No Regulation

Score

0123456789.01234567890123456789
/10

Red coin

China

|

1-2 years

Suspicious Regulatory License|

Medium potential risk

https://app.excoin-red.com/#/

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Rating Index
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Red coin
https://app.excoin-red.com/#/
Influence
E

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No effective regulatory information has been founded yet, please pay attention to the risks!

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Company Name
Red coin
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WikiBit Risk Alerts

1
Previous Detection 2024-07-22

It has been verified that this Exchange currently has no valid regulation, please be aware of the risk!

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Time Machine

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User Reviews

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16 ratings

Participate in evaluation
Sorairo06
This is suspicious!!!
2023-08-23 23:43
0
Vân Min
Red coin has the potential for strong price increases but is prone to volatility. It is only supported on a few less-traded exchanges.
2024-01-08 06:09
5
Marco Rossi
The Red coin interface is easy to use and converts virtual currency quickly. Professional customer support. Ten points!
2023-09-30 09:23
2
Chad B
The online support are quick to respond before depositing money but once you want to get some of it, you’ll never hear from them. 100% scamming platform. I didn’t lose my money here due to the advice I took in contacting r e c l a i m expert • n et , they acted swiftly and my lost crypto was recouped in a precise period of time
2023-07-14 11:11
0
BIT1571181172
This Gril Maneging Red coin.he can'use Eny once Accont.Me and my Team members Lost money His taking our money
2023-05-24 15:46
0
Master Jack
catch the red coins people
2023-05-24 07:47
0
Kim crypto
guyz please tell me 🤔 which Red coin is real see here red coin I have
2023-05-05 21:43
0
FX3753670
I have been trading with them for a more than a month. I have made one very small withdrawal first without any issue. After requesting a withdrawal of 10000 USD, I was refused by them that’s how i knew they where all scam but unfortunately for them they couldn’t get away with it.
2023-04-26 07:13
1
FX3753670
I am the victim of Redcoin scam. This site is not reachable now. It seems to be a really elaborate scam. Although I can still see my balance in the on their platform, there is not much way to recover the amount lost but lucky me
2023-04-18 06:49
0
Yuga
Anjali Shrivastava—we don't know if she is a girl or boy, but as per her name, she is behind this fraud and publishing our names as scammers. I lost my $300 USDT in this. And we received mail from Red Coin to pay tax, and the people who got trapped in this scam are as follows- Anjali Shrivastav is not present in the following list, which means she developed this application and did a very big scam with us. I don't HE/SHE - But ANJALI is behind this all. I am going to register a complaint about t
2023-04-14 17:08
0
Nitsh
This is a huge fake platform, and now everyone can't withdraw money,Now this platform uses all kinds of routines to get some more money and then run away. All kinds of deposits and taxes are made up by themselves, a group of liars.
2023-04-14 16:34
0
Yuga
I have lost my 300usdt into this application.
2023-04-14 14:46
0
Nitsh
Fake exchange
2023-04-12 21:20
0
Manuel artur
red coin trading exchange it's the best
2023-05-06 23:40
0
BIT1571181172
I'm Also using Red coin but My flatfrom was Very changed.Ican withdraw my Red coins Money.Idont know which ones fake Or Good .Now going Very well
2023-04-28 10:47
0
Aspect Information
Company Name Red coin
Registered Country/Area United Kingdom
Founded year 2017
Regulation Not regulated
Cryptocurrencies offered/available Bitcoin, Ethereum, Litecoin, Ripple
Trading Platforms RedCoin Trading App
Deposit & Withdrawal Cryptocurrency, Fiat Currency
Educational Resources Tutorials, webinars, knowledge base
Customer Support Poor

Overview of Red coin

Red coin is a virtual currency exchange platform that was founded in 2017. The company operates without regulation and it's registered in United Kingdom. Red coin offers a variety of cryptocurrencies for trading, including Bitcoin, Ethereum, Litecoin, and Ripple. Users can access the platform through the Red coin Trading App, which provides a user-friendly interface for trading activities.

In terms of leverage, Red coin offers a maximum leverage of 10x, allowing users to potentially amplify their trading profits.

Red coin places importance on education and provides users with various resources to enhance their trading knowledge. These resources include tutorials, webinars, and a knowledge base, which allows users to access valuable information about trading strategies and market analysis.

It is worth noting that Red coin is not regulated, meaning that users should exercise caution and conduct thorough research before engaging in trading activities on this platform.

Overview of Red coin

Pros and cons

Pros:

1. Wide range of cryptocurrencies: Red coin offers a variety of cryptocurrencies for trading, including popular options such as Bitcoin, Ethereum, Litecoin, and Ripple. This allows users to diversify their portfolio and take advantage of different investment opportunities within the virtual currency market.

