Is Kiwi-coin Review a scam: Trading cryptocurrencies can be successful if traders can find a reliable platform to trade cryptocurrency to easily sell and buy crypto effectively? Kiwi coin is a bitcoin exchange platform based in New Zealand, where traders can use their local fiat currency NZD( New Zealand Dollar) to purchase bitcoin. This review on Kiwi coin will discuss features, how Kiwi Coin Works and products and services available on the platform to help traders judge whether it suits their preference or not.
Is Kiwi-coin Review a scam
Kiwi coin is an exchange platform for cryptocurrency, founded by a group of crypto enthusiasts from New Zealand, and the goal is to make bitcoin trading accessible to all. The platform wants to make a secure and anonymous environment available for buying and selling crypto coins in New Zealand.
How Does Kiwi Coin Work?
The Kiwi coin works differently compared to other crypto exchange platforms. It works more like a live order book where users can list the number of bitcoins they intend to buy or sell and the price they are asking for. Traders can place an order using one of the following ways:
- Simple Orders: Traders buy and sell bitcoin at a static price.
- Floating Orders: Traders can buy and sell bitcoin at a certain price that may change over time (within a certain limit) to show respective changes in market value.
- Advanced Orders: These buying or selling orders require traders to place their respective orders using various API programming tools.
Features of Kiwi Coin
Kiwi Coin offers the following features to its registered clients:-
- Kiwi coin is registered with the appropriate authority as a Financial service provider.
- The platform is similar to a live order book.
- Accept New Zealand Dollar(NZD) for instant deposit.
- Instant XBT within a certain limit is allowed on the exchange platform.
- Instantaneous Identity Verification.
- Transparent Deposit and withdrawal policy. The limit to withdrawal and deposit is clearly stated on the Kiwi coin exchange website.
- Rich customer support services are available through a support ticket system available 24/7 for bitcoin consultations and online support. Private and public chats are also open online for registered users.
- There is a demo account with a free test bitcoin.
- API for automated trading is available.
- 0.4% is charged as a Market-maker fee.
- 0.8% is charged as a Market-taker fee.
Kiwi coin offers the following products and services:
- Live Order Book
- API for Automated Trading
- Demo Account
- Online Public Chat
How to recognise Forex scam Online
“Holy Grail” Scam
Generally, the most difficult part of trading assets is identifying and taking advantage of the best trading opportunities available in the market. Scammers also know this, so they convince innocent investors that they will be on the road to unlimited profit if they can get their hands on a “holy grail” trading system that will work 24/7 for 365 days every year. Any software advertisement or platform that claims to have a “holy grail” trading system that will protect you from losses in the market is a scam and should be avoided at all costs.
Guaranteed Return Scam
Guaranteed Return Scam is arguably the most obvious scam scheme but still net customers. In this scam scheme, targeted investors are encouraged to join a company or service that trades the Forex market, and the victim is promised fixed guaranteed periodic profits. The fast and dynamic nature of the Forex market proves that this is a pure scam. Profits and losses are part of the Forex market and can’t be forecasted. There is no strategy of platforms that only run profits without incurring a loss in trade, and any individual or organisation, no matter how convincing they seem that promises guaranteed profit out of the Forex market, is out to separate you from your money.
How to recover funds lost to a broker scam
Here are summarised steps of how to recover your lost funds.
- Report the broker to the appropriate authorities;
- If you used your credit card to make payment, contact your bank to request the blocked transactions; request a chargeback.
- Check if the broker is registered to any regulatory body so you can report the broker to the governing body.
- Hire a competent Fund Recovery Expert experienced in a Forex broker scam to assist you in your journey towards a successful chargeback.
You can find competent Funds Recovery experts on Duolabs. Duolabs is an online platform with various services for hire such as Fund Recovery Expert, Wallet Recovery, Cryptocurrency Recovery, Data Retrieval, etc. With 500+ successful chargebacks, you can trust Duolabs to get your money back from the scammer.