Is Bitrue safe ? | Bitcointalksearch.org

pealr12

hero member

Activity: 1946

Merit: 502

Quote from: JeromeTash on August 11, 2020, 03:29:29 AM

UPDATE FOR THOSE PLANNING TO USE THE EXCHANGE
Bitrue exchange has been freezing people's accounts they suspected to be doing arbitrage trading. Do not be the next victim.

Here are their weird terms and conditions on arbitrage trading

Quote

During any transaction with other members, you will be in good faith, will not take any acts of unfair competition, will not disturb the normal order of online transactions, and will not engage in any acts unrelated to online transactions. You will not use any data on Bitrue for commercial purposes, including but not limited to using any data displayed on Bitrue through copy, dissemination or any other means without prior written consent of Bitrue. You will not use any device, software or subroutine to intervene or attempt to intervene the normal operation of Bitrue or any ongoing transaction or activities on Bitrue. You will not adopt any action that will induce unreasonable size of data loading on the network equipments of Bitrue. You will not engage in n-degree arbitrage trading to exploit the inefficiencies of the market. You acknowledge and agree: Bitrue shall have the right to unilaterally determine whether you have violated any of the covenants above and, according to such unilateral determination, apply relevant rules and take actions thereunder or terminate services to you, without your consent or prior notice to you. As required to maintain the order and security of transactions on Bitrue, Bitrue shall have the right to close relevant orders and take other actions in case of any malicious sale or purchase or any other events disturbing the normal order of transaction of the market.

Source: https://www.bitrue.com/exchange-web/footer/terms.html

This thread has all sorts of complaints about frozen accounts - https://bitcointalksearch.org/topic/bitruecom-exchange-is-a-scam-5102171

Thanks for the information sir, i was going to sell my token on bitrue cause that is the only exchange i can sell the token then i saw this thread now i know what to do.

JeromeTash

legendary

Activity: 2338

Merit: 1261

Heisenberg

UPDATE FOR THOSE PLANNING TO USE THE EXCHANGE
Bitrue exchange has been freezing people's accounts they suspected to be doing arbitrage trading. Do not be the next victim.

Here are their weird terms and conditions on arbitrage trading

Quote

During any transaction with other members, you will be in good faith, will not take any acts of unfair competition, will not disturb the normal order of online transactions, and will not engage in any acts unrelated to online transactions. You will not use any data on Bitrue for commercial purposes, including but not limited to using any data displayed on Bitrue through copy, dissemination or any other means without prior written consent of Bitrue. You will not use any device, software or subroutine to intervene or attempt to intervene the normal operation of Bitrue or any ongoing transaction or activities on Bitrue. You will not adopt any action that will induce unreasonable size of data loading on the network equipments of Bitrue. You will not engage in n-degree arbitrage trading to exploit the inefficiencies of the market. You acknowledge and agree: Bitrue shall have the right to unilaterally determine whether you have violated any of the covenants above and, according to such unilateral determination, apply relevant rules and take actions thereunder or terminate services to you, without your consent or prior notice to you. As required to maintain the order and security of transactions on Bitrue, Bitrue shall have the right to close relevant orders and take other actions in case of any malicious sale or purchase or any other events disturbing the normal order of transaction of the market.

Source: https://www.bitrue.com/exchange-web/footer/terms.html

This thread has all sorts of complaints about frozen accounts - https://bitcointalksearch.org/topic/bitruecom-exchange-is-a-scam-5102171

Shohag123

member

Activity: 385

Merit: 12

Quote from: pronoob on August 02, 2020, 08:26:09 AM

I have been using it since few days without problem though support seems like not very responsive. There are few scam accusation but i am taking that little bit risk and not depositing amounts that big for me.
What is your experience ?

