Review on Trade Satoshi by Jeff Ayuba
The exchange still scammed some of its users
Even with the announcement of the Trade Satoshi exchange closing it's services, they were focused on still scamming as many people as they could possibly do. The exchange gave a notification that it wanted to close every trading activities and it's services as a whole due to some reasons. They also gave a notification to the users of its exchange to withdraw their funds before a stipulated allocated time but it turns out that they were never committed to fulfilling it's commitment to ensuring every user got their funds out safely. I have seen the instance whereby a user couldn't take out his BTC and which the exchange mandated a KYC which couldn't be fulfilled in the small amount of time left. The story of this exchange methodology in scamming the users really weakens me and makes me to think carefully on every exchange I use so as not to fall victim of such one day.
Pros
- The exchange is a true scam
Cons
- The exchange was committed to scamming a small number of its users by implementing a KYC procedure that was never existent on the platform
- Some users couldn't get their funds out of the exchange in record time due to the policies the exchange set at the nick of time
