Fake Exchanges Discussion

[RoyalHouse01 9]

these kind of trading is available of course but if you find a way to do that only do it on the well known and old exchanges in order to stay safe from the scammers.

[Honny143 13612]

10 minutes ago, katri2 said:

Of course, as a client we will see a bunch of trades on the web, but most of them are not common and stop fake practices, so we shouldn't trust any such business without investigating it and not thinking about its audits and reactions.  

Well my friend @katri2 in crypto world there are so many fake exchange existence, basically these exchange shows fake coin pumps to attract arbitrage traders, once we invest our funds to buy that coins they never return back our funds, so always be careful and invest in well known exchange like binance yobit kucoin.

[David84 1191]

There are so many fake exchanges and I do register in any of them. The world of crypto currency is full of scams and fake sites and all kinds of manipulation that comes to your mind, so the safest thing is to stick to well known sites that has good reputation , and has high liquidity and high popularity and then you will be safe.

[Virgil dijk 1431]

It's better for arbitrage traders to better trade on exchanges which is well known or better still make research about an exchange before trading in it, because most scam exchange uses high volume to attract arbitrage traders and do away with their money.

[Waseem jabbar 185]

Yes , Many fake exchange are available in the market .so firstly be careful . In my opinion , if u invest in any exchange firstly know that the rules and regulations of this exchange and also learn and get knowledge about it. So no doubt there are many types of exchange that are scammer.

[zeshan1122 654]

I myself have not faced any fake exchange but you can see there are many exchanges that are fake and who are not doing the good things with the users.

[Eezabell 339]

I have already made the discussions about the fake Exchanges. But Right Now I will tell You the Secret of the Fake and the Misleading Exchanges is that they Give us the Sceams that If Some One Deposit this amount he will get the 1 Bitcoin or the 2 Bitcoins.

[Syed Ali Zulqadar 6]

When i heard about exchages that it serves good in people. Same i saw here that it totally different. Now i found excahange a wrong and fake for people. Its just waste of time and making people foolish by their inappropriate activities. We should take into consider and disseminate this to others whom are suffering from it. 

[Burlin 230]

I concur that solitary utilize respectable trades, huge and trustworthy ones like yobit please use, avoid new ones despite the fact that it's modest. When something turns out badly you will lose everything.

[zhoutong 2188]

There is not only arbitrage that might attract traders, however this happened a lot often in previous years. These fake exchange usually have a different kind of trap, giving a gift to a new user but asking to make a deposit first in order to withdraw. It is stupid but the reward is good for some to take the risk and send a small amount, which of course they lose completely.

[rami.1997 18]

Counterfeit exchanges also issue worthless ICOs. Arbitrage trading is hype, there are large costs in withdrawing if we trade crypto with flat money (USD, YEN, EURO, etc.), usually the process takes too long so that it eliminates the opportunity to make a profit from arbritase trading, even we often lose.

[Sophia Ella 36]

You will see a lot of exchangers with high volume when you check the coinmarketcap but believe me you have to be careful because most of those exchangers you see with high volume are fake and that is why you have to make good research about the exchanger before you deposit your funds into it to avoid loss. Good luck everyone.

[Arslan Ch 2163]

Yes we should be aware of all the aspects and shouldn't trust any exchange site before doing a deep research about it.We should choose the exchange site that has good popularity and is trusted by people who are using ut as any new site is unsecure and using that is a big risk for our capital.Be careful and good luck!

[Yazmani 149]

You are hundred percent right dear I am agree with you and I am very thankful to you for sharing this information by your post with all users in the your post. There are many new users so they need information about it and they need help to senior and high level people and also good traders. I also one of them so I have no much information about it because I recently joined this platform.  So I need to others advice and help. I'm agree with this post. 

[Henri1111 120]

I think it is easier to know counterfeit exchanges than projects from ICOs, they are very bad in appearance, the amount of currency, the volume is odd and very foreign which is not found anywhere else. There are many large exchanges available so it does not seem too much with fake exchanges. Because probably it many people doubt will touch it

[Atif Aslam521 65]

We aware from fake exchanger because exchanging mean buy and sale if fake exchangers come then there is more dangerous for us and more chance for loss

[Malikhamdullah 145]

The most inept trade as I would like to think is the Chinese Bitsdaq, as they cheated precisely every step of the way. The primary separation was that they said that the cost of one of their token would 20 pennies, and when I left, I saw very another.

[MoralStories 1127]

Alot of people lost their money just because there are some exchanges which are fake and they use to trap you and to make you deposit and then they run away with your money

[Cleaner 2549]

Trading arbitrage is risky again profitable.  There are both benefits and risks to trading.  However, when trading arbitrage, you have to choose a good exchange site.  Because there are many fake exchange sites in the crypto world, from which everyone needs to be careful.

[HasFahd 500]

It very unfortunately how scammers scam people and create exchanges that make people lose their money, that have become a very big problem to the world, it has been a big challenge and how to tackle it also, we all need to be careful in situations like that

[Jawad Nazeer 131]

Many scammers are active in the process of exchange so we should be very careful from them. you know very well the exchange is not registered therefore greaterchance of fraud will happen. If any site provide us any discount then we understand it would be a fake and scam. Scammers  usually fraud us by saying that they will give us big discount so we should be careful.

[KarlJohn1 56]

1 hour ago, Tufail khan said:

You know very well the exchanges is not registered therefore greater chance of fraud will happen if any site provide us any discount then we wlii understand it would be a fake and scam...Scammers usually fraud by us by saying that they will give us big discount so we should be carreful

We do not even need to be bothered about fake exchanges, all we need to do is to check if the exchange is on coinmarketcap, if not found amount the list, you can try coingecko, if not still found, that means it is fake. Yes,, fake exchanges will only defraud using malacious means. 

[Fahad rajput 49]

Beware of this kind of exchanges site. They charge many high fees 1st and then they will take many time in this. So this is the main reason you can see. The fake exchange has its many rules which is not authentic. 

[Dorjoy12 8962]

On 10/30/2019 at 4:04 PM, xBDT Script said:

Before doing that, don't forget to dig a little about the exchange you are going to deposit because they may use fake volume to attract arbitrage traders

This is totally  right because  few days back on of my well known crypto  trader did arbitrage trading of eth from binance to another  low reputed  exchange  site..  So his first arbitrage  trading done shortly but next step arbitrage trading were in lose as he withdrawal his amount by eth but the exchange  site eth withdrawal was off..

[Emanec 17]

On 10/30/2019 at 1:04 PM, xBDT Script said:

Let us have discussion about fake exchanges and how they fake it and all stuffs in this topic.

Very often we see people talk about arbitrage trade. It's true that arbitrage trade is a very good option to make money. For your info, arbitrage trade refers buying a cryptocurrency from an exchange where price is low and selling it in another where price is high. It may happen very often because of the supply and demand available in various exchanges.

But, scammers are everywhere. You may see significant price on a particular exchange and decide to buy bitcoin from other exchange and sell into that particular exchange. Before doing that, don't forget to dig a little about the exchange you are going to deposit because they may use fake volume to attract arbitrage traders.

Always use reputed exchanges only.

Sure I've faced with such scammers who are cheating with fake arbitrage platforms by containing legit p2p exchange by their fake exchange, so that's we should be carefully with that.