Is coinsbit.io scam?

[Kadal Ijo]

Dear all,

I deposit crypto in the coinsbit.io, unfortunately at that time I was not careful that when withdrawing, I had to complete KYC, then I submitted an application and more than 3 months from now the status is still "in process", I've often asked for help in the chat to complete KYC, and was once in a telegram group and said that more than 3 months the application is still "in process" then they block my telegram account.

From now on I remind you to be careful with coinsbit.io

[1679376560]

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[1679376560]

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[1679376560]

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[OmegaStarScream]

It's definitely not the most reliable platform out there, I have seen some serious scam accusations about them in the past[1][2][3].

As for the KYC, then sadly, that's something a lot of exchanges do. You should always make sure to check the exchange's KYC policy before making an account.

[1] https://bitcointalk.org/index.php?topic=5210202.0
[2] https://bitcointalk.org/index.php?topic=5312866.0
[3] https://bitcointalk.org/index.php?topic=5195285.0

[YOSHIE]

From now on I remind you to be careful with coinsbit.io

Apart from the alleged fraud against the coinsbit.io exchange given by: @OmegaStarScream, maybe the members here already know the actions of the coinsbit.io exchange, customers know the good and the bad.

For that there are some other accusations, as below the accusation about the coinsbit.io exchange.

Compilation of coinsbit.io scam (experience from some victim) :
1. COINSBIT.IO SCAM EXCHANGE + PONZI SCHEME !!!
2. coinsbit.io has taken all my funds without any explanation, looks like SCAM
3. Coinsbit is Legit exchange? or SCAM?
4. Coinsbit SCAM?
5. BEWARE: Coinsbit Scammers Create Their Own Investbox (Yobit style)

My advice, if you haven't used it yet it's good enough for you, if you're already using stop don't use it again look for a trusted, good and trustworthy exchange.
So try a little research, for newcomers and discuss in this forum if you are interested in an exchange site you would like to like.

[logfiles]

I've often asked for help in the chat to complete KYC, and was once in a telegram group and said that more than 3 months the application is still "in process" then they block my telegram account.

If they even have the audacity to block you from the chat just for inquiring about your KYC status, then that speaks volumes about them being a  scam exchange.
I have warned some members a number of times against using coinsbit because of the numerous complaints customers have against them. This should be a lesson that next time you first carry out due diligence before using a service.

[BitMaxz]

How did you end up using this exchange?
This is what happens to those people who are eagerly want to exchange coins or tokens.

I hope next time do some research first or ask here if the exchange is legit or not to avoid scam. The ranking and trust score on Coingecko is useless you must ask or do research before you decide to deposit.

[The Cryptovator]

This isn't a much popular exchange here and a couple of scam accusations against them. However, although there is a scam accusation against all the exchanges, you should read the terms and conditions before depositing your fund to a new exchange.  I am wondering why you select such as exchange that isn't much popular nowadays? And one more thing, when you intend to use any centralized exchange just be ready to provide your KYC documents. They could change their terms and conditions at any time.

[Ratimov]

From now on I remind you to be careful with coinsbit.io

I remember this exchange well. They hired paid posters to provoke discussion about this exchange with a simple question about the exchange. For example: Guys, tell me, is the coinsbit.io exchange reliable or not? And then a detachment of newbies from the bumping service immediately appeared, who talked about the advantages of this exchange.

This is such a cheap attention grabbing tactic that it becomes obvious to an experienced crypto user that an exchange that uses this attention grabbing technique is definitely unreliable and not worth doing business with. After such representations, topics began to appear in the English part of the forum with accusations of scamming this exchange, and then everything fell into place.

coinsbit.io is definitely on the blacklist of exchanges.