Is Xaebit Legit or Another Scam? The Truth Revealed

Is Xaebit Legit or a Scam?

No, Xaebit is not a legitimate company. There are several red flags you can notice after reading our complete Xaebit scam broker review article. You will not find any legal information, company ownership details, registration numbers, or team details. Read the full article to know more details.

What is Xaebit?

The cryptocurrency exchange Xaebit.com bills itself as the top exchange in Europe, and you can see why. That is less likely to be the case, though, for a business that was established in October 2023, mainly because this exchange operates several brands on the same website.

Generally speaking, any clients who trade less than 30 BTC should anticipate paying 0.75% in maker and taker costs. The lower the fees are, the larger their trading volume. Thus, for makers and takers, the lowest point is 0.035% and 0.045%, respectively.

Xaebit Details

Deposits and Withdrawals

Xaebit accepts deposits through various methods, including bank transfers, credit cards, and cryptocurrency wallets. However, user reports highlight delayed or even frozen withdrawals, casting doubt on the platform’s financial stability and raising concerns about potential exit scams.

Account Types

Generally, based on the amount of trades made by traders, cryptocurrency exchanges provide a variety of investment options. In the field of cryptocurrency trading, traders are typically only motivated by enticing fees.

After having 30 BTC in trading volume, traders can advance through seven tiers on the Xaebit.com exchange to better circumstances. T&Cs also disclose the existence of a Premium account. It is therefore unknown what is needed to get there.

Red Flags and Warning Signs

Some anomalies are visible even at first glance. Firstly, as someone searching for a location to invest money, you do not want to work for a wholly opaque company. No addresses, ownership details, or legal information is disclosed.

Furthermore, the business lacks permits to operate as a Digital Asset Service Provider, particularly from Tier 1 regulators like FCA, BaFin, or ASIC. As a result, all of the terms, fees, and offers may be speculative.

The software selection of the business is one of the most important red flags regarding any investing corporation. As is evident, the sole software offered by the Xaebit.com exchange is web-based. Consequently, TradingView is used to import data and analytical tools.

Customer Complaints and Negative Reviews

A quick search online reveals a mountain of negative reviews aimed at Xaebit. Users report:

• Difficulties withdrawing funds: Many users claim their withdrawal requests are either ignored or delayed indefinitely.
• Unresponsive customer support: Complaints about unresponsive and unhelpful customer service are widespread.
• Suspicious trading activity: Some users report experiencing unusual trading activity on their accounts, raising concerns about potential manipulation.

Got Scammed by Xaebit? We Help Victims!

Unfortunately, some users have fallen victim to Xaebit’s alleged scams. If you’ve been affected, remember you’re not alone. Resources exist to help you recover your losses and seek justice:

• Report the scam to your local authorities and financial regulators.
• Seek legal counsel specializing in cryptocurrency fraud.
• Join online communities of Xaebit victims to share your experiences and support each other.

If you cannot get a good solution from them, you can get professional consultation from us for free. You will get recovery service recommendations and guidance to help you recover the lost funds.

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