similar websites are also working online: Aezex, Bitcasx, Fasnex, Flasherex.

Bitawax Scam

• Phishing: These involve the use of fake websites, emails, or social media accounts to trick users into providing personal information or funds.

• Exit: This is when a trading platform suddenly shuts down and disappears with users’ funds.
• Fund Diversion Scheme: This kind of scam was done by some trading platforms previously, where they acquire your orders on their website and divert it to some big exchange. After a certain volume of transactions they stop diverting the funds and keep funds in their pockets.

Conclusion

In last we want to say that keep yourself away from bad websites like Bitawax. It is not a legit online site to trade cryptocurrency. Never ever share your information with unknown websites, they use your data to steal your money or misuse it in some other unscrupulous activity.