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OOOBTC Review - is it scam or safe?

OOOBTC - is ooobtc.com scam or good cryptocurrency exchange?

RATING: 2 / 5 REVIEWS OOOBTC
OOOBTC is not regulated. We cannot guarantee your money is safe.

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Trading accounts and conditions

 

Account type Leverage Fees
Standard 1:1 N/A

 

 

OOOBTC is a cryptocurrency exchange that offers trading in cryptocurrencies only, and some very obscure, at that.

 

There are not many details about where the company is located or when it was established, but we are of the impression that it is a relatively new exchange.

 

OOOBTC advantages

 

- Lots of (obscure) altcoins. OOOBTC offers trading in a lot of quite obscure altcoins like Golem, Zilika, Status, Rchain, etc. In fact, the most recognizable coin in OOOBTC’s portfolio is Ether. They can only be exchanged for each other, but not for fiat currencies.

 

- Low trading fees. OOOBTC has a relatively low trading fee of 0.25%, which is quite favorable.

 

- Transfer fees. OOOBTC says it does not charge deposit fees for cryptocurrencies and only charges the miners’ fee for crypto withdrawals. In fact, this is more or less a standard practice for most exchanges, when it comes to cryptocurrency deposits.

 

- Nice platform. OOOBTC offers a proper trading platform with charts, some indicators and some charting and analysis tools, which can be quite useful for more advanced traders.

 

 

- Wallet. OOOBTC has provided wallets for the supported altcoins, which can be very convenient, particularly for the more obscure altcoins, for which there are not many wallets available.

 

- Good safety. OOOBTC offers 2-factor authentication and encryption of the users’ information. Funds are stored in offline cold storage, which makes them inaccessible to hackers and quite secure.

 

OOOBTC disadvantages

 

- No fiat accepted. OOOBTC only offers the option to exchange the supported cryptocurrencies for each other. They cannot be sold or bought for fiat currencies.

 

- No leverage. Despite having a nice trading platform, OOOBTC does not offer leveraged trading. Those who are interested in this type of trading and do not care about owning the coins, but speculating on their prices, should rather sign up with a regulated forex broker that offers CFDs on cryptocurrencies. There the clients can trade on margin.

 

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

 

- No anonymity. OOBTC does not allow anonymous trading and clients are required to verify themselves. However, we could not find the link for verification, even though we signed up with OOOBTC. We only found information that the exchange requires a copy of an ID document and a selfie. Apparently OOOBTC works with the verification services provider Jumio.

 

- Withdrawal limits. OOOBTC says it has set withdrawal limits in order to prevent fraud and theft. New unverified accounts cannot withdraw at all. Accounts with basic verification can withdraw 0.4 (or equivalent) BTC per day. The so-called “enhanced accounts” can withdraw up to 100 (or equivalent) BTC per day with two-factor enabled.

 

- Low liquidity. Judging by the order book of OOOBTC, there is not much trading going on its platform and the liquidity is quite low.

 

Conclusion

 

OOOBTC has an interesting selection of rare altcoins and a nice trading platform with some advanced features, which makes it quite attractive. We also like the low trading and withdrawal fees that make trading on the exchange fairly advantageous.

 

What we dislike about OOOBTC is the lack of opportunity to buy and sell cryptos for fiat currencies and leveraged trading. We also did not like the fact that we could not find the user verification link and the low liquidity. The limits are also a thing we generally dislike, but in reality the “enhanced” accounts have a really high daily withdrawal limit.

 

 

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Traders` reviews for OOOBTC

Spread

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Slippage

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Requotes

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Price feed

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Platform

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Deposit/Withdraw

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Customer service

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Summary

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Avoid OOOBTC platform to trade

I tried to send my XLR coins to another platform, but they fail to make a txid, so my coins are now stuck somewhere. I reached out to support team of OOOBTC numerous times to get a clear answer. 30 hours later still no proper answer, only: Please Hold on!
So, I am now not able to trade on another platform. I see this as a very troubling thing. Don't know now what to do.
I really hope that nobody else experience this kind of issues. I feel like I am lost my grip on my fundings.

Andrej 06/16/2019

SCAM!!!

TOTALLY SCAM... avoi them...i deposited 7900 coins and i have in balance 5700 coins...and they don't answer at any question or request

artur 04/17/2019

The worst support I met

I submitted a ticket to their support on the 16/03/19 to help me with 2FA because my phone is broken I can't access my 2FA till today I haven't received help or feedback. Their service sucks

Faith Ndhlovu 04/01/2019

Scam Exchange

They delist tokens without notification, and keep your funds. This is theft!

Nathan 02/13/2019

The worst support I met

I've recently lost 0.1 BTC of expected profit because my deposit was delayed for 2 days. Transaction was completed successfully in the morning of Saturday, but altcoins came to balance only on Monday. During that period the price of coin became must cheaper. And the problem is that their support does not work on weekends! OMG, they do not work and even they are not going to work on weekends! Good luck OOOBTC, you are in my black list. Do not recommend for effective trading.

Andrew 08/27/2018
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