Topic: Wall of coins? Scam Site? (Read 2949 times)

If you believe it as a false accusation write the thread scam accusation against the users who filed the fake review with the proper evidence and information you have.
Kindly stay safe by unwantedly sharing the information which is not true or incorrect.
I am not here to justify you but you need to confirm it different thread in correct board, not in the dead thread.

I realize this is an old thread but this comes up early in any search for "wall of coins review" along with other reviews claiming WOC is scammy. I would like to add my 2c for the record.

I only got involved in bitcoin this year and my only association with WOC is as a satisfied customer. I feel the need to defend them against all the, I feel false, accusations. I have had several transactions with them go well and am satisfied with their service. I have been buying smallish (100-300 USD) amounts of BTC and Dash once or twice a month. One snag I ran into was that when depositing to a Wells Fargo, Chase or BoA personal account you must do so as a money order and not cash (I like USPS MO's as they are cheap and PO's are everywhere) and have had trouble dealing with stupid/know-nothing tellers (here's looking at you Wells!), though every deposit did go through. This fact however is nowhere mentioned on the WOC website and I only found out about it by contacting customer support and canceling one transaction (no BTC received but nothing deposited so no "they took my money!" complaints). I find their customer service quite good to contact, though their website as shown above is a bit light on some important information to fully utilize their service. This issue is however not a problem with any other bank I am told.

Personally I have found the USPS Cash By Mail option the easiest. This is where you literally mail cash to the seller (and yes, for the record, it is perfectly legal to mail cash in the mail in the US). The cash must be sent with a tracking number (another thing they don't mention on the website), so only really Priority Mail (which is admittedly $7.20 these days) is an option and you must wait a few days for package to arrive before your BTC is released (at the exchange rate at the time you initiated the transaction). Though I have used WOC for this yet, this seems to be a good way to sell crypto as well; literally cash in the mail!

As for transaction verification: my understand from speaking to WOC CS is this is not strictly necessary but will expedite receiving your coins. They mention on their website the need to take two pictures, one with and one without writing on it, of your bank receipt as of my starting to do business with them (USPS CBM requires the tracker for transaction verification). Make sure to write EXACTLY what they want on the receipt.

As for ID verification: I have been told this only happens when a problem occurs. Having never had a problem transaction I have never had first-hand experience with this. One way to avoid is to buy only smaller amounts of crypto at a time like I do and not dump all your life savings into a single big buy. If anything goes wrong you lose less if you want to go by the "I'll never give up my ID!" approach (though a lot of LBC'ers want ID these days until you've had lots of verified transactions).

I have found WOC fairly easy to use (CS always comes through when there was a hickup *cough* (wells) *cough*) and has a greater selection of sellers than bisq or LBC (of which there is only one seller in my area; good guy, but a monopoly/monopsony nonetheless) and often with a lower markup than LBC. I like WOC, I have had a good experience with them so far and will do business with them again. I am sorry for all those who have lost money and not gotten BTC dealing with WOC but all the "its' a scam!"/horror stories I find not to be true for all, at least not for me. I hope my little review here will help anyone who finds this thread in future understand that WOC is not just a scam site or whatever.

Cheers mates.

This like newbies getting into trouble with some fake websites and reporting after on this forum. Keep in your mind. Whenever you want to use any unknown websites or any services, Kindly create a new thread and confirm about that legitity first.

If you get the review says good then you can access it else whether it is wall of coins or any shit. You need to avoid and take your money to some other place where you see legitimate.

I  just joined this forum because of a terrible experience the first time I tried to purchase Bitcoins thru Wall of Coins. As a newbie I tried several websites but chose WOC. I liked the way they described purchasing bitcoins as simple fast easy- you just go to the bank-deposit cash in sellers account-e-mail the receipt to WOC and within minutes you have your bitcoins. HA!    I did go and deposited the money(only $200.00 ) within the specified time. I got my receipt and went to the mail store where it was scanned and e-mailed. Got home and recd e-mail that they don't accept scans. I was told to takea picture of the receipt with my cellphone AND ONLY MY CELLPHONE and e-mail it.  I explained that the camera in my cellphone hadn't worked for several years-The guy kept telling me to take a picture with my cellphone I guess he didn't know that you can't take pictures if the camera doesn't work.  He helpfully suggested that I get a new phone. Then he suggested that I borrow a phone from a friend or relative. I was thrilled that purchasing bitcoins was going to involve travelling long distances. He wouldn't budge. As soon as they have your money you have to play by their incredibly stupid rules. For example you have to photo the receipt just as it is(with a cellphone only) then you have to write on the receipt exactly what they tell you to write ( I wrote To: Wall of coins and it was rejected because I forgot to write .com)  Then after writing some idiotic things on the receipt (for example you have to include the words "for refunds call 1-866-841-2646 (DO NOT FORGET THE 1)I suppose because they don't know their own phone #. I spent over an hour and a half at the mail store having the owner take pictures of the receipt and e-mail them. The store closed and the "support" guy still wasn't satisfied.  Oh well  so what if  I would have to go back the next day and spend another $10.00 on another LYFT round trip. Finally I had enough.  All I wanted was a refund so I could go somewhere (ANYWHERE) else for my bitcoins. Turns out if you want a refund you have to do everything exactly the same as if you still wanted the f******bitcoins. Ne edless to say that in the beginning they gave me 90 minutes to make the deposit but from then on they had all the time in the world. I made the deposit May 3rd and it is now the  17th and they are now finally "attempting" to get my refund from the seller. I thought I was going insane for a while until I found several forums where perfectly nice sane people had had even worse experiences than mine. I am writing this so maybe I can save  one person from a Wall of Coins nightmare. Oh and by the way one of the posters on this forum is "rgenito" who is probably Robert Genito-the founder and CEO of Genitrust and Wall of Coins.

