Coinsbit is Legit exchange? or SCAM?

[Blue_oxen]

hello guys,
Coinsbit.io is legit exchange? or its scam?

for example, have budget for airdrop - and marketing - 150 000 000 usd?

Overvaluation in the crypto market is normal, there are businesses when the IPO also overprices their stocks. This is not so different, they just want to promote something and this is a marketing trick. In addition, it does not imply any other meaning. The fraudulent signs are that they offer lending programs with high interest rates and are alleged by some customers who have problems with transactions. IDAX is an example and you should review all the bad news about it for more experience.

[cribusen]

This volume is completely fake  Never ever, such exchange as Coinsbit would have such a huge volume, they are doing the same wash trading garbage as p2pb2b exchange and all other analogs that were created by the same scheme.

[samuraijin]

I don't want to say they are scams, let people have value, their site is similar to p2pb2b I think they have one founder, nothing different from the appearance of their site, as some people say here is true that they deceive many people with fake trading volume use bots like p2pb2b, so what is their purpose to do that is just to catch lots of users, even to attract their users to hold airdrops for new users by giving some CNB tokens to those who qualify, I'm not sure about their airdrop that their tokens are worth later, so my advice is avoid to trade there or save your money on that site

Of course storing your crypto with this non popular exchange is a huge potential that you funds will going to be scammed or even hacked internally. Maybe the participation of the airdrop would be a good attempt just to have a test on how legit are they. I am not saying they're not going to be trusted, at least you're careful with your asset before it's too late.

yes do not for the sake of hundreds of dollars worth of airdrops all people are tempted to put funds there, until now they have not changed their behavior and what is not good in it, their bad reputation should be fixed but not at all even though they actually know their stock exchange reputation is bad in this forum, why not fix, this is what to watch out for when people put money there they will disappear or cheat with your funds

[tabas]

I don't have any experience using them but I'll remind you that coinmarketcap has been known for making their records modify and pumping the volumes of the exchange they want to even it's not real.

I don't the coinmarketcap are the one to be blame for exchange fake volume listing because the last time i checked the volume showed on each exchange site is what capital market bot updated but if we are talking about coins fake listing then there's a chance that capital market may be part of the volume modifying.

I guess you missed those times where they've been exposed to be faking out the volume of their chosen exchange. I don't know the drill on how they do that but they've known for that.
Apparently, they might have changed and they don't do it anymore, we don't know.

[wajik-tempe]

Many negative feedback from users there , but i never heard the exchange is carry away their customers money.
But one thing that i know they held airdrops for 500$ worth value of their coin and ask the participant for doing KYC. But i think the real value will not reach 500$ instead of jusst under 50$, mark my words it will happen next year.

[NathanJB]

Many negative feedback from users there , but i never heard the exchange is carry away their customers money.
But one thing that i know they held airdrops for 500$ worth value of their coin and ask the participant for doing KYC. But i think the real value will not reach 500$ instead of jusst under 50$, mark my words it will happen next year.

You have not heard that the exchange is running away the customer's money because they almost have zero customer. That is the only reason for having a clean record. They can hardly receive a truthful review because there is almost no one who can give them that. That volume is clearly a manipulated or fake one. This exchange is populated by bots. Too high volume of an unheard exchange. Wash trading must be very rampant in this site.

[drlukacs]

hello guys,
Coinsbit.io is legit exchange? or its scam?

for example, have budget for airdrop - and marketing - 150 000 000 usd?

This airdrop program is never good. they offer too virtual prices and this will never happen to businesses that lie. they just want to take our KYC and then sell it to businesses that need it and they have huge profits. This is something commonly found in phishing businesses now and never do KYC and send it to them. Besides, Coinsbit will soon be a scam exchange when they introduce unrealistic policies and only want to profit from greedy people. This is not the action of a potential and reputable business.

