In this review we dive deep into what Canopus Exchange is offering and why you should be very careful in regard to this service.
What is Canopus Exchange
Canopus Exchange is presented as a cryptocurrency exchange that will allow you to trade the digital assets GEC and TRX.
The exchange promises secure storage, 24/7 support and extra income. The presentation goes as far as saying that Canopus Exchange is the most trusted cryptocurrency platform and the biggest crypto exchange in the world.
But is it true, is Canopus Exchange legit?
When analyzing Canopus Exchange, we encountered several red flags that lead us to recommend avoiding this exchange. Here are the details.
The first thing you should notice on the official Canopus Exchange website is that it is unfinished. There are dummy latin texts across the entire site, which is a bad sign.
What is even more alarming is that key sections are completely missing! You can click on the links at the bottom of the site and you will see that most of the links don’t work or they lead to an empty page.
Another empty place is the exchange itself. When you open it, you will find only two trading pairs: GEC/INR and TRX/INR. But there is no trading going on.
No bids, no asks, no past trades. Nothing is happening, Canopus Exchange seems to be completely dead. If there is no liquidity whatsoever, you certainly should not send you money there hoping you will be able to buy or sell anything.
Another big problem of Canopus Exchange is that it is spreading lies. On its website it says that it is the most trusted cryptocurrency platform.
Says who? Canopus Exchange is not even listed on coinmarketcap.com among exchanges, so it certainly is not the most trusted one.
What’s more, in its promotional video Canopus Exchange says that it is the largest crypto exchange in the world. Which again is not true.
Knowingly lying this way makes it look like a scam, there’s no other way to put it.
The GEC Coin
The Canopus Exchange is offering trading with the GEC coin, which stands for Green Energy Coin. However, we see a huge problem here.
Because in its promotional video the exchange shows the Gecoin.life link, while the real website of the real Green Energy Coin is Carbon-neutral.earth.
The real GEC runs on Binance Smart Chain, while the GEC promoted by Canopus Exchange runs on Tron, therefore two different blockchains.
So it seems that Canopus Exchange is selling a different token than the official one that is listed on Coinmarketcap.com. Again, this looks very suspicious. The GEC sold by Canopus Exchange could be a scam coin.
And finally, when you try to find any information about the company that is running the Canopus Exchange, you won’t find anything.
It claims to be based in India, but there is no company with this name registered in India. We can’t physically verify the address that Canopus Exchange provides, but we can see that the phone number they provide is clearly fake.
So the exchange gives no real contact information, which is just another red flag.
Canopus Exchange review – Conclusion
Canopus Exchange has many problems: the website is unfinished, it is missing key information, the exchange seems to be dead, they seem to sell a fake Green Energy Coin and the company behind the exchange is probably fake. We recommend staying away from it.
If you are interested in legit crypto trading, you can start on a free demo with a regulated broker. You will get virtual money so you can practice.
Should you decide to trade with real money, be sure to clearly understand the risks.