Digitalassetcryptocurrency

If one were to ask us to give an example of a typical illicit broker, we would probably point here to Digitalassetcryptocurrency. This firm embodies all the elements of the scammer broker and acts more as an example of this than anything else. In this regard, it is pretty informative, but in regards to anything else, it is completely worthless.

The firm does not reveal tom much of itself, but from what we got we knew that this would be a scam!

The official contact address is in the US, a country that harbors the best and most austere regulators of FX brokers in the world, resulting in, what some might call, a monopoly of FX businesses. Digitalassetcryptocurrency is not registered in the US. We have never been more sure of anything else!

Moreover, it seems that there are no legal documents anywhere on the website of this firm. This is another example of how not to proceed. The lack of legal provisions acts as a sign that Digitalassetcryptocurrency is not legal. There i no tie between user and broker, and so this opens the client to manipulation and abuse.

It's obvious that Digitalassetcryptocurrency is unlicensed, and a risk to all investments!

We strongly advise traders to trade only with regulated brokers that hold a license from renowned and severe institutions such as the FCA or CySEC. Not only do these agencies oversee operations and require regular reports from brokers registered with them, but those under their jurisdiction are members of compensation funds that cover victimized clients’ losses of up to £85 000 (FCA) and €20 000 (CySEC).

We are happy that the registration process offered by Digitalassetcryptocurrency is fast and easy, because not only does it make our job easy, but it also acts as a clear sign that the firm will take anyone in, and this means that it is desperate for users. Only money-hungry brokers find themselves in similar circumstances.

It took us seconds to enter a user area, and what we saw was an underwhelming experience that immediately spoke of just how little effort Digitalassetcryptocurrency has put into the whole thing.

The biggest issue though was the complete lack of a trading software. Just consider this for a moment: Digitalassetcryptocurrency claims to be a crypto-offering broker but has no means to offer this. What does that make Digitalassetcryptocurrency?

Without a trading software, all the trading conditions and specifications the broker has spoken of are non-applicable. The assets have no showroom, the spreads are rendered useless, and so is the leverage.

The website is available in all the languages offered by Google translate. This is another subtle sign that the broker is illicit.

DIGITALASSETCRYPTOCURRENCY LOGIN

There isn't anything to say here, except for the failure on Digitalassetcryptocurrency's part to deliver any sort of trading platform. This is probably the biggest letdown, and one of the most obvious signs that Digitalassetcryptocurrency is a complete hoax!

An alleged broker without a trading software, remains an alleged broker.

DIGITALASSETCRYPTOCURRENCY MINIMUM DEPOSIT

There is no reason to invest in a broker that does not have a trading software!

The minimum deposit requirement is $500.

The only way to invest is by means of a bitcoin wallet. Crypto deposits are the riskiest of all because they are untraceable.

There are no further deposit details revealed by the firm.

DON’T PROVIDE YOUR CREDIT CARD CVV CODE

The CVV code is the one thing that separates a buyer from a product. Without it, one cannot complete a purchase, even if him/her has given all other necessary information. By giving this detail to someone else, you are essentially inviting them to use your funds for their own means. And be warned that unregulated brokers most certainly plan to do so.

DON’T PROVIDE ACCESS TO YOUR COMPUTER AND BANK ACCOUNT VIA ANYDESK OR TEAMVIEWER

Be sure to never give AnyDesk or TeamViewer access to your PC to unverified agents. These 2 platforms allow for your PC to be taken over by a second party, often times for help or guidance, but in the case of these brokers for the sole purpose of looting your bank account(s) and personal information. However, in order to do so your consent is needed, and this is the only thing standing in the scammers’ way.

DIGITALASSETCRYPTOCURRENCY WITHDRAW TIME AND FEES

Withdrawals will most probably be unavailable due to the shady nature of Digitalassetcryptocurrency. Unregulated brokers almost never pay back their users!

The withdrawal methods are crypto, bank transfer, and PayPal. Just remember that legit brokers are prohibited from offering withdrawal methods that do not match the depositing ones. It's against AML laws!

Unfortunately, there are no further details on withdrawals that we can speak of today.

No fees have been revealed as well, and that is a huge issue, because we know for a fact that most unlicensed brokers would never miss the chance of commissioning their users out of more money!

Unlicensed brokers utilize smartly crafted tactics to keep you as invested as possible into their schemes of deception, the most popular one being the denial of your withdrawal request. The most common excuses for denying your withdraw requests are usually smart and for the most part scripted. These include but are not limited to loopholes in the T/C, asking for more deposits in order to withdraw, or just prolonging your pending withdrawal by claiming that the market will suddenly propel, multiplying your winnings by unrealistic proportions.

ACCOUNT VERIFICATION

If a broker is unlicensed, never give you ID and personal details to it, because the broker will use these details against you once you file for a chargeback. Furthermore, any allegation held against the brokerage will be easily refuted if they have in their possession a copy of your ID and proof of address.

The most important thing to note is that this broker will not return your deposit, nor will it pay your winnings. It never had this intention in the first place. The best advise is to walk away from it, and go straight for a regulated broker. The FCA and CySEC are the top non-US license issuers, and those under their gaze are bound by the law to put the security of users’ funds as pivotal priority.

HOW TO RECOVER

Filing for a chargeback is the best adviцe we could give you. Immediately contact your bank or credit card company and lay out the circumstances.

Any details you might have shared with the broker, most notably the CVV code, are sure to be used against you, thus you should swiftly cancel your credit card ASAP.

At some point or another you might stumble upon a “recovery” agent or agency that promises to retrieve all your money back. This sounds all too good to be true, and that’s because it isn’t. Before proceeding with the recovery they will ask a payment for their services. If you choose to indulge them, they will disappear with the money without a hint of remorse.

The last line of defense for these indecent folk is more like a desperate cry: often times they will comment on reviews and cite the whole ordeal as a conspiracy initiated by competitive brokers against them; at times even claiming that reviewers are anything but objective, and that no one writes good reviews. The absurdities are limitless!

BOTTOM LINE

It's simple. Digitalassetcryptocurrency is a risk to all users and a scam. All investments made in it will be lost!