bitandcoins.com validity www.bitandcoins.com

By Coert Groenewald, from South Africa, September 8, 2020 at 08:11 PM

Trying to research the validity of bitandcoins.com trading platform of which brokers operate from UK. They are using cryptonet.exchnage as exchange clearing. cannot find anything or any reference

Answer: Hi Coert Groenewald,

There is not much information about this broker online and also there is absolutely no information about broker’s regulation or authorisation, meanwhile the broker claims to be located in the UK. We haven’t found any proofs of the broker’s license in the regulator’s register.

In addition, there are a lot of negative reviews about Bitandcoins, where clients complain about withdrawal problems and abusive sales managers. We would recommend you to stay away from this company and choose from the well-regulated brokers. 

22 responses to “bitandcoins.com validity”

  1. I have been a Bitandcoins customer since the first week of August 2020 and, I might add, a very unhappy one at that. The Account Manager assigned to me, Thomas Carter, managed to convince both my wife and I to invest more money on trading as we would stand a better chance of earning the few dollars more that would help us make ends meet each month. Firstly we invested the STANDARD amount of R 4 500.00, as stated in your add on the internet. A few days later we invested and additional R 30 000,00. We were able to raise the money by selling our car.

    I am very disappointed with Mr. Thomas Carter because on 7 August 2020, my first trade, he announced that he was going on a business trip to Denmark and that he would be in contact with me again on Tuesday, 11 August 2020. Thomas Cater did not tell me how to close a trade and how to take the profit, should one want to.

    I kept a watchful eye on my trades and at about midday on Monday, 10 August 2020, my wife and I were ecstatic, the trades actually showed a profit of US$ 400.00. It may be small change to some people, but in our country the US$ 400 equates to our total monthly income.

    However, our joy was short lived as the trades soon started losing ground and I anxiously awaited Thomas Carter’s telephone call on Tuesday 11 August 2020. That did not happen and at 11H54 I sent Thomas Carter an email asking him whether I could expect him to contact me. He sent me an email stating that he was still on business in Denmark and that he would phone me between 9H00 and 11h00 local time on Wednesday 2020. This did not happen either. I was so panic stricken about the trades losing ground that I decided to close them, two of them at a loss ant two of them with a very meagre profit.
    A number of emails evolved and eventually Thomas Carter contacted me on Monday 17 August 2020. He was most apologetic that he had let me down so badly and that I needn’t worry as he would take special care to help me with some trades.

    Thomas Carter then guided me through the investing procedure and then advised me to trade in OIL OCT 20 and USDZAR. Then our connection was broken due to a power blackout at my end of the line. )We have these blackouts three times a day for the duration of two and a half hours each.)
    Thomas Carter phone me on 18 August 2020 and advised me to invest in BITUSD and GOLD. He would locate the trade, enter the amounts to buy and told me to click on INVEST.

    Suffice it to say that I have been sending Thomas Carter email upon email with little or no response. I questioned his choice on the trades as we invested in them at their peak, but his answer was, as long as the trades remain open you cannot lose any money. It got so bad that I asked him, by email, whether I should close the OIL trade as we were breaking even on the trade, but no answer and from then all my trades were closed by your system.

    On Friday, 4 September 2020, Thomas Carter told me to deposit another US$ 500.00. I told him there was no more money to invest, He then guided me to me to invest in OIL again but double up to cover the loss. Well, the bottom fell out of the oil market and that trade was also closed by your system.

    On Wednesday, 9 September 2020, a person by the name of Kees phoned me about my account and suggested that I should invest more money. I told him that I do not have anymore money. He said he would contact me again, but I have not heard a word from him.

    At this juncture I wish to point out that I have had a very shoddy experience with your company, which has cost me every penny that I posses.

    I look forward to you response

    • I to have had similar experiences with Bitandcoins I am a pensioner and have a very poor pension. I decided to try an investment to up may income also to make ends meet. It is not worth going into detail but yes I am very disappointed at the results and have quit all forms of online trading. I can’t afford to take another knock. Over and above I am very disappointed and have lost all interests in this type of business.I have also had bad experiences with online shopping the ads show an awesome product but when it arrives it is cheap Chinese products. No more of that thank you if I can’t see it and touch it and study the specifications plus getting a full guarentee the I am not interested. My heart felt sympathy to all poor and unsuspecting people than have had the same experience.May God’s will be done.

