On the surface, this exchange seems fine and dandy. The site seems simple and easy to use, and the operators claim to offer quick exchange services with fees that are only slightly above average.

In reality, once you start a transaction, you will most likely never see your money again. Our N Exchange review will show you how this firm steals from its users either through incredibly high service costs or purposely blocked transactions.

Offshore Threat

According to the legal documents, the N Exchange crypto platform is owned and operated by NEX Holdings LTD. It isn’t explicitly revealed where this company operates from, but the same legal paper claims that Marshal Island laws have exclusive jurisdiction over the company’s operations. 

Entity with this name, incorporated with the UK Companies House doesn’t have an FCA license. Oleg Belousov, the exchange’s founder and CEO, owns another UK firm – Crypto Nexchange LTD. 

However, this entity also doesn’t own an FCA license. The same person is also linked to YOA LTD, a software development business that was previously listed on the site as the exchange’s parent firm.

Whatever the real state of things was, this monkey business is not a legitimate service provider with any license. SimpleSwap is also an offshore crypto portal that can’t be trusted. Therefore, please avoid off-the-grid shady service providers entirely.

Complicated History Obstructs Investigation

The n.exchange domain was created in 2018, but its company owner has constantly changed during its existence. During this time, the exchange’s “look and feel” did not undergo any significant change or re-branding. Indeed, the CEO of all of these companies remained the same individual.

This is a deliberate move on behalf of the fraudsters, intended to derail any investigation attempts. However, it doesn’t help attract clients to the scam. For this reason, the con also works via social networks like X, LinkedIn, CrunchBase, Medium, and YouTube.

The fraud is mostly focused on these regions:

• United States
• Netherlands
• United Kingdom
• Germany
• Canada

The main advantage of the platform, as advertised by the con artists, remains the alleged safety and security. In reality, the exchange only exists to steal money from potential clients.

Fake Review Cover-up

The negative N Exchange reviews have been piling up on various ratings portals like TrustPilot. The swindlers are trying to combat these by posting fake ratings of their own, desperate to keep the overall ratings score afloat.

This did not help them much, as the client’s confidence plummeted to only 2.5 stars. Participants in the N Exchange Reddit discussions have strong evidence that the company is using underhanded methods to obtain funds.

If you are one of thousands of people who have been defrauded by these charlatans or another scam firm like Mortimer Investment, contact our legal team. We can help you get your assets reimbursed.

Many Fees to Pay

Not all costs on this website are clarified. However, those that are published are quite high and definitely not competitive with reputable exchanges. For example, N Exchange fees for crypto-to-crypto exchanging are 3.5%. 

There is also the administrative fee of 5%, with additional costs for specific actions, but these expenses remain hidden. This is just one of the many reasons why traders shouldn’t trust this firm to handle their crypto transfers and swaps.

No Specific Tools to Talk About

Since creating the N Exchange login is a relatively quick process, we gained access to the features almost instantly. However, even without being a member, it was evident that the site had nothing particularly breathtaking to offer. The central part of the activities on this portal is the simplistic yet totally unsafe exchange terminal.

How to Exchange

Exchanging one cryptocurrency for another is done via a web terminal that isn’t quite software in the classic sense. The simplified web widget only allows you to enter the destined amount to exchange and click the button to complete the transfer. 

Of course, to be able to exchange your tokens, you first have to provide a wallet address in the user dashboard. Mobile app is to come soon allegedly. The N Exchange app isn’t the safest terminal out there, so we recommend you to switch to a more secure portal for such actions. 

Currently Supported Coins

This website offers a little under 100 assets in total. While this number isn’t negligible, there are definitely exchanges that provide access to hundreds, if not thousands, of instruments. 

Some of the more notable coins accessible through this portal are BTC, ETH, BNB, ADA, BCH, EOS, TRX, XRP, and others.

Nothing Easier Than Becoming a Member

After a quick registration, clients gain access to their profile, where they can add their wallet address and use it for exchange purposes. 

No specific steps are required before all website functions unlock. That means that all that is needed is a login without the hustle of verifying the user data and identity. As relieving as that may seem, it is also a major trap.

Money Flows One Way

As a strictly crypto-to-crypto exchange with no speculative instruments, the platform does not actually feature any withdrawal options. Clients open an account, link their crypto wallet, and get their transactions charged and credited directly to the wallet.

That’s how it should work in theory. In reality, we’ve already seen thousands of recorded N Exchange Telegram conversations which complain about the orders being charged to the wallet with no cryptos being released back.

Who Replies to Users?

Considering that the majority of victims complain about being completely ignored by the staff members, it is difficult to say that this exchange even has customer service. Of course, there’s an email and an online form to use in order to try and reach out. However, these apparently only stand there for show and are not exactly functional.

Invested With Charlatans? Get Your Money Back!

This exchange may seem like the real deal, but it is instead a complete money pit. The firm is an offshore entity that constantly changes its legal name and parent company. Nearly all of the clients have complained about having their money stolen from them in one way or another.

Unlicensed exchanges are not trustworthy companies. If you have invested any money with such a company, don’t hesitate to ask our team for help. We are available 24/7 via the live chat, and our first consultation is free of charge.

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