No Regulation

Score

0123456789.01234567890123456789
/10

RAIN

Bahrain

|

5-10 years

Suspicious Regulatory License|

High potential risk|

https://www.rain.bh/

Website

Rating Index
Influence

Influence

C

Influence Index NO.1

Thailand 2.31

Better than 93.71% exchange(s)

Biz Area

Search Statistics

Advertising

Social Media Index

Influence
C

Licenses

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

Exchange Info

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Company Name
RAIN
Phone of the company
+973 1754 7789
Customer Service Email Address
support@rain.bh

WikiBit Risk Alerts

2
Previous Detection 2024-03-28

The number of this Exchange's nagitive field survey reviews has reached 1, please be aware of the risk and the potential scam!

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

Website

Genealogy

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Trade Type

Keywords

Time Machine

White Paper

Related Software

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New Arrival

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Influence

Yesterday Vol

7 Days

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User Reviews

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1 ratings

Participate in evaluation
BIT7303850442
A wonderful and distinctive platform licensed by the Central Bank of Bahrain and supports all customers
2022-05-10 04:05
0
0
Aspect Information
Company Name RAIN
Registered Country/Area Bahrain
Founded Year 2018
Regulatory Authority Unregulated
Numbers of Cryptocurrencies Available Over 70
Fees 0 trading fees on buys, sells, and swaps
Payment Methods Credit card, Bank transfer, and Cryptocurrency
Customer Support Email, live chat, and ticket system

Overview of RAIN

RAIN, founded in 2018 and based in Bahrain, emerges as a cryptocurrency platform offering a refreshing approach to trading. With a portfolio of over 70 cryptocurrencies, RAIN caters to diverse trading preferences. Setting itself apart, RAIN introduces a fee structure free from trading fees on buys, sells, and swaps, aligning with its commitment to a seamless trading experience. Users benefit from flexibility in payment methods, encompassing credit cards, bank transfers, and cryptocurrencies. Although operating in an unregulated environment, RAIN prioritizes customer support through email, live chat, and a ticket system, aiming to provide users with responsive assistance. This Bahraini entity showcases a distinctive perspective on cryptocurrency trading, inviting users to navigate a fee-free and varied trading landscape.

Overview of RAIN

Pros and cons

Pros Cons
Zero trading fees Limited availability
Easy to use Unregulated
24/7 Customer suppor Limited liquidity

RAIN Exchange Pros:

- Zero trading fees: Rain does not charge any trading fees on buys, sells, and swaps. This makes it a very attractive option for cryptocurrency traders who are looking to save money on fees.

- Easy to use: Rain is a very user-friendly exchange. The interface is simple and easy to navigate, even for beginners.

-24/7 Customer support: Rain offers 24/7 customer support. If you have any problems with the exchange, you can contact customer support for help.

RAIN Exchange Cons:

- Limited availability: An aspect worth noting is its limited availability, stemming from regulatory constraints in specific jurisdictions that prevent its accessibility in certain countries.

- Unregulated: The exchange operates without oversight or regulation from any official financial authority, potentially exposing users to higher risks due to the absence of established legal safeguards.

- Limited liquidity: Rain has limited liquidity compared to some other exchanges. This means that you may not be able to buy or sell large amounts of cryptocurrency without affecting the price.

Regulatory Authority

RAIN operates under no regulatory authority according to the latest information addressed on WikiBit.

Unregulated exchanges do not have the same level of oversight and accountability. This can pose risks for traders, as there may be a lack of safeguards in place to protect against fraudulent activities or market manipulation. Additionally, unregulated exchanges may not have proper mechanisms to handle disputes or provide recourse for users in case of issues or losses.

Security

Rain's security measures encompass multiple layers to safeguard user assets. The majority of user funds are stored in cold storage, ensuring detachment from the internet and bolstering resilience against cyberattacks. In addition, the requirement of two-factor authentication (2FA) adds a protective dimension, necessitating users to enter a phone-generated code alongside their password for login.

Withdrawal limits are in place to prevent abrupt large fund withdrawals, enhancing fraud and theft prevention. Rain goes a step further by offering users hacking insurance, providing reimbursement in the event of a hack and loss of funds. However, being a relatively new exchange, Rain might lack the extensive security experience of more established platforms. Regulatory uncharted waters raise concerns for some investors, compounded by the potential hacking risk faced by all exchanges. Despite these challenges, Rain maintains a strong security record, having not experienced any hacking incidents to date.

Security

Cryptocurrencies Available

RAIN boasts a diverse spectrum of over 70 available cryptocurrencies, offering users an expansive array of options to engage with the dynamic world of digital assets. This wide-ranging selection encompasses well-recognized cryptocurrencies such as Bitcoin and Ethereum, which serve as foundational pillars within the crypto landscape. Additionally, RAIN extends its support to numerous other cryptocurrencies, each contributing unique features and potential opportunities for traders. With a comprehensive assortment of digital assets available, RAIN provides users with the means to tailor their investment strategies and portfolios according to their preferences and objectives.

Cryptocurrencies Available

How to open an account?

The process is simple - access the website, complete the registration process in 5 quick steps, and start trading as below.

open an account

Fees

RAIN offers an intriguing fee structure that distinguishes itself from traditional trading fees. The platform enforces a unique approach with 0 trading fees on buys, sells, and swaps, effectively eliminating the conventional maker-and-taker fee model. This innovative strategy aims to enhance user experience by removing trading costs associated with these actions, allowing traders to engage in transactions without the burden of fees impacting their trades. This approach aligns with RAIN's commitment to fostering a seamless and cost-efficient trading environment for its users.