  2. 9/17, 10:52 AM] Johan: Instead of sending my funds to my bank account in South Africa Phillip Meyer did an unauthorized trade with my money.
    I am sending to day all the correspondence to Facebook, all the Social networks,IFSC
    Hello Peter and) other webpages who warn and comment on Forex Brokers as proof what happened to my dealings with BitandCoins when I reacted on a Facebook advertisement of Qinvest on 25 July 2020.
    You did not sent me bank proof that my $397.80 minus your small fees as detailed under withdrawal section on your platform have been deposited to my bank account in South Africa as instructed to you on the 9 th September 2020.
    [09/17, 10:53 AM] Johan:

    Proof of unauthorized trade instead of remitting my money to my bank account in South Africa He did a DAX 30 trade.
    Your trade #30689 on asset undefined was closed due to insufficient margin collateral funds with profit -299.14 at date 28/08/20 15:20:23
    ALL
    COMMODITIES
    INDICES
    STOCKS

    ASSETS SELL(BID) BUY(ASK) % Alert
    OIL OCT20
    3 9 . 4 6
    3 9 . 4 6
    1.53
    Details
    GOLD
    1 , 9 4 0 . 6 7
    1 , 9 4 1 . 4 2
    0.48
    Details
    Nasdaq 100 DEC20
    1 1 , 0 3 5 . 8 8
    1 1 , 0 3 9 . 3 8
    0.46
    Details
    SILVER
    2 6 . 7 1 3 0
    2 6 . 7 6 8 0
    0.67
    Details
    BRENT NOV20
    4 1 . 5 3
    4 1 . 5 8
    1.75
    Details
    S&P500 DEC20
    3 , 3 1 9 . 5 0
    3 , 3 2 1 . 0 0
    0.56
    Details
    PLAT OCT20
    9 4 2 . 0 0
    9 4 5 . 0 0
    0.24
    Details
    FTSE DEC20
    5 , 9 8 7 . 2 5
    5 , 9 9 0 . 7 5
    0.07
    Details
    NGAS OCT20
    2 . 2 3 9
    2 . 2 4 9
    -0.80
    Details
    JSE 40 DEC20
    5 2 , 0 6 1 . 5 0
    5 2 , 1 0 6 . 5 0
    -0.15
    Details
    COPPER SEP20
    3 . 0 1 7 3
    3 . 0 2 2 3
    0.03
    Details
    HOIL OCT20
    1 . 0 8
    1 . 1 1
    0.91
    Details
    NIKKEI225 DEC20
    2 3 , 1 3 2 . 0 0
    2 3 , 1 4 3 . 0 0
    0.23
    Details
    EBUND DEC20
    1 7 3 . 9 0
    1 7 4 . 2 5
    0.12
    Details
    COTT2 OCT20
    6 4 . 6 9
    6 4 . 9 4
    0.32
    Details
    TN10 DEC20
    1 3 9 . 3 8
    1 3 9 . 6 3
    0.04
    Details
    TOPIX500
    1 , 2 6 4 . 3 7
    1 , 2 6 5 . 6 2
    0.12
    Details
    EU Stocks 50 DEC20
    3 , 1 1 1 . 7 3
    3 , 1 1 3 . 2 8
    0.00
    Details
    VIX OCT20
    2 2 . 5 1
    2 2 . 5 4
    0.00
    Details
    GLT SEP20
    1 3 7 . 0 1
    1 3 7 . 2 6
    0.07
    Details
    TB30 DEC20
    1 7 6 . 5 0
    1 7 6 . 8 0
    0.12
    Details
    TN5 SEP20
    1 2 5 . 7 7
    1 2 6 . 0 2
    0.00
    Details
    DAX30
    1 3 , 2 3 4 . 6 1
    1 3 , 2 3 4 . 6 1
    -0.07
    Details
    TESLA
    4 4 1 . 9 5
    4 4 1 . 9 5
    -0.05
    Details
    CAC40
    5 , 0 6 6 . 3 0
    5 , 0 6 6 . 3 0
    -0.20
    Details
    DOW DEC20
    2 7 , 4 9 1 . 7 5
    2 7 , 5 0 4 . 2 5
    0.53
    Details
    APPLE
    1 1 2 . 1 5
    1 1 2 . 1 5
    0.00
    Details
    MICROSOFT
    2 0 4 . 9 7
    2 0 4 . 9 7
    -0.02
    Details
