The cryptocurrency exchange Tipitek, which allegedly has existed since 2017, claims to have 1 million users and a daily trading turnover of 312 million dollars. Impressive statistics, right? Then why aren’t online reviews as numerous, and why isn’t the platform the talk of every corner? Is this information true, or is it just another pathetic attempt by a scammer to attract the attention of gullible traders and investors? Even more doubts are raised by the Singapore headquarters and an American phone number. Moreover, licenses are not even mentioned on the website.
Table of Contents
|Singapore, United Kingdom, USA, Estonia
|🎲 Demo Account
|⏳ Start Time
|💲 Minimum Deposit
|⚖️ Minimum and Maximum Leverage
|⚙️ Trading Platform
|+19178096981, +441513250009, +6531590299
First Impression of Tipitek.com
The official website of the company reveals a lot of information about services, capabilities, activities, and terms. Visitors can get acquainted with the exchange’s team, headed by Yee Seah, as well as with the brand’s development history. The main sections are located at the top of the Tipitek website:
- Affiliate program.
There is indeed a lot of information, so it may take some time to fully explore the site. However, we would like to note that in all this abundance of information, there is a prevalence of meaningless text that only complicates navigation and understanding of what the platform actually offers and what opportunities are available right now, not sometime in the future. Tipitek’s site seems cluttered. In addition, many facts are presented without proof.
There are also clear attempts at manipulation through fake merits and pseudo-advantages. The exchange tries to create an impression of a safe and reliable cryptocurrency project that can be trusted. We know very well, if a company outright screams that it is guaranteed safe and profitable, it is not.
Partnership and Bonuses
As stated on the official website, in 2023 alone, Tipitek paid out over 2.3 million dollars in affiliate rewards. The referral program here consists of several levels: 7% of the referral’s deposit is paid for the first level, 5% for the second, and 3% for the third. For example, if a trader invites a friend who invests $10,000, then the partner receives $700.
Such an affiliate program suggests that the exchange earns on client deposits, not commissions. Otherwise, the rewards would be from the commissions paid by the invited users. This already raises suspicions regarding the reliability and trust of Tipitek.
Account Opening on Tipitek.com
The process of creating an account in Tipitek begins with the usual provision of personal information: name, phone number, password, and email. Overall, nothing complicated, fairly clear and quick. However, the “create account” button was not active for continuation, but the problem was resolved by simply clicking several times, after which the client portal opened.
Then the trading terminal, which is integrated into the personal account, opens. There is no classic interface of a cryptocurrency exchange. For comparison, you can find the websites of popular crypto exchanges and see a significant difference from Tipitek.
By the way, there was no need to confirm the provided contact details, which undermines confidence in the security of the personal account. Also, we did not see the presence of a demo account in Tipitek.
In the client portal, users can only perform standard functions:
- Upload documents for KYC.
- Modify personal information.
- Deposit funds and submit withdrawal requests
Judging by the presence of buttons for uploading documents, there is a verification procedure in Tipitek. The company requires the provision of several types of documents:
- Verification of identity.
- Verification of residential address.
In addition, for some reason, the firm also asks to upload a photo/scan of a bank card. An absolutely unclear requirement, as none of the popular exchanges require this. Incidentally, Tipitek does not even disclose how long the KYC verification process takes.
- The exchange requires uploading a photo of the card.
- The processing time for the request is not specified.
Despite claims of having a mobile application, Tipitek has not yet created a platform for smartphones. On the website, there are icons for the official AppStore/Play Market stores, but they lead nowhere. Additionally, we did not find a mobile version of the platform in the personal account. Therefore, the terminal is only available in the form of a WebTrader.
The platform allows managing balance, using pending orders, and setting notifications. The terminal incorporates a chart and tools from the popular service TradingView, so clients have access to all the main technical analysis, including Fibonacci and Elliott waves, levels and lines, and other elements of graphic analysis.
How Can I Trade With Tipitek?
Judging by the list of trading assets in the terminal, the company specializes also in CFDs, providing access not only to digital currency but also to stocks and commodities. The conditions directly depend on which tariff the trader chooses.
All Info About Accounts
Tipitek offers clients a variety of account types:
- Mini. Requires a minimum deposit of $500, and the investment period is 180 days. It’s not entirely clear to us why such a high minimum deposit is required and what “investment period” means. In addition, this tariff includes leverage up to 1:5, standard commissions for deposits/withdrawals, a weekly email newsletter, and a test period of consultations from an analyst for a week.
- Easy start. At least $5,000. Quite a serious gap in the minimum deposit compared to “Mini”. Perhaps the service will be much better and more diverse? However, no. Owners of this tariff receive a personal manager from Tipitek upon request, free deposit and withdrawal operations, and 1 signal per week. Not very impressive.
- Start+. From $25,000. Adds daily analytics, 3 signals per week, educational materials, 1 built-in robot, and 1.5% yield for saving accounts. Here, the service is more interesting, but the required balance is staggering.
