Overview of the “Cryptology” company: key information
Choosing the right exchange for working with digital assets is an important step on which much depends. By risking falling into the hands of scammers, you can lose everything you have earned. Most traders rely on reviews from other users. However, if there is no information about a cryptocurrency exchange, even after several years of active operation, it is a reason to think and possibly reconsider cooperation. In this article, we will focus on “Cryptology.” This company started its operations in 2018, but little is known about it. There are no reviews or analyses of the terms of work on their website, cryptology.com. It is time to change this situation.
Facts about the “Cryptology” company
Experienced traders always recommend paying attention to the legal registration of the company and the presence of a license for financial activities. From the official information on the cryptology.com website, it follows that the exchange is managed by the Estonian company Cypher OÜ. This is a private enterprise registered in Estonia. It is important to note that experts point out the choice by scammers of Estonia to register their firms due to weak financial controls in this country. The company has not obtained licenses from regulators and supervisory authorities, including the Central Bank of the Russian Federation. Therefore, working with them involves unpredictable risks. Reviews from other traders who have experience with suspicious platforms confirm that such a step is fraught with serious financial losses.
Information about the location of the Cryptology headquarters is available on their website: Roosikrantsi tn 2, Kesklinna Linnaosa, Tallinn, Harju County, 10119. In case of problems or conflicts, as the company does not have representations in CIS countries, influencing the resolution of the situation will be extremely difficult. Legal documents, including the user agreement, are presented exclusively in English, making it difficult for Russian-speaking clients to understand the aspects of cooperation.
Digital assets are characterized by high volatility, implying risks of losing funds while trading. This may become a key argument for the company “Cryptology” when traders face losses. It is also important to note that the financial regulator of Estonia does not control the cryptocurrency industry.
Registration procedure on cryptology.com
Registration on the Cryptology platform is a standard procedure. Users need to fill out a simple form and choose the type of account: corporate or individual. Typically, you need to provide an email address, password (twice), and country of residence. There is also the option to log in through social networks like Facebook or Google. Malicious actions of fraudsters can streamline the registration process to attract more clients.
It is important to note that the verification process on the “Cryptology” cryptocurrency exchange takes time and can be challenging to pass. Without successful identity verification, the client will not be able to withdraw funds. This is another aspect to consider.
Trading conditions on the “Cryptology” exchange
The company Cryptology claims to provide traders with favorable trading conditions. However, the choice of trading pairs is limited, and only popular cryptocurrencies are available. Furthermore, the company offers trading with leverage up to 1:100. It is also worth noting the high commissions charged from both takers and makers, reducing the percentage of profit for clients.
Deposits and withdrawals on the cryptology.com website
Replenishing an account on the cryptology.com platform is possible both in cryptocurrency and fiat money. For this, you can use cryptocurrency wallets, VISA, Mastercard bank cards, and the SEPA payment system. However, caution should be exercised when withdrawing funds, as there are restrictions and commissions, which can amount to up to 3.5% of the sum.
Reviews of the Cryptology cryptocurrency exchange
Despite the relatively long time on the market since 2018, there are not so many reviews about the Cryptology exchange. Users express complaints about technical issues, a complex interface, and authorization.
Some clients share their experiences and views on working with the cryptocurrency exchange:
Konstantin Sokolenko expressed disappointment in working with the company “Cryptology.”
Other users also share negative opinions about the exchange:
Fraud scheme on cryptology.com
The company Cryptology uses typical fraud schemes with aggressive advertising and referral programs. Managers may be polite and friendly at the beginning of cooperation, but such behavior is not a guarantee of a conscientious approach. The fraud scheme involves account blocking for violating terms with subsequent confiscation of funds. Therefore, it is important to be cautious and vigilant when cooperating with the “Cryptology” cryptocurrency exchange.
We recommend reading other articles:
- Offshore forex companies: advantages and disadvantages
- Traders: profession and work specifics
- List of Forex Brokers licensed by the Central Bank of the Russian Federation
Summary of the review of the Cryptology cryptocurrency exchange
Approach cooperation with Cryptology with extreme caution! This Estonian cryptocurrency exchange is unlikely to bring you prosperity as it is focused on profit extraction from clients. The information presented on their website is of a very questionable nature. The project’s team’s secrecy and licensing actions make their activities opaque and ambiguous. Be vigilant and do not fall for the provocations of this platform!
If you have anything to add to this review, share your experiences and feedback!