    BOEING
    1 6 7 . 5 2
    1 6 7 . 5 2
    0.00
    Details
    BP
    2 5 5 . 6 8
    2 5 5 . 6 8
    -1.79
    Details
    AMAZON
    3 , 0 7 7 . 5 5
    3 , 0 7 7 . 5 5
    0.02
    Details
    GOOGLE
    1 , 5 2 1 . 2 2
    1 , 5 2 1 . 2 2
    0.00
    Details
    VOLVO
    1 7 1 . 5 0
    1 7 1 . 5 0
    0.63
    Details
    LAFARGE
    4 1 . 1 1
    4 1 . 1 1
    -0.22
    Details
    LLOYDS
    2 6 . 6 8
    2 6 . 6 8
    -0.15
    Details
    BEIERSDORF
    9 7 . 9 3
    9 7 . 9 3
    -0.02
    Details
    PGE-WAR
    5 . 3 9
    5 . 3 9
    -2.68
    Details
    BARCLAYS
    1 0 2 . 9 7
    1 0 2 . 9 7
    -1.36
    Details
    JUVE
    0 . 9 3 3
    0 . 9 3 3
    1.20
    Details
    DEUTCHE BANK
    7 . 8 5
    7 . 8 5
    -0.13
    Details
    LUKOIL
    4 , 8 4 3 . 7 5
    4 , 8 4 3 . 7 5
    -0.08
    Details
    HARLEY DAVIDSON
    2 6 . 4 6
    2 6 . 4 6
    0.04
    Details
    TATNEFT
    5 2 7 . 9 0
    5 2 7 . 9 0
    -0.64
    Details
    TENARIS
    4 . 7 7
    4 . 7 7
    1.31
    Details
    RTS DEC20
    1 2 3 , 6 3 5 . 0 0
    1 2 3 , 6 3 5 . 0 0
    -0.09
    Details
    GAZPROM
    1 8 3 . 5 6
    1 8 3 . 5 6
    -0.26
    Details
    HUBS
    2 7 7 . 2 9
    2 7 7 . 2 9
    0.00
    Details
    VODAFONE
    1 0 9 . 2 8
    1 0 9 . 2 8
    -0.89
    Details
    FACEBOOK
    2 6 3 . 5 7
    2 6 3 . 5 7
    0.00
    Details
    DJIA
    2 8 , 0 3 6 . 0 8
    2 8 , 0 3 6 . 0 8
    0.00
    Details
    APAM
    2 4 . 8 5
    2 4 . 8 5
    0.82
    Details
    VOLKSWAGEN
    1 5 7 . 1 5
    1 5 7 . 1 5
    -0.48
    Details
    ORACLE
    6 0 . 4 1
    6 0 . 4 1
    -0.02
    Details
    BVB
    6 . 2 7
    6 . 2 7
    6.68
    Details
    SAMSUNG
    1 , 3 0 6 . 0 0
    1 , 3 0 6 . 0 0
    0.35
    Details
    BASF
    5 4 . 9 8
    5 4 . 9 8
    -0.44
    Details
    NETFLIX
    4 8 3 . 6 9
    4 8 3 . 6 9
    0.00
    Details
    HUGO BOSS
    2 4 . 6 9 5
    2 4 . 6 9 5
    1.43
    Details
    NSDQCO
    1 1 , 0 5 0 . 4 5
    1 1 , 0 5 0 . 4 5
    0.00
    Details
    SAIPEM
    1 . 6 8
    1 . 6 8
    2.48
    Details
    PLAY
    1 9 . 1 2
    1 9 . 1 2
    0.00
    Details
    HEINEKEN
    7 7 . 7 5
    7 7 . 7 5
    -0.03
    Details
    AZN-LON
    8 , 5 4 1 . 0 0
    8 , 5 4 1 . 0 0
    -0.27
    Details
    GODADDY
    7 3 . 4 6
    7 3 . 4 6
    0.00
    Details
    TNA
    3 3 . 6 8
    3 3 . 6 8
    0.00
    Details
    SIEMENS
    1 1 8 . 2 4
    1 1 8 . 2 4
    0.89
    Details
    INTESA
    1 . 7 5 5
    1 . 7 5 5
    -1.58
    Details
    CONTINENTAL
    9 4 . 8 5
    9 4 . 8 5
    -0.07
    Details
    PRGO
    4 9 . 8 3
    4 9 . 8 3
    0.00
    Details
    TERNA
    6 . 0 5
    6 . 0 5
    -0.66
    Details
    DAIMLER
    4 6 . 1 1
    4 6 . 1 1
    -0.02
    Details
    PZU-WAR
    2 7 . 4 3
    2 7 . 4 3
    -0.32
    Details
    BAYER
    5 6 . 4 7
    5 6 . 4 7
    -1.00
    Details
    BMW
    6 4 . 4 9
    6 4 . 4 9
    -0.28
    [09/17, 10:57 AM] Johan: I am proceeding by disclosing to all abovementioned.

