Review on Coinroom by Joseph Bello
ANOTHER EXIT SCAM
Today I will be talking about an online exchange, Coinroom is a Poland exchange that trade crypto currencies, I will be giving this exchange a one star rating because it is another ponzi scam. I had the intention of using the exchange but because of its feeble security and scam alerts I had a rethink about my decision. Using the exchange will exposes any user to all sort of security hacks and breaches this was a risk I wasn't ready to take and so I forgot about the
The exchange has shut down it service last year with a notice to all it traders to come and withdraw their funds within a day and from my findings i got to know that majority of the users couldn't get back their funds and the few who did were not given their complete funds.
The exchange is unregulated and so what else would one have expected from them ,users had no formal information about the exchange developer from it website, and by so doing they can't hold anyone responsible for their funds,this still remain one of the reasons why I don't buy the idea of trading on an unregulated exchange no matter how pleasing the exchange might due to the high risk involved.
Presently the exchange is closed but there are scam site defrauding traders who are not aware of the exchange closure of their funds so I advice and recommend other traders to trade carefully and also make use of reviews from trusted reviewing sites before using any exchange.
Pros
- None
Cons
- It is a ponzi scam
- They ran way with traders money
- It is an unregulated exchange, making it very possible for them to varnish with with fund and without any trace
- Poor security measure