- Pro. From $100,000. The investment period is reduced to 90 days, and leverage is increased to 1:10, also includes 4 consultations per week, 3 risk-free trades, 5 signals weekly, 2% yield, and 2 bots.
- Pro+. At least $500,000. The same services, but on more favorable terms, and leverage of 1:20.
- Extra. Requires a balance of 1 million dollars. Priority in trade execution, with the rest of the service being unlimited.
This approach to dividing account types is often found in fraudulent CFD brokers who try to extract more money from clients with tariffs offering better conditions. Is Tipitek doing the same?
In the section dedicated to tradable instruments, the exchange misleads users by indicating tokenized assets. Probably, the company meant CFDs, because to provide access to tokenized assets, the necessary licenses are needed, which Tipitek definitely lacks. Additionally, in its history, the firm describes launching a CFD service.
Where does the exchange pay up to 48% annual yield to investors? Also an interesting question, as it remains open. Almost always, a yield higher than 5-10% annually in USD indicates a financial pyramid (Ponzi scheme). And one can recall the type of affiliate program where payouts are made from the deposits of invited clients. Therefore, we have no doubts that the company also operates as a low-income HYIP.
- Diverse opportunities.
- There are signs of a financial pyramid.
- High minimum deposit.
- Commissions are not specified.
- The platform offers a “pay more if you want to get better” service.
Market Analysis and Education With Tipitek.com
In addition to the services mentioned in the tariff descriptions, Tipitek offers others. For example, assistance from a personal manager whose task is to advise clients, assist in making transactions, and create a trading and investment plan. Besides, there is an instant cryptocurrency exchange, online quotes, and news.
Deposit, Withdrawal, and Fees
Among the available methods of depositing and withdrawing funds, we only see cryptocurrency. Moreover, it supports a limited list: Bitcoin, Ethereum, Tron, USDT TRC-20, and USDT ERC-20. Strangely, you can’t top up your balance with any digital currency traded on the exchange. Tipitek charges a commission for transfers only for traders with the “Mini” tariff, as transactions are free for all others. Also, it’s worth considering that the size of commissions is not disclosed, nor is the processing time for withdrawal requests.
The website has a document describing the Payment Policy. It mentions transfers via bank wire transfers and credit/debit cards. However, we did not see such methods in the personal account.
How Can I Contact It?
You can contact the platform’s managers in various ways. There are three phone numbers and several emails created for specific tasks, such as technical support, finance, analytics, and so on. However, Tipitek lacks an online chat, although it is a standard tool for prompt communication with support staff.
The firm also provided links to Instagram, Medium, and X. The number of subscribers there is so small that information about 1 million users looks simply ridiculous. The quality of content from Tipitek also leaves much to be desired.
- There are multiple emails and phone numbers.
- No online chat for prompt communication.
Is Tipitek Dangerous?
Honestly, the platform looks maximally suspicious and dangerous. Some strange conditions where even commissions are hidden. No wallet and mobile application has been created, although the exchange claims a solid period of operation, during which many competitors become giants of the industry with tens and hundreds of millions of users. Tipitek does not look like a safe and profitable platform for trading. However, for a final verdict, we need to check the legitimate status and understand the real period of operation.
How Long Does The Broker Work?
Is it really true that the company has existed since 2017, as we have serious doubts about this fact. Let’s try to figure it out. We already noticed the small number of followers on social networks, which were created in 2022-2023. Online reviews on the internet are also scarce. Meanwhile, Tipitek’s website domain was registered in 2020, but until 2023, it hosted another company dealing with technology services. Snapshots from Webarchive provided this information.
Therefore, it is quite logical to assume that the platform was launched only in 2023.
How Is Tipitek Regulated?
So, the founding date and the claim of a million users turned out to be fake. And what about the legal address in Singapore? Does the company have any licenses? To verify this, it is necessary to check the legal entity CRYPTOVES LLP. It is indeed listed in the registry of legal entities, but it was struck off in 2021. And now remember that Tipitek appeared only in 2023. Doesn’t quite add up, right? It seems like we are being pointed to a completely different legal entity, having no relation to the firm.
We additionally checked the MAS registry, which regulates the activities of financial companies, including brokers and crypto exchanges, in Singapore. Nothing was found there.
|AI Global Group
Frequently Asked Questions (FAQ)
How to Trade With Tipitek?
Is Tipitek Legit?
How Risky Is It?
The fact that the platform only supports cryptocurrency speaks volumes. For example, it shows the management’s desire to remain anonymous. Additionally, cryptocurrency is structured in such a way that a transaction cannot be canceled, making it impossible to return funds. The Tipitek team, which can be found on the official website, is likely fictional, and the photos are taken from the internet. Fraudulent brokers like to invent a story and create a professional team to appear as a serious organization. However, remember that the company’s activity is illegal, licenses are absent, and its operating period is less than a year.