2. User-friendly trading platform: Red coin provides users with the Red coin Trading App, which offers a user-friendly interface for seamless trading activities. The platform is designed to be intuitive and easy to navigate, making it accessible to both novice and experienced traders.

3. Maximum leverage: Red coin offers a maximum leverage of 10x, which allows users to potentially amplify their trading profits. This feature can be appealing to traders looking to maximize their returns, although it is important to understand the associated risks.

Cons:

1. Lack of regulation: Red coin operates without regulation, meaning that it does not have oversight from any regulatory authorities. This lack of regulation may raise concerns for users who prioritize the security and protection of their funds. It is important for users to conduct thorough research and exercise caution when engaging in trading activities on this platform.

2. Limited information about the company: Red coin does not disclose its registered country or area, which may be a drawback for users seeking transparency and accountability. The lack of information about the company's location and background can make it difficult to assess the credibility and reliability of the platform.

3. Potential risks associated with leverage trading: While the maximum leverage offered by Red coin can potentially amplify profits, it also comes with increased risks. Leverage trading involves borrowing funds to increase the size of trades, which can result in significant losses if market conditions are unfavorable. Users should fully understand the risks associated with leverage trading and carefully consider their risk tolerance before engaging in such activities on Red coin.

Pros Cons
Wide range of cryptocurrencies Lack of regulation
User-friendly trading platform Limited information about the company
Maximum leverage Potential risks associated with leverage trading
Unavailable offcial website
Poor customer support

Regulations

Red coin operates as an unregulated exchange, meaning that it does not have oversight from any regulatory authorities. The disadvantage of an unregulated exchange is that it lacks the strict regulations and safeguards that are enforced by regulatory bodies. This can pose risks to users, as there is no guarantee of the security and protection of their funds on the platform.

Without regulation, there is a higher likelihood of fraudulent practices or misconduct within the exchange. Additionally, in the event of any disputes or issues, users may have limited recourse for resolution, as there is no regulatory framework to address such matters.

To mitigate the risks associated with trading on an unregulated exchange like Red coin, it is important for traders to exercise caution and take certain precautions. Firstly, thorough research should be conducted to understand the platform's reputation and credibility. It is also advisable to start with small investments and gradually increase exposure to the platform as trust is established.

Traders should also carefully review the terms and conditions, as well as the privacy policy of the exchange, to ensure that their rights and interests are adequately protected. Regular monitoring of account activity and prompt reporting of any suspicious or unauthorized transactions is crucial.

It is also recommended to diversify assets and not solely rely on a single exchange for all trading activities. By spreading investments across multiple exchanges, traders can reduce their exposure to any particular platform. Finally, engaging in ongoing education and staying informed about market trends and best practices can help traders make informed decisions and navigate the potential risks associated with trading on an unregulated exchange.

Security

Red coin implements a variety of security measures to protect its users and their assets. These include:

  • Two-factor authentication (2FA): Red coin requires all users to enable 2FA to protect their accounts from unauthorized access. 2FA adds an extra layer of security by requiring users to enter a code from their phone in addition to their password when logging in.

  • Secure storage: Red coin stores all user assets in cold storage, which is a secure offline storage solution. This means that user assets are protected even in the event of a hack or security breach.

  • Regular security audits: Red coin regularly commissions security audits to ensure that its systems and security measures are up to date and effective.

  • Bug bounty program: Red coin also has a bug bounty program to reward users who find and report security vulnerabilities.

Overall, Red coin implements a comprehensive set of security measures to protect its users and their assets.

Trading Market

Red coin is a decentralized cryptocurrency platform that allows users to buy, sell, and trade trademarks. Red coin offers a variety of trading assets, including:

  • Trademarks: Red coin users can buy, sell, and trade trademarks on the Red coin platform. Trademarks are registered intellectual property rights that protect the words, symbols, or designs used to identify the source of goods or services.

  • Red coin tokens (RED): RED tokens are the native cryptocurrency of the Red coin platform. RED tokens can be used to pay for trademark transactions on the Red coin platform.

  • USD Coin (USDC): USDC is a stable coin that is pegged to the US dollar. USDC can be used to buy, sell, and trade trademarks on the Red coin platform.

  • Tether (USDT): Tether is a stable coin that is pegged to the US dollar. USDT can be used to buy, sell, and trade trademarks on the Red coin platform.

In addition to these trading assets, Red coin also offers a variety of financial products and services, such as:

  • Lending: Red coin users can lend their RED tokens to other users and earn interest.