    Sent from my Huawei phone +27 84 5843521

  3. I invested the sum of R40 000 from the start. that was in July,2020. Thomas Carter was the broker, he called about every second day and send regular reports, through emails. Suddenly an amount of US$8500 change into the meagre sum of $78.48! He phoned again after that but asked to withdraw some more money. I told him that everything i had was with them. I am very dissapointed that I lost that amount of money and they still insist for another deposit! Never trust them again!

  4. It seems that i am gone follow in the same trap than other s did. Any advice in dealing with these scamsters . Thanks for mentioning your story

  5. My sincere appologies for the way i judge. I believe that my consultant doing its best to improve my financial states. I costed me so money but believe that i will bear the fruit at the end of the day. Off course the better i do the better is his commission. Win win situation. Tx Simon for handling the situation so proffesional. Keep up the good work

  6. Good day i have been reading your comments, me and my son we started trading with Bitandcoins, we started on 26/11/2020 with the amount of R4500.We were assisted by the person called{personal advisor} Elena Gordon who used to call us each and every day, but things changed after we deposited the money, she stopped suddenly, a few days after that a guy called LOUIS ONASIS{account manager }called me and asked me to invest R20000,I disagreed and our P.A and A.M disappeared, till on the 29/11/2020 when i sent them a whatsapp asking for a print out of our trading proceedings thats only when she decided to disappear , because she refused to closed the account, when asked to do that they both preferred to ignored my massages and calls, today on 04/12/2020 Elena chose to blocked me and my son,that is what happened to us with Bitandcoins staff

  7. I had the same experience with the consultant i had to work with. Intentually traded against me and lost all money invested. Very rude and unproffesional. Simon is his name. God dont sleep. Red alert. Stay away from this scamsters. This so called company must close down. Ruine peoples lives and put yourself in financial strain.

  8. Recently I opened an investment account and worked together with Simon, I would like to point out that Simon invests and gives me guidance and response on a regular basis, I have seen money back. Thank you

  9. Well if Simon helped you then you are lucky. We have lost over R370 000.00 through him. We were standing on over 1.3 million and when I sent him a message that we want to withdraw an amount he went and lost all our money. Trying to get it back and they just wont answer my emails. Going to take it further now.

  10. very happy with Simon and his trading team
    keep up the good work guys. always will be investors that will have something to say
    I want to share with you people that I had a pension account with over 10 Mil R
    at old mutual and made a decision 9 years ago to cash out and start trading my self
    best thing I have done for me and family ever.

