Chiliz.net Review – Illicit In Every Aspect Of Their Operations

The company that owns and runs chiliz.net doesn’t instill much trust as an offshore conduct. You see, the business is allegedly incorporated in accordance with the laws of the Republic of Seychelles.

However, that can quickly be proven to be false, as soon as you start checking with the jurisdictional authorities.

So think twice if you’re still willing to invest your hard-earned money in an exchange that has not been legit since the very start of their business.

Broker status:	Unregulated Exchange
Regulated by:	No license
Operating Status:	Active Crypto Trading Sham
Known Websites:	chiliz.net
Blacklisted as a Scam by:	N/A
Owner:	Entertainment Trading Technologies Ltd
Headquarters Country:	Seychelles (alleged)
Foundation Year:	2018-01-13
Online Trading Platforms:	Web and mobile
Mobile Trading:	Yes
Minimum Deposit:	1 USDT/ 1 Fan Tokens/ 0.0001 BTC
Deposit Bonus:	N/A
CFD Trading Option:	No
Crypto Asset Trading:	Yes – BTC, ETH, CHZ
Available Trading Instruments:	Crypto
Maximum Leverage:	N/A
Islamic Account:	No
Free Demo Account:	No
Accepts US clients:	US clients are not accepted
Global Fraud Protection Experts’ Verdict:	Not a trustworthy platform – better invest with safer solutions!

Safety Issues and Legal Concerns

With the number of fraudulent offers online and the amount of cash stolen by unscrupulous crypto providers, the financial regulators are increasingly more strict when licensing virtual asset service providers. The situation is still bad in the offshore zones, such as Seychelles, where this business is supposed to be operating from.

The problem is that the owning company, Entertainment Trading Technologies Ltd, cannot be found in the register of businesses on the site of the Seychelles government. That means that the platform is not even registered as a business agency, let alone a licensed crypto exchange.

To make sure we aren’t missing anything, we also went through the registers of FCA, AUSTRAC, NFA and CySEC but found nothing. If you care about the safety of your investments, you should also stay away from TraderOne. Both of these firms provide no reliable safety and security of data and capital.

Present on Social Networks

The biggest number of acquired targets boiler room agents find while lurking on social networks. The company owns profiles on all most popular social platforms and apps at the moment: Facebook, Twitter, Telegram, Reddit, and Weibo. These facilitate direct communication with their potential customers.

Although not overly active, the company promotes their services diligently and gets under the skin of their victims by promising most alluring trading conditions, low costs and high returns.

Unfortunately, things don’t exactly work that way, and crypto trading is anything but easy and profitable as the schemers make it sound.

Diverse Areas of Operation

The domain was indeed established as the company claims – January 2018. The greatest problem with this online trading portal is the fact that it has never acquired a proper license to be labeled as safe and reliable for crypto investments.

That has apparently never stopped the fraudsters from offering their services to the various countries:

• Turkiye
• Brazil
• Poland
• Vietnam

There’s no particular filter the swindlers go by, their ultimate ideal is to reach as many people as possible. So if you have also been targeted, please contact us for help on how to restore your stolen capital.

Common Web Trading Solution

The Chiliz.net exchange utilizes a commonly seen web terminal for their services. The TradingView chart it is based on somewhat means that the price movements are realistic… well, to some extent.

It is known that such technological solutions tend to be heavily manipulated. That is especially practiced by unlicensed portals that aim to affect their clients’ investment decisions. It can’t be denied that the distribution is comprehensive and user-friendly. Unfortunately, looks aren’t crucial in this field and take the last place on the priorities list.

Free Mobile App

The Chiliz.net crypto apps are available for download on the major app stores completely free. The links to the App Store and Google Play databases are available from the site.

Once again, we cannot say we recommend the shady service provider without a valid crypto license, regardless of the number of downloads or variety of offer.

Original Portfolio

The ]assets provided by the Chiliz.net network are quite interesting. That still doesn’t change the fact that they’re completely unreliable and dangerous for investing, though.

The sport fan tokens are traded against the CHZ, proprietary token established by the company itself. Its current value is quite low – $0.08167 and decreasing.

Either way, some of the most popular pairs traded are:

• CHZ – Fan Tokens (ACM/CHZ, BFC/CHZ, INTER/CHZ)
• USDT – Fan Tokens (AFC/USDT, JUV/USDT, PSG/USDT)
• Other pairs (BTC/USDT, CHZ/BTC, CHZ/USDT, ETH/USDT)

Zero Accounts to Choose From

Account opening process is quite simple and you can choose if you wish to verify the account via email or phone number.

However, just like with BITsv, you have to deposit real cash if you intend placing orders, which means that the test environment for the platform isn’t provided.

What’s more, a veil of secrecy surrounds this live trading package, as no concrete features are given, except for the deposit requirement. The expectation depends on the currency but in general you can invest as little as 1 USDT or 1 Fan Tokens or 0.0001 BTC.

Trading Fees

The trading commission is different, depending on which pairs you decide to invest in. For the CHZ pairs, the buyer and seller fees are 0 and 0.6%. On other pairs, all fees are the same and equal to 0.2%.

Transaction fees are not revealed and it remains a question how much these amounts are. As already discussed, this is not a regulated platform you could expect to show transparency when it comes to that.

Undefined Withdrawal Conditions

The payout policy is not explained in a plain and simple manner. Instead of having a separate document that outlines the deposit and withdrawal conditions, this exchange instead relies on an FAQ based help center.

Looking into it, withdrawals can allegedly be done through either ERC20 or TRC20 blockchain networks. We say allegedly, because there’s no way to prove that this actually works. If this company refuses to release your assets, get in touch with our legal team as soon as possible!

Invested With Scammers? Get Your Money Back!

Whatever trading takes place on this crypto platform, you can’t exactly call it hot. There’s no legal backing when it comes to the firm, and the trading environment is subpar when compared to other mainstream exchanges. If you look into the CoinMarketCap listing, you’ll find out just how miniscule their reported daily trading volume is.

We never advise our readers to take the risk and invest into these sorts of unregulated companies. If you’ve already done so, we stand at your disposal in your effort to recover the lost money. You may reach us via the live chat, where you can book a free first consultation.