bitpieexc.com is a fraudulent website imitating the cryptocurrency trading platform Bitpie (bitpie.com). The domain was registered on October 17, 2023, and claims to offer investment and trading services for mainstream cryptocurrencies such as BTC, ETH, USDT, and DCEP.
Company Background
According to public information from bitpieexc.com, this broker uses Bitpie as a brand name and is headquartered in Australia, regulated by Australia's Austrac financial institutions, with financial services qualifications. It claims to serve clients in more than 150 countries, with offices across the Americas, Europe, Africa, and Asia.
Upon investigation, it was found that bitpieexc.com has copied both the trading name and brand logo from the legitimate cryptocurrency platform Bitpie, whose only official website is bitpie.com.
Therefore, bitpieexc.com is essentially an illegal and unregulated phishing site.
Trading Products
bitpieexc.com claims users can trade mainstream cryptocurrencies such as BTC, ETH, USDT, and DCEP using a single trading account.
BTC:
- Bitcoin is the world's first cryptocurrency, created in 2009 by an anonymous developer known as Satoshi Nakamoto. Its primary purpose is to serve as a decentralized digital currency for peer-to-peer transactions, independent of any government or central bank.
- It is widely used as a digital asset and store of value, often referred to as "digital gold."
ETH:
- Ethereum is an open blockchain platform that supports smart contracts and decentralized applications (DApps). ETH is the native cryptocurrency of the Ethereum network, used for paying transaction fees and computation services.
- Ethereum is not just a currency but also a development platform, driving rapid advancements in decentralized finance (DeFi) and NFTs.
USDT:
- Tether (USDT) is a stablecoin pegged to fiat currencies, typically the USD. Its value usually remains at 1 USDT≈1 USD. Designed to address the volatility of the cryptocurrency market, it provides a stable value storage and trading tool.
- Widely used for fund transfers between exchanges and as a value-preserving means in cryptocurrency trading.
DCEP:
- Digital Renminbi is the official digital currency launched by the People's Bank of China. It is the digital form of China's legal tender, equivalent in value to physical cash but circulated electronically.
- DCEP aims to replace part of the cash circulation, improve the convenience and security of payments, and advance financial technology development.
Account Opening Process
The account opening process on bitpieexc.com is as follows:
- Visit the official website and click the "Sign up now" button to go to the account application page.
- Fill out the application form with a mobile number or email address, receive a verification code, and enter it in the form. Afterward, enter your name and set a login password. Submit the form to create the account successfully.
- After logging in, users need to complete the KYC verification process before trading.
Trading Account Information
bitpieexc.com does not disclose any detailed information about trading accounts on its website, making it difficult to assess the fairness and reasonableness of its trading conditions.
Trading Platform and Deposits/Withdrawals
bitpieexc.com claims to offer a self-developed trading platform but only supports web and mobile versions. In reality, the trading software provided is entirely different from the authentic software offered by Bitpie, and all download links are fake. This fraudulent broker also does not disclose deposit and withdrawal methods or fees.
Conclusion
Traderknows advises investors to be cautious, as bitpieexc.com is an illegal imitation of the genuine cryptocurrency trading platform Bitpie (bitpie.com). When choosing a trading platform, investors should prioritize those that are regulated and transparent to ensure the safety of their funds and reduce investment risks.
