Is Furcoins anonymous Bitcoin exchange a hoax? Is it legitimate?

You may have heard of Furcoins’ Bitcoin exchange, where users can buy and sell Bitcoins anonymously.

My first knowledge of this platform was from the constant comments ‘Spam’ about Furcoin on my reviews of Bitcoin exchanges.

The main draw to this platform is the ability to transact with any amount without identification or verification.

Indeed, one of the primary reasons why people use Cryptos for their day-to-day transactions is the level of anonymity it presents.

However, criminal elements pounce on this opportunity to rip unsuspecting people off their funds.

Questions are bound to be raised here and there as to the safety of crypto holders in a completely anonymous ecosystem.

Having taken a closer look at Furcoins and its activities, I have concluded that Furcoins is a deceptive exchange intended to rip its users off their money.

I shall present facts to back up my claims in this Furcoins review.

Please pay attention.

Furcoins Review – What it is About

According to information on Furcoins’ official website, they claim to be an anonymous digital currency exchange created in 2013.

It allows users to buy and sell Bitcoins without presenting any means of identification or verifying their accounts.

Buyers can purchase Bitcoins from Furcoins’ alleged pool of Bitcoins, while sellers are charged a 2% exchange fee.

How Furcoins Work

Furcoins operates in a way that is contrary to the operations of all conventional exchanges and digital service providers.

To purchase Bitcoins here, complete a purchase form and pay through Western Union, MoneyGram, or Bank wire.

According to them, when your payment is confirmed, you will receive your Bitcoin within 48 mins to 6 hours.

Users wishing to sell Bitcoins must fill out a “sell form,” after which they are to choose between Western Union or MoneyGram as their preferred payment method.

The problem here is transactions do not have identification numbers.

How, then, can they be tracked by people who negotiate them?

Imagine filling out a “buy form” and paying $10,000 through Western Union without a means of tracking your transaction.

Isn’t that entirely absurd?

It’s like handing out your money to a stranger with nothing to show you had a contract with him/her.

Furthermore, Furcoins has a referral program where you refer people to the platform and earn 10% from their transactions.

How their transactions are tracked remains a mystery since they are unidentifiable, untraceable, and anonymous.

Who Owns Furcoins?

The idea of buying and selling Bitcoins without restrictions, identification, and verification via Furcoins may sound pleasing to you.

However, its ownership structure stinks of illegitimacy; I will tell you why.

Furcoins allegedly runs under a corporate entity called Fur Financials Inc., which it claims is headquartered in India and has a second branch in California, USA.

However, I painstakingly searched all Indian business registries and bureaus and couldn’t find anything related to Fur Financials Inc.

With no legitimate corporate entity, they are untraceable.

You can only contact them through their support email and anonymous phone number, +1 (484) 481 – 3368.

Its live chat box isn’t functional, and its terms and conditions indicate that it cannot be held accountable for unwanted occurrences on its platform.

That means if you pay for Bitcoins on their platform and don’t receive them, they cannot be held accountable for your loss.

Furthermore, I mentioned earlier that they claim to have existed since 2013.

However, I did a domain search on WHOIS and discovered that their domain was registered just last year, on the 24^th of August 2017.

And since it was done privately, there is no way to access its ownership information.

Whoever created this platform has taken drastic measures to stay anonymous while ripping people off their hard-earned money.

Conclusion

Nothing looks right on this platform.

After thoroughly searching for past user comments, I came across distressing feedback from a guy who lost $1,000 on this platform.

He recounted his ordeal on Reddit. You can find it here.

Staying off this platform will be the smartest move you have made today.

• Its ownership info and structure are hidden.
• Transactions are untraceable
• Payments are made through irreversible payment methods
• Furcoins cannot be held liable for any loss you incur on their platform.
• If you lose your money, there is absolutely no way you can file a comprehensive report or anything of that sort.
• They lie about everything, from their launch date to their corporate entity.

KEEP OFF THIS PLATFORM!

Conclusion

There are a ton of legitimate exchanges out there you can choose from.

Whether traditional or P2P, we have taken time to review most of them Remitano, Coinbase, Binance, Bittrex, HitBtc, Coinbase, Luno,  to name a few.

You can also read our research on Top 10 Reputable exchanges to Buy cryptocurrencies.

If your thing is making money with Cryptocurrencies, I advise you learn how to trade, here is a FREE Beginner trading guide.

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