Topic: Tradesatoshi is a scam ? (Read 444 times)

Hello everyone as you now in last months TradeSatoshi stop withdraw at different coins making difficult for user to withdraw their money.
But newer they have a new practice lock people account and never restore .

I know are a lot of people with this problem and this is the reason i open this post and someone need to make something
 against them or will leave with people money .


I want to collect all users story about how they have been scam by this site and after that i will open a complaint at police about this
even need to be opened in 3 states .

All person are free to send his story at this email : [email protected]

This site domain is hosted at GoDaddy and you can raport an abuse ther at this adress : [email protected]
Registrar Abuse Contact Phone: +1.4806242505

Domain Name: tradesatoshi.com
Registry Domain ID: 1979629160_DOMAIN_COM-VRSN
Registrar WHOIS Server: whois.godaddy.com
Registrar URL: http://www.godaddy.com
Updated Date: 2019-11-15T12:10:22Z
Creation Date: 2015-11-14T10:26:16Z
Registrar Registration Expiration Date: 2020-11-14T10:26:16Z
Registrar: GoDaddy.com, LLC
Registrar IANA ID: 146
Registrar Abuse Contact Email: [email protected]
Registrar Abuse Contact Phone: +1.4806242505

Please distribute this message for all user to see it and send a ticket to abuse section and a confession at that mail .
The more we are, the greater the chances of being held accountable for the crimes committed.

Why I still use TS from time to time, and yet to encounter any sort of scam but based on my persona experience they are sort of a manipulative bunch to start with. I wouldn’t recommend putting any sort of real money into this exchange especially amount that you are not comfortable losing. This exchange offers a lowly paid faucet and a chat trollbox that tips junk coins to unsuspecting newbies who are just in it to get something free.

Newbies do not know that everytime they click a captcha Trade Satoshi gets paid and what they offer in return is definitely below industry faucet standards. Which faucets gives 2 satoshi per captcha solved every hour right? not a scam but definitely a cheapskate. Imagine if you had a boss who pays you wages 75% below market rate, in the real world that is called exploitation lol. And the best part is this most of the newbies will never be able to withdraw much of anything they collected because of the massive minimum withdrawal they imposed and sky high fees.

They have too many or frequent wallet maintainence. And you are advice to check every time you decide to deposit/withdraw from the wallet which I find is a hassle. The seem unable to conduct maintainence like other exchanges where it is done in a single day. Even with so many frequent wallet maintainence  some of their wallets still do not function properly. I have deposited some coins before only to have it magically “misplaced”. I say used the word “misplaced” because I was able to retrieve it after a few hours when the price of the coin has changed.

Now generally one would assume that if a exchange had a chatbox or trollbox as they call it asking for help or
support would be easy, but thats not the case. Asking for help in their troll box is a futile attempt because their mods would ask you to send a support ticket for everything. Especially question or issues that will jeopardise their image. Like if they make any sudden changes to their terms or increase of fees and you ask the mods in a casual way “hey what with the sudden change” , you would be replied with a send a support ticket. Which i find is completely stupid, because its as if their mods are bots amd cannot tell the difference between a casual question or one that is issue related. Not forgetting that their chatbox has one few dumbest rule, type to much its spam, type to little its bot, ask a causal question support ticket, no avatar gets you banned. Users are expected to go in and just type hello everybody good morning and night. And something I notice is they have tons of mods but most are completely useless.

Their news or announcement section announce the delisting of coins regularly and anything but the important issues. What happens to the coins which are delisted is unknown but one can only suspect that it goes into their own account. Thats because most of the newbies collect it from the faucet and they are never able to reach minimum withdrawal unless they buy them junk coins to top up. It’s really a catchy setup if you ask me have a faucet which pays peanuts, have a chatbox which tip junk coins, have a trading platform with high minimum withdrawal and high fees. That way the more the newbies click on the faucets the more money they make.

