There are thousands of sites that offer exchange services even though there is no evidence that they actually deliver on their promises. This is why it is essential that any exchange that you send your trading or investment fund to must be certified to be authentic. We are going to look at Homiebitc, one one of the many exchanges that claim they serve the crypto industry.
What is Homiebitc?
This is a site that claims that they offer a crypto and blockchain solution to customers. However, signing up takes you to a portal that is pseudo-gaming and a prompt to make a deposit. A minimum of $200 is required to start gaming or exchanging your funds as the case may be. Moreover, the platform is all about description of the top digital assets without stating exactly what services they render despite the claims of being an exchange.
The platform was founded in 2017 according to information on the About Us page. It stated that it was a cloudmining service that was suspended in 2018. It further stated that the company obtained a license from FinCEN with MSB status. This supposedly enabled it to launch its buy/sell service for cryptocurrencies.
What is The Reality of HomieBitc?
What we observed is that this is a thin site that made claims that are unsubstantiated. For instance, there is no evidence that this is an exchange where you can have your digital currencies safely converted one to another. It did not refer the user to any document that can be verified to show that it is an authentic company that is operating a licensed business. Rather what you find on the site are assertions that are unproven.
No Links To Authenticate Claims
You will notice that the site claims that it is registered with the UK-based ICO and went further to encourage the visitors to the site to “get acquainted with all their licenses and certificates that prove the legality of their operations ” Nevertheless, this is not the situation on ground as there are no links where such verification could be done.
Chat Box Scam?
There is a prominent forum-like chat box which the operator of the scheme uses to lure users with the intention to encourage them to make deposits. It is obvious that the owner or operator of this scheme is behind the chats, as they are aware when the user clicks on the deposit link and tries to make a deposit. If you raise issues about the possibility that this is a scam exchange on the chat, there are quick responses to dispel your fears in the quest of the owner to make sure that you make a deposit. What do you think would happen if they succeed in convincing you to make the deposit?
A Four Exchange Scam
It is inconceivable that an exchange could support only four cryptocurrencies. This is what is obtainable with HomieBitc. Considering that it claims to have been in operation since 2017, this is one of the issues that raises suspicion about the operations of this site despite the fact that there is no evidence that it actually runs an exchange. Furthermore, what we have seen is that there are many sites like this that combine gaming with exchange with the hope of getting many users who are interested in any of the services to make deposits. What is obvious is that there are no exchanges that concurrently run gambling services on the same site.
In any case, why should you be interested in using an exchange where there are only four coins to be swapped? It sure has nothing to offer except the phantom promises of gains.
HomieBitc is obviously another scam that you would do well to avoid. There are many legitimate exchanges and gambling services out there that you can use. Why risk your cryptocurrencies where the possibility of losing them is high such as at HomieBitc?