This review provides a solid reason for not getting involved in any way with Bitcoin & Autotrader.
What Bitcoin & Autotrader is about
Bitcoin & Autotrader is an online service which provides a bitcoin trading platform and a platform to trade cars for bitcoin.
This unusual combination of services is provided by a company that claims to be located in Malta and to have its platform certified.
Malta is one of the most crypto-friendly countries in the world, however they have clear rules for entities that want to buy and sell them. In fact, a license from the local financial regulator MFSA is needed.
Ant it is the MFSA that warned that:
- Bitcoin & Autotrader is not a licensed company in Malta
- Bitcoin & Autotrader is not even registered in Malta
- The company’s CEO Jomic Calleja Grech has no authorization in Malta
All this means that Bitcoin & Autotrader either is not even located in Malta, or it is operating illegally in Malta. Its trading platform obviously is not certified in any way.
Since the service is about trading bitcoin, you should stay away from it, because crypto transactions are irreversible. It means that you have no way of getting your money back in case someone scams you.
Bitcoin & Autotrader was proven to be dishonest, therefore you cannot trust it with your money. Your capital would be at great risk of loss with this company.
Bitcoin & Autotrader review conclusion
Bitcoin & Autotrader is breaking Malta’s laws, it is not licensed, we recommend staying away from it.
For trading you should always use regulated companies.
Always make sure that you are dealing with companies that have the necessary authorizations to provide services they offer.