Is TwenBit.com Legit or a Scam Broker?

While TwenBit presents itself as a trustworthy and secure cryptocurrency exchange platform designed for all trader levels, there are several red flags that raise concerns about its legitimacy. Let’s delve deeper into what this broker offers and why you should proceed with caution.

Here’s why this broker raises scam broker red flags:

• Lack of Transparency: There’s no information about the company’s location, founders, or regulatory licenses. This anonymity is a common characteristic of scam brokers.
• Unexceptionally High Yields: Its offer of earning up to $25 worth of crypto for simply learning about specific cryptocurrencies seems unrealistic. Reputable brokers typically don’t offer such giveaways.
• Generic Marketing: The website uses generic marketing phrases like “most trusted” and “secure” without providing any concrete evidence to support these claims.
• Limited Information on Trading Conditions: Critical details like spreads, commissions, and margin requirements are not readily available. This lack of transparency makes it difficult to assess the true cost of trading with this broker.

If you’re looking for a legitimate cryptocurrency exchange platform, it’s advisable to avoid this broker and consider reputable brokers with a strong track record.

What is TwenBit.com?

TwenBit presents itself as a user-friendly cryptocurrency exchange platform offering a variety of features, including:

• A portfolio manager to buy, sell, and track popular digital currencies.
• 2FA phone protection and vault storage with delayed withdrawals for added security.
• Support for over 350 trading pairs and a presence in over 198 countries.

TwenBit Details

Deposits and Withdrawals: The process for depositing and withdrawing funds is not clearly explained on the TwenBit website. This lack of transparency is a major red flag.

Account Types: TwenBit doesn’t disclose any information regarding account types or their features. Legitimate brokers offer various account tiers with different benefits and trading limits to cater to diverse user needs.

If you have lost money to companies like GeminiUSDT or CICAYC; please report it to us on our Report a Scam form.

Red Flags and Warning Signs

Here are some of the red flags we found with TwenBit:

• Lack of Transparency: TwenBit’s anonymity and absence of crucial information about the company and its operations raise serious concerns.
• Unrealistic Promises: The offer of earning free crypto for simply learning about certain cryptocurrencies is a tactic often used by scam brokers to lure in unsuspecting users.
• Limited Information on Trading Conditions: The lack of transparency around spreads, commissions, and margin requirements makes it difficult to assess the actual cost of trading with TwenBit.
• Generic Marketing Claims: Terms like “most trusted” and “secure” are used without any evidence to back them up.

Customer Complaints and Negative Reviews Online

Due to TwenBit’s newness, there aren’t many online reviews available yet. However, given the red flags mentioned earlier, exercising caution is highly recommended.