There’s a lot of noise online about something called Welcoin - some say it’s a new crypto exchange with big airdrops, others warn it’s a scam. If you’ve seen YouTube videos promising you can "earn 10 million Welcoins" or Binance Square posts pushing a "brand-new exchange," you’re not alone. But here’s the truth: Welcoin is not a cryptocurrency exchange. It’s a loyalty rewards program from Weltrade, a forex broker that’s been around since 2006.
What Welcoin Actually Is (Not What You Think)
Welcoin isn’t a coin you can buy, trade, or withdraw. It’s a points system - like airline miles, but for traders. If you trade on Weltrade’s platform, you earn Welcoins based on your trading volume. For every lot you trade on synthetic indices (like SyntX accounts), you get points. It doesn’t matter if you make a profit or lose money. The more you trade, the more points you accumulate. These points can be redeemed through Weltrade’s "Welshop" for cash vouchers ($10 to $5,000), exclusive merchandise, or surprise gift boxes. You can’t send Welcoins to another wallet. You can’t trade them on any exchange. They don’t have a blockchain. They’re not crypto. They’re just internal rewards. Weltrade’s official Help Center (updated June 2024) says it clearly: "Welcoin is Weltrade’s exclusive loyalty currency to reward active clients." No ambiguity. No hidden fine print. It’s a loyalty program, period.The Fake "Welcoin Exchange" Scam
Here’s where things get dangerous. Scammers have taken the name "Welcoin" and created fake websites that look like real crypto exchanges. These sites claim you can trade Bitcoin, Ethereum, and even "Welcoin" itself. They promise staking rewards, perpetual contracts, and massive airdrops. Some even have fake trading interfaces that mimic Binance or Kraken. They lure people in with YouTube ads and Telegram groups. The pitch? "Deposit 0.5 ETH and earn 10 million Welcoins!" Sounds too good to be true? It is. Real users have lost money. One Reddit user, u/CryptoSafe2024, deposited 0.5 ETH ($1,550) into one of these fake exchanges after seeing a YouTube ad. He couldn’t withdraw after a few days. Support vanished. No response. No refund. These fake platforms have no registration, no security audits, no proof of reserves. They don’t publish team details. They don’t have licenses. They’re not regulated. They’re designed to disappear within 3-6 months after collecting deposits - a pattern confirmed by cryptocurrency expert Dr. David Gerard in a June 2024 CoinDesk interview.How to Tell the Difference
If you’re trying to figure out if you’re dealing with the real Welcoin or a scam, here’s how:- Legitimate Welcoin: Only available if you have a verified Weltrade forex account. You earn it through trading. You redeem it in Welshop. No deposits required to access it.
- Fake "Welcoin Exchange": Asks you to deposit crypto upfront. Promises instant rewards. Has no official website link to weltrade.com. Uses social media ads to drive traffic.
Security, Regulation, and Reputation
Weltrade is regulated by the Financial Services Authority of Seychelles (license SD027). It’s been operating for over 18 years. It’s ranked #328 globally among forex brokers by ForexBrokers.com with a 4.2/5 rating based on over 1,200 reviews. Its customer support is available 24/5 via live chat, email, and phone. The fake "Welcoin Exchange"? Zero regulatory oversight. No known company registration. No physical address. No customer service that responds after you send money. Legitimate crypto exchanges like Binance, Coinbase, and Kraken publish transparency reports, use cold storage for 95%+ of assets, and have clear fee structures. The fake Welcoin sites? No documentation. No security details. No way to verify anything.What Real Users Say
People using the real Welcoin program report positive experiences. Victoria Holodniak, a verified Weltrade client, said in a June 2024 testimonial: "I’ve earned $320 in cash vouchers through Welcoins over six months of regular trading. The redemption process is straightforward through Welshop." On Trustpilot, Weltrade has 247 reviews averaging 4.1/5 stars. No platform called "Welcoin Exchange" appears in any major review database. Meanwhile, on r/CryptoScams and Telegram groups like CryptoScamAlert (42,000+ members), nearly every post about "Welcoin Exchange" is a warning. Users describe being locked out after deposits, fake withdrawal screens, and disappearing support teams.