Now about their image or reputation one can not deny that every exchanges has it problems just like every businesses in the real world has unsatisfied customers or client. But if you type “Trade Satoshi Review on google” you will notice they seem to have more then usual scam accusation directed to them. If they do receive any sort of praise it would he about their security, speed and two factor authorisation and they will be rated 5 star lol. Now common sense says that their security can’t be better then the other giant exchanges neither can their speed and most top exchanges have two factor authorisation. Its an industry standard and theirs is nothing to gloat about and certainly doesn’t deserve 5 star rating. If they get getting 5 star then binance,bittrex should be getting what 10 stars ? lol. This certainly shows that they themselves are frequently getting on website to post fake reviews to sway public attention.

Now the most disturbing part is this they require KYC. I certainly won’t trust an exchange like this with my personal info and documents. And the terms and condition they stated is just to make them sound legitimate. People should understand crypto is still very much unregulated and while exchanges are require to have operating license no one can help you if they decide to change their terms and condition in anyway they see fit. Here in the crypto world we have only reputation and track records to work with. If they have a bad reputation or too many scam accusations you can be sure that some of it is probably true.

What made me lose confidence in this exchange is when they conducted a competition to increase their popularity. I personally participated in one of their competition whereby they stated every user would be given some sort of a prize regardless if they win or not. Sounds fair though the prize wasn’t much but at least the task completed wouldn’t be a waste of time and part of the task was to deposit into funds into  tradesatoshi lol. It was a JV event with cryptoadventure and they claim the prize would be given a month later. Now halfway through the month till the date they changed their terms and it was only capped to 300 winners.

Now cryptoadventure claim they had a unexpected surge of participants and only had limited funds so they figured that it would be best to make the minority happy and upset the majority.. That was the replied I got from them on twitter. ”it was stated on our terms and condition you should read properly next time”. Which was funny cause I read the terms and they changed it and they are asking me to read properly the next time. Well there definetely won’t be a next time for me lol. Now what really happened was is that during that one month period the price of coins fluctuate.

Now what came next was hilarious every mod actually went on twitter and supported/liked the idea lol. It almost look as if this exchange was some sort of a cult. This cult behaviour can also be seen on Trustpilot, a place where i frequently write my reviews and findings. If you search Trade Satoshi on google you will find one in trustpilot and you will see post after post regarding trade satoshi saying it the best exchange and given 5 star rating. I was planning to give them a nice honest review but just too busy lately but i still have the screenshot of their replies with me and will do so when i have more time.

in the end the verdict is this, while they might not outright scam you now track records and reputation shows that they certainly won’t hesitate to do so if there is an opportunity. A leopard can never lose it spots and anyone associated with them you should take precaution because birds of a feather flock together.

TRADESATOSHI is a scam exchange and robbed cryptocurrency of investors. Everyone SHOULD NOT trade on this Tradesatoshi Exchange. It was painful when I have been robbed money by Tradesatoshi. I have username on the tradesatoshi is LEBAO, My email is [email protected]

My account is username:LEBAO My Account email: [email protected] I don't know why my account is locked? I lost a lot of coins in balance on tradesatoshi STT Currency Symbol Total Balance 1 PAC Coin $PAC 310.02002154 2 808Coin 808 484,947.17608725 3 BITCOIN BTC 0.00000002 4 BITCOINR BTCR 36,206.58682634 5 BITCOINZ BTCZ 238,197.72766284 6 ColossusXT COLX 1,898,711.79430492 7 DOGECOIN DOGE 0.00000015 8 Espers ESP2 1,063,806.31345794 9 JOINCOIN J 0.11505567 10 LITECOIN LTC 0.00000001 11 IncaKoin NKA 27,206.00590000 12 STRONGHANDS SHND 23,122,441.21837620 13 SMILEYCOIN SMLY 1,097,796.77000000 14  Experience Points XP 417,505.15827405 TOTAL 28,387,128.89

You know how their website says they're a UK-based company (while the TOS refers to Hong Kong law)?

https://pasteboard.co/IfHLpWn.png

Good for you. I was there from July last year with no serious trouble until recently and would have said much the same as you. Then I learned differently.


