Coinsbit 200 dollar airdrop, too good to be true? – Bitcoin – News 2020

Coinsbit, an exchange based in Estonia, has been much talked about in recent weeks.

The reason: the platform promises $ 200 from its internal tokens, in the form of an airdrop, to all users who will be registered and validated on the site, by the end of December.

Add to that a generous multi-level affiliate program (those who read me occasionally know how much I love it). Sprinkle a thick layer of dithyrambic press releases (necessarily) in the crypto and financial press, and the opportunity seems essential to seize!

Maybe a little too much? Indeed, in addition to the surprisingly large amount of this airdrop (which must be financed somewhere), several small bells seem to ring in the distance as a warning. From the formal conditions of this offer which makes the eyes a little too bright, to the “amazing” personality of the businessman behind the project, we take stock.

The promise

The exchange Coinbits has been in the middle of a promotional campaign in recent months.

Indeed, to guarantee the success of the launch of its internal token (the CNB, a Binance Coin-like), the platform launched an impressive program airdrop several thousand CNBs for each participant, with a program affiliate attractive: each user is assumed to be eligible for a 200 dollar token airdropor more in case of multiple sponsorships – end of December, on the condition of being registered on the exchange. The other point of view ? Successfully pass the KYC and be validated by the platform.

The red flags waved by CoinsBit

Besides that we will remind for the new kids that magic money doesn’t exist and that no loving fairy will spontaneously distribute you several hundred dollars for your beautiful eyes, one could object, that after all, an important exchange could organize a particularly sexy airdrop to ensure a buzz of all the devils and a launch direct “To the moon”.

However, it is urgent to keep your cool and take a look under the carpet.

Age and credibility of the official site

The opinion of the ScamAdvisor site is not too worrying: if with a seniority of 18 months the site seems a bit young in the eyes of this real scam radar (which should be present in your favorites), the presence of valid SSL certificates and a ranking Alexa advantageous (12,211th place worldwide, excellent performance) offers a rather positive panorama.

We can touch on the obvious anonymity of the whole, but after all, we are in the middle of crypto, right?

ScamAdvisor review, good, not so good

A team with absent subscribers

You can return the official site in all directions, no way to find the slightest face, the slightest identity associated with the exchange (or the company behind). Nothing at all in the “About us” category.

Funny for a company that asks you to send them your identity document with force “To comply with KYC / AML standards“).

Let’s be clear: anonymity in the crypto industry is a valuable concept – even founder – but let’s get on even better: when things start to spin with Binance, everyone is very happy to know where CZ lives.

CNB token autopsy

Here is the address of the CNB token, a token Ethereum to standard ERC-20. It’s not infamous: the BNB of Binance he himself stayed there for a long time before migrating to his own mainnet. Essentially, we will retain a total supply of 1.5 billion CNB.

Of this quantity, only 100 million CNB tokens will be reserved for IEO from December 20 to 23 next. Remember that the token sale price will be 0.10 dollars. The rest will be used to fuel the generous airdrop and sponsorship operations (1.4 billion tokens, or 14 times the amount of tokens offered for sale).

Pub

Put differently, the IEO hard cap once reached could yield $ 10 million in exchange (well, but not crazy either), while CoinsBit distribute the equivalent of … $ 140 million in CNB for free.

If you’ve followed the crypto ecosystem a bit over the past few years and have 2-3 notions of ” tokenomic “, This distribution should leave you doubtful, or even force yourself to restrain a nervous laugh.

We will thus have an emotional thought for all the buyers of the CNB token who will cross their little fingers very hard so that those who will have free tokens – in number 15 times higher thereforeALL decide to hold them, rather than converting them on the day of their payment into Bitcoin or other (generating an interesting effect on the value of the CNB).

So either Coinbit lets it happen and the happy owners who have acquired tokens will live a painful New Year or, more likely the airdrop will be matched – all of a sudden – funny constraints (freeze for a certain period, tokens that can only be used to pay trade costs, etc.). But all that nobody is telling you right now my little rabbits.

A little tour on Bitcointalk

If the source is not foolproof (none is, only counts the overlap and what is called in matters of judicial investigation “The beam of presumptions”, it was the minute Les Experts), it is never useless to go for a walk on THE forum of the crypto community: Bitcointalk.

Finding the topic on CoinsBit takes a moment. And there, the atmosphere is not the same.

Red, except for Ferrari, is always a bad sign

The mentions which you see appearing in red come from members of the forum, some particularly recognized (those which appear under “ Trusted FeedBack “). In summary, the CoinsBit exchange is accused of several things:

  • artificially generate buzz using fake accounts on the forum and social networks. Well, it’s not jojo but it’s so common that it still works,
  • Most important, Coinsbit and p2pb2b would belong to the same person: Ukrainian Valerii Solodovnyk

The fact that the latter is behind the 2 exchanges emerges from investigations carried out according to the various accusations that notably surrounded the exchange p2ppb2b, which has been triggering quite a few alarms in recent months (source 1, source 2).

To be a little more complete, Bitcointalk also echoes accusations around the fact that CoinsBit would actually be a good big Ponzi scheme.

Was thus presented a yield offer (removed from the site since) to say the least amazing: 3.5% interest … per week!

Yes but no

The phantom CEO

We could also talk about the particular profile of Valerii Solodovnyk, whose Linkedin profile you will find here and which is presented as the gray eminence behind the two exchanges.

357 relationships and a very austere professional presentation, not frankly in line with the assumed scope of the person concerned (note the Partida Services logo identical to that of b2bp2p)

We could also talk about transaction volumes (both CoinsBit and p2ppb2b), properly unrealistic which CoinMarketCap echoes, and a whole series of other annoying little things. However, I will stop there for the time being. Indeed, the purpose of this article is elsewhere: demonstrating that an offer that is too attractive must necessarily encourage you to exercise extra caution!

Remember that in exchange for a hypothetical gain, you will be asked to communicate to a very nebulous company a lot of personal information, as well as copies of sensitive documents. Make this choice in an informed manner.

Coinsbit 200 dollar airdrop, too good to be true? – Bitcoin – News 2020
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