Why This Scam Works
This isn’t just random fraud. It’s targeted. Scammers know Weltrade has a solid reputation. They know traders trust familiar names. By slapping "Welcoin" on a fake exchange, they piggyback on that trust. The Anti-Phishing Working Group reported a 37% spike in fake exchange scams in Q1 2024. Of those, 83% used names similar to established financial brands. Crypto security firm CipherBlade found these scams made up 28% of all crypto fraud in the first half of 2024 - with average losses of $1,250 per victim. The fake platforms are evolving too. Blockchain firm Elliptic reported in July 2024 that many now use Telegram mini-apps - fake interfaces that look exactly like real exchanges, making it even harder to tell the difference.What You Should Do
If you’re a Weltrade client and want to use Welcoin:- Log in to your verified Weltrade account.
- Click "Explore" in your dashboard to activate the program.
- Trade as usual - you’ll earn points automatically.
- Redeem rewards through Welshop - no deposits needed.
- Don’t deposit anything.
- Don’t click links from YouTube or Telegram.
- Don’t trust "limited-time airdrops."
- Report the site to the Anti-Phishing Working Group or your local financial regulator.
Final Warning
There is no such thing as a legitimate cryptocurrency exchange called Welcoin. Any platform claiming otherwise is a scam. The real Welcoin is a loyalty program - not a coin, not a token, not a trading pair. It’s tied to Weltrade, a forex broker with 18 years of history. The fake version is a digital trap. If you’ve already deposited funds to a site calling itself "Welcoin Exchange," you’re likely out of luck. Recovery is nearly impossible. Your best move now is to warn others and report the site. Stay sharp. If it sounds too good to be true - especially when it’s tied to a name you recognize - it probably is.Is Welcoin a real cryptocurrency?
No, Welcoin is not a cryptocurrency. It’s a loyalty points system used by Weltrade, a forex broker, to reward traders for trading volume. It cannot be traded, withdrawn, or transferred outside Weltrade’s platform. It has no blockchain, no market value, and is not listed on any crypto exchange.
Can I trade Welcoin on Binance or Coinbase?
No, you cannot trade Welcoin on Binance, Coinbase, or any other legitimate crypto exchange. Welcoin does not exist as a tradable asset. Any platform claiming to list Welcoin is a scam. Binance and Coinbase do not support or partner with any entity called Welcoin.
How do I earn Welcoins legitimately?
You earn Welcoins by trading on Weltrade’s platform. For each lot you trade on synthetic indices (like SyntX accounts), you receive points. The exact rate varies by account type and trading conditions. You must have a verified Weltrade account and activate the program by clicking "Explore" in your dashboard. No deposits are required to earn them.
What should I do if I deposited money to a "Welcoin Exchange"?
Stop all communication immediately. Do not send more funds. Report the platform to your local financial regulator and to the Anti-Phishing Working Group. Contact your cryptocurrency wallet provider to see if they can trace the transaction - though recovery is unlikely. Warn others on social media and crypto forums to prevent more victims.
Is Weltrade a scam?
No, Weltrade is not a scam. It’s a legitimate forex broker founded in 2006, regulated by the Financial Services Authority of Seychelles, and ranked among the top 400 global brokers. Its Welcoin loyalty program is real and transparent. The scams are run by third parties using Weltrade’s name to trick people.
Are there other similar scams I should watch out for?
Yes. Scammers often use names similar to well-known brands - like "eToroCoin," "Plus500 Token," or "XM Crypto." They promise airdrops, staking, or free coins to lure deposits. Always verify the official website. If a platform asks for crypto to "activate" rewards, it’s a scam. Legitimate loyalty programs never require upfront deposits.
