Website URL: https://www.originalcrypto.com/
Regulation: Not regulated
Languages: English, French, Polish
Deposit Methods: Bitcoin
Minimum Deposit: From 0.5 BTC
Free Demo Account: No
Types of Assets: Cryptocurrencies, Forex pairs, Stocks, Indices, and Commodities
At first, it can be difficult to determine just what Original Crypto is. You can be forgiven for thinking it is a crypto brokerage or a crypto exchange. Only after doing some research, we were able to see this company for what it really is. Original Crypto is basically a CFD broker with both crypto and traditional financial instruments, with a slight twist. Namely, your account is completely held in Bitcoin. This novel approach may seem appealing to some; however, you should stick to your money for now and read the entirety of our Original Crypto review before opening an account.
The first red flag is the absence of any regulations. The company is based in Bulgaria, and like many offshore brokerages, it goes under the radar of financial watchdogs. While this fact alone isn’t enough to label anyone as a scam, when you add additional irregularities, you will begin to question the entire operation.
There is a lot of unclear and inconsistent info regarding Original Crypto. We were able to realise the true nature of their operation only after opening an account. Your deposits cannot be handled directly through the blockchain. On top of that, their website content is completely out of date and out of touch with what they really do, which would suggest they just copied the content of another site and didn’t bother to adjust it.
This lack of attention to detail doesn’t bode well for anyone, the least for those who are supposed to handle your money. Before even making the first deposit we had a very good idea of who we were dealing with, but we proceeded as we wanted to see just how deep the rabbit hole really was.
Original Crypto offers a web-based platform lacking any of the features of the industry-standard MetaTrader platforms. At heart, it is a binary options platform that offers interesting asset pairing. You can trade Crypto vs Crypto, Crypto vs Stock or even Crypto vs Commodities. All of these pairs are arranged this way because your trading account remains in Bitcoin at all times. In essence, you will be trading CFDs.
Original Crypto offers high leverage starting from 1:200. Considering the volatility of some assets on offer, these conditions will be attractive only to aggressive traders, who thrive in high-risk high-reward scenarios.
Traders can choose from a good variety of account types based on their ambitions and budget. There are 6 different tiers starting from Micro, all the way up to VIP. Initial deposit even for the starting account type seems steep when compared to the competition. To start trading with Original Crypto, you will need at least 0.5 BTC
Basic account type can be accessed with a minimum deposit of 0.5 BTC and includes 1:200 leverage, monthly market reviews and up to 10% margin loans
For a minimum of 2 BTC, you get better margin loan of up to 25% and a weekly live stream trading webinar
Silver accounts offer a personal account manager, improved margin loans of 35% and require a minimum deposit of 10 BTC
If you want weekly 1on1 trading sessions, and a personal broker then you should choose the gold account with a deposit of 20 BTC
Biggest features of Diamond account is the improved leverage of 1:300, and invitations to VIP events, although these sound pretty vague. Minimal deposit for diamond account is 45 BTC
This is the highest available tier. With a VIP account, you can get tight spreads, higher pay-outs and attractive leverage of 1:400.
You better pray you don’t encounter any issue because if you do, you won’t be able to get any help from Original Crypto. You can only reach them on the telephone or via emails. The telephone lines seem to be busy for most of the day, and writing emails proved to be equally inefficient. Also, you will have to wait a full week before you hear anything back from them, and even then, their responses are pretty generic, offering little assistance.
Deposits and Withdrawals
There are two ways of depositing to Original Crypto.
- EUR/USD via WebMoney (immediately converted to BTC)
Withdrawals are where most traders will encounter some issues. Since the original Crypto is not transparent at all, so most will find out about withdrawal restrictions a little too late. Also, before being able to withdraw any funds, traders need to generate 30 times the amount of their initial deposit.
It is very disappointing to see just how little Original Crypto invested in trader education. The only educational resource they have on their website is the “What is Bitcoin” section that offers only the most basic information laid out in FAQ format. For any additional tools, traders are forced to look elsewhere.
If you were unsure if you should invest your money with this brokerage, after reading our Original Crypto review you now have all the information you need. Therefore, we would recommend staying clear of this brokerage, as it is obviously a scam.