In my opinion "YES" they are doing sort of scam. Now you'll ask why???? So let's find out.
Here is what I have been doing in past couple of weeks. Your experience may vary from mine, so just let me explain and you decide whether they are scamming or not.
Initially when I heard about 'BitCoin' in the social media and Youtube, then I thought to give it a try.
Since I wasn't well aware of all those things so initially thought to purchase for some amount of 5 thousands. bought 3 thousands of bits in Zebpay and 2 thousands in Unocoin.
I bought coins when market was crashed from first boom and price was around 1.59K INR. When bought coins market again crashed to 1.3K so sold the bits immediately with some loss, and again bought at 1.4K. And so on after few weeks learned something about these markets.
Saw market booming so kept on buying and in total bought around .5 BitCoins.
So lets come to the Point of these service providers.
First off all they charged me for adding amount to their wallet. around 1000 for 50K of deposit.
So when I added money they included charge in the transaction itself like 50000 + 967=50967, Then again they charged me for buying the coins for 50K. Please see below screen shots
1. Charge for adding on Zebpay.
2. Charge for Buying Bitcoins
3. Charge for Selling Bitcoins
4. Charge for Depositing to the Bank - Though charges on Zebpay is (10 Rs per transaction) less compared to Unocoin ( Unocoin charges percentage of your total amount and it's huge amount if amount of deposit is big). They will charge so swiftly that you'll not notice that they are charging you for everything to do.
Biggest of scam they do when Bitcoin price uptrend's- Spread(Buy and Sell Price) is so big/high that they are sometimes more than 20 thousands. Actually they are making sure that you don't get to Earn single penny until prices is really really high like 50-70 thousands.
Here is example, though this is slightly less which I have mentioned but trust me these guys are really cheaters.
Also I got chance to deposit back to bank on Unocoin of those 2K Rupee. they charged me around 35 or may be 37 rupee and they have charged in such that there is no proof that I have withdrawn 2k it shows 1934 INR. But it took 24 hours to get it back to bank.
So from dates above you can see withdrawn date 18th July and credit date 19th July.
Since we Indians didn't have much options than Zebpay, Unocoin and Coinsecure.
But now we are going to have few more options soon, one of which is BitBay. Please note I am not promoting Bitbay.
Final thought - I am not saying that those service providers shouldn't make money out of investors money, Buy they should allow us to earn at least. If they don't allow us to make money then how can we as investor have faith and trust in their services.
For New/Old investors - Don't get discouraged with some of the negative thoughts, though they are charging heavily and having huge buy/sell difference. But if you invest wisely then you can make real quick money, unfortunately I am not able to gain any profit till now due this price crashes and huge buy and sell reasons.
Please leave comments below for any query, you can follow me on Facebook and Twitter using these links Facebook/Twitter .
Here is what I have been doing in past couple of weeks. Your experience may vary from mine, so just let me explain and you decide whether they are scamming or not.
Initially when I heard about 'BitCoin' in the social media and Youtube, then I thought to give it a try.
Since I wasn't well aware of all those things so initially thought to purchase for some amount of 5 thousands. bought 3 thousands of bits in Zebpay and 2 thousands in Unocoin.
I bought coins when market was crashed from first boom and price was around 1.59K INR. When bought coins market again crashed to 1.3K so sold the bits immediately with some loss, and again bought at 1.4K. And so on after few weeks learned something about these markets.
Saw market booming so kept on buying and in total bought around .5 BitCoins.
So lets come to the Point of these service providers.
First off all they charged me for adding amount to their wallet. around 1000 for 50K of deposit.
So when I added money they included charge in the transaction itself like 50000 + 967=50967, Then again they charged me for buying the coins for 50K. Please see below screen shots
1. Charge for adding on Zebpay.
Biggest of scam they do when Bitcoin price uptrend's- Spread(Buy and Sell Price) is so big/high that they are sometimes more than 20 thousands. Actually they are making sure that you don't get to Earn single penny until prices is really really high like 50-70 thousands.
Here is example, though this is slightly less which I have mentioned but trust me these guys are really cheaters.
Also I got chance to deposit back to bank on Unocoin of those 2K Rupee. they charged me around 35 or may be 37 rupee and they have charged in such that there is no proof that I have withdrawn 2k it shows 1934 INR. But it took 24 hours to get it back to bank.
So from dates above you can see withdrawn date 18th July and credit date 19th July.
Since we Indians didn't have much options than Zebpay, Unocoin and Coinsecure.
But now we are going to have few more options soon, one of which is BitBay. Please note I am not promoting Bitbay.
Final thought - I am not saying that those service providers shouldn't make money out of investors money, Buy they should allow us to earn at least. If they don't allow us to make money then how can we as investor have faith and trust in their services.
For New/Old investors - Don't get discouraged with some of the negative thoughts, though they are charging heavily and having huge buy/sell difference. But if you invest wisely then you can make real quick money, unfortunately I am not able to gain any profit till now due this price crashes and huge buy and sell reasons.
Please leave comments below for any query, you can follow me on Facebook and Twitter using these links Facebook/Twitter .
No comments:
Post a Comment