Topic: Is Coinpoly.com a scam? (Read 1710 times)
A legit bitcoin website will have a hard time sustaining accepting paypal and credit card because of the chargebacks and fraud. If there are sites that accepts paypal there might be very high fee to recoup the losses or the website is a fraud.
It looks like their paypal account is limited.
"This recipient is currently unable to receive money.
Your purchase couldn't be completed
There's a problem with the merchant's PayPal account. Please try again later."
"This recipient is currently unable to receive money.
Your purchase couldn't be completed
There's a problem with the merchant's PayPal account. Please try again later."
They have probably already been reported for scamming someone and their account is under review.
I have feeling the website is a scam. They claim to be a member of bitcoin foundation. I haven't seen coinpoly on the bitcoin foundation members list. They also don't use ssl which is very vital for security of an exchanger site.
It looks like their paypal account is limited.
"This recipient is currently unable to receive money.
Your purchase couldn't be completed
There's a problem with the merchant's PayPal account. Please try again later."
"This recipient is currently unable to receive money.
Your purchase couldn't be completed
There's a problem with the merchant's PayPal account. Please try again later."
http://coinpoly.com/
A few things that would lead to believe its a scam
1) their Bitcoin price is often below market rate (OK Coin/Kraken/Coinbase)
2) They claim to be able to exchange Bitcoin for paypal/credit card (which is pretty rare)
3) I believe they have a release time on Bitcoins, so you pay them, and they release it in 10 days or something. I believe if they used fake Paypal accounts they could transfer your money out by then, so when you complain that you didn't receive anything and try to chargeback, their paypal account would already be empty
4) I tried to test it out with $10 (money I would use to test it), but it requires a minimum $100 (which is a lot to gamble to test if the site a scam I would be out a lot)
So, everything tells me this is a scam but I would like to hear other people opinion about this.
A few things that would lead to believe its a scam
1) their Bitcoin price is often below market rate (OK Coin/Kraken/Coinbase)
2) They claim to be able to exchange Bitcoin for paypal/credit card (which is pretty rare)
3) I believe they have a release time on Bitcoins, so you pay them, and they release it in 10 days or something. I believe if they used fake Paypal accounts they could transfer your money out by then, so when you complain that you didn't receive anything and try to chargeback, their paypal account would already be empty
4) I tried to test it out with $10 (money I would use to test it), but it requires a minimum $100 (which is a lot to gamble to test if the site a scam I would be out a lot)
So, everything tells me this is a scam but I would like to hear other people opinion about this.
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