Welcoin Crypto Exchange Review: It's Not a Crypto Exchange - Here's What It Really Is

There’s a lot of noise online about a "Welcoin crypto exchange" promising big airdrops, perpetual contracts, and the chance to earn millions. If you’ve seen YouTube videos or Binance Square posts claiming Welcoin is a new crypto exchange, you’re being targeted by a scam. Welcoin is not a cryptocurrency exchange - it’s a loyalty rewards program run by Weltrade, a forex broker with over 18 years in business. The confusion is intentional. Scammers are stealing the name to trick unsuspecting crypto users into depositing funds into fake platforms that vanish as soon as the money arrives.

What Welcoin Actually Is

Welcoin is a virtual points system used exclusively within Weltrade’s trading platform. It’s not a coin you can buy, sell, or transfer. You don’t own it. You can’t withdraw it. You can’t trade it on any real exchange. Instead, you earn Welcoins by trading on Weltrade - specifically, for every lot you trade on their SyntX accounts, regardless of whether you make a profit or lose money. The more you trade, the more points you collect.

These points can be redeemed through Weltrade’s "Welshop" for cash vouchers ($10 to $5,000), exclusive merchandise, or surprise gift boxes. To participate, you need a verified Weltrade account. There’s no separate app. No blockchain. No wallet. Just a simple loyalty program tied to your existing forex trading activity. Weltrade’s official Help Center, updated June 1, 2024, makes this crystal clear: "Welcoin is Weltrade’s exclusive loyalty currency to reward active clients."

It’s not flashy. It’s not a crypto revolution. But it’s real - and it’s been working since 2006.

The Fake "Welcoin Exchange" Scam

Meanwhile, fraudsters have created fake websites and social media profiles pretending to be a "Welcoin Exchange." They claim you can trade Bitcoin, Ethereum, and even "Welcoin" itself. They promise staking rewards, airdrops, and guaranteed returns - sometimes up to "10 million" in Welcoins. These are classic red flags.

These scam platforms don’t exist in any official directory. They’re not listed on CoinGecko, CoinMarketCap, or Binance’s partner exchange list. They have no transparency reports, no proof-of-reserves, and no security audits. Their websites often look professional - cloned layouts, fake testimonials, even live chat bots - but they’re designed to look real, not to be real.

Victims report the same pattern: deposit ETH or BTC, see fake balances rise, try to withdraw, and then support disappears. One Reddit user, u/CryptoSafe2024, deposited 0.5 ETH ($1,550) after seeing a YouTube ad. Within three days, the site went silent. No refunds. No answers.

How to Tell the Difference

Here’s a quick checklist to avoid falling for the scam:

• Legitimate Welcoin: Only available if you have a verified Weltrade account. Earned through trading. Redeemed via Welshop. No deposits required to join.
• Fake "Welcoin Exchange": Demands you deposit crypto upfront. Promises instant rewards. Uses names like "Welcoin Exchange" or "Welcoin Trading". No official website link to weltrade.com.

Weltrade’s official domain is weltrade.com. Any other site using "Welcoin" in the name is fraudulent. Even if the logo looks identical, if the URL isn’t weltrade.com, it’s a scam.

Weltrade has issued multiple public warnings since May 2024, stating: "Beware of fraudulent websites and social media accounts impersonating Weltrade and using the term 'Welcoin Exchange'. Weltrade does not operate a cryptocurrency exchange and never asks users to deposit funds to 'activate' rewards programs."

Why This Scam Works

This isn’t just a random fraud. It’s a calculated attack. Weltrade is a well-known forex broker with a global client base of over 1.2 million traders. Its reputation gives scammers instant credibility. People see "Welcoin" and assume it’s connected to a trusted brand.

Scammers target crypto newcomers - people who hear "airdrop," "staking," and "earn millions" and don’t know how to verify legitimacy. They use YouTube ads, Telegram groups, and fake Binance Square posts to spread the message. Chainalysis estimates over 15,000-20,000 people fell for similar fake exchange scams in Q2 2024 alone. The average loss? $1,250.

And the scams are getting smarter. As of July 2024, Elliptic reported that these frauds are now using Telegram mini-apps that mimic real exchange interfaces. The UI looks authentic. The charts update. The balances change. But behind the scenes? It’s all fake data. No real trades. No real wallets. Just a digital illusion.

What Legitimate Crypto Exchanges Do Differently

Real exchanges like Binance, Coinbase, and Kraken don’t need to make wild promises. They build trust through transparency:

• Public proof-of-reserves (Coinbase holds 98% of assets offline)
• Clear fee structures (Binance charges 0.1% for spot trades)
• Regulatory compliance (licensed in multiple jurisdictions)
• Independent security audits

Weltrade, while not a crypto exchange, is regulated by the Financial Services Authority of Seychelles (license SD027). It’s been operating since 2006. It has over 1,200 verified user reviews on Trustpilot averaging 4.1/5. It publishes annual reports and has a 24/5 customer support team.

The fake "Welcoin Exchange" has none of this. No license. No history. No accountability.

What to Do If You’ve Been Scammed

If you’ve deposited funds into a fake "Welcoin Exchange," act fast:

1. Stop sending more money - no matter what "support" says.
2. Document everything: screenshots, transaction IDs, chat logs.
3. Report it to your wallet provider (e.g., MetaMask, Trust Wallet) and the platform where you saw the ad (YouTube, Telegram, Binance Square).
4. File a report with the Anti-Phishing Working Group or your local financial crimes unit.
5. Warn others on Reddit (r/CryptoScams), Telegram scam alert groups, and Twitter.

Recovery is unlikely, but reporting helps authorities track patterns and shut down operations before they hit more people.

How to Stay Safe

Here’s how to protect yourself from fake crypto exchanges:

• Never trust a platform that promises "guaranteed returns" or "massive airdrops."
• Always verify the official website. Google the company name + "official website."
• Check CoinGecko or CoinMarketCap for verified exchanges. If it’s not there, it’s not real.
• Look for regulatory licenses. If they don’t list one, assume they’re unregulated.
• Search Reddit and Telegram for user reports. If people are saying "don’t trust this," listen.
• Use only well-known exchanges with 5+ years of history and public security records.

If you’re looking for loyalty rewards in crypto, stick to platforms like eToro’s Crypto Savings or Coinbase’s Rewards program. They’re regulated, transparent, and real.

Final Verdict

There is no Welcoin crypto exchange. That’s not a rumor. That’s a fact.

Welcoin is a loyalty program. Period. If someone tells you otherwise, they’re trying to take your money. The real Weltrade has been helping traders since 2006. The fake "Welcoin Exchange" will be gone by mid-2026 - and so will your funds.

Don’t confuse a loyalty point system with a crypto exchange. Don’t let a name sound familiar. Don’t trust a YouTube ad. Verify everything. Your money depends on it.