Coinsecure shady tactics for profit. Borderline scam.

[coinbit44]

Coinsecures website doesn't let you enter a Bitcoin amount with more than 3 digits after the decimal point. So if you made a purchase of 0.055 Bitcoins you will get 0.05478000 Bitcoins because they charge 0.4% fee, which is totally fine. They even show how much you get in their wallet.

Now here's the problem if after some time you want to sell off those Bitcoins and you try to enter 0.05478 guess what? YOU CAN'T.
All you can do is enter 0.054 and CONGRATULATIONS you just lost 0.00078 Bitcoins.

[1714839560]

1714839560

[1714839560]

1714839560

[1714839560]

1714839560

[1714839560]

1714839560

[TucoRamirez]

Coinsecures website doesn't let you enter a Bitcoin amount with more than 3 digits after the decimal point. So if you made a purchase of 0.055 Bitcoins you will get 0.05478000 Bitcoins because they charge 0.4% fee, which is totally fine. They even show how much you get in their wallet.

Now here's the problem if after some time you want to sell off those Bitcoins and you try to enter 0.05478 guess what? YOU CAN'T.
All you can do is enter 0.054 and CONGRATULATIONS you just lost 0.00078 Bitcoins.

Probably the fractional BTC won't be lost but will remain in your CoinSecure account.   

Btw, the moderator on this India forum is Mr. Benson Samuel (Founder of CoinSecure).

[newwest]

I do understand what you are saying and probably it may remain in the wallet itself as you cannot even sell those fractional btc so only option what i can figure it out is that when you buy so buy those additional btc which can cover the fees as well. Since we have 8 decimals in btc so ideally upto 5 if not more should be allowed. Hope so CS team would be able to answer better as why they only upto 3 digits after decimal point.

[agnosticpilgrim]

Coinsecures website doesn't let you enter a Bitcoin amount with more than 3 digits after the decimal point. So if you made a purchase of 0.055 Bitcoins you will get 0.05478000 Bitcoins because they charge 0.4% fee, which is totally fine. They even show how much you get in their wallet.

Now here's the problem if after some time you want to sell off those Bitcoins and you try to enter 0.05478 guess what? YOU CAN'T.
All you can do is enter 0.054 and CONGRATULATIONS you just lost 0.00078 Bitcoins.

Well that is just wrong. Even if the 'residue' satoshi are in the wallet, you can't do anything about it. That's just forced unused amount. And it's not a small amount either. In this example if the person has 0.00078 bitcoins left in his wallet, that amounts to Rs. 580. You can't just force him to not use his Rs. 580 and keep it in the wallet because your website only allows 3 decimals instead of the full 8.

[coinbit44]

Coinsecures website doesn't let you enter a Bitcoin amount with more than 3 digits after the decimal point. So if you made a purchase of 0.055 Bitcoins you will get 0.05478000 Bitcoins because they charge 0.4% fee, which is totally fine. They even show how much you get in their wallet.

Now here's the problem if after some time you want to sell off those Bitcoins and you try to enter 0.05478 guess what? YOU CAN'T.
All you can do is enter 0.054 and CONGRATULATIONS you just lost 0.00078 Bitcoins.

Well that is just wrong. Even if the 'residue' satoshi are in the wallet, you can't do anything about it. That's just forced unused amount. And it's not a small amount either. In this example if the person has 0.00078 bitcoins left in his wallet, that amounts to Rs. 580. You can't just force him to not use his Rs. 580 and keep it in the wallet because your website only allows 3 decimals instead of the full 8.

Also, there is a fee when you sell the bitcoins, which again is totally justified. But now what happens is you buy --> 0.055 and you get --> 0.05478 of which you can only sell --> 0.054 and after deducting the 0.4% fee you get --> 0.053784.

In short, forget about making a profit but to just break even and not lose money the bitcoin sell price has to rise significantly compared to the price at which you bought the bitcoins.

[Blackshadow007]

there is no shady tactic involved . I am sure its some technical difficulties Benson told before when i asked the same to me , So you better message Benson Samuel about your inquiry and this thread so we can see proper explanation about it .

[coinbit44]

there is no shady tactic involved . I am sure its some technical difficulties Benson told before when i asked the same to me , So you better message Benson Samuel about your inquiry and this thread so we can see proper explanation about it .

lol are you their PR? because you defend coinsecure in every thread that is even slightly critical of them? And yes it's absolutely shady. A person who makes a purchase of the minimum set amount of 0.01 bitcoins wont even be able to sell those coins even right after purchase because you need a minimum of 0.01 bitcoins to sell. And since they took 0.4% out now you have less than 0.01. So now you have to purchase more bitcoins just so you would be able to sell those bitcoins.
Which means again a minimum purchase of 0.01 bitcoins, all the while coinsecure is eating up those sweet fee money.
The cryptocurrency world attracts a lot of new people and deceiving them like this is not good for the future of crypto.