What better way to start the day than telling you guys about how I’ve been scammed…
Right from the beginning, I want to make this perfectly clear: if you were thinking about doing business with the Coinsquare.com bitcoin/cryptocurrency exchange, don’t. Just don’t. To explain how I’ve been scammed by Coinsquare and why Coinsquare should be avoided, I’ll simply present facts in a chronological manner:
- In 2017, during the huge bull market, I’ve signed up for a Coinsquare account (wish I knew back then that Coinsquare are scammers!) due to the fact that in Canada (they’re a Canadian exchange btw), there was a bitcoin price premium… in other words, you could sell bitcoin for more than the market price, just like in South Korea and Japan. Therefore, this premium represented a trading opportunity
- I’ve submitted all of the necessary documents in 2017 and they replied, telling me that due to Canadian laws, they cannot verify my account but that I am welcome to deposit, withdraw and trade cryptocurrencies. In other words, they told me I could withdraw, deposit and trade crypto but not fiat (so for example, I wasn’t allowed to fund my account through a wire transfer)… fair enough, so I deposited some bitcoin and traded a bit
- Fast forward to Monday, I get an email which states that everyone needs to get verified and that until I’m verified, my bitcoin cannot be withdrawn
- I once again submit all of the necessary documents and they reply telling me that nope, they can’t verify me
- I said ok, I’ll just withdraw my bitcoin but, guess what, it says “Action restricted” whenever I try to do it
Essentially, Coinsquare scammed me by stealing my bitcoin.
They explicitly said I could deposit/withdraw/trade cryptocurrencies in 2017 but as of Monday, they were like “Yeah… we’re not going to allow this anymore and you can’t withdraw your bitcoin either. Ha!”… ladies and gentlemen, this is how Coinsquare scams you.
Let’s say Coinsquare scams 10,000 people out of a total of 5,000 bitcoins this way. They most likely assume most people won’t sue them and bam, they’ve just gotten away with stealing a fortune.
We can’t have that!
Believe me, Coinsquare will be exposed for the scam it is and there will be consequences. Waaaaaay too many people think you can just get away with anything in the frequently shady world of crypto but I promise that as of this point, I will make it one of my top goals to expose Coinsquare for the scammers they are.
This post will end up ranking on Google most likely and therefore, I hope I can help people stay away from Coinsquare.
If you’ve landed here by searching for keywords such as “coinsquare”, “coinsquare exchange” or something along those lines, please listen to this warning. Understand that Coinsquare are scammers and stay far, far away from them. There are plenty of legitimate exchanges to choose from, so just say no to Coinsquare. You’re welcome!
Contact me at andrei@oneminuteeconomics.com if you’ve been scammed by Coinsquare as well and have information to share. Your anonymity will be respected and I’ll do my best to use the information you’ll be providing to make sure the Coinsquare scam exchange doesn’t get away with whatever it is they’ve done to you unpunished!
