Paritex is this a scam? Reviews and description

In our review, we will take a closer look at the opportunities that the service has implemented for its customers and find out whether Paritex is a scam or a reliable exchange for trading digital assets.

Why Paritex

Paritex is cryptocurrency exchangewhich began its operation only recently - in 2019. For this short period of time the platform was able to enter the top 100 exchanges for trading cryptocurrency by trade turnover. The project is actively developing and gaining popularity. Although the company focuses on the international market, at the moment there are only two interface languages of the official site - English and Turkish. It is known that the main office of the company is located in Turkey, where the regulation of the site.

The service tries to provide its participants with comfortable, and most importantly, favorable conditions for cooperation. In total, the platform provides access to trade in 17 trading pairs. The main part of the trading turnover is: BTC/TRY, ETH/TRY, LTC/USDT, LTC/TRY, BTC/USDT, XRP/TRY, ETH/USDT, XRP/USDT, USDT/TRY and ETH/BTC. Also on the site paritex.com you can find a section called "Lagari" where the user can buy tokens at a discount. The offer is valid for a limited amount of time.

The trading platform has a fairly simple and standard interface. An experienced trader will need no more than 15 minutes to understand the basic functionality of the platform. The disadvantage is that there is no Russian-language interface of the official site, so users from the CIS countries may experience some difficulties. The trading terminal is divided into several blocks:

• on the left side the user can see the latest statistics on trading pairs of the selected cryptocurrency;
• In the middle there is a chart with information about a particular trading pair;
• At the bottom you can see information about open orders, as well as use the field to create a new order.

For new traders a separate section was created, where the user can find answers to the most popular queries, as well as read useful materials about the work on the cryptocurrency exchange. Thanks to the materials, an inexperienced client will be able to more quickly understand the basic functionality of the project.

Currently on the website paritex.com It is indicated that the mobile application is under development, but the mobile version is active for customers . Soon the application will be in the public domain and users will be able to access their account at any time and any place using their smartphone. Some of the main advantages of the exchange include:

• Loyal Commissions;
• the opportunity to buy a token at a discount;
• referral program;
• popular trading pairs;
• fast execution of orders;
• intuitive interface;
• security;
• Loyal Commissions;
• training materials for beginners;
• large volume of trades.

How to exchange cryptocurrency on the paritex.com platform

To proceed to the exchange of cryptocurrency, you need to go to the "Exchange" section. Then the client needs to make a few simple steps:

• choose a trading pair to exchange;
• fill out an order specifying the amount of cryptocurrency to be exchanged;
• press the Buy/Sell button, depending on the target.

Verification on the Paritex platform

The process of identity verification is mandatory for full-fledged work on the exchange. Verification consists of several stages. First, the client needs to register his account and confirm the email address by clicking on the link in the letter. Then the user needs to go to his profile and continue the verification process. It is necessary to fill out the following information:

• NAME;
• date of birth;
• number of the document proving your identity (passport, driver's license or ID-card);
• residential address;
• city;
• zip code;
• country of residence.

The next step is to upload color scans or photos of the ID document. The user needs to upload the front and back of the document.

The final step is to upload selfies. The user must hold in one hand an identity document and in the other hand a sheet with "Paritex" and the current date written on it.

On average, identity verification takes from several hours to several days, after which the client will have full access to the exchange. It is also necessary to connect two-factor authentication for the security of your account.

Deposit and withdrawal

To deposit, the user needs to log in to the system and click on the "Deposit" button, having pre-selected the cryptocurrency. Then it is necessary to copy the generated address and paste it to the payment system, where the transfer will be made from. It is also possible just to scan the QR-code.

Withdrawal of earnings

To withdraw funds, you must also first select the cryptocurrencies for withdrawal. Next follows:

• insert the address of the wallet to which the transfer will be made;
• specify the amount of cryptocurrency to withdraw;
• enter your profile password and click the "Submit" button.

Cryptoexchange Commission

There is a single trading commission of 0.2% for both makers and takers. This commission is pretty standard for most cryptocurrency exchanges.

Withdrawal fees

If there is no fee for depositing, there is a withdrawal fee, which directly depends on the type of cryptocurrency selected. So, for Bitcoin the fee is 0.0005 VTS, and for Ethereum - 0.01 ETH.

Paritex bonuses

Periodically, the exchange has various promotions, as well as accruing bonuses, but at the moment there are no active bonuses.

Complaints about Paritex

Because the project appeared on the financial market less than a year ago, one can find very few reviews on the Internet from users. In general, the exchange has a positive reputation, but there are also negative comments about the platform. On the positive side, customers note the loyal commissions and easy-to-use platform. Of the disadvantages noted is the lack of a Russian version of the interface of the official site, as well as the lack of fiat and mobile applications.

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Crypto exchange regulation

Due to the fact that more and more unscrupulous projects appear in the network, users need to check whether they have the necessary license, as well as the appropriate documentation.

Paritex regulator

It is known that the project belongs to the company Paritex Technology and does not have any license, but this may be due to the fact that the exchange is very young. The necessary documentation is publicly available to all users. The exact address of the project's headquarters is hidden.

Paritex.com User Agreement

"User agreement" is the main document of the project, which every user should get acquainted with before the beginning of cooperation. The agreement contains the basic information about the rules of trading activities, as well as the duties of organizers and clients. The disadvantage is that the document is presented only in English, which may be difficult for users from CIS countries. Let us consider some points in more detail.

