Cryptocurrency and its market have seen a rapid development, when you search about cryptocurrency and its brokers you will get millions of answers. Despite all this development the market is still facing an increase in number of scammers. Is Cointroops which claims to be a P2P global decentralized exchange platform among the crypto scammers? Let’s get in to the details and find out the answer. Read the full Cointroops review here.
Cointroops is a peer to peer decentralized platform developed for trading in cryptocurrency which was launched in 2018. The broker has also launched its own token, named CTP token. These tokens only work in Cointrrops ecosystem only. There is no information provided regarding where the company is based and who is the owner of the website. An unusual statement has been made by the broker which has created a high suspicion. The statement reads, “Government policies keep changing for cryptocurrency space, which leads to limited use of cryptocurrency, so we made it easy for you by launching CTP token so you can enjoy the freedom of trading cryptocurrency”. It is always risky to go for the company which is working against the government policies because it could only risk your money. Moreover, there would be no authority that could provide safety to your funds. The team of Cointroops consists people from around the world but these people have not been verified yet. There is no proof to any of the claims made by the broker, and there are even hundreds of complaints that the transactions made through this platform have been stuck on hold. The broker seems not to be a legit one as the website set-up involves more than three countries two of which are high risk countries. Another big red flag is that this company has no regulatory watch dog over it which could guard the security of its client’s funds.
Is Cointroops a scam or legit broker?
Cointroops is an unregulated cryptocurrency broker. The broker has not even mentioned the country it is registered in, the broker is complete anonymous. The reviews also indicated that the broker has made many people lost their money. The claims made are also seem to be all in the air as there is no details or proofs that can back their claims. Therefore, we would suggest not to invest with this broker as it’s a scam and there is no legal authority that can safeguard your investment.