Stoppage of Business

Score

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/10

ETF

Thailand

|

Stoppage of Business

2-5 years|

Suspicious Regulatory License|

High potential risk|

http://www.rcbok.com

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ETF
http://www.rcbok.com
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No effective regulatory information has been founded yet, please pay attention to the risks!

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WikiBit Risk Alerts

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Previous Detection 2024-03-28

This Exchange has ceased its operation, and it has been listed in WikiBit's shut down list of Exchange; please be aware of the risk!

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

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Aspect Information
Company Name ETF
Registered Country/Area Thailand
Founded Year 2-5 years
Regulatory Authority Stoppage of business
Numbers of Cryptocurrencies Available 10
Fees 0.5%
Payment Methods Bank transfer, Credit cards
Customer Support 24/7 live chat, Email

Overview of ETF

ETF is a virtual currency exchange based in Thailand, it operates with an regulatory status of stoppage of business. ETF offers a total of 10 different cryptocurrencies for trading. Users can expect a trading fee of 0.5% for their transactions. The platform supports various payment methods, including bank transfers and credit/debit card payments. In terms of customer support, SCEX provides 24/7 live chat and email support.

Pros and Cons

Pros Cons
Diverse security measures Unregulated status with stoppage of business
24/7 live chat and email support Limited number of cryptocurrencies available
Trading fees of 0.5%
Limited payment methods

Pros:

- Diverse security measures: ETF employs a wide range of security measures to protect user assets and data, enhancing the platform's safety and reliability.

- 24/7 live chat and email support: ETF offers round-the-clock customer support through live chat and email, ensuring users can access assistance whenever needed.

Cons:

- Unregulated status with stoppage of business: ETF's unregulated status leaves users without the legal protections and recourse available on regulated platforms, and the risk of business stoppage may lead to potential loss of funds.

-Limited number of cryptocurrencies available: Users on ETF may find their cryptocurrency trading options limited due to the platform's smaller selection of only 10, potentially missing out on investment opportunities in a broader market.

- Limited payment methods: Limited payment methods through bank transfer and credit cards on ETF can be inconvenient for users who prefer a variety of options to deposit and withdraw funds, potentially restricting their access to the platform.

Hight trading fees of 0.5%: The trading fees of 0.5% on ETF may discourage cost-conscious traders, especially when lower fee alternatives are available elsewhere in the market.

Regulatory Authority

ETF currently operates with a regulation status of stoppage of business, which is a matter of grave concern. Lack of regulation removes the mandatory checks and balances enforced by financial supervisory bodies, thereby leaving the platform's operations and business practices unchecked. This scenario potentially heightens the risks associated with trading through ETF, as clients are deprived of the crucial safeguards that regulated platforms provide. Thus, it's crucial for potential investors to tread with utmost caution, understanding that transacting on a non-regulated platform like SCEX could expose them to significant and potentially avoidable risks.

Regulatory Authority

Unregulated exchanges pose several disadvantages. Firstly, the lack of regulation can lead to a higher risk of fraudulent activities and scams, as there is no governing body to oversee and enforce security measures. Additionally, unregulated exchanges may not have proper customer protections in place, leaving traders vulnerable to hacking or loss of funds. Moreover, the lack of regulation means that there are no standardized rules and procedures, which can make dispute resolution and legal recourse challenging for traders.

To mitigate these risks, it is recommended that traders choose regulated exchanges. These exchanges are subjected to oversight and scrutiny, which helps to ensure the safety of traders' funds and personal information. Traders should also research and verify the regulatory status of any exchange they intend to use, as this information can provide insight into the level of security and protection offered. By choosing regulated exchanges, traders can have greater peace of mind and reduce the risks associated with unregulated platforms.

Security

Security

The security of ETFs is an important aspect for investors to consider. ETF implements various protection measures to ensure the safety of investors' assets. Here are some key security measures implemented by ETF:

1. Robust encryption protocols: ETF utilizes advanced encryption protocols to secure sensitive user information and transactions. This helps protect against unauthorized access and data breaches.

2. Secure storage of assets: ETF employs secure storage solutions to safeguard investors' assets. This includes the use of cold wallets or offline storage methods, which are less susceptible to hacking and online threats.

3. Two-factor authentication (2FA): ETF offers two-factor authentication as an additional layer of security. This requires users to provide a second form of verification, such as a one-time password or biometric authentication, to access their accounts.

4. Regular security audits: ETF conducts regular security audits to identify and address any vulnerabilities or weaknesses in their systems. These audits help ensure that security measures are up to date and adequate to protect investors' assets.

While ETF takes security measures to protect investors, it is important for individuals to also take responsibility for their own security. This includes using strong and unique passwords, regularly updating software and applications, and being cautious of phishing attempts and suspicious links or emails.

