This is a review of Kringles.Exchange, the upgraded version of The Billion Coin (TBC) Exchange.
We had exposed TBC as a scam on this blog.
This project was launched in 2016 to dupe a billion people in the guise to help them escape poverty.
Now, the founders have devised another means to scam people via its Kringles Exchange.
Keep reading to get the full gist.
Post Summary
- What Is Kringles.Exchange?
- How Does Kringles.Exchange Work?
- Why The Kringles.Exchange Is A Scam
- Conclusion
Click on any item above to read its details immediately.
1. What Is Kringles.Exchange?
Kringles.Exchange is the supposed TBC/BTC Exchange platform.
It was created to enable users to convert their Kringles or TBC to bitcoin and also buy TBC.
(Kringle is the smallest unit of TBC just like Satoshi is to Bitcoin).
I didn’t find any information on the exchange founders on the website.
However, Whois.com records that the website of the exchange was registered in 2018.
Also, the name Kringle is associated with the unknown founder of The Billion Coin – Kris Kringle.
According to the information on its website, Kringles Exchange was created for the existing TBC community and also to bring more people in.
Let’s see how it works in the next section.
2. How Does The Kringles.Exchange Work?
This exchange claims to enable the seamless exchange of TBC to bitcoin.
On the website, it is stated thus, We deliver Exchange in BTC in 24 hours.
Anyone intending to use the platform must first sign up and pay an activation fee.
You’re required to provide your bitcoin address to sign up.
Then, you’ll pay $25 worth of bitcoin to a given wallet address to activate your account.
Also, before users can exchange their TBC for BTC, they must pay an exchange fee, which is 10% of the coin they are to receive.
Note that this exchange fee is paid in Bitcoin.
The minimum amount that can be traded is 10,000 kringles and there is no maximum limit.
And discounts are given to traders with large amounts of TBC.
Furthermore, users are promised a 7% referral bonus when they invite people to the platform.
Now that we’ve seen how the exchange works, let me tell you why it is a scam.
Tag along!
3. Why The Kringles.Exchange Is A Scam
I have a list of reasons:
a. I didn’t find a founder for the exchange. So, when things go wrong, users will lose their funds and there’ll be nobody to hold accountable.
b. You must first pay an activation fee before you can use the exchange. Please, what are you activating?
It is obvious that these guys just want to milk people.
c. Apart from the activation fee, you’ll also pay an exchange fee in bitcoin into their bitcoin wallet address before you exchange your coins.
Excuse me? Why are we paying an exchange fee in Bitcoin? What happened to Kringles or TBC?
Asking users to pay BTC before they can convert TBC to BTC gives this exchange away as a scam.
d. There’s no guarantee that you’ll receive bitcoin in your wallet. I bet you will not.
An old user described his dilemma of funding his TBC wallet without being able to withdraw his funds in this video.
e. Furthermore, the video testimonials on the website were made by actors; even the women in the ‘how it works’ video and the images on the homepage. Looks like the team wants to lure folks with pretty women (LOL).
f. Moreover, I didn’t find any reviews on the exchange on public sites like Trustpilot. And SCAMADVISER identified some risks on the platform.
g. Again, apart from the website, it does not have any other channel where users stay updated. I found a LinkedIn account in the exchange’s name but it has only one post from 3 years ago.
h. Both Kringle and TBC are not listed on Coinmarketcap or any reputable exchanges.
They exist only in the TBC community. Oops!
Need I say more?
Kringles.Exchange is a broad daylight scam. And its one-page website does not beg to differ.
They claim that they want to help TBC holders convert their coins to Bitcoin but all they want to do is to take the users’ bitcoin.
Also, they want to recruit new members and even corporate organizations. Please, don’t fall victim.
You’ll spend money to get TBC and then spend BTC to convert TBC to BTC.
One more thing, don’t get carried away by the 7% referral bonus because you won’t be able to cash it out. Trust me!
TBC or Kringle is not useful to anyone. Don’t waste your money and your time.
If you need bitcoin, buy it from reputable exchanges like Binance, Quidax, Luno, Remitano, Kucoin, Huobi, etc.
And if you invested in TBC previously, accept my sympathy. But let it end there. Don’t lose your bitcoin to convert TBC to BTC.
And that’s on period!
Looking to learn how to trade?
4. Conclusion
This is where I draw the drapes in this post. I hope I didn’t waste your time.
Now, I’d love to hear from you;
Did you fall victim to the TBC scam?
And did you try converting TBC to BTC on the Kringles Exchange? How did it turn out?
Please tell me in the comments.
Also, share this post with a friend, you may be saving someone from making a bad decision. Thank you!
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