HiRiBi, found online at HiRiBi.com, is a bitcoin exchange that promises to offer the best rates. Find out how it works today in our HiRiBi review.
What Is HiRiBi?
HiRiBi is a London-based business that promises to let you “exchange your bitcoins with best rates on the market.”
The company claims to scan through a list of the top 20 exchanges on the market to find the best rate. If you’re buying bitcoin, you get the lowest rate, and if you’re selling bitcoin, you get the highest rate. In general, HiRiBi’s rates seem to be the best we can find on the market by a significant margin.
The company appears to be legitimate, and they’ve been active online since the beginning of 2017. They have a page on Trustpilot with good reviews. However, there are plenty of red flags – like spelling errors and awkward grammar on the official website. The company also offers a generous affiliate program, which could lead to a proliferation of fake reviews across the internet.
One of the advantages of HiRiBi is that you can buy cryptocurrencies with PayPal – something that isn’t supported in PayPal’s terms of service, and something PayPal has historically blocked.
Let’s take a closer look at how HiRiBi works to see if it’s legitimate or not.
How Does HiRiBi Work?
Step 1) Visit HiRiBi.com and check the exchange rate.
Step 2) Enter the amount of cryptocurrency or fiat currency that you wish to purchase.
Step 3) Enter your PayPal address. Click pay, and pay the amount from your PayPal account on the next screen.
Step 4) The PayPal payment will be made after 3 bitcoin network confirmations have completed.
Basically, you pay HiRiBi through your PayPal account, then receive cryptocurrency. You can also pay HiRiBi with cryptocurrency, then receive money through PayPal.
As mentioned above, PayPal has made no efforts to support cryptocurrencies (which is understandable, considering cryptocurrencies are a major threat to PayPal’s business). Typically, it’s virtually impossible to buy or sell cryptocurrency with PayPal – unless you use a third party provider like HiRiBi.
You can also get an extra 10% discount on your HiRiBi transaction by topping up your advertising account on supported ad networks. You can buy any item or top up your ad account and get a 10% discount or 10% bonus. Bing is supported, along with dozens of smaller advertising networks. Google AdWords, however, is not one of the supported ad networks.
In terms of payments, HiRiBi accepts payments via Bitcoin, WebMoney, SOFORT, CASH, and Perfect Money.
HiRiBi Referrals And Affiliate Program
HiRiBi offers a generous affiliate program where you can share your referral link and earn 5% from each exchange request for life.
This doesn’t appear to be a multi-level affiliate scheme: it seems to be just a straightforward affiliate promotion where you get rewarded for referring new people to the platform. However, HiRiBi does encourage users to post their affiliate links on advertising networks, and to post positive reviews of their service across the internet along with screenshots of their successful transactions – so they’re clearly heavily encouraging the affiliate angle.
HiRiBi Exchange Limited is a UK-registered company. The company lists an address at the Penhurst House in London, England. You can contact the company by phone at +44 2082 438 546 or by email at [email protected]
We searched for the company’s business number online and it’s true: they appear to be a legitimate UK-registered company. You can view their registration information here. The company was incorporated in February 2017. The only listed member of the company is Claire Giesler, listed as the Director.
Conclusion: Is HiRiBi a Scam?
HiRiBi doesn’t appear to be a scam – despite a number of Reddit posts and forum threads asking that very same question. The company appears to have successfully cleared a number of transactions through PayPal and other conventional payment methods.
However, there are certainly some red flags about the company. It’s unclear how the company offers a bitcoin rate that’s significantly better than any competitor on the market, for example. It’s also unclear how many of the company’s online reviews are legitimate – and how many are just taking advantage of the HiRiBi affiliate program.
Ultimately, PayPal has a history of shutting down bitcoin transactions, which means you should be cautious when dealing with any service like this. You may want to wait for more information to come out online about HiRiBi. For now, proceed at your own risk.