Bitcoinnest (Imposter) has been flagged by Financial Markets Authority for "Registered/Licensed entity impersonators|Fraud and Other Types of Misconduct". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
I had high hopes for Bitcoinnest (Imposter) based on a colleague's recommendation, but my experience has been disappointing. Customer support is slow, the platform has frequent issues, and their fee structure is not as transparent as advertised. I am actively looking for alternatives now.
Pros: Dividend tracking|Market news feed|Regular updates
Cons: Wait times can be long during peak hours
Tried to withdraw my funds from Bitcoinnest (Imposter) and was told I needed to pay a "withdrawal tax" of 20%. This is a red flag. No legitimate broker charges withdrawal taxes. When I refused, they became aggressive and eventually stopped all communication. My entire investment is gone.
Pros: Initially responsive customer service
Cons: Lost entire investment|Reported to authorities|Unresponsive
The platform itself is okay, but the customer service at Bitcoinnest (Imposter) is truly awful. I waited weeks for a response to a simple inquiry. When they did respond, it felt like a generic template that did not address my specific issue at all.
Pros: Two-factor authentication|Automated trading options|Reliable uptime|Good mobile app
Cons: Inactivity fee applies after 12 months|Minor UI glitches occasionally
Their two-factor authentication was optional when I joined. I enabled it. Later I lost my phone and could not log in. Bitcoinnest (Imposter) recovery process took 3 weeks and required notarized documents. By then I had missed important trades. Their security is your inconvenience.
Pros: Great customer service|Comprehensive tools|Automated trading options|Full transparency
Cons: Inactivity fee applies after 12 months
Bitcoinnest (Imposter) has the worst mobile app I have ever used for investing. It crashes constantly, features that work on desktop are missing entirely, and the security implementation is questionable at best. How they released this app is beyond me.
Pros: Transparent fees|High security standards
Cons: Live chat only during business hours|Help articles are sometimes vague
I was about to invest with Bitcoinnest (Imposter) but decided to check their regulatory status first. They claim to be regulated but I could not find them on any official register. Financial Markets Authority has actually issued a warning about this firm. Thank goodness I checked before sending any money.
Cons: Not registered with regulators|Unrealistic promises
Do not use Bitcoinnest (Imposter) for anything serious. I used them since early this year for small trades and it was okay. When I deposited a larger amount and traded more, my account was flagged, my withdrawals were delayed, and I was asked to explain my trading. They treat active traders like criminals.
Pros: Great customer service|Educational resources
Cons: Spreads widen during volatile periods
I lost a significant amount because Bitcoinnest (Imposter) did not execute my stop loss during a flash crash. They said the market was illiquid. Other brokers managed to execute. I have no proof they did not trade against me. Avoid.
Pros: Risk management tools|Regular platform improvements|Portfolio tracking tools|Automated trading options
Cons: Live chat only during business hours