You shouldn't use the exchanges which has a scam accusations.You never know they can scam you and can take all of your money.There are countless of exchanges which are highly reputed.Use highly reputed exchangeAnd Bitrue exchanges support sucks.I just hate this kind of exchanges which support system is poor.I have used Bitrue exchanges 1 year ago.That time it works fine but my deposit comes a little later.From then I have never used Bitrue exchange.Recently they have a anniversary gift and you have to deposit around 100-200$.I don't remember exactly .That time I was thinking to deposit but after hearing some scam accusations I didn't deposit.

anu1908

sr. member

Activity: 770

Merit: 268

Quote from: pronoob on August 05, 2020, 03:54:50 AM

Binance support is also responds slow.

nearly all customer support is slow atm, maybe due to the covid limitation. if it were me i'd not use an exchange that not responds after a few weeks and tickets, but still accepts if they're slow (respond after a few days) as long as they really help me and not send a broken robot response.

pronoob

jr. member

Activity: 31

Merit: 4

Quote from: shoreno on August 04, 2020, 03:29:46 AM

not responsive support is a sign of a bad exchange add in the scam accuse that you saw but i dont know if those people really got scammed of their issues were only fix delayed because of the slow response of support . what your doing is fine because you only invest what you can afford to loose .

i dont have an experience on that site but it looks that your confident and thats more important more than anything else . just continue what you are doing , good luck

Binance support is also responds slow.

Ridwan Fauzi

full member

Activity: 1330

Merit: 147

I had used this exchange last year, actually it was just for staking some altcoin like tron. I got reward from the staking depend my capital and at that time it ran properly, I mean I didn't find a problem.

You are true, I just deposited around $100 because I was afraid getting scammed. But now I didn't use it anymore, I just focus to be a trader and being day trader in binance exchange. Seem like to be a day trader is more profitable rather I staked some altcoin especially in unknown exchange.

Mpamaegbu

legendary

Activity: 2716

Merit: 1225

Once a man, twice a child!

Bitrue, for me, seems a nice exchange. I have been on the site since 2019 because I had to buy its coin (Bitrue) as it's only listed on that exchange just like BNB was on Binance only at its inception. I haven't had any issues using the exchange and I don't think people have. I am perplexed that this scam issue is coming up against them. You may want to check the strength of the Bitrue exchange on that link.

shoreno

full member

Activity: 1750

Merit: 118

not responsive support is a sign of a bad exchange add in the scam accuse that you saw but i dont know if those people really got scammed of their issues were only fix delayed because of the slow response of support . what your doing is fine because you only invest what you can afford to loose .

i dont have an experience on that site but it looks that your confident and thats more important more than anything else . just continue what you are doing , good luck

Jawhead999

legendary

Activity: 1820

Merit: 1207

What's wrong here? Actually you're aware what you has doing, I mean you have do own research before and find some accusation against that exchanges, but you decide to try it. So, it's up to you and there's no need to discuss about this exchanges. Except, you already get scammed (creating accusation) ,asking misunderstood terms, find some bug, etc.

elda34b

sr. member

Activity: 910

Merit: 351

Quote from: sheenshane on August 03, 2020, 06:34:50 PM

a trusted exchange that has existed for how many years of service. Dont trust especially newly launched crypto exchange.

The number one exchange right now just started around 3 years ago, it's not that old either but I'd say that you should at least avoid those with clear red flags. And btw, Bitrue is launched in July 2018 according to CMC, so it's not new, just not that popular.
https://coinmarketcap.com/exchanges/bitrue/

Kotone

hero member

Activity: 1372

Merit: 503

Ive used this exchange no issue at all. If youre looking for a feedback well it will depends on users experience. Never got any issue with my trades did on this market. Maybe there are some who saying scam but we never know if they are telling the truth or just simply creating fud over that market.

But most opinion is better, trade at your own risk but make sure to know the consequence. If your just a trader looking for a better place, then there are lots of good exchange to choose from like Binance and Kucoin.

sheenshane

legendary

Activity: 2492

Merit: 1232

IMO, why I use the unpopular exchange. It seems to risk my money if I will deposit and I don't even know their legitimacy.

I didn't experience this exchange site but I will advise users to always have their research first before using an unpopular exchange. Dont trust review services, it might be faked by them using dummy accounts and have good ratings. For the security of your fund, use a trusted exchange that has existed for how many years of service. Dont trust especially newly launched crypto exchange.

mexite

jr. member

Activity: 706

Merit: 4

I have used the exchange only once and I didn't have any issues trading or withdrawing my funds, though it was a small fund. That said, I'm always weary of centralized exchanges because anything can happen; they may exit scam or be targeted by hackers as has happened in the past. Decentralized exchanges are safer to trade but for liquidity and low speed issues.