The document informs that the company has the right to modify this agreement within the limits not violating the applicable laws and regulations, including the "Law on the Regulation of Terms and Conditions" and the "Law on the Promotion of the Use of Information Network and Communication Network Protection". If, however, the agreement is modified, the organizer undertakes to make a public announcement of the respective changes at least 7 days before the effective date of the modification.

The announcement is published on the main page of the official site paritex.com or through pop-up windows, in the form of public notices, specifying the date of application and the grounds for the amendments along with the current terms and conditions. It is also a condition that if the amendments are unfavorable to customers, the company must notify users at least 30 days before the agreement takes effect.

If the user provides false or unreliable information, the organization has the right to temporarily or permanently suspend the client's access to the service. For all losses, which were caused to the company or a third party as a result of providing false information, the corresponding user is fully responsible. When submitting an application, the organizer has the right to reject the application for registration if the following reasons arise:

• the resource of the object is limited;
• when a technical problem arises;
• other circumstances arise as a result of which the company was unable to approve the request;
• the name given by the participant is not real;
• the application is submitted under someone else's name;
• the application was submitted in violation of service rules.

The cases in which the organizer may block the trader's account are also clearly prescribed:

• in the case of theft of someone else's ID and password;
• intentional tampering with the service;
• the client's name is not real;
• Using the service to impede social and public interests;
• transmitting large amounts of information or advertising in order to interfere with the stable operation of the service;
• spread of a virus program that causes a failure of information or communication facilities or leads to the destruction of information;
• unlawful use of personal information of others;
• distribution of information obtained as a result of using the service without the prior consent of the company;
• registration of several profiles by one person;
• intellectual property infringement;
• when external agencies, such as the Turkish Communications Standards Commission, order corrective action or when the National Election Commission issues an authoritative interpretation related to an illegal election campaign;
• Users' personal information is collected, stored or disclosed without consent;
• the organizer has objective suspicions that the customer's use of the service is related to criminal activities, etc.

The Company has the right to suspend or limit all or part of its service to customers when normal service cannot be provided due to a national emergency, power outage, service facilities or service overload, if the service provider terminates service, or in the event of other force majeure events.

You should also take into account the fact that the company does not guarantee any refunds related to the service that are not stipulated in the current agreement. Moreover, the exchange cannot guarantee the value of cryptocurrency which is not issued or guaranteed by the company for payment.

The organization disclaims responsibility for the service if it cannot be provided due to a natural disaster, DDos attack, IDS problems, traffic overload on the service, problems with telecom operators' cables or other unavoidable reasons. Exceptions are cases in which the company has been intentionally negligent.

Periodically, the organizer may conduct regular, temporary or emergency checks on the servers in order to ensure a stable service. If the inspection reveals a significant difference between the market price of a cryptocurrency on domestic/foreign exchanges and the market price of a cryptocurrency pending sale/purchase on the service, after checking the servers, the organizer may cancel all pending orders in accordance with internal regulation in order to protect users.

The user understands and accepts the fact that the organization declines responsibility for the actions of users during transactions between participants or between a participant and a third party using the service as an intermediary. The company acts solely as a platform and is not a participating party. The exception to this is when the organization has been negligent to the participants.

Customer Service

You can contact a customer service representative via email: [email protected].

Is Paritex a scam?

Paritex - is a cryptocurrency exchange, which began its work on the financial market less than one year ago. During this period, the project actively developed and became popular among users around the world. The organization focuses specifically on the international market, but at the moment the interface of the official website is only translated into English and Turkish. The location of the main office of the company is in Turkey, where the regulation of the project is carried out.

The platform tries to provide its traders with comfortable conditions for trading in digital assets. Thus, each client gets the opportunity to trade 17 trading pairs. The most popular pairs are BTC/TRY, ETH/TRY, LTC/USDT, LTC/TRY, BTC/USDT, XRP/TRY, ETH/USDT, XRP/USDT, USDT/TRY and ETH/BTC. The Lagari section deserves special attention, where users can find tokens and purchase them at discounts for a certain amount of time.

From time to time the company conducts various promotions, as well as giving users bonuses. Also, each client can find a referral link in his profile to attract new participants to the project and receive a percentage of the commission for this. However, there is no information about the amount of remuneration on the site itself. Also, in the future it is planned to release an application through which traders will be able to access their profile and the project's functionality at any time and any place.

The service appeared on the financial market less than a year ago, so at the moment you can find quite few reviews from users on the Internet. In general, the company has a positive reputation, but there is still work to do. Having carefully studied the opportunities the project provides for its users, can we conclude that Paritex is a scam and fraud? No, because the company successfully operates and provides its services to customers around the world.

Conclusion

Paritex - is an exchange for trading digital assets, which began operating in 2019. In a fairly short period the company was able to enter the top 100 exchanges in terms of trading turnover and continues to actively develop. Although the service focuses specifically on the international market, so far the interface of the official website is presented in only two languages - English and Turkish. The company tries to provide traders with loyal and comfortable conditions for trading activities. However, before starting registration on the service's website, one should carefully read the documentation provided, because trading itself is quite a risky process.

At the moment exchange looks good among the competitors, but there is still work to do. If you were or are a client of the organization, leave your opinion about the functioning of the service on our website to form an independent rating of exchanges for cryptocurrency trading.