CryoNet Compliant Review
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CryoNet(cryonetmax.com) is a new crypto exchange finding its way to popularity. Apparently, they have billions of trading volume and the main stream assets are available. They have their own token that promises few advanced features and trading volume based rewards.
While they flaunt their decentralised nature, it is important to consider all aspects before depositing with them. Few instances of lack of transparency were also found during our time on their platform. To get an in-depth look at this platform, continue reading.
CryoNet Overview
CryoNet is a decentralized exchange. Their interface is web based and can be accessed with most devices with an active internet connection. While the flexibility is appreciated, the same can be a hassle for serious traders.
The number of assets offered by them is not impressive and the fees are a bit of a mystery as well. As it’s decentralised, its roots can’t be traced out. However, this does appear to have Chinese origin.
Assets and Fees
The main stream crypto assets are showcased on their interface. Unfortunately, clarity with regards to leverage and other requirements are not clear. The minimum amount needed to proceed with them is unknown.
Note that there is no dedicated FAQ section as well. Also, there is no support for all kinds of automated trading too. All in all, we have more questions than answers after spending a couple of hours on their platform.
Is CryoNet Scam or Not?
CryoNet can be termed as a scam, but it depends upon where you are located. They are not regulated by any entities like FCA, FTC or ASIC. User reviews are also scarce and due to the lack of social proof and their domain age, it is indeed hard to trust them.
Lastly, the support team is only accessible via email. During our time with them, it was hard to get answers and the responses seem to be AI generated.
Bottom Line
Exercise extreme caution while dealing with platforms like this one. Things like cryptocurrencies and decentralised exchanges sound good on paper. However, safety and reliability are also important parameters.
If you have used this platform, share your views below.