Trade safely anyway.

AthenaBanana

copper member

Activity: 392

Merit: 1

Quote from: pronoob on August 02, 2020, 08:26:09 AM

I have been using it since few days without problem though support seems like not very responsive. There are few scam accusation but i am taking that little bit risk and not depositing amounts that big for me.
What is your experience ?

last week I made a withdrawal and I didn't face any problem on getting my funds out of their exchange but long before I have an issue on this exchange
in 2018 when they made an airdrop and my airdrop reward is converted to LINK coin when I am trying to withdraw it was rejected it is still shown in the withdrawal history.

elda34b

sr. member

Activity: 910

Merit: 351

This exchange is not unpopular per se, it is within the top 40 according to Coingecko, and their volume is not so bad either. As far as I can remember, their most important product is the Piggy for staking since the funds are insured. I personally know some whales are using their services to stake coins, but can't say more than that.

I think I'd not use them if I just want to trade, since Binance and other top exchanges have way more volume than Bitrue.

Quote from: Akiko on August 03, 2020, 01:22:35 AM

ill never use that exchange but having that many scam accusation is already a red flag for any exchange.

How many are the accusations? I don't see OP even mentions the number of it.

Akiko

full member

Activity: 896

Merit: 198

Quote from: pronoob on August 02, 2020, 08:26:09 AM

I have been using it since few days without problem though support seems like not very responsive. There are few scam accusation but i am taking that little bit risk and not depositing amounts that big for me.
What is your experience ?

ill never use that exchange but having that many scam accusation is already a red flag for any exchange. You are doing it right don't just deposit big amount in any exchange mostly if this is just a new exchange there are many exchange that already shutdown or close even how good the exchange they are , there is always a risk and they can disappear unexpectedly.

inanilujimi

sr. member

Activity: 1876

Merit: 259

I do not have experience in the exchange that you said, but it would be nice not to use an exchange that is not liked by many people, do not want to take risks on an exchange that can not be trusted.

TheUltraElite

legendary

Activity: 2898

Merit: 1253

So anyway, I applied as a merit source :)

Seems weird to me that the OP saw some scam accusations but still decided to use them. Did they offer free cookies to every user? Tongue

What was the issue that their support was not responsive with? Maybe they are taking their time or working from home leading to delays. I am not sure if they have a representative account in this forum but if you want some traction it would better if you posted little bit more details about what happened.

Then we can decide whether or not to start a scam accusation against the site.

batang_bitcoin

hero member

Activity: 3080

Merit: 603

Quote from: JeromeTash on August 02, 2020, 06:36:44 PM

Why take the risk with your money yet the exchange seems unpopular and has some scam accusations around the forum. Just use much more reputable and popular exchanges like Huobi, Kucoin, Bittrex, Binance etc. Prevention is better than Care.
I have been a trader for a while but this is my first time hearing about bitrue

I second this.
I see a lot of new members of the forum complaining that their money was stuck in an exchange. And after asking what exchange was that, they've said an exchange that's not very familiar to many of us. It's a fair advise to use those suggested exchanges by Jerome.
It's better to be with those reputable exchanges because they've been in the industry for quite a while rather than exchanges that many are not familiar with.

Twinkledoe

full member

Activity: 1904

Merit: 138

★Bitvest.io★ Play Plinko or Invest!

Quote from: pronoob on August 02, 2020, 08:26:09 AM

I have been using it since few days without problem though support seems like not very responsive. There are few scam accusation but i am taking that little bit risk and not depositing amounts that big for me.
What is your experience ?

What is your major reason why you are using an unfamiliar exchange over the established ones? Do they have coins that are only listed on their exchange? Because it is not safe to trade with new exchanges especially that you mentioned they have few scam accusations.

Topic: Is Bitrue safe ? (Read 199 times)