Fees

Payment Methods

Rain offers a range of payment methods for deposits and withdrawals, including credit cards, bank transfers, and cryptocurrencies. Rain does not charge any trading fees on buys, sells, and swaps. However, there are some fees that you may incur when using Rain. Deposits via credit cards incur a 0.1% fee, while bank transfers have a 0.5% fee. Deposits made with cryptocurrencies, however, do not carry any deposit fees, providing users with a flexible and cost-effective means of funding their Rain accounts.

The processing time for deposits and withdrawals at Rain varies depending on the payment method. Credit card deposits and withdrawals typically take 1-3 business days to process. Bank transfers typically take 3-5 business days to process. Cryptocurrency deposits and withdrawals are typically processed instantly.

Payment Methods Credit Card Bank Transfer Cryptocurrency
Deposits Fee (%) 0.10% 0.50% 0%
Withdrawals Fee (%) N/A N/A N/A
Processing Time 1-3 Business Days 3-5 Business Days Instant
Payment Methods

Educational Resources

RAIN provides a variety of educational resources and tools to assist users in their trading journey. These resources may include tutorials, guides, articles, and videos that cover topics such as cryptocurrency basics, trading strategies, and market analysis. Additionally, RAIN may offer tools such as charts, indicators, and market data to help users make informed trading decisions.

Is RAIN a Good Exchange for You?

For Beginner Traders:

For novice traders dipping their toes into the cryptocurrency market, RAIN Exchange emerges as a compelling choice. The absence of trading fees on buys, sells, and swaps is a significant draw, as it helps beginners save on costs while they familiarize themselves with trading dynamics. The exchange's user-friendly interface simplifies navigation, ensuring a smooth entry into the trading realm. With the added comfort of round-the-clock customer support, beginners can seek assistance whenever needed, helping them gain confidence in their trading endeavors.

For Experienced Traders:

Experienced traders seeking a cost-efficient platform will appreciate RAIN Exchange's zero trading fees, which enable them to execute trades without incurring additional costs. While the limited liquidity might be a factor, experienced traders can strategically navigate this aspect to their advantage. The platform's user-friendly interface ensures seamless navigation, while 24/7 customer support caters to any advanced queries. It's worth noting that the unregulated nature of the exchange introduces risk, making it vital for experienced traders to conduct thorough research and employ their expertise to make informed trading decisions.

For Cryptocurrency Enthusiasts:

Cryptocurrency enthusiasts are likely to find RAIN Exchange appealing due to its zero trading fees, which align with their commitment to optimizing their investment returns. The ease of use is a boon, particularly for those passionate about digital assets but new to trading. However, the platform's limited availability could potentially restrict access for enthusiasts in certain jurisdictions. While the absence of regulation poses risk, enthusiasts well-versed in the nuances of the crypto space may appreciate the opportunity to explore an unregulated environment.

For Investors Seeking Regulatory Compliance:

Investors prioritizing regulatory compliance may approach RAIN Exchange with caution due to its unregulated status. The absence of trading fees may be appealing, but the limited liquidity and regulatory uncertainties could raise concerns for these investors. The user-friendly interface and 24/7 customer support, though beneficial, may not outweigh the importance of regulatory oversight for this group. Regulatory-conscious investors may seek platforms that align with established financial guidelines, ensuring a higher level of security and safeguarding their investments.

Conclusion

In conclusion, RAIN Exchange emerges as an enticing platform for cryptocurrency traders with its advantageous features. The absence of trading fees on buys, sells, and swaps sets it apart, appealing to those seeking to optimize their gains without the burden of fees. RAIN's user-friendly interface ensures accessibility even for newcomers, enhancing the overall trading experience. The availability of round-the-clock customer support underscores the platform's commitment to user assistance. However, it's important to consider some drawbacks. Regulatory limitations restrict its accessibility in certain regions, while the lack of regulatory oversight poses potential risks. Additionally, RAIN's limited liquidity compared to some competitors could impact trading large amounts of cryptocurrency. While RAIN's fee structure and user-friendly interface are attractive, potential users should weigh these pros and cons in their decision-making process.

FAQs

Q: Can I trade NFTs?

A: Not yet, but Rain is working on adding NFT trading in the future.

Q: Where is my money stored?

A: Your money is in cold storage, away from the internet for better security. Rain also uses 2FA and withdrawal limits.

Q: What rewards can users earn?

A: Rain offers referral rewards up to 20%, trading rewards, and occasional airdrops.

Q: Which countries are restricted?

A: Rain is restricted in countries like Afghanistan, Iran, and more.

Q: Does it need KYC?

A: Yes, KYC verification is needed for trading.

Q: What's the minimum deposit?

A: $50 is the minimum deposit for Rain.

User Review

User 1:

Rain's got me hooked on those 0 trading fees! No fees on buys, sells, or swaps? Count me in! Saving money on fees feels like a jackpot. And let's talk about easy – Rain's interface is a breeze. Even if you're a newbie, you won't get lost. And guess what? If I hit a snag, their 24/7 customer support's got my back. Rain, you're my crypto buddy!

User 2:

Rain's cool with its zero fees, no doubt. But here's the kicker – it's not everywhere. Availability's a bummer, thanks to those pesky regulations. And hey, they're flying solo without the regulators' nod. That's a risk to chew on. Plus, their liquidity game? Not the strongest. Big moves could shake up prices. Rain's got perks, but those cons, they've got me thinking twice.

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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