[Ararbermas]

For me its suspicious because the design is quite the same with some fake exchange . Visit p2pb2b.io you will notice it.  Actually its been months  my coin is listed but unfortunately i cant deposit in it unlike others options . I already made a research but nothing ,, there's no specific information about that exchange even feedbacks.

[leea-1334]

Many negative feedback from users there , but i never heard the exchange is carry away their customers money.
But one thing that i know they held airdrops for 500$ worth value of their coin and ask the participant for doing KYC. But i think the real value will not reach 500$ instead of jusst under 50$, mark my words it will happen next year.

Just cause you do not hear it does not mean it is not doing it. But you are right,,, presume innocent always until proven guilty.

On the other hand, when you have to give an exchange your money, you should at least go for someone who has a lot to lost by stealing. Binance for example makes so much money they would bend over a lot before they eventually gave up and could not pay people their funds. Coinsbit has to prove itself and gain the same reputation before you can consider them in the same way.

[adroitful_one]

Many negative feedback from users there , but i never heard the exchange is carry away their customers money.
But one thing that i know they held airdrops for 500$ worth value of their coin and ask the participant for doing KYC. But i think the real value will not reach 500$ instead of jusst under 50$, mark my words it will happen next year.

You have not heard that the exchange is running away the customer's money because they almost have zero customer. That is the only reason for having a clean record. They can hardly receive a truthful review because there is almost no one who can give them that. That volume is clearly a manipulated or fake one. This exchange is populated by bots. Too high volume of an unheard exchange. Wash trading must be very rampant in this site.

They have over a million users and all exchanges are populated with bots. If there's an api, then there's going to be bots. I deposited a small amount of BTC, traded it for DOGE and was able to withdraw the DOGE. So, I would say that as of right now the exchange is legit. However, this could change at any moment. You never really know about these kinds of places. That's why it is recommended that you don't keep your funds on an exchange.

[Taskford]

Many negative feedback from users there , but i never heard the exchange is carry away their customers money.
But one thing that i know they held airdrops for 500$ worth value of their coin and ask the participant for doing KYC. But i think the real value will not reach 500$ instead of jusst under 50$, mark my words it will happen next year.

Just cause you do not hear it does not mean it is not doing it. But you are right,,, presume innocent always until proven guilty.

On the other hand, when you have to give an exchange your money, you should at least go for someone who has a lot to lost by stealing. Binance for example makes so much money they would bend over a lot before they eventually gave up and could not pay people their funds. Coinsbit has to prove itself and gain the same reputation before you can consider them in the same way.

Agree, also for now they got bad reputation and that stop me to trade on them that's why I always prefer binance for safe keeping of my trading balance and I can assure that they are strong but in coinsbit maybe I will think about it since for now it's a big no and people shouldn't do any test trades using big amount since possibly they will get compromise in single instance.

[whyrqa]

Many negative feedback from users there , but i never heard the exchange is carry away their customers money.
But one thing that i know they held airdrops for 500$ worth value of their coin and ask the participant for doing KYC. But i think the real value will not reach 500$ instead of jusst under 50$, mark my words it will happen next year.

Just cause you do not hear it does not mean it is not doing it. But you are right,,, presume innocent always until proven guilty.

On the other hand, when you have to give an exchange your money, you should at least go for someone who has a lot to lost by stealing. Binance for example makes so much money they would bend over a lot before they eventually gave up and could not pay people their funds. Coinsbit has to prove itself and gain the same reputation before you can consider them in the same way.

Agree, also for now they got bad reputation and that stop me to trade on them that's why I always prefer binance for safe keeping of my trading balance and I can assure that they are strong but in coinsbit maybe I will think about it since for now it's a big no and people shouldn't do any test trades using big amount since possibly they will get compromise in single instance.

Negative reviews of the relative majority of cryptocurrency exchanges are very common, but I do not want to take risks and always use only the most rated exchanges.  Nevertheless, despite the fact that many exchanges have a negative rating, many traders continue to use them.

