KICKICO-KickEx:Legit business or scam in making?

[hosseinimr93]

To further hype this referral system and bring new investors, they gave few  example how much can people earn from it. Sure, they say that  earnings will  depend on the activity of your referrals, but this really reminds me of ponzi schemes, where they use similar language and graphics to attract new users.

It's a pyramid scheme. They are forcing users to trade in their exchange to get their referral reward and that's how they earn money.

Only users that have completed KYC verification and have paid at least $5 trading commissions on KickEX can enjoy the rewards.

Therefore, users will have to make trades even if they don't need.
For example I will have to deposit BTC, convert it to ETH then convert ETH to BTC and withdraw BTC to become eligible for the reward.
In this case, I will waste 5$ + withdrawal fee. In addition to that I will increase their volume.
This is how they try to earn money. Getting others money and giving a part of it to those that are on top of the pyramid.

[JaniBaram]

I have received the frozen airdrop. How can I sell these coins now? Do I need to sign up on their beta exchange platform and do what?
There's no specified instructions...

[khaled0111]

I have received the frozen airdrop. How can I sell these coins now? Do I need to sign up on their beta exchange platform and do what?
There's no specified instructions...

It's so confusing but if I understood it well, you will have to wait for the official release of their exchange KickEx which will happen on Q2 of this year according to their road map.
Then, you will have to create an account and verify your identity (KYC). I doubt it will have any value by then.

[Rikafip]

I have received the frozen airdrop. How can I sell these coins now? Do I need to sign up on their beta exchange platform and do what?
There's no specified instructions...

You can't do anything with them at the moment, only wait. And yeah, in order to unlock them you will have to trade on their exchange, and that means going through KYC and sending your own ETH/BTC on that  exchange.

I suggest you that you forget about KICK tokens, as by the time they are released, those 888,888 KICK you got will be worthless. Not worth it to give them your info for bunch of worthless shitcoins, as that's what KICK tokens are, don't fall for their marketing campaign.

One good thing about all this is the fact that their campaign is not working as good as they expected, KICK token price went down 90% in a couple of weeks. With tendency to go down even more. As I said, nothing but a pump&dump shitcoin.

Therefore, users will have to make trades even if they don't need.
For example I will have to deposit BTC, convert it to ETH then convert ETH to BTC and withdraw BTC to become eligible for the reward.

That's the worst part, people will deposit their hard earn money on that untrustworthy exchange in order to get those airdropped tokens.
KICK smart contract was exploited back in 2018, when 40 people lost 70 million KICK worth at the time 7.7 million USD. People affected got their tokens back after few months, but by that time price plummeted by 70%, creating huge losses. Here is an article about the whole incident
https://www.ccn.com/another-ico-hacked-kickico-loses-8-million-after-smart-contract-breach/

[huyicp]

I have never participated in an airdrop or bounty with such a large amount of tokens. I think it's a scam, because I also got 888k tokens but it's unusable. Candlestick charts on exchanges are also not connected to Tradingview.

[examplens]

It's a pyramid scheme. They are forcing users to trade in their exchange to get their referral reward and that's how they earn money.

Nope, this is not pyramidal schemes. Just a way of promoting his exchange. They will give you some rewards in exchange for using their platform and if they actually pay the promised reward there is nothing shady. the other thing is that it is a very small amount and the high fee will probably eat all of the earnings.
it certainly doesn't pay to do the whole procedure because of the potential $5 profit.

Here is a statement about claiming 888,888 Kickico airdrop https://support.kickex.com/hc/en-us/articles/360012199739-Unlock-conditions-and-FrozenDrop-details

Brief instructions to unlock the frozen tokens:
1) You get FrozenDrop (888,888 frozen KickTokens) to your ETH wallet.
2) Register in the KickEX exchange and trade there. With trade volume, you accumulate a commission. For example, with a commission of $1, you can unfreeze KickTokens for $0,5.
3) Tokens are unlocked now. You can sell these unfrozen tokens, cover future commissions partly or up to 100% for trading on the exchange, or spend in the Kick Ecosystem.

you can basically use those tokens to cover the fee when trade on his platform. that's all. He just trying to attract traders to use their exchange.

all this does not seem at all interesting or tempting to me at all but I can't see any fraud there for now. Of course, we need to wait to see how everything will work and whether it is really as they promise.

[Rikafip]

Nope, this is not pyramidal schemes. Just a way of promoting his exchange. They will give you some rewards in exchange for using their platform and if they actually pay the promised reward there is nothing shady. the other thing is that it is a very small amount and the high fee will probably eat all of the earnings.
it certainly doesn't pay to do the whole procedure because of the potential $5 profit.

