The little-known but self-proclaimed Number 1 cryptocurrency exchange, Bestbity, promises to provide secure access not only to digital currency trading but also to a variety of additional opportunities. It is noteworthy that the company shares its founding date as far back as 2011, a time when such platforms were practically nonexistent, and users found each other for cryptocurrency exchanges on specialized forums. Online reviews are quite scarce for a firm that has been operating for more than 10 years. Let’s analyze what this organization is all about and whether it can be trusted.
How to Trade
To start trading on Bestbity, it is enough to register an account and fund your deposit. Traders have access not only to spot trading but also to derivatives and options; however, this depends on the level of verification. There are three such levels in total:
- First level. Assigned automatically. The client can deposit and withdraw using cryptocurrency and trade spot.
- Second. It is necessary to provide an identity document and a selfie. Copy-trading services are available.
- Third. Bestbity requires proof of residence and a total balance of at least $10,000. Users with the third level of verification gain access to P2P, futures, and fiat deposits.
Additionally, Bestbity offers staking, autotrading with bots, savings accounts, NFT marketplace, token listing, and varied tools, for example, market cap, screener, cross rates, and technical analysis.
Bestbity Vital Info
The cryptocurrency exchange boasts that it is number 1 among centralized platforms and has been operating since 2011. Such facts immediately raise suspicions because Bestbity is not present on popular crypto monitoring sites such as Coinmarketcap or Coingecko. Moreover, the domain of the site was registered only in October 2023. How could the platform operate for 12 years without a website? Seems very strange, doesn’t it?
In the user agreement, you can find the legal entity Crypto Arby Trade Limited, which is registered in the jurisdiction of the United Kingdom. And it is not a fabrication; such an organization really exists in the UK. More precisely, the company existed from July 4, 2021, to December 27, 2022, and then it was liquidated. Where is the year 2011 here? And why does Bestbity refer to a liquidated firm?
withdrawing crypto from bestbity is impossible. I am convinced of this from my personal experience. the company deceived me. it's impossible to get in touch with them because the contacts are fake.
It is hardly a safe platform... I don't see anyone writing anything about it... neither in Telegram, nor on Twitter, nor on Bitcointalk... just zero information about the crypto exchange... and this is the most reliable red flag... even the absence of a license and proper registration are not as important red flags as total anonymity, unpopularity among crypto enthusiasts...
Look at when the bestbity.com site was registered, and you will understand everything. Information about 2011 is fake, legal data is fake, this whole lying and dirty platform is fake. Such an exchange does not exist, scammers have made up everything to deceive people. A classic scam, nothing more.
Before you is a fraudulent project that exists in a whole bunch of instances. A standard scam sect with a bunch of identical sites. Similar fake crypto exchanges are created almost every day. Their task is to quickly find fools who will believe in the scam and transfer their crypto.
So just pass by. If you see a site similar to what Bestbity has, then you are facing a scam. Remember this, and do not fall for such fraud.
SCAMMERS who deceive people thanks to drawn sweet rates. Look at how much bitcoin costs them, and you will understand everything. Greedy, trusting, inexperienced investors throw in bitcoin to sell it at a sweeter price. The only problem is – depositing funds works, but withdrawal does not.
BestBity is a group of anonymous scammers who create similar websites for fake cryptocurrency exchanges. I know several similar platforms where I lost money. Here are the names Jubix, Astroxbit. If you find the official websites of these scams, you will see that they are very similar to Bestbity. It's like two peas in a pod. Most likely, some scammers create, as if Ctrl C + Ctrl V, identical sites, but change the names. It's to deceive people for money. They even have the same legal entity listed everywhere. Moreover, this company from England was closed. But the scammers don't care, they continue to deceive trusting traders and investors. You should know about this fraud scheme so that you do not give money to criminals under any circumstances.
There are both pros and cons at Bestbity. Among the advantages, one can definitely highlight a diverse service, a bunch of services, a bug bounty, a referral program, and so on. Among the disadvantages, I would highlight the low popularity of the exchange. There are very few reviews on the Internet, so I think they lied a bit about their extensive experience and being number 1 among centralized platforms.
It is better not to risk all the money, but to try working with small amounts that you will not mind losing. It's my advice. Moreover, this advice applies not only to this crypto exchange, but to all others as well. First, test with minimal amounts, and then, as you verify, increase the deposit. There are a lot of scammers and fraudsters in the crypto industry.
Understanding that BESTBITY is a scam crypto exchange is very simple. Anonymous criminals (it's by the way the first sign) tell nonsense about being the top-1 CEX and that they have been operating since 2011. I probably know only one exchange that operated at that time, the infamous Mt.Gox. There were no more exchanges at that time. So let these fools tell their fairy tales to someone else. And you don't believe anything that is written on websites and on the internet, especially if the site was created last month.
As I see it, this is a very interesting cryptocurrency exchange. Here you can not only trade cryptocurrency on the spot, but also work with futures. In addition, you can put crypto in staking or farming, and invest in bots that automatically make trades. There is an affiliate program, as an option for additional income. So Bestbity looks very good. It is also worth noting the huge list of additional tools, which includes screeners, and technical analysis. Traders can replenish the deposit using fiat, but you need to go through KYC. Launchpad, p2p, NFT, and even debit cards can be ordered, as I understood. In short, there is a lot of functionality and opportunities. I will try the platform in a few weeks. The only thing I don’t know is whether Bestbity is safe or not. I can’t say anything here.
Please help me withdraw money from here. bestbity turned out to be scammers who deliberately inflate cryptocurrency rates on their platform so that fools like me think that they will now get rich with the help of arbitrage. The fact is that on this fake platform, the bitcoin rate is 10% more profitable than on other exchanges, the same applies to other cryptocurrencies.
I bought 0.2 BTC on Binance for about $34K. Then I transferred it to bestbity, as the rate there was over $37K, I sold it, receiving USDT, but now I cannot withdraw Tether. I write letters to all the specified email addresses, but to no avail. I tried to find social networks to write there, but they are not there. It turns out that the exchange is not even on CoinMarketCap. So I lost money, 0.2 BTC went to the scammers. Therefore, it is always important to check the legality of a particular platform so as not to fall for a scam.