This is a question we are asked frequently. In our experience, the overwhelming majority of people who ask whether a cryptocurrency exchange platform is legitimate have encountered a fraudulent website or fake crypto trading platform.
If you are unsure whether a crypto exchange is legitimate, feel free to contact us. We can often identify common signs of a scam very quickly and are happy to provide an initial opinion free of charge.
If you have already sent cryptocurrency to the platform and it will not allow you to withdraw your funds, this is a major warning sign. This is especially true if the platform claims that you must first pay a “tax,” withdrawal fee, verification fee, or additional deposit before your funds can be released.
You should also be extremely cautious if the platform says your account must reach a certain balance or deposit threshold before withdrawals are permitted. These are common tactics used by fake cryptocurrency exchanges and investment scam platforms to convince victims to send more money.
A legitimate crypto exchange should not require repeated cryptocurrency payments before allowing you to withdraw funds that are supposedly already in your account.
