Burency.com is claiming to be the “world’s top Cryptocurrency exchange” where investors can trade Bitcoin or list tokens.
In addition to this, the company wants to help investors access “abundant methods for earning and preserving capital to increase their wealth”.
We don’t know how true this is because currently we’re only recommending Crypto trading services with a well-established reputation and not fly-by-night operations that seem legit on the surface but are actually doggy.
Burancy even claims to provide a safe and rapid way to buy Bitcoin through their supposed OTC and P2P desks.
Furthermore, they promise to provide traders with a “fully encrypted Crypto wallet that can hold fiat currency” for convenience.
Other features touted by Burency Global team include AI order machine engine, “institutional level security”, functionality and sustainability.
The question is whether or not it is safe trading Crypto using this vendor’s services.
Thankfully, our review will answer every question you may have.
Burency Global Review
Before we say anything, we need to focus on the background of this company and website.
We need to answer questions such as who the owners are, what their experience is, how reliable and trustworthy the service is etc.
Owners and company background
The owners of this website are anonymous. The only thing we know is that they are from the UK and they’ve incorporated a company to add a dose of credibility to their business.
They created the domain burency.com in June 2018. In addition to this, they’re running another “Bitcoin exchange” parallel to this one.
The other website owned and operated by these guys is burency.io.
Actually there is no real physical addresses for this company because we understand it is a virtual entity.
Furthermore, Burency Global started as an ICO. We used to condemn ICOs due to their infamous nature.
Scammers had infiltrated this niche and it turned out that almost all ICOs on the internet were a fraud, and investors ended up losing money.
After running an ICO for a while, this company decided to make a Crypto exchange.
The question is whether the site is legal and licensed.
Also, we see that the website is currently getting very good traffic.
Most of this traffic (according to Alexa) is coming from social media.
The website is currently popular in Egypt. This shows that many people are probably falling victim of the doggy services they offer.
Burency.com Global licensing
Unfortunately this exchange is unlicensed and illegal. Probably they scammed investors during the ICO phase of the illegal business.
Now they intend to scam investors by letting them “trade Bitcoin” in an illegal exchange that keeps their money.
We have no idea when the authorities will crack down on illegal exchanges like Burency.com.
You are advised not to do any business with such websites because they are fraudulent.
No reviews about this company
Beware of the fact that there are neither reviews nor testimonials from clients of this website.
We wonder why this is so because we can clearly see that they are getting decent traffic.
This is probably something that has to do with the illegal nature of this website.
Visitors who come to this website are probably worried that an anonymously owned exchange like Burency is a scam.
Whatever the case, we don’t feel comfortable enough putting our investment in this website.
Scammers have learned that they can add some credibility by registering doggy companies in the UK.
There is no credible service that can come out of this illegal website and company.
The so-called exchange plans to keep whatever the victim will send.
For example, they have a buy/sell Bitcoin feature on the homepage. This means visitors have to either send fiat or Bitcoin at some point.
The most likely thing to happen is that the exchange in the middle will definitely hold it.
They might choose to block your account or ignore you altogether.
This is why you should keep off.