It is a very dodgy way to promote the exchange! First they pumped that KICKICO shitcoin, they they sent their useless and worthless locked tokens to hundreds of thousands of ETH wallets without people actually asking for them or doing anything, just basically "showing them down their throat". Those tokens were in wallet, showing that they are worth something, while in reality you couldn't do anything with them.

Maybe they are not pyramid scheme in strict sense, but they certainly used pyramid scheme marketing techniques. I mean, I don't know about any legit exchange that has referral system with 10 levels of depth. Whats even more dodgy is how they presented the possibilities of passive income via referral system.




No wonder that current price is around ~1 satoshi and even that is too much for this shitcoin. I wonder if anyone managed to successfully unlock those 888,888 airdropped tokens.

[examplens]

First, to be clear, I have nothing to do with the Kickico project. As many others just receive an airdrop from there and because of that I heard about them. I’m not interested in him, nor have I researched much of it, I'm just pointing out that their promotion (not the whole project because I don't know anything more about them ) is completely legitimate for now.

Maybe they are not pyramid scheme in strict sense, but they certainly used pyramid scheme marketing techniques. I mean, I don't know about any legit exchange that has referral system with 10 levels of depth. Whats even more dodgy is how they presented the possibilities of passive income via referral system.

they plan to make a profit from traders fee, which is completely legitimate and all exchanges do that. How much referral level they plan to have doesn't really matter. Of course, they will say "get free $5" not "spend $10 on tx's fee to get free $5" or "you will be paid up to xx level of referral, although it will only be dust".
Usually, all promotions and free money are looking for something in return but this is only mentioned at the end. As long as they really pay off with money that came from real income, not taken from investors, this promotion is legal.

Something completely different is the question of whether it is really worth it. I see on freebitco.in the faucet, usually claim is 1 satoshi. Whether they are fraudsters if advertised "get free Bitcoin..." although we know that it is almost an impossible mission to raise the required amount for withdrawing.

No wonder that current price is around ~1 satoshi and even that is too much for this shitcoin. I wonder if anyone managed to successfully unlock those 888,888 airdropped tokens.

as I stated in a previous post, unlocking airdropped tokens will be possible only when using his exchange to cover 50% of the trading fee. There I can't see any problem, for example, Binance offering -50% of the fee if you pay it with a BNB token. this is a very similar thing.

[Rikafip]

First, to be clear, I have nothing to do with the Kickico project.

I have no doubts about that, nor I ever thought that.

hey plan to make a profit from traders fee, which is completely legitimate and all exchanges do that. How much referral level they plan to have doesn't really matter. Of course, they will say "get free $5" not "spend $10 on tx's fee to get free $5" or "you will be paid up to xx level of referral, although it will only be dust".
Usually, all promotions and free money are looking for something in return but this is only mentioned at the end. As long as they really pay off with money that came from real income, not taken from investors, this promotion is legal.

I didn't say its illegal, I just said that is pyramid scheme type of referral  as I don't any other  legit exchange that has similar referral system. For me that's a big red flag, to see 10 level referral system as I found them only in scams.

Something completely different is the question of whether it is really worth it. I see on freebitco.in the faucet, usually claim is 1 satoshi. Whether they are fraudsters if advertised "get free Bitcoin..." although we know that it is almost an impossible mission to raise the required amount for withdrawing.

You are forgetting one important thing here; KICKICO sent their worthless useless locked tokens to huge amount of people who never wanted it, nor they ever asked for it. But before they did that, they pumped the token so people think they got something that will have some worth. But in order to get those shitcoin, you have to trade on their exchange. This is pure spam technique, and if you try something like that on bitcointalk forum, you would get banned.

Their marketing technique may be legit/legal, but no decent exchange would so something like that, to attract users by baiting them, sending unsolicited tokens. Well, I personally would never use exchange or any other business that uses that. Its just when I see someone marketing something so aggressively, that's a huge red flag for me.

[masulum]

You are forgetting one important thing here; KICKICO sent their worthless useless locked tokens to huge amount of people who never wanted it, nor they ever asked for it. But before they did that, they pumped the token so people think they got something that will have some worth. But in order to get those shitcoin, you have to trade on their exchange. This is pure spam technique, and if you try something like that on bitcointalk forum, you would get banned.

Their marketing technique may be legit/legal, but no decent exchange would so something like that, to attract users by baiting them, sending unsolicited tokens. Well, I personally would never use exchange or any other business that uses that. Its just when I see someone marketing something so aggressively, that's a huge red flag for me.

