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Coinbe Review - is it scam or safe?

Coinbe Review - is coinbe.net scam or good crypto-exchange?

RATING: 2.3 / 22 REVIEWS Coinbe

RECOMMENDED BITCOIN BROKERS


 

Trading Accounts and Conditions

 

Account type

Deposit fee*

Trading fee

Withdrawal fee

Standard

1.8% -1.9%

0.1% - 0.3%**

2 PLN / 0.0005 BTC

 

* Only for Dotpay.pl & Homepay.pl.

** Trading fees depend on the monthly trading volume. Withdrawal fees also apply (0.0005 BTC).

 

Coinbe (formally Beatcoin) is a Polish exchange that generally offers offers both fiat-to-crypto and crypto-to-crypto trading. Unfortunately, its fiat operations are temporarily suspended due to regulation issues.

 

 

Coinbe Advantages

 

Fiat currencies generally supported, several payment methods accepted

Generally, Coinbe supports several “traditional” currencies: PLN, USD and EUR. Working with fiat currencies is an advantage as it allows investors buy Bitcoin directly with cash (or cash out their coins), using convenient payment methods such as bank wire transfer. Coinbe supports bank wire payments, as well as Dotpay, Homepay, and of course, blockchain transfers.

 

Unfortunately, as we said in the beginning, fiat services at Coinbe are temporarily suspended.

 

Many coins available for trade

Coinbe has listed many altcoins, including Ethereum, Ripple, Litecoin, Dogecoin, EOS, Dash, Bitcoin Cash, NEM, Monero, Lisk, Waves and others. Although its cryptocurreny portfolio is not as extensive as those of, say, Binance, it is quite solid for a rather small local exchange.

 

Besides, wallet service is also available at Coinbe.

 

Security

Coinbe claims that it keeps all funds in cold wallets. These wallets tend to be more secure since private keys are stored offline and are less vulnerable to hacks.

 

Coinbe Disadvantages

 

Relatively high fees

The trading fees at Coinbe are higher than what we are used to seeing at other exchanges. Those who don’t trade in large volumes are charged with 0.3% per trade, while many exchanges charge 0.1% - 0.2%. For example, trading fees at major Polish exchange EasyCoin have a maximum of 0.16%.

 

Besides, Coinbe charges deposit & withdrawal fees, and has set minimum withdrawal amounts (see the table in the beginning).

 

Trading only against BTC (currently)

As trading in fiat currencies is temporarily suspended, PLN Markets on Coinbe’s platform are not open and one can only trade the listed cryptocurrencies against Bitcoin.

 

Focus on Poland

Obviously, Coinbe targers mainly local investors, as its website and platform are available only in Polish. Most exchanges are more globally oriented.

 

Margin trading not available

Coinbe does not offer leveraged trading, which is not unusual for a crypto exchange. Perhaps most exchanges do not provide leverage as cryptocurrencies tend to be much more volatile than the established traditional ones. If you need some leverage, Polish exchange BitMarket offers ratios of 1:4. Forex brokers are also an alternative, as many of them offer trading in Bitcoin CFDs with even higher leverage levels.

 

>> Brokers offering margin Bitcoin trading <<

 

No anonymous trading

ID verification is required at Coinbe, which means that its clients are not able to trade anonymously, which was one of the initial ideas of Bitcoin.

 

Trading platform too basic, no mobile apps

Coinbe’s trading platform is web-based and easy to use, but lacks any advanced features. Its charting is very basic, there are no technical analysis tools, nor mobile apps.

 

 

Conclusion

 

A Polish crypto-exchange, Coinbe offers trading in quite a lot cryptocurrencies. It seems to target mainly local novice crypto traders, as its platform is very simple and generally it works with fiat currencies. However, the latter service is temporarily suspended, after in mid-February, 2018, the Polish Financial Supervision Authority (KNF) issued warnings against two major Polish cryptocurrency exchanges. These are BitBay and Abucoins, and KNF said that they don’t have licenses for providing payment services and/or issuing electronic money.

