NegocieCoins

[OmegaStarScream]

Am I the only one who never heard of this exchange before? I just came across it on CoinMarketCap and while googling, I could find some results, but mostly couldn't understand the language.

I find it weird that I never heard of the exchange before. I know it's Brazilian but still, they basically have 2$ billion trading volume.

I can see a warning on CMC regarding withdrawal and deposit problems but aside from that, could someone who has used the exchange before, confirm its legitimacy?

[1715249666]

1715249666

[1715249666]

1715249666

[1715249666]

1715249666

[traderethereum]

Never heard about those exchanges before.
Hm, I need to translate to read on their site first, and I see that they claim that they have the largest Brazilians crypto market.
I am trying to register at their site, and I see that they ask people to send documents for KYC, but I skip and not continue to process.
If they want to reach more traders from all over the world, they need to do an English translation so we can know every word on their site.
I don't know what is inside on the exchanges because every time I clicked on every link on their site, it still shows the verification process which I skip before
Maybe later I will send the document they needed but only after I can read the reviews from other people who join with them.

[TryNinja]

I’m Brazillian so I can talk a little bit about them.

Almost no one here believes that this is their real volume. They work, so you can actually deposit, trade and withdraw - and with a better price than any other BR exchange. That was until the last few days... they stopped all withdrawals and deposits without any notice and only 2 days ago they released a note saying that some people found an exploit that let them withdraw 2x the amount they had in their balance (making the exchange lose a few millions).

They said they will enable withdrawals again this Wednesday, but no one is sure if that’s going to happen.

Anyways, they are super shady. They are controlled by a group called Bitcoin Banco which also owns another exchange called TemBTC. You can send BTC and BRL back and forth between the two exchanges immediately without paying any fee. The problem is that there is always a big spread between the two exchanges prices (Negocie and TemBTC), so you can arbitrate super easily. Eg: buy 1 BTC for R$ 33500 on TemBTC, send to Negocie immediately and for free, sell for R$ 34000. Easy R$ 500 (~$125) profit.

No one knows why there is such huge spread, so a lot of people think they use both exchanges to launder money or do some other shady stuff.