But who would have thought, currently this frozen token is now showing a value of around $ 440. Even so, until now I have not been interested in withdrawing it. My reason is that apart from having to complete KYC, as a trader with small capital, it could take me one year or more, to be able to release all the tokens from frozen wallet. It could be that this is also a hidden pump plan for the KICK token. Thus there will be many members who eventually become interested in registering and following the process for claims their frozen airdrop otokens.

[Rikafip]

But who would have thought, currently this frozen token is now showing a value of around $ 440. Even so, until now I have not been interested in withdrawing it. My reason is that apart from having to complete KYC, as a trader with small capital, it could take me one year or more, to be able to release all the tokens from frozen wallet. It could be that this is also a hidden pump plan for the KICK token.

This current value of ~$440 is temporary as few weeks ago KICK token was 1/10 of the current price. This is just another pump and dump round of KICK tokens, something that they do in regular intervals in order to attract new people to try unfreeze those locked tokens.

It could be that this is also a hidden pump plan for the KICK token. Thus there will be many members who eventually become interested in registering and following the process for claims their frozen airdrop otokens.

But imagine how much trading you have to do in order to unlock those tokens, especially if you are small time trader, and only those will go through something like this to get few dozens of dollars worth of tokens. Since they are probably not an experienced traders, they will probably end up loosing more through trading than those tokens are worth.

Yobit and HitBTC are Coinbase for these guys..

[stadus]

I have received the frozen airdrop. How can I sell these coins now? Do I need to sign up on their beta exchange platform and do what?
There's no specified instructions...

It's so confusing but if I understood it well, you will have to wait for the official release of their exchange KickEx which will happen on Q2 of this year according to their road map.
Then, you will have to create an account and verify your identity (KYC). I doubt it will have any value by then.

Was the token airdropped part of the supply? Then why do you think it will not have any value the moment its unlock?
Maybe you meant people will dump and the value will go down, am I right?

I'm following this thread as I was also surprise I have some KICK in my wallet, I cannot remember I participated in a bounty campaign before.. maybe I did but it was a long time ago and this token has no value before so maybe it slipped in my mind.

[Rikafip]

I'm following this thread as I was also surprise I have some KICK in my wallet, I cannot remember I participated in a bounty campaign before.. maybe I did but it was a long time ago and this token has no value before so maybe it slipped in my mind.

You don't remember doing anything to get KICK tokens because you didn't have to do absolutely anything to get them, except to have relatively active ETH wallet at the time they were sharing those shitcoins. Tens of thousands of people have those useless shitcoins that they never wanted, or did anything to get them.

If I remember correctly their plan was to distribute 888,888 KICK to 1 million addresses, with the hope that some will swallow the bait and either buy more KICK  or register on their exchange in order to unlock them.

[stadus]

I'm following this thread as I was also surprise I have some KICK in my wallet, I cannot remember I participated in a bounty campaign before.. maybe I did but it was a long time ago and this token has no value before so maybe it slipped in my mind.

You don't remember doing anything to get KICK tokens because you didn't have to do absolutely anything to get them, except to have relatively active ETH wallet at the time they were sharing those shitcoins. Tens of thousands of people have those useless shitcoins that they never wanted, or did anything to get them.

If I remember correctly their plan was to distribute 888,888 KICK to 1 million addresses, with the hope that some will swallow the bait and either buy more KICK  or register on their exchange in order to unlock them.

Now I know, so I should not be excited with my token holdings now as there's a little chance that I would be able to enjoy it. Bad marketing strategy, I guess this project would not last, it just pump because of the bull run hype but in the long run they might still fail.

[masulum]

But imagine how much trading you have to do in order to unlock those tokens, especially if you are small time trader, and only those will go through something like this to get few dozens of dollars worth of tokens. Since they are probably not an experienced traders, they will probably end up loosing more through trading than those tokens are worth.

I can't imagine anymore, even though it looks tempting, with the current ETH gas price, it will make us more and more losing. We never know where this token price will end. So, it is better for this tokens to have value in the wallet than we are forcing, but when all the tokens are unfreeze, that tokens cannot be sold at a high price, as we know this is just pump and dump, we don't know where the price will be stopped.

[GrosWesh]

I can't imagine anymore, even though it looks tempting, with the current ETH gas price, it will make us more and more losing. We never know where this token price will end. So, it is better for this tokens to have value in the wallet than we are forcing, but when all the tokens are unfreeze, that tokens cannot be sold at a high price, as we know this is just pump and dump, we don't know where the price will be stopped.

