BTCKingdom Review – Legit Exchange or SCAM?

BTC Kingdom is a peculiar operation at first glance: it is an exchange, claiming to be the “Safest Place to Buy/Sell Cryptocurrencies”.

Update (March 30, 2019): Much negative feedback has accumulated in the comments below since the publication of this review. We now believe that BTC Kingdom is a SCAM!

Whether it is indeed THE safest such place or not, may be up for debate, but it certainly is a crypto exchange that accepts fiat deposits too, and that’s quite a potentially welcome feature indeed.

Buying cryptos is such a hassle with the banks stepping up against the industry these days, and exchanges like BTCKingdom may indeed provide a solution to this conundrum.

Above and beyond that, the operation features some interesting investment-oriented services too, and rather outstanding liquidity.

About BTC Kingdom

The exchange looks like a solid outfit, employing some 120 people – according to their own website – all over the world.

That said, the headquarters of the operation is located at Sofia, 1574, Slatina Reg., Hristo Smirnenski R.A., bl. 9, entr. G, 3rd fl., app. 7 – make of that what you will.

The corporate entity behind the BTCKingdom brand is Home Market Ltd. According to company representatives, the operation is brand new and as such, one mat not yet find many records of its activity/existence.

The BTCKingdom support staff can be contacted by email (support@btckingdom.com), phone (+35 220 880 721), and via an email form on the contact page of its website. The support staff is knowledgeable and seems eager to engage/help. Support is available 24/6.

What does BTCKingdom offer?

As already mentioned above, there may indeed be quite a bit of potential in the services peddled by this exchange.

In addition to accepting fiat deposits (and thus providing an entry point for those looking to pick up crypto for fiat), the exchange supports some 800 cryptos, among them popular currencies such as bitcoin, bitcoin cash, XRP, Ethereum, Litecoin, Monero, ZCash etc.

The trading services provided by the BTCKingdom platform include maximum leverage of 1:4, liquidity derived from some of the biggest crypto exchanges, such as Kraken, Poloniex and Bittrex, a trading platform featuring professional-grade analysis tools, 300% margin loan as well as unparalleled market access.

All this sounds great, but is it all legitimate? By the current looks of things, the above said features do indeed seem to exist and to function as advertised. The whole shebang is available for mobile devices too, in the shape of a couple of apps which can be downloaded for free, directly off the official BTCKingdom site, for Android and iOS respectively.

It goes without saying that trading on margin and leverage is an inherently risky activity. Both of those components of the trading equation increase risk, so make sure that as a trader, you fully understand how they work and how they impact your profit/loss odds.

Accepted Payment Methods

If you are looking to purchase more exotic cryptos (or even better-known, almost-mainstream ones such as XRP), BTCKingdom may just be the answer to your prayers. While it is currently unclear how reputable the operation is among its users, it is still very young and thus there just was not enough time for relevant feedback to accumulate.

At any rate, the exchange accepts an impressive number of payment methods. They have VISA, MasterCard and Discover all “covered”, together with Skrill, Neteller, WebMoney and Qiwi. Obviously, deposits can be made in BTC, ETH and a number of other cryptocurrencies too.

The BTCKingdom Website/Domain

Given the fact that BTCKingdom is a new operation, it makes perfect sense to run a bit of a background check on the website/domain used by the exchange.

Created in July 2016, and updated in November 2018, the domain is registered to an entity, the identity of which is under wraps. The whois query does not yield any relevant results in this regard.

As the Whois information makes it clear, the age of the domain is not particularly impressive. Given that we are talking about a brand new operation here though, that does not carry much relevancy in this instance.

We’ve read reviews stating that BTCKingdom.com is not exactly a popular destination for the buying/selling of cryptocurrencies. The site apparently carries a global Alexa rank of 6,172,811 – which is not impressive to say the least. Once again though, this bit of information does not say anything relevant about the legitimacy of the outfit.

With the above in mind, it is hardly surprising that the domain authority rank of BTCKingdom.com is not very formidable either.

The Google review profile of the operation is very shallow, and by that we mean that hardly anyone has thus far taken the time to review it. This utter lack of reviews fits into the overall picture of the newly launched exchange though, so there’s nothing wrong with that. Furthermore: no reviews is still a LOT better than negative reviews.

What does the crypto-sphere have to say about BTCKingdom though? The short answer to that is: not much. Having searched bitcointalk far and wide, we came up empty-handed in this regard. This can be viewed as good news: when scammed, crypto victims are extremely quick to turn to a community forum such as bitcointalk, to warn members of the public there.

As said though, we failed to dig up such a red flag on BTCKingdom. The fact that no one thought it worthwhile to even mention the operation there, can again be jotted down to the tender age of the outfit.

BTCKingdom Complaints

Since first reviewing the shady nature of BTCKingdom there has been a steady stream of negative reviews and complaints.

Many online investors are going as far as calling BTCKingdom a scam.

Shared below are a few of the most relevant reviews we have found regarding BTCKingdom:

“it’s a scam, and they have called and spammed the wrong person to many times. i just ordered a nice “little present” on darknet for 3 person related to this company.”

“Hello, we are starting a claim against BTC KINGDOM…They are a scam and many people investing, have lost their money….So we need everybody that has been affected by this company to contact us..”

“It is proven that BTC Kingdom is a big SCAM, I have emails from people who are been scammed by this organisation, some people put all their savings in this company and BTCK do not want to pay the money back. Their website is build on cloud sharing. They let people buy bitcoins for them and on their website they claim to make more money by trading and exchanging. If it was that easy to earn money, the whole world would invest in BTC Kingdom, but people please do not believe their beautiful story…”

BTCKingdom.com Review Conclusion

BTCKingdom is NOT about cloud mining, and it does not make any too-good-to-be-true promises, successfully ticking off these two items on our review check-list.

Indeed, what the operation promises to deliver is perfectly plausible, feasible and believable. That said, it has to be pointed out that – at least for the time being – the operation is not regulated and licensed to provide investment-related services in any shape or form.

While user feedback is quite non-existent at this stage, it looks like the exchange is indeed paying “all those who have to be paid”. Some of their users even told us about their positive results with the exchange.

Verdict: BTCKingdom is a SCAM!

Blacklisted Site: BTCKingdom.com

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