Bitcoiva is legitimate exchange?

[LucyFurr]

I came across this platform Bitcoiva from social media and when I visited their about us page and looks like a Chennai-based crypto exchange and is also operating in UAE. They claim that the biggest indian crypto exchange and supports INR deposits but I have been here for years and this is the first time I am hearing this name.

Also, when I checked their staking page, something looks shady.



AFAIK, 48% APY is too good to be true.

[TheUltraElite]

Are those staking programs?

I did a basic overview of the site and seems very close to what the scams in 2018-2020 used to be with similar looking pages and MLM like schemes all over them.

So better to move on from this one and stick to known exchanges. Never trust their office locations and all, they are all made up.

[pawanjain]

I came across this platform Bitcoiva from social media and when I visited their about us page and looks like a Chennai-based crypto exchange and is also operating in UAE. They claim that the biggest indian crypto exchange and supports INR deposits but I have been here for years and this is the first time I am hearing this name.

Also, when I checked their staking page, something looks shady.



AFAIK, 48% APY is too good to be true.

There are two reasons why I would stay away from this site seeing the screenshot alone.

1. 48% yield is very high and is very unrealistic and so its better to avoid this platformm
2. Why does it have 8 decimals for USDC ? Doesn't make any sense. If this is the development then better stay away from this platform.

[Bitcoin Smith]

Avoid Indian exchanges / End of discussion.

~
So better to move on from this one and stick to known exchanges. Never trust their office locations and all, they are all made up.

Interesting thing that they mentioned Chennai, because usually they operate from Bengaluru.

Maybe I could check if their location is real and see how the biggest Indian exchange went under the radar for years.

[LucyFurr]

Are those staking programs?

I did a basic overview of the site and seems very close to what the scams in 2018-2020 used to be with similar looking pages and MLM like schemes all over them.

So better to move on from this one and stick to known exchanges. Never trust their office locations and all, they are all made up.

This is what I thought as well after seeing those numbers, the legitimate staking platforms provide like 10% APY and it is only upto certain limits and the returns will be reduced on bigger amounts.

While here they got no limit and high returns, which proves that something is not adding up. I am just posting this in case if someone saw the same and though it could be true.

[JSRAW]

Sad to see that folks are doubting genuine scammers, looks like an innocent effort to dupe treacherous honest folks.

Telling you such doubts and negative narrative kills all the entrepreneur spirits and dreams. Atleast give them chance to rug pull, they might need money for life saving needs like lambo and hookers. 

[henmark]

To be honest, I've never heard about them until I read here. So I guess their marketing campaign is not doing enough job if they are a really good exchange. I would still not trust this exchange even if they are into operations since a year or two. I would still stick to my regular exchanges which provide stability.

Choosing any new exchange can be a challenge if we consider the past records of exchanges. Even some reputable exchanges don't work well for me like CoinDCX. There will always be some or other problem when it comes to newly launched exchanges so I would not take a risk and will stick to Kucoin or Binance only.

[LucyFurr]

Sad to see that folks are doubting genuine scammers, looks like an innocent effort to dupe treacherous honest folks.

Good one, bruh.

To be honest, I've never heard about them until I read here. So I guess their marketing campaign is not doing enough job if they are a really good exchange. I would still not trust this exchange even if they are into operations since a year or two. I would still stick to my regular exchanges which provide stability.

The only Indian exchange I ever considered as trusted was Wazirx but even that one proved me wrong but atleast they managed to refund to all their users in something instead of saying we can't do anything but I am not going to trust them again atleast for a year and they can keep on operating with no withdrawal issues.