Unfortunately, you can stay assured tokens value will dump hard once they are unlocked (maybe end of 2021 if i correctly understood ?).

This token is faking our wallets real value by now ! 

[aioc]

Unfortunately, you can stay assured tokens value will dump hard once they are unlocked (maybe end of 2021 if i correctly understood ?).

This token is faking our wallets real value by now ! 

I have 3 of my wallets with Kicks on it, it's one of the annoying shitcoins that I always see every time I logged in to my main wallets, it's value is going up and down and it has some impact on me because my wallets are not showing the correct value, because of the presence of these shitcoin, it's one of the coins that I want to get rid of to bring back the real on time value of the coins I have in my wallet.

I have no updates on this token, if they ever unlocked it, it will bring down the value to zero but at least I can get rid of it.

[ene1980]

~
If I remember correctly their plan was to distribute 888,888 KICK to 1 million addresses, with the hope that some will swallow the bait and either buy more KICK  or register on their exchange in order to unlock them.

The bait actually worked and when i was going through my old wallet which were empty i found one with $400 odd and was checking how it came to my wallet but never found an answer and now after seeing this thread i knew i made a mistake as i already transferred ETH to that wallet thinking i could send and then came to know about the restrictions  .

So anyone here tried to unlock the coins and how much dollars worth you need to trade for the coins to be unlocked.

[Rikafip]

Unfortunately, you can stay assured tokens value will dump hard once they are unlocked (maybe end of 2021 if i correctly understood ?).

This token is faking our wallets real value by now !  

They way I understood it, tokens are unlocked when you are active on their exchange. AS you are trading, you are earning what they call "$KEX tokens" which are used to unlock KICK tokens. So the only way to unlock them is to actively trade, and how many successful traders you know?

I have no updates on this token, if they ever unlocked it, it will bring down the value to zero but at least I can get rid of it.

Sooner or later it will go to 0, but until then it will remain annoyance in the wallet, that's for sure.

The bait actually worked and when i was going through my old wallet which were empty i found one with $400 odd and was checking how it came to my wallet but never found an answer and now after seeing this thread i knew i made a mistake as i already transferred ETH to that wallet thinking i could send and then came to know about the restrictions  .

Hah yeah, that sucks, but at least you didn't decide to buy more of that KICK tokens, or to register on their exchange and trade in order to unlock them, which was their main plan.

So anyone here tried to unlock the coins and how much dollars worth you need to trade for the coins to be unlocked.

Bare in mind that KICK is pump&dump shitcoin, so current price can dramatically change any day now. While current value of 888,888 KICK is ~500 USD, just one month ago it was ~25 USD. Every once in a while they have this pumps as an attempt to attract people like you to register and trade on their exchange. So chances are that by the time you finish with unlocking price will go down where it was before, close to 0.

Thing is, if you are good trader, this money is peanuts for you and you can make it easily on any other exchange. But if you are not, you will loose more money while trying to unlock KICK tokens than they are worth. As simple as that.

[ene1980]

~

The bait actually worked and when i was going through my old wallet which were empty i found one with $400 odd and was checking how it came to my wallet but never found an answer and now after seeing this thread i knew i made a mistake as i already transferred ETH to that wallet thinking i could send and then came to know about the restrictions  .

Hah yeah, that sucks, but at least you didn't decide to buy more of that KICK tokens, or to register on their exchange and trade in order to unlock them, which was their main plan.

I did register to see the trading volume and when i tried to send the coins i came to know about the restrictions and hell no i am not going to purchase anything else to cash this out as i know i will be richer never touching those coins rather than trading when i do not need to.

So anyone here tried to unlock the coins and how much dollars worth you need to trade for the coins to be unlocked.

Bare in mind that KICK is pump&dump shitcoin, so current price can dramatically change any day now. While current value of 888,888 KICK is ~500 USD, just one month ago it was ~25 USD. Every once in a while they have this pumps as an attempt to attract people like you to register and trade on their exchange. So chances are that by the time you finish with unlocking price will go down where it was before, close to 0.

Thing is, if you are good trader, this money is peanuts for you and you can make it easily on any other exchange. But if you are not, you will loose more money while trying to unlock KICK tokens than they are worth. As simple as that.

I am not going to put much effort, when i read their unlock methods, they cited an example that we need to have around $18 KUSD something like that to unlock the coins and every 16 USDT worth of trading will give you a dollars worth of KUSD. If that is the real situation then it is not that hard to unlock those coins but i have not heard about anyone unlocking and i do not want to spare my time experimenting for $400 either.