Backpack Exchange review: score, licensing and risks
75/100SCORE · BTrusted
Grade B, very good
Licensed in Dubai and built by the Backpack wallet team, with an unusually clean product for a young venue.
The facts
- FOUNDED
- 2023
- HEADQUARTERS
- United Arab Emirates
- CUSTODY
- Custodial.
- MiCA / EEA
- Not authorised across the EEA.
- US ACCESS
- No.
- PROOF OF RESERVES
- No standard proof of reserves publication.
- FEES
- Typical for a venue of its size. Confirm current pricing on its own site.
- ASSETS
- Varies
How the score breaks down
Each dimension is explained on the methodology page.
Where it is strong and where it is not
✓ Strengths
- Established venue in United Arab Emirates
- Local currency deposit and withdrawal rails
✗ Weaknesses
- United Arab Emirates focused, so limited use elsewhere
- Less independent scrutiny than the global majors
- Smaller asset list and thinner liquidity
Incident history
No major security breach or regulatory action on record.
Our read
Licensed in Dubai and built by the Backpack wallet team, with an unusually clean product for a young venue.
COMPARE
RISK WARNING
Crypto assets are highly volatile and largely unregulated. You can lose everything you put in.
Nothing on this page is financial, investment or tax advice, and nothing here is a recommendation
to buy or sell any asset. Do your own research and never commit money you cannot afford to lose.