Wisebitcoin.com Review: Scam Crypto Broker (Avoid)

Wisebitcoin.com is a Singapore-based Crypto exchange and broker that touts deep liquidity, user-friendly trading platform and a multi-lingual customer experience.

However, this review of Wise Bitcoin intends to warn traders and investors who might have otherwise assumed that WiseBitcoin is a legitimate Crypto broker and exchange.

For those of you who would like to trade or invest in Cryptocurrency securely, this list of Forex and Cryptocurrency trading resources can be helpful. 

That said, we’ll go straight into discussing WiseBitcoin.com and why we believe there is a high chance of getting scammed or losing money if you go down this route.

WiseBitcoin Review: A dark-themed and convincing website

The website is dark in color to give the impression of class and sophistication. The company is promising a “stable and secure” trading environment.

They promise up to 50 different Cryptocurrencies in the spot and contract trading market.

As expected, the website has also listed a table showing the most popular Cryptocurrencies like BTC, ETH and Tether as well as their current volume in the market.

The platform promises to cater for both novice and experienced traders and are also boasting of 24/7 customer support.

In case a trader is sophisticated and would like a little more from this trading platform, they can use the software’s integrated trading indicators and API features.

There is an option to trade on the platform’s mobile software so that trading is able to take place from anywhere as long as there is internet connectivity.

WiseBitcoin, in a bid to appear legitimate, says that they are sponsors of FSV Mainz football team.

To manipulate the greed out of you, they’ve decided to announce that WiseBitcoin has brought back their 50% deposit bonus.

WiseBitcoin and background research of the company

Initially when they launched this company in 2018, they were doing a lot of internet marketing just like LiveTrades which fools traders and investors into depositing money which they will never see.

WiseBitcoin’s marketing efforts have since subsided because the company has acquired the kind of user traffic that it intended to get out of their marketing campaign.

My research findings discloses that most of the traffic to this website is from the East Asia part of the world. Users are mostly from China and Japan.

WiseBitcoin is also leveraging on PR news sites with the intention of gaining a lot of exposure, thus making revenue in a very short period of time.

I have not succeeded in getting to know the owner. However, the head of PR or marketing is someone called Junghwan Cho.

Why Wise Bitcoin is just a neat scam

First of all, this brokerage is not licensed in any way. The funds of their customers are never kept in a segregated bank account. This is a violation of the banking policies of legitimate brokers.

If no segregated bank accounts are involved, then all of those Visa/MasterCard deposits are going straight into the owner’s bank account.

What of the Crypto deposits? Well, Wise Bitcoin is obviously giving you their personal wallets into which all the Crypto deposits will go to.

The platform offers both demo and live accounts. The demo are rigged such that when you start simulating the market, you will get positive results but when you switch to a live account, you will start to lose money.

The Conclusion

WiseBitcoin is run by professional scammers who claim to be from Singapore. That is the plain truth.

A broker like this can easily run away with your money, and the only remedy to get back your money would be from a trusted and reliable money recovery agency. 

I’ve not seen a single user who made money with this broker/exchange. All the stories you see on the homepage are designed to make you believe that Wise Bank is legit when they are far from this.

Thanks for reading this review.