Beware! Lsxcoin is an offshore broker! Your investment may be at risk.
Lsxcoin Key Features
🔴 Lsxcoin services are questionable – a warning sign!
🔴 Lsxcoin was reported as a scam – a red flag!
🔴 Lsxcoin is not transparent – a red flag!
🔴 Lsxcoin creates irrational expectations – a red flag!
Lsxcoin Products and Services
Lsxcoin is promoted as a crypto exchange where you can trade, list coins and raise startup capital for new projects and ICOs. Suspiciously, we could find no detailed information about the trading service and the coin listing, with the exception of the burdensome fees to list a token – 1 BTC+ to do so. However, the more suspicious aspect is the fundraising – as you can see from the screenshot above, Lsxcoin wants a 1.5 BTC fee to help you generate capital so that you can start building your project! That's fishy!
But it's even fishier that Lsxcoin uses a so-called generic website – we've seen precisely the same layout while reviewing other suspicious schemes asking for crypto payments. One such example is Coinsgrap, and if you follow the link provided, you'll at least see how akin both logos are! However, both schemes are not precisely the same, but the similarity certainly suggests that Lsxcoin is unreliable. After all, which legit exchange will use an inferior website to promote its services!
Update: Also, note that we constantly come across other websites with similar if not identical appearances. We are pretty sure that all of these are somewhat linked to each other, so make sure to be cautious with any of these seen below:
Cryptos went to become extremely popular, and they come with tremendous profit potential, but the assets are pretty complex and a bit enigmatic for the vast majority of people. Bitcoin is still surging, and the entire crypto market is growing exponentially, but all investments carry significant risks, such as high unpredictable volatility and absence of regulation, for example. And we'd also like to emphasize the fraud risk- crypto scams are virtually everywhere. In fact, the latest trend among scammers is to create fraudulent websites offering fictitious crypto investments and mining services aimed to entice unsuspicious investors into scam settings. The fraudulent offers usually stick to the rule “sounds too good to be true”, the entity offering the services is totally anonymous, and there is no regulation whatsoever. So, based on the products and services offered alone, we can affirm that the entity under review is dangerous. You'd better avoid it.
That said, it's worth considering trendy cryptocurrency alternatives that have already proven to be reliable. For example, many cryptocurrency exchanges like Coinbase and Bitstamp already provide passive income opportunities like BTC and ETH staking, other earning opportunities, affiliate programs, so on and so forth. Both mentioned are law-abiding financial firms that operate transparently, so you won't be exposed to fraud risks if you trust them.
Lsxcoin Company and Regulation
Lsxcoin is totally anonymous, and we can't even prove it's a legal entity. With that being the case, we can confirm that Lsxcoin has no license to offer an exchange or other financial services whatsoever – the scheme reviewed is illegal, so make sure to stay away, or otherwise, you'll put money at risk.
So, the crypto service under review isn't a typical firm, and as such, it's not regulated. The absence of regulation implies that your investments will be at risk if you deposit. Moreover, you won't have access to complaint procedures or money protection schemes, so if things go wrong, you'll be the one to suffer the complete loss. Even more so, the digital coin transactions are anonymous, so if you get scammed by a shady crypto provider, you can't get your money back.
Indeed, cryptocurrency regulation has been a hot topic for a long time. The digital coins themselves are not issued or governed by central banks, but too many countries already have plans to introduce centralized cryptocurrencies. Still, Bitcoin is a peer-to-peer payment system that's considered too risky for many. However, many crypto firms are now operating with financial licenses; they are transparent, and their clients can benefit from certain customer protection measures if things go wrong. And that doesn't apply to the entity under review, which is an anonymous and most probably totally illegal enterprise that can switch off its servers, pocket clients' money and get away with the crime.
Lsxcoin Address and Contacts
|264 George St, Sydney NSW 2000, Australia – unverifiable
Lsxcoin's address is unverifiable – these people are neither registered nor physically present there. We can't say who they are and where they operate from, and on top of all that, there is no phone number provided, so we could register a lack of transparency. Such issues are always a red flag, and in this case, it further supports our view that Lsxcoin is a suspected scam!
Considering investment opportunities, transparency is always crucial. As for cryptos, you already know that Bitcoin is a peer-to-peer payment system, which is designed to protect the privacy and to provide security. However, that doesn't mean that the crypto providers should also be anonymous. After all, these people will handle your money, so you should at least know who they are and where they operate from. In fact, we need to note that some trustworthy exchanges don't reveal such information on their websites, but it's still easy to verify that businesses are legal, law-abiding companies; therefore, it's always a worrying sign if the crypto provider isn't transparent.
Lsxcoin.com Website Info
|None at the time of writing
|WHOIS Reg. Date
|Redacted for Privacy
|Redacted for Privacy
The website analysis showed evidence that Lsxcoin may as well be linked to even more scams than we thought before! Namely, the IP hosts a few suspicious schemes we reviewed, which doesn't undeniably prove there is a linkage, but it's worth noting the fact. Below, you can see the one we already covered:
Is Lsxcoin Safe?
Lsxcoin is not safe! It's an illegal and anonymous crypto exchange that's not even registered as a company. Dealing with such entities always carries risks as your money won't be protected, and if something wrong happens, you'll neither get compensation nor a refund. More so, Lsxcoin works with BTC only, meaning that there are absolutely no chargeback options available! You'd better stay away!
Scammers are always riding the trends, so it's not at the least surprising that cryptocurrency fraud is now blooming. Even more so, the high-tech nature of Bitcoin actually facilitates scams as most people don't really know how crypto works, so scammers take advantage of the lack of understanding. Indeed, the crypto scam has been here for a while, and it proved to be extremely dangerous- just recall OneCoin, which happened to be a multi-billion Ponzi scheme disguised as a revolutionary digital currency. However, scammers rarely go out of their comfort zone, so most crypto scams happen to be very similar to the typical investment fraud.
The fraudulent crypto schemes are also anonymous and illegal, while scammers introduce themselves with fake identities. There are also too many impersonators resembling the websites of valid start-up companies from where customers get redirected to other insecure fishy payment portals that may as well carry additional security risks. The cons yet again promise the moon and the stars to their victims but won't deliver a thing in the end. However, the difference between crypto and the rest of the investment scams is that people are more likely to believe that they can become rich overnight as Bitcoin has already proved to have massive profit potential. In any case, you should be very cautious when it comes to crypto, as the markets are plagued by scammers ready to take advantage of you.