I hope you never run into one of their "lapses" that they refuse to solve and which costs you everything you have on the exchange. There are plenty of them, as I've discovered to my loss. Support is no help at all when they decide to screw you.

Tradesatoshi isn't a scam. I have been trading on it since last month. There are just some lapses at times but it's smooth most of the time. They actually delist shitcoins whenever needed. If you're having problems, you can report it to their support team immediately.

Maybe they are fine with small amounts but I wouldn't trust TradeSatoshi with large amounts.  They like to pull the KYC card when you have a lot of bitcoin.  They also list a lot of scam projects and delist certain coins without any prior notification. 

Those are usually just people who are pissed off because they didn't get to sell their coins - which is normal when there's a delisting - or when no withdrawals are possible because the coin is broken - which is not the exchange's fault. I've lost coins like that before and you just have to suck it up or withdraw and hope someone revives it.

However, in my case, they kept 5,300,000 of a coin that was listed on their status page as "OK" but which I couldn't withdraw because of their system (max withdraw was set to zero despite the coin being active). And they've built a KYC system that makes no sense, keeping everything else I had. Support keeps repeating the same crap that doesn't apply and refusing to do anything, basically a huge "f*@k you" with no recourse. (Well, since they're UK-based, there's the Financial Ombudsman, who I'll be talking to, even if it's just to piss TS off with an investigation.)

Definitely avoid.

Most people do complain when it come to withdrawal of their token from TradeSatoshi Exchange. There are some scam accusations level against them but they always come around to defend them. In my own opinion, we should be very cautious on the type of exchanges we chose to trade.

Get out of TS now.

I've been there for years, with over 1,000 trades and never had any real issues apart from shit support and a demented set of trollbox rules. Loved the place: it was shitcoin heaven, with loads of cheap coins to play with.

Then they decided... something. I don't know what they're trying to do over there but the whole place has gone to hell. 75+ coins delisted in about a month, many without good reason (from discussions on a variety of channels) and some without the possibility of withdrawal (on working wallets - lost over 5 million coins on one because TS was messed up, nothing wrong with the wallet).

Then they suddenly inflict KYC randomly on people, with no possibility of adjusting your profile (and seriously, how many people have their real info in there when all it needs is a name and nothing else?) and requiring that the details on your ID match perfectly.

Their recent changes and fundamentally flawed KYC process just resulted in them keeping all my money, despite my ability to provide ID to prove who I am and everything else. Support has always been awful but they've recently taken a turn for the psychotic, refusing to help, refusing to fix stuff, refusing everything.

I always assumed people who had trouble there were just stupid or deliberately trying to scam or something. Not so. I'm totally legit (and KYC-passed on a multitude of other exchanges), have been there for years and just got fucked up the poop-chute by this thieving bunch of scum.

Get out now, while you still can.

Do people aware on keep answering this thread not seeing the date? This is old and op didnt tend to make some updates regarding on his issue.

By the way, tradesatoshi might have some issues but i cant say that it isnt a scam.This is just a typical type of problem on where most exchangers do encounter.

I don't think they are really a scam. Most people have major complains when it come to withdrawal. It might be an infrastructure issue but it has become too persistent. I only trade in Bittrex and Huobi Global exchanges. You can send a reminder to their support team or engage them via their social media channels most especially telegram and tag one of their Admins.

If you have done as you have been directed, maybe you have to be patience and send a reminder from time. You already have a response from the site , maybe they are still working on it.

just for people to know and understand a lil bit...
 here is for reference and to help the cause!

