Satoshibox Review – An Untrustworthy Online Marketplace Relying on Bitcoin for Payments

Satoshibox is a quite mysterious service. Before doing a significant amount of research about Satoshibox.com, I was confused what the company does. I ended up realizing that Satoshibox is an online market place. The site enables sellers to sell what they have to customers who are interested in purchasing what they are selling. Sellers are able to upload files to the Satoshibox.com server where the interested buyers can then view them and speculate what the seller is offering. Satoshibox is largely directed to the cryptocurrency enthusiasts. For this reason, most of the files available on the Satoshibox server are related to bitcoin.

I tried to determine the country where Satoshibox has its offices by checking the information on the website. I realized that the website does not have most of the crucial information such as where the website is located or even when it was established. I decided to use whois.com to determine this information. Luckily, the Satoshibox.com management had not activated a privacy package. I was therefore able to determine that Satoshibox.com is located in Czech Republic. Satoshibox.com was first registered back in 2013. This means that it has been operational for 5 years already. This is impressive.

There is no mention of the software that Satoshibox utilizes. Since the site involves the upload and download of files, I tried to determine whether the site takes necessary precautions to make sure that no viruses or malware is uploaded. Unfortunately, I learned that Satoshibox.com has not implemented any security measure to make sure that people do not upload any malware.

All transactions taking place on Satoshibox.com are via the bitcoin. Because of this simple fact, buyers should be careful when making purchases. This is based on the fact that bitcoin transactions are irreversible. There is no information on Satoshibox.com about the countries where Satoshibox is accepted. I assumed that the website services are accepted in the countries where bitcoin transactions are legal.

Satoshibox supports a wide range of languages. The supported languages are divided into 2 categories. The categories are:

  1. Full translation languages
  2. Not fully translated languages

The full translations languages are:

  • English
  • Czech
  • Spanish
  • Italian
  • Slovenia
  • Russian
  • Dutch

The not fully translated languages include:

  • Chinese
  • Chinese simplified
  • Japanese
  • Spanish
  • German
  • French
  • Portuguese
  • Italian
  • Polish
  • Swedish
  • Slovenian
  • Turkish
  • Danish

There are no specific devices where Satoshibox is supposed to be used. It is an online service. This means that its users are able to use it as long as they have a device that can access the internet. On Satoshibox, there is no mention of the cryptocurrency exchanges the website partners with. I was not impressed by the fact that Satoshibox does not have any way of getting instant customer support. The company does not have phone numbers or a live chat. The only way to reach out to the customer support team is to use the contact form on the contact page to send an email. There is no mention of how long the customer is supposed to wait before he or she gets a reply. Buyers are supposed to pay for what they are buying using the bitcoin. After a successful sale, Satoshi Box sends the payment to the customer’s bitcoin address.

How Does Satoshibox Work?

The functioning of Satoshibox is straightforward. The sellers are supposed to upload files to the server, specify their bitcoin address and the price before sharing the link with potential buyers. If a seller makes a sale, Satoshibox.com takes a cut from the sale in the form of a commission. For each successful sale, Satoshibox will get a minimum 6% commission or 0.0015 BTC.

Buyers browse through various packages on Satoshibox.com. If the buyer feels that whatever the seller is offering is genuine and legitimate, all he or she will have to do is click the buy button. After clicking the buy button, the customer will get a special web address for paying. This web address will allow him or her to download the content that he or she purchased on Satoshibox. The buyer can then go ahead to use the files he/she downloaded. The main flaw Satoshi Box has is that when the buyer realizes that he or she has been scammed, there is no way to get his or her money. The fact that Satoshibox.com uses the bitcoin for payments means that refunds are impossible.

SatoshiBox Features and Services

The only service I was able to discover on Satoshibox is helping customers meet prospective buyers. Apart from connecting customers to prospective buyers, there is no any other service that the company offers. This is the service for which they take a minimum commission of 6%. The 4 main features I found on the website include:

  1. Multiple languages – The site has numerous languages. However, the majority of these languages are yet to be translated fully.
  2. Affiliate marketing – people who are using Satoshibox can have their friends and other individuals join the system using affiliate links. If people join using a sellers’ affiliate link, the owner of the link will get paid.
  3. Statistics and transactions – Satoshibox.com users are allowed to track the last 14 days activities. The users get to view the unique visitors and even the sales they made.
  4. Embedding Santoshi Box on a personal website – customers can use a special code to embed Satoshibox.com on their website where customers can easily make their payment.

Satoshibox.com Cost

There are no costs involved when joining Satoshibox.com and selling or buying. The sellers can join free of charge. This is also possible for the buyers. Satoshibox generates its money through the 6% commission that the sellers have to pay for each successful sale they make. There are no plans like there are on the majority of other bitcoin trading sites. It is worth noting that Satoshibox.com differs significantly from bitcoin sites. It is an online marketplace where customers can sell anything.

Satoshibox Reviews

Satoshibox.com is an active marketplace. I was able to locate the site reviews on different reviews collecting website. The site had both negative and positive reviews. To get a better understanding of what the customers were happy or complaining about, you need to go through the reviews below:

Satoshibox Reviews

Satoshibox Reviews

The first reviewer above reported that Satoshibox is an excellent site. The reviewer had been selling his scripts on Satoshibox.com. He did not have any issues with the bitcoins he was paid. The buyers did not have any issues when downloading his scripts. He encouraged the buyers to make sure that they are not buying from a scammer before committing to pay. He rated the marketplace 5 stars indicating satisfaction.

The second reviewer was not a seller. He was a buyer. He claimed that he had made a purchase on Satoshibox.com. The company was not a scam. He did not have any issues. Mikey was not impressed with Satoshibox.com. He claimed that the site is a scammer. They did not give him any refunds when their system messed things up.

Satoshibox Customer Testimonials

Satoshibox Customer Testimonials

Ray was not impressed by the fact that Satoshibox.com does not allow the buyers to view what they are supposed to be buying. The website requires the buyer to guess what he or she is paying for. He rated Santoshi box a single star for this. Rich reported that the Satoshibox.com customer support team was able to resolve a payment issue in a single day. This impressed him. Turion reported that Satoshi Box is a scam. They held his bitcoins. Nizam sold something on Satoshibox but did not get any bitcoin on his wallet. He called the company a scam.

Satoshibox is a company I wouldn’t advise anyone to trust. Although the site allows the buyers to purchase items from sellers from around the globe easily, the buyers have no idea of what they are buying. The site expects the customers to guess what they are paying for. This raises the chances of getting scammed. The site does not offer refunds. This is another huge red flag. Succeeding when using Satoshibox, especially for buyers, takes luck. Luck is not worth depending on.

Conclusion

Satoshibox.com does appear to be quite active. It has reviews on various websites. Despite its active status, I wouldn’t recommend using the website for buying. The buyers do not know what they are buying. This increases the chances of getting ripped off by shady sellers. After being scammed, there is no way for the customer to get back his or her money. Satoshibox does not offer any refunds. Satoshibox.com is easy to get started with. There are no investments needed. The seller will only get charged a commission after making a sale. For cryptocurrency enthusiasts looking forward to deriving benefits from cryptocurrency trades, Satoshibox.com shouldn’t be their priority option.

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