UniSwap attracts clients by inviting them to “Swap, Earn and Build” their cryptocurrency holdings through a “decentralized crypto trading protocol.” UniSwap may not be an actual scam, but it’s still important to be careful about crypto platforms. The crypto space doesn’t have clear oversight and UniSwap has been flagged by regulators because of the multiplicity of customer complaints about its service.
We Have Found Some Problems with UniSwap
Even crypto financial services that aren’t outright frauds have caused their customers some inconvenience during the crypto crash. For instance, Celsius put a freeze on $8 billion in clients accounts claiming that “market instability” was the reason. It’s important to be careful in the crypto space, especially given the unregulated nature of the blockchain.
Uniswap isn’t a confirmed scam, but there are complaints from customers and it’s been flagged by regulators for not having a license. We therefore don’t recommend using its service and look further to search for regulated financial services instead.
The crypto crash has unfortunately been a teachable moment when consumers have realized it’s better to be safe than have your money with an asset that loses 2/3rds of its value in just 6 months. There are regulated brokers that offer crypto trading, and it’s better to look for those than to take chances on an unregulated platform.
What Should You Do If You Have an Account with UniSwap?
If you hold an account with this broker, close it right away and ask for a withdrawal of your funds. If the broker will not allow you to retrieve your funds, talk to ChargeBax professionals right away. We will investigate
