Coin Tribe is supposed to be a cryptocurrency exchange that allows you to purchase cryptos using your credit card.
The exchange is allegedly very big with more than a million users and its members allegedly make millions of dollars in monthly profits. But it is not true…
Coin Tribe scam
We just needed a quick look at the Coin Tribe web page to see that it is a scam.
We have been watching the crypto space closely and an exchange with more than a million users and more than ten thousand bitcoins sold per month would be one of the biggest. And we would certainly have heard about it. But we haven’t.
It’s nowhere to be found, monitoring services like Coinmarketcap don’t know it, which means that all the numbers shown by Coin Tribe are totally made up.
Another proof: Coin Tribe has been around for two months only, and during such a brief period of time you can’t get more than one million users.
One intriguing thing is the claim that Coin Tribe members make millions in profits per month. This suggests that Coin Tribe might be providing some kind of trading robot, but we cannot verify it, since the sign up process doesn’t work.
If it is the case, it is another reason to stay away from it, because all the free trading robots we have seen offered this way were scams.
How to see if a robot is scam? Most of the times they will say the robot is free, but you will have to deposit money with a certain broker to activate the software.
The scheme behind it is pretty simple, scammers get paid by those unscrupulous brokers for sending them new clients who will lose their money.
Coin Tribe is a scam, it certainly is not a big and profitable exchange like it claims. Stay away from it!
If you want to try to make money in crypto trading, start by practicing on a free demo account with a regulated broker.
Trade with real money only when you have managed to build a profitable strategy and understand all the risks.