Cryptocurrencies Available

Cryptocurrencies Available

ETF present traders and investors with an array of 10 tradable cryptocurrencies. This selection consistently includes the market's top contenders, like Bitcoin (BTC), the pioneering digital gold, Ethereum (ETH), known for its smart contract capabilities, Ripple (XRP), a cross-border payment solution, Litecoin (LTC), renowned for speedy transactions, and Bitcoin Cash (BCH), emphasizing scalability.

This offers a gateway to the ever-expanding world of digital assets, allowing individuals to diversify their investment portfolios while benefiting from the inherent stability and liquidity.

Fees

ETF implements a flat trading fee structure of 0.5%, applicable both to makers and takers. In the world of cryptocurrency trading, “makers” are those who add liquidity to the market by placing a limit order below the ticker price for buying, or above the ticker price for selling. On the other hand, “takers” are those who decrease the market's liquidity by placing orders that are executed immediately against an order already on the books.

Therefore, whether you are a maker or a taker, you will be charged a fee of 0.5% of the total trade value on ETF. This uncomplicated fee arrangement provides clear insight into the costs each trader has to bear, regardless of their role in the market transaction. However, potential traders should ensure that this fee structure supports their trading strategies and transaction volumes.

Payment Methods

Payment Methods

ETF supports payment methods such as bank transfers and credit/debit card payments. Users can conveniently fund their accounts by initiating a bank transfer or by using their credit/debit cards.

The processing time for payments may vary depending on the chosen method and the user's financial institution. Bank transfers typically take a few business days to be processed, while credit/debit card payments are usually completed instantly. Traders should take into account the potential processing time when planning their transactions and ensure that they have sufficient funds in their accounts to avoid any delays.

Is ETF a Good Exchange for You?

When it comes to trading groups suitable for ETF, there are several factors to consider. Here are some recommendations for different target groups:

Individual Investors: ETF exchange can be an attractive choice for individual investors. The exchange offers a secure trading environment bolstered by diverse security measures which can give these investors peace of mind. Furthermore, the offered cryptocurrencies can provide a suitable platform for diversification, thus allowing individuals to balance and manage their portfolios effectively.

Cost-Conscious Investors: This group potentially includes traders who seek a clear and straightforward understanding of trading fees. The appealing proposition of a flat 0.5% fee, provided by the ETF exchange, can resonate with this group. Along with the streamlined cost, the round-the-clock customer support service can instill a sense of reliability.

Crypto Traders: For cryptocurrency traders who are content with the number of cryptocurrencies offered at the ETF exchange, it can be a good fit. These group members are comfortable focusing their trading on a limited number of cryptocurrencies offered.

Please note that potential users should be aware of the platform's unregulated status and an ongoing halt in operations when making their decisions.

It is important for individuals in these target groups to conduct thorough research, assess their investment goals and risk tolerance, and carefully evaluate the suitability of an ETF before investing. Seeking guidance from financial professionals or utilizing robo-advisors can also provide valuable insights and assistance in selecting the most appropriate ETFs for their needs.

FAQs

Q: What cryptocurrencies are available for trading on ETF?

A: ETF offers a 10 cryptocurrencies for trading, including popular options like Bitcoin, Ethereum, Ripple, Litecoin, and Bitcoin Cash.

Q: What are the payment methods accepted by ETF?

A: SCEX accepts bank transfers and credit/debit card payments as convenient payment methods for funding user accounts.

Q: How long does it take to process payments on ETF?

A: The processing time for payments on ETF may vary depending on the chosen method and the user's financial institution. Bank transfers typically take a few business days, while credit/debit card payments are usually completed instantly.

User Review

User 1: “I've been using ETF as crypto exchange for a while now and I'm impressed with the security and regulation measures they have in place. They use robust encryption and multi-factor authentication to protect user accounts, giving me peace of mind. The interface is user-friendly and easy to navigate, making it a breeze to trade different cryptocurrencies. The liquidity is also great, ensuring that I can easily buy or sell without experiencing delays. The customer support team is responsive and helpful, addressing any inquiries or issues promptly. The trading fees are reasonable and competitive, making it cost-effective for me to trade. Overall, I highly recommend this exchange for its security, user-friendly interface, liquidity, and responsive customer support.”

User 2: “I've had a positive experience with ETF. The range of cryptocurrencies available for trading is impressive, giving me plenty of options to diversify my portfolio. The customer support is excellent, providing quick and helpful responses whenever I have questions or need assistance. I also appreciate their low trading fees, which are much more affordable compared to other exchanges. The deposit and withdrawal speed is also fast, and I've never had any issues receiving my funds. The order types offered by this exchange give me flexibility in executing my trading strategies. Overall, I'm satisfied with the wide range of cryptocurrencies available, the responsive customer support, the low trading fees, and the speedy deposit and withdrawal process.”

Risk Warning

Cryptocurrency exchange investments come with inherent security risks. It is important to be aware of these risks before engaging in such investments. Cryptocurrency exchanges are susceptible to hacking, fraud, and technical glitches, which can result in the loss of funds. It is recommended to choose reputable and regulated exchanges, stay updated on security measures, and be vigilant in detecting and reporting any suspicious activities. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

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