Swapnex Review | Crypto-Arbitrage Scam, Swapnex Fraud

Swapnex Review: in this review, you find out if Swapnex is a scam or legit platform according to the activities done by their company. Also, you will find out the reasons you have to stay away from them. Read on below to find out more.

Table of Contents

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Swapnex Overview

Swapnex Review: This is a crypto trading platform based in Australia. Also, it focuses on arbitrage trading, which involves profiting from price disparities across exchanges.

From what Swapnex does, it monitors & collects information on cryptocurrency prices from varieties of an exchange platforms, and displays for you an existing arbitrage opportunity.

Moreover, you can decide to trade from those opportunities either through manual trading or auto trading with the benefit of not having to create separate brokerage accounts on each exchange and transfer money across them.

But only one trade can be done manually every day, so if you feel like making more then you need to pay more for it. Currently, you can find three payment plans:

Start for $200 and get two manual transactions every day.
Personal is $500 and allows for three manual trades each day.
Professional charges 1500 USD per day and permits for four manual trades.

Also, there are plans for an automatic mode which will buy & sell for you, but it will be rather costly.

The cheapest plan requires a minimum investment of 0.0013 BTC (about $50 USD) for just one trade every day for 30 days.

Further, the most costly automatic option demands a minimum commitment of 1.3 BTC (about $50,000 USD) and makes eight transactions for you over the course of a year.

How about Swapnex’s earnings? According to the platform’s data, it achieved a 70.7 million dollar ROI on a total traded volume of 2.69 billion dollars. Also, this translates to a 2.62% average return ROI for every trade on Swapnex.

However, from our research as of when we are writing this review, the arbitrage opportunity displayed by the platform is around 1%, but it seems better if you decide to make different trades every day.

Regardless of this, can you really profit from Swapnex, does it seem to be a legit platform to make money passively as described?

Is Swapnex a Scam?

Swapnex Review: I wouldn’t have said that Swapnex is a Scam, but according to our research on the company, it seems to be a scam. According to other reviews on the company, they seem to rate the platform low due to its sophisticated fraud.

Most of you might not notice that and this is because you might not have the knowledge of Arbitrage trading, but we arbitrage traders suddenly found out, after we decided to try the platform for trading our assets.

However, we decided to drop this review on Swapnex, because of our experience, so it’s not just that we decided to call them scams, we write from experience.

Furthermore, keep on reading below to find out some things we noticed during our research on the company.

Swapnex Review – Faux Rates

Arbitrage trading seems to be a real trading business, but from time to time you might find out that the price of a certain cryptocurrency is not the same of a different exchange platform.

Therefore, you can decide to purchase BTC at a cheaper price on one exchange and sell it for a better price on the other.

Now the problem here is that in our days currently, this kind of opportunity can be seen rarely, and even when we get the opportunity, we won’t hold it for long, because it doesn’t last, why? This is because there are many expert trading robots out there waiting for the opportunity.

However, Swapnex has devised a solution to this problem by displaying fictitious pricing and arbitrage possibilities.

According to Swapnex, you can purchase Bitcoin on Binance for 38670.6 USDT and sell it on Coinbase Premium for 39186.5 USDT, resulting in a 0.24% profit after costs.

However, Swapnex’s pricing is false! The genuine best purchase price on Binance at the time was 38935.06 USDT, while the actual top sell price on Coinbase Pro was 38925.30 USDT, as shown in our graph.

In other words, if you followed the Swapnex method, in fact, you would be purchasing on Binance at a higher market and selling on Coinbase Pro for a cheaper price, losing money.

If you buy BTC on Coinbase Pro and trade it on Binance, you will also lose money since the prices are the same. Not only that, but you will also lose money on fees.

And these things prove that Swapnex is a Major scam, which does not know all the aspects of Arbitrage trading. See the next section below to find out another reason why we called Swapnex a scam.

Swapnex Review – Currently Illegal while in Australia

During our research on Swapnex, we came across an intriguing fact concerning the company’s legal standing.

Because Swapnex boldly declares on its official website that the company is registered under the number 646838753 in Australia.

That is correct. When you read through the terms and conditions, you’ll notice that you can’t establish an account if you live in Australia, the Netherlands, Germany, Italy, Hong Kong, the UK, or the United States.

When an Australian corporation refuses to service Australian citizens, what does that say? We believe they do so out of fear of being prosecuted by authorities.

Swapnex is well aware that they are defrauding individuals, and with this step, they want to keep their homes clean, and scam others on the outside.

Conclusion – How Swapnex Fraud Operates

Swapnex Review: Most people refuse to admit the fact that Swapnex is a scam because they found out that the platform pays those who use it.

However, the major truth behind it all is that Swapnex carries out its operation as a Ponzi scheme inside but on the outside, it seems to be an arbitrage trading platform just like COTPS.

And all these explain why the trading strategies cost much. And they require an increasing influx of incoming money to keep the Ponzi mill functioning. But it will only work for so long.

Know that Ponzi schemes are invariably doomed to fail. And that is exactly what will happen with Swapnex: it will fall badly as soon as new deposits are insufficient to meet withdrawals.

It can also crash if Swapnex administrators decide to close up due to their finance system and flee with what’s left.

Meanwhile, they have a lucrative referral scheme to encourage individuals to introduce new users so that the deception may continue for as long as it takes and the public fund grows to its greatest size before they turn out the lights and disappear with all of the money.

For further information on Swapnex, and how you can earn from the platform despite all of its scam attributes, stay connected on our website @ TechSmoothy.com, leave a comment below & don’t forget to share.