Yes, this exchange should be suspected of not having a clean practice (tradesatoshi SCAM?). They block me on chat cause saying their exchange engine is so poor (lagged, always must clear cache, severyl times maintanance) and after 5 minutes ban my account without any good reason, and mods lying in support, when i ask why i was banned they say: "Sorry but we detected unusual activity on your account and we freeze it." When i ask what excatly was "unusual activity' they can't proof that lie.
https://i.ibb.co/tmDxpgs/ts1.jpg
When i ask about 5 times what was "unusual activity" and why they need my id-photo they finally say that i break rule in chat  so this is reason that they LOCK my account and they want my ID=photo and selfie (lol they can use id-photo to take credit for my ID) and this is proof thate modchri from support lying.

https://i.ibb.co/4jTHPWK/ts5.jpg

There is no rules about it in Term (https://tradesatoshi.com/Home/Terms). Only id-photo and selfie is needed to veryfiy Leevel 2, in Level 1 there is no rules about id-photo:
https://i.ibb.co/YPR9NmY/ts4.jpg

For now they stole my money, they don't want to give me back my account, so tradesatoshi is SCAM. You was warned, there is many posts about lose money there, this is poor exchange with SMALL volume, with terrible engine and server, mods can ban Your account without reason, if Yoy don't want lose money - chosse another exchange with better practice.

I used Tradesatoshi a few times, even held BTC on it for a few weeks, but so far I can't say it's a scam site.
Sometimes a wallet can hangup and it delays transactions. If you have troubles you should contact support. And have lots of patience sometimes.

I haven't used tradsatoshi but I've seen people who are trading there who are sharing their experience there.

---

Just like what others are saying, if you are planning to withdraw why not withdraw it and see for yourself? There's no problem so far and they are starting to become popular. So far they have no problems base on others testimony about TS.

No, it's not a scam. I used the site a few times already. Only once I had a problem with the withdrawal page but that was just because of a technical problem for a short period of time.
I contacted them and got a reply in a decent timing, and they helped me to resolve my issue.
As you didn't explain what was your problem it isn't easy to help you, but remember to read the news from time to time, often we get our answer on twitter, news page, etc

There are some articles that cover this area,so I'll link them down below:
https://www.abitgreedy.com/tradesatoshi/
https://www.forexbrokerz.com/brokers/Tradesatoshi-Review
Just give it a read,you should find what you're looking for.

Even on top exchangers do really have issues as well and its really inevitable but same as being said on here towards tradesatoshi i dont see a reason for it to be a scam basing on recent feedbacks. Issues are common and normal but yet this site is still operational and do continue as well.

Big transactions would normally caught exchangers attention thats why most of us will face up problems along the way.

I did before and no problems encountered. However, it's been a long time, most likely there have been changes just like in other exchanges. Wait, you asked because you're planning to withdraw or just checking before using the site?

Few threads I was able to dig:

Their official ANN thread: - (https://bitcointalksearch.org/topic/bye-bye-bitcointalk-1691388)

Fairly recently Scam Accusations:

Tradesatoshi.com SCAM - (https://bitcointalksearch.org/topic/tradesatoshicom-scam-2890191)

Is TradeSatoshi Safe? Anyone Used It? - (https://bitcointalksearch.org/topic/is-tradesatoshi-safe-anyone-used-it-1997270)

I guess you really need some due diligence because engaging yourself in trading. Just try to invest few sats and see how it goes for you. Goodluck.

I haven't used this one but going through its reviews, you won't think that it is, although please note that there are still scam complaints/poor reviews like every other exchange.

Aside from bittrex, I'm still using those exchanges which has tons of scam complaints but only with small amounts and so far trades are smooth.
That said, I think you should be fine as long as you'll trade in small amounts as exchanges are flagging accounts with high amount of money.

Also, You can check a certain coin's status here: https://tradesatoshi.com/Status

I use tradesatoshi but this is not scam

Did you trade in Tradesatoshi? Is there any problem for withdrawals?