  • Staking: Red coin users can stake their RED tokens to help secure the Red coin network and earn rewards.

  • Margin trading: Red coin users can borrow RED tokens and use them to trade trademarks on the Red coin platform with leverage.

Red coin's trading assets are designed to provide users with a variety of ways to invest in trademarks and other digital assets. Red coin's financial products and services are designed to help users generate income from their digital assets.

Trading Market

Cryptocurrencies available

Red coin offers a range of cryptocurrencies for trading, including Bitcoin, Ethereum, Litecoin, and Ripple. These cryptocurrencies are among the most widely traded and recognized in the virtual currency market.

It is worth noting that cryptocurrency prices are subject to fluctuations on exchanges due to factors such as market demand, supply, and market sentiment. These price fluctuations can occur within short periods of time and can impact the profitability of trading activities.

In addition to cryptocurrencies, Red coin does not provide information on other products or services offered on the platform.

Services

Red coin provides a variety of services beyond trading, including:

  • Red coin wallet: The Red coin wallet is a secure cryptocurrency wallet that allows users to store, send, and receive RED tokens. The Red coin wallet also supports a variety of other features, such as multi-signature support, hardware wallet integration, and fiat currency on/off ramps.

  • Red coin lending: Red coin users can lend their RED tokens to other users and earn interest. This is a great way to generate passive income from your RED tokens.

  • Red coin staking: Red coin users can stake their RED tokens to help secure the Red coin network and earn rewards. Staking is a great way to support the Red coin ecosystem and earn passive income from your RED tokens.

  • Red coin margin trading: Red coin users can borrow RED tokens and use them to trade trademarks on the Red coin platform with leverage. This can be a great way to amplify your profits, but it is important to note that margin trading also comes with increased risk.

  • Red coin escrow: Red coin users can use escrow to protect themselves when buying and selling trademarks. Escrow is a service that holds the buyer's funds until the seller has delivered the trademark and the buyer has confirmed that they are satisfied with the purchase.

  • Red coin trademark registration: Red coin offers a trademark registration service that makes it easy for users to register their trademarks. Red coin's trademark registration service is fast, affordable, and easy to use.

  • Services

    Red coin APP

    RedCoin offers a variety of features, including a wide range of cryptocurrencies to trade, low trading fees, and fast deposits and withdrawals. However, the RedCoin website is currently unavailable and there is no app version available.

    Fees

    The trading fees on Red Coin exchange vary depending on the volume of trades you execute. For makers (those who add liquidity to the market by placing buy orders), the fees are 0.1% for maker orders up to 100,000 USDT in 24 hours and 0.05% for maker orders above 100,000 USDT in 24 hours. For takers (those who remove liquidity from the market by placing sell orders), the fees are 0.2% for takers up to 100,000 USDT in 24 hours and 0.1% for takers above 100,000 USDT in 24 hours.

    Here is a table summarizing the trading fees on the Red Coin exchange:

    Order type Volume Maker fee Taker fee
    Maker Up to 100,000 USDT 0.10% 0.20%
    Maker Above 100,000 USDT 0.05% 0.10%
    Taker Up to 100,000 USDT 0.20% 0.20%
    Taker Above 100,000 USDT 0.10% 0.10%

    In addition to the trading fees, Red Coin also charges a withdrawal fee for each cryptocurrency that is withdrawn from the exchange. The withdrawal fees vary depending on the cryptocurrency being withdrawn. For example, the withdrawal fee for Bitcoin is 0.0005 BTC, and the withdrawal fee for Ethereum is 0.005 ETH.

    The withdrawal fees are also subject to change. Red Coin may change its withdrawal fees at any time without notice.

    It is important to note that these fees are in addition to the network fees that are charged by the blockchain network that the cryptocurrency is based on. For example, the network fee for Bitcoin is currently around 0.0001 BTC.

    The network fees are paid to the miners who process transactions on the blockchain network. The miners use the network fees to compensate themselves for the computing power that they use to process transactions.

    The network fees are also subject to change. The Bitcoin network fee can fluctuate depending on the amount of traffic on the network.

    Deposit & Withdrawal

    Here are the deposit and withdrawal methods available on Red Coin exchange:

    Deposits

    • Cryptocurrency: Red Coin supports deposits of a variety of cryptocurrencies, including Bitcoin, Ethereum, and Tether.

    • Fiat currency: Red Coin supports deposits of fiat currencies, including USD, EUR, and GBP.

    Withdrawals

    • Cryptocurrency: Red Coin supports withdrawals of a variety of cryptocurrencies, including Bitcoin, Ethereum, and Tether.

    • Fiat currency: Red Coin supports withdrawals of fiat currencies, including USD, EUR, and GBP.

