I decided to try 796.com instead of BTC-E to see what it was like. I transferred in $80 from my bitcoin wallet, and sold .125 bitcoin on the Spot trade for just slightly over the current rate (around $646 per bitcoin).
Ok, so now I had $81 or so in my cash wallet.
I tried to buy and sell more BTC, but then I looked and saw that they had barely over 1 bitcoin as their volume. And on top of that, there's a "top-list" bot they use to outbid any attempt you make to try and buy your own bitcoin back for less than market value. It changes and readjusts the moment you try to invest, even by a few pennies. AYFKM?!
So I said screw it, I'll try to buy some lite coin. Ok, but after a day or so, no one was buying or selling litecoin on there, and they only had a volume of 12 coins. What type of exchange is this anyway??
I figured I might transfer out my money via international wire then at a loss of 10%, since they're not going to let me buy back my own bitcoin for even half the price. But there was a "system error" when I loaded the page. How convenient!
So I had finally had enough of this crap and decided to go back to BTC-e, buy PPC for slightly above market value to guarantee a sale that wasn't too much of a loss (maybe 3%) and then transfer the peercoin into BTC-e for use there.
Guess what they did?
They let me buy 22.1991 peer coin at $2.20 per coin, deducting $44.43 as was the amount.
And then they stole the remaining $36.42.
My cash wallet with $80.86 now has $0.00, and my peercoin wallet only ha 22 coins in it.796.com steals from their customers. Avoid like the plague if you're serious about investing bitcoin, litecoin, or ppc.I immediately wrote to their support and started a ticket, but it's been several hours now and there's been no response, so I figured I would create an account here and let you guys know what's going on with them.
I requested for them to contact me and either refund the entire transaction of ppc, or to simply put back the $36.42 they just stole out of my cash wallet so I can figure out how to get that out of there another way and back to safety.
There has been no responses to my ticket with them whatsoever.If you're looking to invest in bitcoin, litecoin, peercoin, futures, or any other type of cryptocurrencies, DO NOT USE 796.COM. They do not bother to respond, they are apparently a foreign
scam exchange, and they will not bother to respond after they've ripped you off and stolen from you.
Besides Mt.Gox, 796.com looks like the next big thief. Only this time, they're in China.
I've never had these issues with BTC-e, Kraken, or Bitstamp.
I think I'm going to stick with them instead of the Chinese thieves that just robbed me.
You've been warned. Stay safe.
J
