Sharkoin & SharkRoulette: An In-Depth Analysis

Welcome to our Sharkoin review, in which we investigate the website currently found at sharkoin.com.

Did they scam you? Let us know by commenting below.

Recently, one of our partners received the following complaint from a person who reported losing $120,000:

I won on sharkoin.com, but they never paid out.

So what is Sharkoin, and is it a SCAM?

Sharkoin.com Review

Sharkoin.com, an online cryptocurrency gambling platform, was initially registered on October 3, 2016, via GoDaddy.com by an undisclosed entity and is currently hosted by LeaseWeb Netherlands B.V.

Globally, Sharkoin.com holds a commendable ranking of 925,494, according to Similarweb, and in Brazil, it sits at rank 83,170. When it comes to the “Finance – Other” category within Brazil, it impressively ranks at 1447.

As of June 2023, Sharkoin.com enjoyed a substantial number of 46K visits, streaming traffic from numerous countries, including Brazil, Germany, South Africa, Costa Rica, India, Bangladesh, the United States, and beyond.

SEMrush recognizes its authority score as 17 and notes an impressive network of 31.3K backlinks originating from 404 distinct referring domains.

Users must create a free account using a valid email address to participate in the games.

Deposits

Users must add funds to their accounts to play games for real money. This is done by clicking the “deposit” button at the top of the page, selecting the cryptocurrency they’d like to deposit, and sending a transfer to the address displayed.

The funds should appear in their account balance in a few minutes to a maximum of 360 minutes.

Users can deposit funds using Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Dogecoin, DASH, Tether, and TrueUSD.

Withdrawals

Users can withdraw their winnings at any time. To do so, they click the “withdraw” button, choose the cryptocurrency balance they wish to withdraw from, select their desired payout cryptocurrency, and enter the withdrawal amount.

The platform processes withdrawals instantly or within a few hours.

They can withdraw funds in Bitcoin, Litecoin, Bitcoin Cash, Dogecoin, Ethereum, and Dash.

Games

SHARKOIN offers a variety of games, including:

1. Fish Game: A guessing game where the user picks the field, hiding an oyster. They win and can move to the next row if they choose correctly.
2. Dice Game: Users place a bet, adjust their winning chance, and roll the dice for a chance to win. The lower the set chance, the higher the potential profits.
3. Mines Game: The goal is to clear a board without hitting any mines. The more mines selected, the higher the potential reward and risk.
4. Wheel of Fortune: Users place a bet and spin the wheel for a chance to triple their bet amount.
5. SLOTS: Users can win prizes ranging from 2x to 50x their bet.
6. Blackjack: Traditional card game to get as close to 21 as possible without going over.

Each game offers different rewards, and most games offer a free demo mode to get familiar with the gameplay.

Affiliate Program

SHARKOIN offers an affiliate program where users can earn 0.5% of every bet made by players they refer to the platform.

This money is added to the user’s affiliate account balance, and they earn money regardless of whether the referred player wins or loses their bet.

SHARKOIN Token

SHARKOIN has created its own BEP20 token on the Binance Smart Chain. The BEP20 token standard is a standard for tokens built and functioning on the Binance Smart Chain, a blockchain network built for running smart contract-based applications.

The token, also named SHARKOIN, has a contract address of 0xaE077e9cf5F624bE2E6063AaBfb58B98335fD649. The total supply for this token is a substantial 100,000,000,000.

The platform recommends using Pancakeswap, a decentralized exchange (DEX), for trading this token.

A key selling point for the SHARKOIN token is the additional benefits it promises holders. For example, anyone holding a balance of SHARKOIN worth at least $10 will receive 20 daily free spins on the platform instead of the usual five.

In addition, active players using the token on the SHARKOIN platform may receive additional promotional funds, suggesting the token might have utility beyond being a speculative asset.

Terms and Conditions

The terms and conditions outlined by SHARKOIN apply to any user who registers or logs into their system and plays a game. Key elements of these terms include:

1. Age and Geographic Restrictions: SHARKOIN only accepts players at least 18 years old and from countries or regions where cryptocurrency gambling is permitted.
2. Account Creation and Management: Players must sign up for an account, and can only have one account per individual, household, or IP address.
3. Deposits & Withdrawals: Deposits can be made via personal cryptocurrency wallets. Unverifiable deposits may be considered fraud, and all play and winnings associated with such deposits will be nullified. SHARKOIN may verify your identity for larger deposits to prevent money laundering. If SHARKOIN mistakenly credits your account, the amount will be deducted from your account balance. SHARKOIN can check a player’s identity before processing payouts, and failure to pass the identity check will result in the voiding of all bets and a refund of the last deposit.
4. Free Spin Policy: Only one account per IP or family is allowed to use the free feature. Deposits made only to withdraw the free spins winnings are not allowed, and excessive use of the free spin option can lead to account suspension.
5. Inactivity: Accounts may be deactivated or suspended after more than 52 weeks of inactivity.
6. Volatility: If crypto funds that have not been used for betting or playing for more than 6 months have increased in value by more than 20 times, they cannot be withdrawn.