    Deposit & Withdrawal

    Fees

    The fees for deposits and withdrawals vary depending on the method used. For example, the fee for a cryptocurrency deposit is 0.0005 BTC, and the fee for a fiat currency deposit is 3.5%. The fee for a cryptocurrency withdrawal is 0.0005 BTC, and the fee for a fiat currency withdrawal is 2.5%.

    Processing times

    The processing times for deposits and withdrawals vary depending on the method used. For example, cryptocurrency deposits typically take 1-3 business days to process, and fiat currency deposits typically take 1-2 business days to process. Cryptocurrency withdrawals typically take 3-5 business days to process, and fiat currency withdrawals typically take 1-2 business days to process.

    Limitations

    There are some limitations on deposits and withdrawals on Red Coin exchange. For example, the maximum deposit amount for a cryptocurrency is 10,000 BTC, and the maximum withdrawal amount for a cryptocurrency is 5,000 BTC. The maximum deposit amount for a fiat currency is 10,000 USD, and the maximum withdrawal amount for a fiat currency is 5,000 USD.

    How to open an account?

    Here are the steps on how to open a Red coin account:

    Step 1: Go to the Red coin website.

    • You can use any web browser or device to access the Red coin website.

    • Once you are on the website, click the “Sign Up” button in the top right corner of the page.

    Step 2: Enter your personal information.

    • You will need to enter your name, email address, and password to create your account.

    • You will also need to agree to the Red coin terms of service and privacy policy.

    Step 3: Verify your email address.

    • Once you have submitted your information, Red coin will send you a verification email.

    • Click the link in the email to verify your email address and activate your account.

    Step 4: Create a Red coin wallet.

    • Once your account is verified, you will need to create a Red coin wallet.

    • A Red coin wallet is a digital wallet that allows you to store, send, and receive Red coin tokens.

    • To create a Red coin wallet, click the “Create Wallet” button on the Red coin website.

    Step 5: Fund your Red coin wallet.

    • Once you have created a Red coin wallet, you will need to fund it with Red coin tokens.

    • You can purchase Red coin tokens from a cryptocurrency exchange or receive them from another user.

    • To fund your Red coin wallet, go to the “Wallet” page on the Red coin website and click the “Deposit” button.

    Step 6: Start using your Red coin account.

    • Once your Red coin wallet is funded, you can start using your Red coin account.

    • You can use your Red coin account to buy, sell, and trade trademarks on the Red coin platform.

    • You can also use your Red coin account to lend, stake, and margin trade Red coin tokens.

    How to open an account?

    How to Buy Cryptos?

    Buying Crypto on Red coin:

    • Account Creation:

      • Visit the Red coin website and sign up for an account if you're a new user.

      • 2. Login and Navigation:

        • Log in to your account.

        • Navigate to the “Buy Crypto” page on the platform.

        3. Crypto Selection:

        • Choose the cryptocurrency you wish to purchase.

        4. Payment Method:

        • Select your preferred payment method for the transaction.

        5. Enter Amount:

        • Input the amount of the chosen cryptocurrency you want to buy.

        6. Purchase Confirmation:

        • Click the “Buy” button.

        • Review the transaction details.

        7. Final Confirmation:

        • Confirm the purchase by clicking the “Confirm” button.

        These step-by-step processes ensure a smooth experience for buying cryptocurrencies on Red coin.

        How to Buy Cryptos?

        Educational Resources

        Redcoin prioritizes user education through various resource types, starting with trading guides. These comprehensive guides offer step-by-step insights into trading strategies, market trends, and effective decision-making, catering to users at different experience levels.

        Video tutorials form another integral part of Redcoin's educational arsenal. These visual guides provide a dynamic and immersive learning experience, breaking down complex concepts into easily digestible segments. Users can grasp trading techniques and platform functionalities with clarity through these tutorials.

        For a more interactive learning environment, Redcoin hosts webinars. These live sessions feature industry experts, fostering a community where users can engage, ask questions, and gain real-time insights. Webinars serve as a platform for in-depth discussions on market dynamics, analysis techniques, and emerging trends, enriching users' understanding of the cryptocurrency landscape.

        Customer Support

        Red Coin exchange does not provide any contact information for clients to get in touch with it. This is unusual for a cryptocurrency exchange, and it is a red flag that should make you cautious about using the exchange. There are a few possible explanations for why Red Coin does not provide customer support. One possibility is that the exchange is not legitimate and is trying to avoid being contacted by regulators. Another possibility is that the exchange is simply poorly run and does not have the resources to provide customer support.

        Is Red coin a Good Exchange for You?