 

In Poland, as in most countries, there is no specific legislation regulating cryptocurrency exchanges, but apparently they fall under the Payment Services legislation. The company operating the Coinbe exchange, Beatcoin.pl Sp. z o. o., is registered in Poland, but is also not regulated. If you wish to trade Bitcoin and other altcoins with a regulated company instead, check out a list of forex brokers that are duly licensed by the respective financial watchdogs.

 

>> Licensed forex brokers offering Bitcoin<<

 

Pros

Cons

Fiat currencies generally supported

Relatively high fees

Several payment methods accepted

Trading only against BTC (currently)

Many coins available for trade, wallets

Focus on Poland

Security

No leverage available

 

No anonymous trading

 

Trading platform too basic, no mobile apps

 

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Traders` reviews for Coinbe

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Slippage

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Requotes

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Price feed

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Platform

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Summary

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Problems Coinbe.net

Has anyone had any answers about Coinbe withdrawals? Can someone withdraw their funds?

RobertOliveros 04/23/2019

Still waiting

Been 4 days since I withdrew my BTC. Followed all steps and still nothing.

Not sure how this exchange continues to operate. Seems like a total scam. Unfortunately, a bit of an expensive lesson

Robert

Robert 04/14/2019

Format incorrect

Thanks Michael. I followed your steps. I got the following message

" Thank you for submitting the verification form. Your application is awaiting acceptance "

Did you get the same?

Robert 04/10/2019

Figured out their pattern

To get past the "TOKEN field has an incorrect format", you have to:
1. Generate the confirmation code by clicking the "Generate Email Confirmation" link.
2. Open your email and get your code.
3. Put in your 'TO' Wallet Address.
4. Put in your amount to transfer.
5. Put your CODE you got in your email in the 'Safety E-mail Confirmation'.
6. Click 'Withdraw'

Michael 04/08/2019

Format incorrect

Keep getting this error message " Format incorrect". Have reviewed this and can not find the problem. Now reading this forum, it looks like this is a shady exchange.

I too transferred some KBC to this exchange to take advantage of best selling price for a few coins as a test. Now unable to withdraw like most.

Hopefully, Karatbars will help in recovering lost coins/funds.

Robert 04/02/2019

Como recuperar la inversión?

Donde podemos denunciar los hechos?
No existe una plataforma de quejas o denuncias para este tipo de estafas?

Translated by Google:

How to recover the investment?
Where can we report the facts?
There is no complaints or complaints platform for this type of scams?

Jose 03/27/2019

Why no Public Outrage Targeted IP addresses

Why isn't there an uproar across the entire crypto space ? Is it because they are targeting specific IP addresses (US based) and with others it's business as usual? With the volume they are doing I had ahard time finding this page of reviews. I gifted my son 10k KBC coins and had about 9K personally tried to exchange and withdraw ETH on 3/15/19 it's still listed as pending . We are all English speaking ???

Lloyd Jones 03/26/2019

нужна помощь

я жду свои монеты уже 4 месяца.
они отправили в декабре последний раз и с тех пор ни один вывод монет не был одобрен.
нам всем нужно подать коллективную жалобу

Translated by Google:

I have been waiting for my coins for 4 months.
They sent in December for the last time and since then not a single coin withdrawal has been approved.
We all need to file a collective complaint

Марина 03/26/2019

Is Coinbe locked?

Estoy en la misma situación.
No puedo hacer nada en ese exchage.
No quiero ni pensar que lo he perdido todo porque
Me da algo. Alguien tiene más información?

Translated by Google:

I'm in the same situation.
I can not do anything in that exchage.
I do not even want to think that I lost everything because
It gives me something. Does anyone have more information?