Support

Users can connect with the SHARKOIN support team through their Telegram channel or group, or by filling out a form on their website.

SharkRoulette.com Review

The company that manages Sharkoin.com also owns another domain: SharkRoulette.com. Registered on January 7, 2017, via GoDaddy, it presents as a less popular sibling with a SimilarWeb global ranking of 4,824,428 and a relatively modest visit count of 2.8K in June 2023.

As per SEMrush, the platform holds an Authority Score of 8, backed by 984 backlinks from 197 referring domains.

SharkRoulette welcomes enthusiasts to experience the thrill of European Roulette, conveniently played with cryptocurrencies. Registration is a breeze, requiring only a valid email address, and the sign-up form is handily placed next to the login button.

The platform houses the acclaimed game of European Roulette, popular for its enhanced winning odds. This engaging game features 37 divisions with numbers 1 to 36 alternating in red and black, while zero takes the green spot.

Playing is simple: choose your chip(s) value between $0.1 to $500, place them on your chosen field(s), and let the roulette spin with a click on “Spin.” The settling of the ball in a numbered pocket determines the winning number, which is then marked on the table and cylinder.

On securing a win, your earnings are displayed on-screen and promptly added to your account balance. Payouts vary with their probabilities, ranging from 1:1 (for Odd, Even, Black, Red, 1-18, and 19-36 bets) to an exciting 35:1 for a single-number bet.

For those ready to jump into real play, SharkRoulette accepts many cryptocurrencies, including Bitcoin, Ethereum, Litecoin, Dogecoin, Bitcoin Cash, DASH, and stablecoins like Tether and TrueUSD.

SharkRoulette offers an affiliate program where you can earn money by promoting the platform. You’ll receive 0.5% of every bet your referrals make, whether they win or lose.

Sharkoin Reviews

Sharkoin was flagged as an illegal Ponzi scheme by FoxyRating, warning users not to use it to avoid being scammed. Despite this, the site has a high user rating of 4.9/5, with some users praising its fast payouts and no fees for some cryptocurrencies. Critics label it a scam and advise against its use.

Based on the reviews on Trustpilot, Sharkoin appears to have received mixed feedback from users. The platform has a TrustScore of 3 out of 5, with a total of 45 reviews.

Several verified reviews highlight concerns about Sharkoin’s service. Some users, like Dipesh Pal and Atul Kumar from India, experienced issues with delayed payouts and accusations of using the platform for cryptocurrency exchange rather than gambling. Despite complaints, Sharkoin defended its practices and stated users had been warned before any account suspension.

Mr. A from Bangladesh also criticized the platform for suspending his account and retaining his deposited money, labeling Sharkoin as a scam. The company responded by blaming the user’s violation of their terms of service.

Although Sharkoin replies to all negative reviews typically within a month, their details have yet to be verified on Trustpilot. The platform claims to be a popular, trusted gambling site, offering instant transfers, free cashouts, and multiple deposit options. However, given the mixed user reviews, user experiences seem to be inconsistent and potentially problematic.

SharkRoulette Reviews

According to the Trustpilot platform, SharkRoulette has a TrustScore of 3 out of 5. As of the current period, it has a total of 59 reviews.

Several verified reviews on Trustpilot highlight various issues with SharkRoulette:

1. Duc Le from Vietnam rated the site 1 star and claimed it to be a scam due to his pending withdrawal request and lack of response from the support team. However, SharkRoulette argued they could not investigate without a username.
2. Rob from Germany also gave a 1-star rating, accusing SharkRoulette of disabling his account and refusing to stop sending promotional emails, despite his account balance. SharkRoulette clarified its policy against multiple accounts and affiliate program abuse.
3. A UK user known as “Bad luck guy” expressed disappointment with his losses on the platform and perceived it as risky.
4. Marco from Italy rated the platform 1 star, asserting the site was rigged. SharkRoulette rebutted by emphasizing the randomness of game results and the potential impact of player strategies.

SharkRoulette’s profile remains unverified on Trustpilot. They have responded to over half of the negative reviews, typically within a month.

Bottom Line

Sharkoin and SharkRoulette are online gaming platforms that allow cryptocurrency transactions.

The platforms have received positive feedback for their simple registration, crypto variety, and quick transactions. However, they’ve also faced criticism over payout issues, account suspensions, and unsatisfactory customer service. Moreover, allegations suggest Sharkoin may be a Ponzi scheme.

Despite their efforts to address these concerns, persisting issues and a variable TrustScore question their credibility.

Therefore, potential users should be cautious, comprehensively research, understand the terms, and consider starting with small, affordable amounts.

As with any financial endeavor, especially in online gambling, one should never risk more than they can afford to lose. With platforms like Sharkoin and SharkRoulette, staying informed and cautious is key to a positive experience.

If you are a victim of online scams, please let us know by commenting below, and if you have lost a significant amount of money, do not lose hope. We can help you recover your funds!