Fake Exchanges Discussion

[Hassanali 22]

I think there is some fake volume, but there are also misconceptions about this. In many cases, volume is created in legitimate ways and not just fake volume.

[Hassanali 22]

It's hard to discover the exchangers which have a genuine volume. i'm beyond any doubt most of exchangers utilize a fake volume. they utilized it to attract some financial specialists and dealers to utilize their stage. this fake volume usually utilized by a unused exchangers.

I have a address here, I need to know who is making this fake volume on any coin on the trades, is it the coin proprietor or is the trade itself or is it a few whale.

[BTC Future 3946]

17 hours ago, usjiavaka said:

These fake exchanges take money from people and give them back nothing. They just steal others' money and fly away. These types of people do not deserve respect and dissemination. Now that the chartoken exchange has closed the sell option, they only opened the buy option and all my coins and investments are currently stuck simply they are making a scam with people.

I'm sorry for that happened to you. It is terrible and happens very often. Lately these scammers are targeting many members from their airdrops. Need to be careful with all of them. Also after a quick search that took 5 minutes I've found out many accusations against them since October 2019. You will need to do always do research before you sent funds to any website. There are many dangers and scammers are evolving and becoming better all the time. This one was advertising exorbitant returns that always are a red flag.

[iloveyobit 6599]

2 hours ago, Bilalaslam13 said:

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.

You must own the balance in both platforms in order to sell in one of them and buy from the other platform and you will be a winner, but the method of transfer between the platforms is not profitable.

[Raniiii 10]

thanks for sharing this most important information about fake exchanges. fake people always give mega offer for exchange to attract people towards them

[idena 7]

7 hours ago, luky88 said:

There are so many fake exchanges in the world of cryptocurrencies many have been tricked into because they think that all exchanges are safe we have to be careful and watchful for.

I agree with you, indeed there have been many fake exchanges where this exchange is a new exchange or an old one. Be careful about choosing unsafe and suspicious exchanges.

[doanvahauvk 34]

It is the business of both the exchange and the coins, some exchanges doesn't had employment alike as the silver coin, they pump each other to survive

 

[bentayebsalah 2280]

Good advice and should be taken to avoid fraudulent platforms that are intended to influence you in order to use them and for this it is necessary to deal only with the most popular exchanger

[duncun007 3577]

On 3/7/2020 at 5:14 PM, Albertlane said:

I normally make use of trusted and well-known exchanges,fake exchanges really disturb us who are in cryptocurrency, they affect investment so investors are afraid to invest in crypto, many people have been harmed.

i think for everyone who has been in the market for a long time its pretty easy to spot those fake exchanges and you should always do some digging first before you join a new exchange.

[Dark_Sky 8489]

Everyone should avoid this kind of exchanging, avoid being scam by those who do illegal exchanging and do not open unfamiliar links. 

Protect your account at all costs. 

[Honny143 13612]

In online we see so many fake and scam coin this coins not valuable, like this so many fake exchange also exist in crypto market, they show fake volume and liquidity, when we join this type exchange they steels our coins are they collects high fees, so don't believe this type exchange and not invest in this exchange.

[Jessica Karren 1242]

Yes there are many fake exchange in the market and almost everyday we heard about closing of many exchanges. We should have done enough search about exchange if we want to invest there.

[scorpiali 5626]

On 12/16/2019 at 10:14 AM, Sohel Rana Sazzad said:

There are many face exchangers in the online world who aren't really.They will show you a lot of profit at first but will not give you that amount of profit after work.

Yes true there is many exchange like that specially the new exchange that's why we should make a search about it before to start use it, be careful brother 

[jamesvince 2389]

Now a days many new exchanges cheat with traders because some traders are very excited when they check one coin price huge difference between two exchanges although the exchange that gave cheap price that exchange is scam after deposited they not gave us withdraw when we tried. 

[guatazoo 7150]

2 hours ago, JamesMark said:

There are a lot of fake exchanges registered in the market and I can't understand why so many people are using Scammers that currently have a lot in the cryptocurrency community.

If you go to telegram you will understand how people are so drawn in scam channels.

[CryptoMaxim 3829]

If the prices are different, this does not mean that arbitrage trade can be profitable. Since there are transfer fees and trading volumes on different exchanges are different.

[Marharyta 0]

There are many ways to check the exchange. Initially, you need to check if there is an exchange in the CoinMarkerCap listing. Check reviews on forums, in social networks, you can also google and read what other people who have already worked with the platform write. I do not understand people who make deposit a large amount on a new exchange, and then complain that they were deceived. Most likely, your first withdrawal of funds will be approved, this is what scammers do. But you dont get second withdrawal , they will block you and you will not even be able to write to the support. Do not trust the media, they all take money for writing reviews and articles about projects, and which project will pay money so that the media write badly about it? There are always flaws

[Rendra808 92]

someone who's an professional inside the field of IT and community pics will absolutely without problems replica the interface from another alternate, i was almost caught with an trade that is nearly just like bitfinex, so we ought to be careful with that

[George10 9932]

On 10/30/2019 at 12:04 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.

Yes you are right there are many exchange sites scamming in this way by showing interesting exchange rates that might look as profit to you if you are to exchange that exchanged crypto currency for another crypto coin in another exchange site and they normally use this pair of bitcoins to etherum beware they are scam don't fall in their traps.

[Rendra808 92]

presently, we saw a plenty of advertisement approximately new exchanges and their giveaway. they will pay first however thieve money most of the time. we ought to be cautious about those

[Thekingcallme 1975]

Fake exchanges can be discovered through the volume of trading and offers they offer are doubtful as well as the currencies in which they are dealing are limited.
It does not have any review on forums and big sites such as MakerCap

[Jaysen0104 536]

I agree before making any deposit to an exchange make sure that is is a legit and trusted by some of the people you know. Because nowadays it is hard to identify which exchange is legit and no a scam until you try to  use it. Lot's of scammers out there waiting for the right time to scam people so be careful always on what you are doing online specially if involves money. 

[Rendra808 92]

there are so many fake exchanges inside the marketplace and now i'm now not believing on any new change because i misplaced my a lot cash in new exchange they just were given the money after which near their trade for lifestyles time and now i simply invest in antique exchanges which are appropriate and first-class for us.

[Raqeebzy 6456]

I will talk about Arbitrage trading. Arbitrage trading is taking the advantage of slight difference between exchanges, it is not always profitable and advisable because the price difference is just for a very short period of time and one might end up losing because of the transaction fee involved in sending between the exchanges. However it is good for the market as it will make it more efficient.

[Saj555 2250]

There are a lot of cryptocurrencies available in the crypto world. An also there are several exchanges available with a lot of new features. But not all of them are quite legit. Because most of the features are actually fake there. Because the people are there get easily  attracted to those features. So we all must be so aware about this facts always.