Pushd is a cryptocurrency exchange platform that has been in operation for several years. While the company claims to be legitimate and registered with various regulatory bodies, there have been concerns raised by some investors about its legitimacy.
Registration and Licensing
Pushd claims to be registered with various regulatory bodies in different countries. According to the company’s website, it is licensed to operate as a cryptocurrency exchange in various countries, including the United Kingdom, United States, and Germany. However, there have been concerns raised about the authenticity of these licenses and whether they are valid.
Some critics have accused Pushd of using fake or stolen credentials to obtain its licenses. For example, some users have reported that they were able to purchase licenses from unlicensed sources and use them to create fake identities. This has led some investors to question the legitimacy of Pushd’s claims to be licensed and registered in various countries.
In addition to these concerns, there have been reports of Pushd operating without a proper legal structure in some jurisdictions. For example, some users have reported that they were unable to locate any physical office or contact information for the company in certain countries. This has raised questions about whether Pushd has a proper legal presence in these regions and whether it is subject to local regulations.
Trading Volume and User Base
Another factor that has been used to assess the legitimacy of Pushd is its trading volume and user base. Some critics have argued that if an exchange platform has low trading volumes and a small user base, it is less likely to be legitimate than a more established platform with higher trading volumes and a larger user base.
According to CoinMarketCap, the largest cryptocurrency exchange by trading volume is Binance, with over $1 trillion in daily trading volume. In comparison, Pushd has a daily trading volume of just under $3 million. This suggests that Pushd may not have the same level of liquidity as more established exchanges and may be less attractive to investors.
In addition to its low trading volume, some users have reported difficulty in finding other traders on the platform. For example, some users have reported that there are very few other users active on the platform, which can make it difficult to find trading partners or liquidity. This has led some investors to question the legitimacy of Pushd’s claims to be a legitimate exchange platform.
Security and Customer Support
Another factor that has been used to assess the legitimacy of Pushd is its security measures and customer support. Some critics have argued that if an exchange platform does not have strong security measures in place or provide good customer support, it may be more likely to be a scam than a legitimate exchange.
According to Pushd’s website, the company uses various security measures to protect user funds, including cold storage and multi-signature wallets. However, some users have reported that they were unable to access their accounts or withdraw their funds from the platform. This has led some investors to question the effectiveness of Pushd’s security measures and whether the company is truly committed to protecting user funds.
In addition to these concerns, some users have reported difficulty in contacting customer support. For example, some users have reported that they were unable to reach a representative via phone or email, or that they received no response to their inquiries. This has led some investors to question the quality of Pushd’s customer support and whether the company is truly committed to addressing user concerns.
