The first thing traders will realize is that founders and legal entities are not disclosed. Still, the company dares to put down some insanely good numbers in the presentation. For instance, they allegedly have a $137 billion quarterly trading volume on the platform.
But some things don’t add up there. Especially if you know the company’s domain was registered in 2023 and not 2018, as they claim. Therefore, read this detailed Bufnex review if you want to keep your funds safe.
| Regulated by: | No regulations |
| Is This Company Safe? | No |
| Known Websites: | Bufnex.com |
| Have Warnings from: | N/A |
| Registered in: | N/A |
| Operating since: | 2023 |
| Trading Platforms: | Web-based platform |
| Maximum Leverage: | N/A |
| Minimum Deposit: | N/A |
| Deposit Bonus: | N/A |
| Trading Assets: | Cryptocurrencies |
| Free Demo Account: | No |
| How to Withdraw from This Company? | With too many irregularities and false statements, traders can quickly realize this company won’t allow any withdrawals whatsoever. The first moment you feel like you are getting scammed, reach our chargeback experts for advice. |
Legal info: Is Bufnex Legit or a Scam?
Since there are no Bufnex reviews, we have to rely on common sense. Firstly, this company is not registered anywhere. Therefore, expecting them to have a DASP/VASP license would be insane. In any case, research on top-tier regulatory registers can’t hurt.
Consequently, if you follow our example and check, for instance, FCA, ASIC or BaFin database, you won’t find records of this company. Neither did any other less relevant institution issue them a license. This exchange does not have a license at all for offering crypto investment services.
Who are Bufnex’s Victims?
It’s not surprising that Bufnex exchange doesn’t have any reviews so far. After all, they have been active only for a couple of months. Still, the analytics can easily show us what countries are the most targeted ones. Those are:
- United States
- Turkiye
- France
Therefore, regardless of your residence, we encourage you to leave the first review in the comments below. But for detailed refund and withdrawal guidance, book a consultation with our team. Also, don’t miss out on our tips from Coinbitio review that are definitely life savers.
Leverage, Commissions, Spreads, Fees and Taxes
Surprisingly, the company is quite conservative when it comes to sharing costs. Only maker and taker fees are disclosed, while commissions remain unknown.
In any case, regular users can expect a 0.20% fee, while Premium users can get 0.14%. Definitely not worth comparing to top-tier exchanges.
Bonuses
Overall, crypto exchanges very rarely offer bonuses. Luckily, Bufnex scam company doesn’t offer any. Just bear in mind to check the bonus conditions before accepting any deals from unlicensed firms. Of course, if you somehow end up working with them.
Bufnex Trading Features
Unfortunately, the Bufnex crypto exchange doesn’t have any advanced features. Neither do they falsely present any of those. Their best aces are fake details about the trading volume, platform security, and instrument availability. Nothing advanced in the offer whatsoever.
Trading Platforms Available
Usually, trusted exchanges tend to develop proprietary apps. Whether for desktop or mobile devices. But with scam exchanges, where nothing is a coincidence, you can expect only web traders. That’s why you won’t see any reliable software options with Bufnex company.
Available Trading Assets
Since the Bufnex trade feature is not currently working, it’s hard to check the instrument’s availability. But if what we see is the only thing they have, the offer is quite poor. Anyway, they are advertising the most popular options like:
Account Types
As mentioned, traders can choose between regular and premium accounts. The minimum deposit requirement is not revealed for any of those. Yet, there’s a clause where all traders with a balance higher than 0.25 BTC must activate a Premium account.
That’s exactly the catch to extort more money from customers. If you don’t deposit that, you won’t be able to get anything before out. Like if you would get it even if you sent them more money.
Mobile Trading App
The key disadvantage of this crypto exchange is that mobile apps are not being developed. These are essential in crypto staking and trading services. Not to mention security reasons. But for a better understanding of its importance, check our KCC Coin review.
Demo Account
Generally, access to the platform should be free. But it’s not expected that crypto exchange companies will offer any virtual funds for trading. Therefore, if you are a beginner, we suggest you opt for some Tier 1 licensed brokers first.
Education
Knowing more about cryptocurrencies would make any trader much more safer. That’s why the Bufnex crypto exchange doesn’t offer any educational packages. After all, they want to manipulate their customers as much as possible.
Bufnex Withdrawal
As can be seen, regular users won’t be able to withdraw any funds unless they upgrade to Premium. Also, there will be commissions in the withdrawal procedure. Yet, the percentages are not disclosed. Not to mention, only Premium users can have so-called “fast withdrawals.” But most likely, none of those ever happened.
Very often, scam companies will use a wide range of tricks to prevent withdrawals. But the last try will be with non-existent fees or taxes to get the last penny out of your pockets. Don’t bite it.
Customer Support
One of the huge problems that is building a bad reputation is customer support. In this case, the complete lack of it. At least for non-registered website visitors. But once you register with this investment company, you might get some shady contact details. Such as Telegram or WhatsApp, which are encrypted. In any case, nothing reliable.
Key Information To Consider About Bufnex
Bufnex Exchange is an absolutely anonymous company with zero credibility. On top of that, they are misleading traders with fake details to believe they are trusted. However, the company is not licensed, and neither is transparent about its services.
If you become a victim of this firm, the best thing you can do is request a refund immediately. If you are afraid that crypto transfers can’t be traced, contact us and see what CipherTrace can do. Book your consultation today.
FAQ Section
What is Bufnex?
Bufnex is a fake crypto exchange operating without regulations since November 2023 and not 2018 according to their presentation.
Is Bufnex a Legit Crypto Provider?
Not at all. The company doesn’t have a digital asset service provider license. Also, the company is absolutely anonymous and without any credibility.
What is CipherTrace?
CipherTrace is a tool that helps institutions track transfers on blockchain to prevent money laundering. In your case, it can help with a refund. Contact us for more information.
Source:
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