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CASH2PM Review - is it scam or safe?

CASH2PM Review - is cash2pm.com scam or good cryptocurrency exchange?

RATING: 2.5 / 0 REVIEWS CASH2PM

RECOMMENDED BITCOIN BROKERS


Trading accounts and conditions

 

Account type Leverage Fees
Standard 1:1

Varies

 

 

CASH2PM is an exchange where clients can buy and sell Bitcoin, Bitcoin Cash, Litecoin, Dash and Zcoin for USD. Fiat payments can be made in cash or via electronic payment platforms.

 

We could not establish the nationality of the exchange, but it obviously targets Russian-speaking clients, as both the website and the support are in English and Russian.

 

CASH2PM Advantages

 

- Multiple payment options. CASH2PM offers a wide selection of payment methods for fiat currencies. It accepts cash payments via Western Union and MoneyGram and electronic payments via BTC-e codes, Payeer, Perfect Money, OKPAY, Paxum, Unistream, Contact and Advanced Cash, as well as bank transfers. There is no option to pay directly with a credit or debit card.

 

>> See crypto exchanges accepting credit cards <<

 

- Reasonable fees. CASH2PM charges different fees, depending on the payment method. For example, the fees for trading through Western Union and MoneyGram is 5%. For the electronic payment platforms the fees vary from 1.4% to 9% (for Paxum) and there is a minimum fee of $20.

 

- Platform. CASH2PM’s trading platform is simple and intuitive to use, but has no additional features like charts, analysis tools or order book. What we actually like about it, is that it automatically calculates the fees, depending on the several factors.

 

 

- Some Coins. We like the fact that CASH2PM offers several other cryptocurrencies, in addition to Bitcoin. Usually most exchanges limit themselves to offering Bitcoin only.

 

- Good Speed. CASH2PM strives to provide speedy exchange service. Depending on the payment method, it takes between a couple of hours (for wire transfers like Western Union and MoneyGram) and several business days for bank transfers. All orders are processed manually.

 

- Security. CASH2PM uses encrypted connections. Since it does not hold client funds, there is no need for special storage measures.

 

- No need for registration. CASH2PM automatically registers the clients who place an order. It only need a name and an e-mail.

 

- Anonymity. One can remain anonymous, if they so wish, depending on the payment method. Obviously, if a bank transfer is used, the client must provide their real name and bank details.

 

- Fraud alert. There is a section on CASH2PM’s site, called “Fraud Alert”. It warns clients to be wary of sites promising them to get rich fast and to be careful of any dubious proposals made on behalf of CASH2PM.

 

- Decent Reputation. Despite not being big and well-known, it appears that CASH2PM has a decent reputation and those who are using its services, are fairly satisfied. We did not come across many complaints or accusations of them being a scam.

 

 

CASH2PM Disadvantages

 

- No Leverage. CASH2PM, like most cryptocurrency exchanges, does not offer leveraged trading on cryptocurrencies. There are just a few exchanges who do so, but there are a lot of regulated forex brokers who are offering CFDs on some of the major cryptocurrencies for leveraged trading. This can be quite convenient for those who already have an account with such broker, as they do not need to go through client verification procedures and can trade on the already familiar trading platforms.

 

 >> See our list of regulated bitcoin forex brokers <<

 

- Transfer Limits. There are transfer limits, for some payment methods. According to CASH2PM’s site, the minimum amount one can send via Western Union is $600, for all other transfer systems there is no minimum order amount. But there is a minimum fee. The maximum order amount is $5000 in equivalent.

 

- Volatile Prices. Due to the high volatility of cryptocurrencies, CASH2PM says it cannot guarantee that a cryptocurrency exchange rate that has been fixed at the moment of placing an order will remain unchanged. The exchange rate may be actualized and recalculated in cases when the average market exchange rate has significantly changed. This way, the final amount of an order may differ from the initial amount. This can be in convenient, but, in fact, is a common practice among the exchanges.

 

 

Conclusion

 

CASH2PM is providing a simple and reliable service for exchanging several cryptocurrencies for fiat and the other way around via multiple convenient payment methods. We like the fact that one does not need to register beforehand, but is registered automatically upon placing an order.

 

The fees are quite hefty, but considering the ease of use, the speed of transactions and the option to remain anonymous, it is a small price to pay.

 

What we do not like very much is that we could not find out where the CASH2PM is located or which countries it serves, but we presume its services are available globally.

 

 

 

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Traders` reviews for CASH2PM

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