Jose 03/26/2019

Non receipt of 4.99 ETH withdrawal

My withdrawal of 4.99 ETH is still pending and never recieved all mails written are not responded to
what is happening?

Yakubu Irmiya 03/24/2019

Unable to make any withdrawal

Good day

I know that Coinbe.net is not in Karatbars control, but KBC was listed at coinbe.net being a trusted exchange and KBC is the only reason why I joined Coinbe.net

I wanted to make an investment and purchase KBC at Coinbe.net, but we as KBC investors are experiencing serious issues with Coinbe.net

I have deposited a large sum ETH to Coinbe.net today and discovered that I'm not able to withdraw any crypto coins from that exchange? I did Exchange my ETH to KBC, but unable to withdraw by any means.

People are complaining about Coinbe.net being a trusted exchange by Karatbars. I have been with Karatbars for a long time now and feel that Karatbars need to investigate why Coinbe.net is scamming us.

I fully respect and agree with the comments at Forexbrokerz and as a current Karatbars / KBC holder, I feel that Karatbars need to retrieve our KBC coins from Coinbe.net

Please help us Karatbars

Regards

Giddy 03/23/2019

This exchange sucks

I have been waiting since 2-21-2019 for a very valuable KBC withdrawal with no luck and zero response to 4 emails sent. This exchange SUCKS!
They also WILL NOT let anyone withdrawal BTC directly claiming there have been issues with that function for months now. Although depositing BTC is no issue. WTF??

ken martin 03/20/2019

Coinbe SCAM/LIARS

Today is march 15th 2019. Since the end of dezember 2018 no single withdraws are payed out from that exchange. but they take new deposits, so I warn you to deposit any money or coin on this exchange! You won't see it again!

There were multiple statements, promises and announcements of CEO Dario Fryc in the coinbe telegram group for 7 weeks now, but every single one failed. Now there is silence, Dario isn't online anymore. This is the worst crypto exchange I've seen in my 6 year experience!

Tom 03/15/2019

scam - withdrawal pending

my withdraw eth pending no reason no reply email

miftahudin achmad 02/23/2019

No way to withdraw

This place is not serious, not professional. They are thieves, no way to withdraw your coins, never use this lame exchange.

Fabian Moses 02/12/2019

Coinbe is a Scam!

Funds In; No Funds Out!
NO SUPPORT; EMAILS IGNORED!
You cannot withdraw your coins!
You WILL lose your coins!
DO NOT USE COINBE!!!!

Garth Wilson 02/08/2019

What’s happening with my withdrawal?

Trying to get BTC out, still says “Processing “ after 24 hrs, reading the comments below I don’t think this might happen now. When I asked a question about my account through the “contact” tab, I got a reply within 20 mins.
But now I have asked about my withdrawal and after 24hrs still no reply.
Please, please do not allow your altcoins to be on this exchange if you are a new project, it will only hurt your brand.

Brian Murray 02/02/2019

Coinbe.net scam - i can not withdraw

I have deposit my coin to coinbe.net and i withdraw to BTC. But they have not process my withdraw transaction. I have try to contact to company, but contact link have no permission to contact. I try contact to coinbe page in facebook and try to send message, but they block my facebook. After 10 day, i can not withdraw my BTC. I see coinbe.net are scam now.

Doan Si Tuan 01/27/2019

100% Scam

You loose your funds in the moment you deposit them. When you try to withdraw them, they find excuse to block them. Go to other Excahnge!

Frank Tzegh 01/11/2019

Crap! What happened!

REALLY hard to figure out how to get my coins out! Codes are not working or they're not the right ones. Bummer. Glad it's a hundred bucks and not a thousand. If I can get out of here I won't be back.

Al 12/16/2018

Coinbe Withdraw funds

Very difficult to withdraw funds and easy to deposit funds I feel my funds are trapped on the exchange

Ken Thomas 09/21/2018

Scam exchange

When you try to withdraw your coins disappear

Achan Kenji 08/12/2018
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