Review on Lucent by Samantha Beatrice
My First Philippine exchange happened to be very complicated, Don't trade here
Claims to be audited and regulated by Cagayan Economic Zone Authority, Lucent Exchange is a Philippines exchange known for spot and derivatives trading. It was founded in 2019 to create a convenient condition for the trading of different cryptocurrencies and digital tokens. The developers and founders of this exchange are not known because the exchange doesn't talk about them in the "About Us" section. In addition to that, the exchange also doesn't have a verified trading volume even most of the trading pairs have a volume of $0. The exchange is no longer active, looking at the perspective of its social media account and the website at large. The Telegram account no longer has any admin presence, the admin never replies to any complaint or report even the Twitter account had been inactive since August 2020. Being the first Philippines exchange I'll come across, Lucent Exchange has already given me a bad impression about Philippine exchanges. It is totally unsafe to trade here, though the exchange claims to be regulated by Cagayan Economic Zone Authority, it still can't be trusted!
Pros
- This exchange doesn't seem to have any positive sides
- This exchange supports USD fiat currency
Cons
- This exchange has alot of $0 trading volume among its various trading pairs
- Not a fully developed exchange
- The exchange has an outdated copyright