  11. Great partnership and work regarding the trading from Eddie and Leon
    Started with 4,000 R and climbing up
    the Covid – 19 gave me multiply of opportunities. my Trust account with Standard bank has been cashed out in to the trading platform with Bitandcoins and generating A monthly income
    highly recommended

  12. Bitandcoins – If something sounds too good to be true, it normally is too good to be TRUE.
    At the end of last year, I found an advert of Facebook (big mistake). It seems to be a very legitimate company and the person on the advert seemed really clued up and very convincing. I gave up my name and a call followed shortly after. I couldn’t speak to the person and asked if they could call back the next week. He was very rude and hang up. In the following week I received a call from someone else and he explained to me how great the system is and you only need to invest $250. I agreed to that and my account was opened after I had to send some info through. A day or so later I was called by another agent who said from that point on he will be looking at my account. First, he asked me to add money into the account as $250 is not much to trade with and it would take a very long time to make money. He convinced me to add another $250. This is where the scary part starts. He was so convincing that he said that if I logged into my bank account that he would show me how to move money around to add more to my trading account. In this process he taken more money out of my account and added an additional $4500 dollars into the account. With this he also added a $5000 dollar bonus onto my account. This seemed so generous. This was not strange to me as I have traded before and I received a bonus with another broker and had no problems with it. The agent worked out a financial plan and showed me – on paper – how much money I can make. For the financial plan to work he said that he will help me to trade and make $6500 per month. Don’t be fooled. There was a catch. He emptied out my other bank account and took another $12500. When I asked him about a withdraw, he refused me and said that the company needs to make back the bonus money I received. I requested the withdraw on the system 3 times and the agent cancelled it every time. He requested from me to take a loan from the bank to increase my money in the trading account and I said that I cannot do that. In this time, I trade on my account and the equity went up nicely. He phoned me and said that he wants to activate an algorithm to my account that would increase my equity so that the company can make back the bonus they have added to my account. At that time, my account balance was ± $32000. I agreed to activate the algorithm. The amount that was traded with were so high that my most of my account were wiped out. The ±$1300 that was left in the account were removed from my account and only showed as the bonus being taken back.
    Do not be fooled by these people. They come across as you best friend but are wolves in sheep clothing. According to me this is a company scamming people out of their money. They do not care about you. They steal your money.

  13. lovely investor by Mr Adelberg and his trading team
    the covid 19 hasn’t been the best time for most of us
    but thankful for bitandcoins team for the hard pension money work I had invested here
    well done

  14. Good morning all
    most say i have been reading all comments about bitandcoins company and must say that people here blaming only bitandcoins without looking on themselves…
    you need to understand in the financial market there will always be a risk
    but need to know how to manage it right
    so please stop only blaming one side.
    i had ups and downs too here but the over roll my account is been managed in a perfect way by Simon’s team
    highly recommended

  15. Eddie from bitandcoins is my broker and I highly recommend everyone who is joining this company to ask for Eddie
    he is managing my pension money I WD out from old mutual and invested the money here 4 years ago.
    yes we had bad days too but this is the market guys.!
    anyway in the end of the line the trading is done by the trades and not brokers they are here just to give us advise and service.

  16. I have been tending since November 2020,also asked to increase initial investment from $1000 to 11000.i understood the motive, to expect decent returns the investment should be substantial.
    I arranged with my broker to enable a monthly withdrawal and have had 2 successful transactions, I now have a new broker and am awaiting my 3rd withdrawal, sofar I am happy with service and returns. Better than a bank

  17. Mr Adelberg from bitandcoins highly recommended broker!!
    been with them since covid 19, started and as I got more and more info about how the stock market is working I’ve educated myself on a level to make sure I get my daily income.
    i closed off one my pension contract with Sanlam and old mutual to invest with bitandcoins trading pension team and I cannot be more satisfied
    we had ups and downs as usual that could may happen to everyone in the market but that’s why you need to handle your account with a risk management plan too

  18. To add to my previous comments. I would like to know how is it that most people commenting have lost and only a very few gave scored.I don’t agree to one comment that we don’t blame the traders but ourselves. BS some are ignorant when it comes to trading and some know what to do. And according to most comments some of your staff appear to be totally unqualified.

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