Why use an unknown website to purchase crypto? Especially with so substantial amounts of money? I can't get the motivation behind this.

So is it a scam or not? Will we ever know...? Or maybe just a pseudo-scam, like also so many out there. Who knows

Is anybody up for class action?

They lost me much more than 2000 dollars. They are a scam. They also ask for all sort of IDs for transactions over 2000$. They are a scam. Stay away from them.

great info here. I have decided to try using them for a small amount. So far it has been an hour since I made my deposit. I'll update here with the outcome.

frowsiter, to be frank, it's also likely that this is simply brand tarnishing. Look at *every* company related to bitcoin, and you will find that there are all sorts of agents claiming that all bitcoin-related companies are scams. These agents will do anything to keep *you* and everyone else away from buying bitcoin. Heck, before, it was "bitcoin" itself that was a scam. Remember?

I am the project director for Wall of Coins, and I oversee and witness that we do take care of *everyone*. Wall of Coins is one of the most legitimate market places out there. The #1 goal is to be BOTH the easiest and quickest place to get coins INTO your exact possession and wallet. We are unmatched in this area

You can lock this thread if your problem was solved but next time just use one of the well known exchange platforms like bitstamp and coinbase. I have never heard of this wall of coins before.

It is really great to see that you have got your money .  But what about the other guy ? any info about him got his money ? I really hope he do .

take care next time

I would like to end this thread and inform everyone my order was fulfilled by this company. I am not going to use them again simply because they asked me for things I was lead to believe I would not have to provide to fulfill the transaction. It was also very big scare.

Honestly I do not think my order would have been fulfilled if another member on this forum had not contacted wall of coins for me. His clout must have helped

I think from now on I am going to BTMs and face to face for cash transactions, maybe try local bit coins.

Thanks for the replies everyone. Clearly I made a big mistake. Lesson learned. Unfortunately it does not look like there is any recourse for me.

According to the secretary of states website in florida genitrust has filed annually since the company was founded by robert genito. I am not sure if this is a sign of a credible firm or not but I can only keep my fingers crossed.

Doing research is a great way to find things out, but following through and getting the correct information is another real net trick.  We do not do business that will send up red flags, like buying $2500 in Bitcoin as a first transaction. Many people are creating scam sites just to get bitcoins from innocent people.

We have bought from them on and off because their site was the only one that would load on one of our smartphones in the location that we had a small sub-office set up.  They were fine and John was the one dev/bus that left Cryptsy 8 weeks before the funds transfer that started the investigations. 

You most likely have lost your money. I have never heard of this site prior to this issue raised by you and I've been involved in crypto for at least 4 years now. Site looks good but design can't be trusted. Sorry but you shouldn't have trusted some random entity over the Internet eith so much cash.

Use localbitcoins next time, you are protected by their in built escrow and you are dealing with other people. Launch a scam accusation if their support does not respond so that others know that this is a scam as well.

hummm , i believe this is a scam site and you loose all you money. This HYIP sites are a big risk and if you buy any services  ...  use  only small amounts .

https://www.scamguard.com/wallofcoinscom/

They would thank you for free money. I think this is High yield investment program(HYIP). Don't expect too much that they will give back the btc you send to them because the chances are 0%. You can cry if you want. But you can't get your btc back. Make a better research first before jumping into investments. Or better avoid all HYIP. Btc is very expensive these days. You can't just entrust it to anyone.

I don't know what are you thinking for trusting them for such a huge money and why the fuck came to your mind to used them while theirs coinbase where we can trust the most if we want to buy some bitcoins and look what happen now you have been compromised, This should be a best lesson so that people might gonna learn for this and next time same as you they could try to deal with legal sites outhere.