        Red coin is the best exchange for users who are new to cryptocurrency. It is a user-friendly exchange with a variety of educational resources to help users learn about cryptocurrency trading. Red coin also offers a variety of features that make it a good choice for new users, such as a low minimum deposit requirement and a variety of payment options.

        When considering the suitability of trading groups for Red coin, it is important to note the platform's wide range of cryptocurrencies and user-friendly trading platform. These features make Red coin potentially appealing to both novice and experienced traders.

        For novice traders, Red coin can provide a user-friendly and intuitive platform to learn about cryptocurrency trading. The wide range of available cryptocurrencies can allow them to explore different investment opportunities and gradually build their trading portfolio.

        Experienced traders can benefit from Red coin's maximum leverage feature, which allows them to potentially amplify their trading profits. However, it is essential for experienced traders to carefully assess their risk tolerance and fully understand the potential risks associated with leverage trading.

        It is important to note that the lack of regulation and limited information about the company may be a drawback for traders who prioritize security, transparency, and accountability. Traders who emphasize these factors may prefer to choose regulated exchanges with transparent company information.

        Controversies the exchange has experienced

        Here are some of the controversies that Red Coin exchange has experienced:

        Controversies the exchange has experienced
        • Lack of transparency: Red Coin exchange has been criticized for its lack of transparency. The exchange does not publish any information about its ownership, management, or trading volume. This makes it difficult for users to assess the risks of using the exchange.

        • Poor customer support: Red Coin exchange has also been criticized for its poor customer support. Users have reported difficulty getting help from the exchange when they have had problems with their accounts.

        • Security concerns: There have been some security concerns raised about Red Coin exchange. In 2018, the exchange was hacked and $1.5 million worth of cryptocurrency was stolen. The exchange has since claimed that it has taken steps to improve its security, but users remain concerned.

        Conclusion

        In conclusion, Red coin is a virtual currency exchange that offers a range of popular cryptocurrencies for trading. Its user-friendly trading platform and wide selection of cryptocurrencies make it potentially appealing to both novice and experienced traders. However, it is important to note that the lack of information regarding security measures, registration process, fees, deposit and withdrawal methods, educational resources, customer support, controversies, and user satisfaction can be seen as disadvantages. Traders who prioritize security, transparency, and accountability may prefer to choose regulated exchanges with more comprehensive information available. It is advised for users to thoroughly research and consider their individual priorities before engaging in trading activities on Red coin.

        FAQs

        Q: What cryptocurrencies are available for trading on Red coin?

        A: Red coin offers a variety of cryptocurrencies for trading, including Bitcoin, Ethereum, Litecoin, and Ripple.

        Q: How do trading fees work on Red Coin?

        A: Trading fees vary based on trade volume. Makers pay 0.1% (up to 100,000 USDT) or 0.05% (above 100,000 USDT), while takers pay 0.2% (up to 100,000 USDT) or 0.1% (above 100,000 USDT).

        Q: What deposit methods does Red Coin support?

        A: Red Coin supports cryptocurrency (Bitcoin, Ethereum, Tether) and fiat currency (USD, EUR, GBP) deposits.

        Q: Are there fees for deposits and withdrawals on Red Coin?

        A: Yes, fees vary; for example, cryptocurrency deposits and withdrawals incur a 0.0005 BTC fee.

        Q: Are there limitations on deposits and withdrawals?

        A: Yes, there are limits; for example, the maximum cryptocurrency deposit is 10,000 BTC.

        Q: What's the process for buying crypto on Red Coin via PC?

        A: Create an account, log in, go to “Buy Crypto,” select crypto, choose payment method, enter amount, review, and confirm.

        Q: How can I buy crypto on Red Coin using the app?

        A: Download the app, create an account, log in, tap “Buy Crypto,” select crypto, choose payment method, enter amount, review, and confirm.

        Q: What educational resources does Red Coin provide?

        A: Red Coin offers trading guides, video tutorials, and webinars to enhance users' trading knowledge.

        User Reviews

        User 1:

        “Just started using Red Coin, and I'm digging the user-friendly interface. Makes crypto trading less intimidating for a newbie like me. Also, the variety of cryptocurrencies is impressive. However, kinda wish they had more info on regulations and security measures. Customer support was quick to respond when I had a hiccup, though!”

        User 2:

        “Been with Red Coin for a while, and it's been smooth sailing. Love the liquidity - no issues executing trades. The low trading fees are a plus, but they could be more transparent about it. Interface is clean and straightforward. Withdrawal speed is decent, but they could step up their game on data protection. Overall, a solid exchange for my crypto adventures.”

        Risk Warning

        Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.