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HiRiBi Review - is it scam or safe?

HiRiBi - is hiribi.com scam or good cryptocurrency exchange?

RATING: 2 / 2 REVIEWS HiRiBi
HiRiBi is not regulated. We cannot guarantee your money is safe.

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Trading accounts and conditions

 

Account type Leverage Fees
Standard 1:1 N/A

 

HiRiBi is a P2P cryptocurrency exchange that offers buying and selling Bitcoin, Ether, Dash, Ripple, Ether Classic, Litecoin, DogeCoin and XEM for fiat currencies (USD), through PayPal. However, it seems that currently only the option to sell one’s cryptocurrencies to HiRiBi is available.


HiRiBi is based in London. It has been in business since January 2017, and according to its own website, has nearly 16 000 client accounts, 23 000 successful transactions and a turnover of almost USD 2 million.


HiRiBi advantages


- Easy fiat payment options. The main advantage of HiRiBi are the fiat payment options. In fact it is just one – PayPal, but it can hardly get more convenient than this. Besides, HiRiBi says the transactions to and from PayPal do not suggest in any way they are connected to cryptocurrencies, as PayPal has policies against supporting such transactions.


- Favorable trading fees. The situation with HiRiBi’s trading fees is somewhat unclear. We could not find the exact percentage, but it is a fact that the exchange has a very favorable buy price. At the time of writing of this review, the rate was the following:

 



- Favorable transfer fees. The exchange says PayPal charges 4%, but HiRiBi says it covers 5%, so the client can get “the exact amount”, which is actually quite nice.


- “Rate fluctuation feature”. HiRiBi says it offers a client protection against rate fluctuation. This means that if the rate has gone up after the client has made the sell order, the exchange will pay the higher prices. It works in a similar with a lower price – if it goes down after the placing of the sell order, HiRiBi will pay the higher price from the time of placing the order.


- No limits. HiRiBi has no minimum or maximum buy and sell limits.


- Anonymity. HiRiBi does not require its clients to provide ID documents or to create accounts, so they can remain more or less anonymous.


- Good speed. HiRiBi requires three confirmations on the blockchain in order to process the transaction. This is relatively fast, unless the network is under high load.



HiRiBi disadvantages


- Potential PayPal problems. As we have mentioned, PayPal has policies against using its services for cryptocurrency transactions. We have come across user posts on HiRiBi’s Facebook page claiming that they have problems with PayPal. One, for example, has had chargeback claims, which have been refunded by HiRiBi. Another user has had her PayPal account disabled for 180 days because she was using it for receiving payments for her sold BTC. It is not HiRiBi’s fault, but potential PayPal issues must be kept in mind.


PayPal bots can automatically limit a client’s account, if they detect some unusual activity, no matter what the user is doing. So this must be kept in mind, even though PayPal is a convenient payment method.


>> See crypto exchanges accepting credit cards <<

 

 

- No buy option. Even though HiRiBi says users can both buy and sell cryptocurrencies, right now only the sell option is available.


- Strange English. This has no relation to the services of HiRiBi, but there are some quite odd errors, such as “aloud”, instead of “allow” or “allowed”. This can lead to confusion.


Conclusion


HiRiBi offers a simple and straightforward service, with a very easy to use platform where one can sell their coins for USD. We particularly like the prices and the favorable conditions offered by the exchange and the convenient payment option with PayPal.


On the other hand, however, PayPal is the sole payment option. This, in addition to being quite limiting, can be very frustrating, if PayPal, for whatever reason, freezes the client’s account.

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Traders` reviews for HiRiBi

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Price feed

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Summary

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HIRIBI scam

Hiribi is a scam. Admin never responds to messages. Once my paypal got limited, my unpaid transactions were never refunded, for two months now. Reallo annoying traders. AVOID

wanjuku 01/03/2019

Fraud and Cheater

Hiribi is a fraud and scam exchange they have kept my 35 Ripples, the amount is not so big but more than 10 days they are showing only 1 confirmation, not returning my amount and also their support is not responding which is ridiculous. So don't do any kind of transaction with this exchange otherwise you will loose your money.

Rajesh Jamwal 05/01/2018
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