[suzanne5223]

I don't have any experience using them but I'll remind you that coinmarketcap has been known for making their records modify and pumping the volumes of the exchange they want to even it's not real.

I don't know if the coinmarketcap are the one to be blblamedor exchange fake volume listing because the last time i checked the volume showed on each exchange site is what capital market bot updated but if we are talking about coins fake listing then there's a chance that capital market may be part of the volume modifying.

I guess you missed those times where they've been exposed to be faking out the volume of their chosen exchange. I don't know the drill on how they do that but they've known for that.
Apparently, they might have changed and they don't do it anymore, we don't know.

No, I don't miss the scenario and if I could remember correctly it happened in the year 2016. But, what I'm trying to point out now is that they are aware that the crypto community monitor such roles and they seem not to associate with any exchange site these days as fake listing is concern. However, if you the update volume on the capital market now is usually intact with the volume you'll see on each exchange site is you go through their official site.

[tabas]

I guess you missed those times where they've been exposed to be faking out the volume of their chosen exchange. I don't know the drill on how they do that but they've known for that.
Apparently, they might have changed and they don't do it anymore, we don't know.

No, I don't miss the scenario and if I could remember correctly it happened in the year 2016. But, what I'm trying to point out now is that they are aware that the crypto community monitor such roles and they seem not to associate with any exchange site these days as fake listing is concern. However, if you the update volume on the capital market now is usually intact with the volume you'll see on each exchange site is you go through their official site.

Well, yes.
You're right that they probably have changed due to the monitoring of the community and they don't want to turn down their visitors. They've known for it once but I guess they've really changed for good.

[Cherylstar86]

Coinsbit is not a scam exchange but it is not a recommending exchange too. There are many good exchanges in the crypto industry to trade coins, coinsbit is not one of them. Their airdrop campaign looks suspicious too! Hundreds of dollars for verifying KYC? Seriously? Be aware of it mate.

As you said it looks like suspicious it is somehow like a scam. Being part of the crypto enthusiast, we notice some some suspicious exchange as well as it's been also a part of the coinmarket cap. Coin market cap informations is not guarantee a legit due for the system that can't be all monitor by the authorized personnel.

[Casdinyard]

The digits are overwhelming and completely too good to be true. Though it's not impossible for a $200 per referral but for this kind of shitty exchange that even couldn't pay a professional web designer, it's totally BS.

Highly suggest better to stay away from amateur sites even the offer is lucrative as what you can imagine.

[NurArtur790]

The digits are overwhelming and completely too good to be true. Though it's not impossible for a $200 per referral but for this kind of shitty exchange that even couldn't pay a professional web designer, it's totally BS.

Highly suggest better to stay away from amateur sites even the offer is lucrative as what you can imagine.

200 dollars is a very approximate price. Since the CNB coin is not yet traded. To understand how much you actually paid for referrals, you need to wait for the bidding to begin. In the meantime, it's just 2,000 CNB coins.

[magisterr]

Coinsbit is a scam exchange! Be carefull!

They had 2 airdrops as I know. First airdrop was 500 usd tokens worth and 2nd 200 usd worth. I registered at the 1st and got 5000 tokens. but they were not tradable at that moment. They said that tokens will be available for trading after 1st January... But now... I dont have any tokens at the account.. they just deleted them.

This is a scam excahnge definitely

[VDraci]

I've heard series of bad news about this exchange called coinsbit but i never for once got into any issue while using the exchange so far, i even participated in their airdrop with KYC implemented and i did get paid

[Chrystora123]

Though I didn't face any problem and I am not regular user of coinsbit exchange.But there are lot of bad reputation of coinsbit.You can take a look in this thread.
JollyGood made a topics about coinsbit and P2PB2B exchanger.
Thread link: https://bitcointalk.org/index.php?topic=5192497.0

I have never tried to trade on Coinsbit so I can't be sure it's legit or scam but the thread created by Jollygood can be used as a reference, but I think it would be better if you did your own research.