Emily Unter King
4 11 25 / 18:16 PMLet’s be crystal clear: Welcoin is a loyalty points system, not a cryptocurrency. Any platform asking you to deposit ETH or BTC to "unlock" Welcoins is a phishing operation. The mechanics are identical to the old "Bitcoin Mining Club" scams from 2017-same script, new branding. Weltrade’s regulatory status under the FSA Seychelles and their transparent reward structure confirms legitimacy. The moment a platform requires upfront capital to access rewards, it’s a scam. Period.
There is zero blockchain infrastructure behind Welcoin. No smart contracts. No wallet addresses. No on-chain ledger. If someone tries to sell you a "Welcoin token," they’re selling vapor.
Verify every link through weltrade.com’s official domain. Bookmark it. Never click ads on YouTube or Telegram. These scams exploit cognitive ease-people trust familiar names. Don’t let that trust become your vulnerability.
karan thakur
5 11 25 / 23:23 PMThis is just another Western financial elite scheme disguised as consumer protection. Weltrade is a forex broker with ties to offshore jurisdictions-why should we trust their "official statement"? The real question is: who benefits from discrediting alternative reward systems? The crypto space is being policed by centralized entities that fear decentralization. Welcoin might not be blockchain-based, but that doesn’t mean it’s fraudulent-it means it’s being suppressed.
Why does the Anti-Phishing Working Group have so much influence? Who funds them? The same banks that want to control all digital value flows? I’ve seen this pattern before: legitimate community programs get labeled "scams" so that only institutional platforms survive.
Don’t be fooled by regulation labels. Seychelles is a tax haven. That’s not legitimacy-it’s legal camouflage.
Evan Koehne
6 11 25 / 21:54 PMSo let me get this straight. You spent $1,550 on a fake exchange… and now you’re shocked? Bro. You clicked a YouTube ad that said "Earn 10 million coins!" and you thought that was a financial advisory? That’s not a scam-that’s a Darwin Award nomination.
Meanwhile, the real Welcoin is just… points. Like airline miles. But now we’ve got a 2,000-word essay on why you shouldn’t trust a loyalty program that doesn’t have a blockchain. The real scam here is the amount of time people spend writing about this.
Next up: "Beware! The Starbucks Stars program is a Ponzi scheme disguised as coffee rewards!"
Vipul dhingra
7 11 25 / 18:38 PMwelcoin is real its just not crypto you guys are overreacting everyone thinks everything has to be blockchain its 2024 not 2018 why do you need to trade it on binance its a reward system like points from walmart or something why are you so mad its not crypto its not supposed to be
Robert Bailey
7 11 25 / 20:51 PMJust wanted to say thanks for laying this out so clearly. I almost fell for one of those fake Welcoin ads last week-thankfully I double-checked before sending anything. The YouTube ad looked *so* legit, with fake trading charts and "verified user" testimonials.
Now I’m telling all my trading buddies. If it sounds too good to be true, and it’s got "airdrop" in the title, walk away. Seriously. Your wallet will thank you.
Eric von Stackelberg
7 11 25 / 23:51 PMLet’s not pretend this is merely about consumer protection. This is systemic deception engineered by algorithmic content farms targeting financial illiteracy. The fact that these scams exploit the reputation of a regulated entity like Weltrade reveals a deeper rot: trust is now a commodity to be harvested, not earned.
These operations are not random. They are coordinated. Their landing pages use the same UI templates, the same stock photography, the same psychological triggers-urgency, exclusivity, FOMO. They are A/B tested like SaaS products.
And who profits? Not individual scammers. Corporate entities behind dark web marketplaces, laundering through crypto mixers, using shell companies registered in jurisdictions with no extradition treaties. The FSA Seychelles doesn’t regulate them. No one does.
What’s being sold isn’t Welcoin. It’s the illusion of participation in a decentralized economy. And we’re all complicit when we don’t demand transparency from the platforms that host these ads.
YouTube, Telegram, Meta-they monetize the scam. They are the silent partners. Until we hold them accountable, this will only get worse.