Fake Exchanges Discussion

[DanielMcRon 598]

I agree with the author. If you take a closer look at popular exchanges, then there is almost no difference in the price of cryptocurrency. If you look at some unknown exchange, then the difference there sometimes reaches almost 10%. You need to be careful with this, because you may not be able to withdraw this money later. But, if you checked the site and see the difference for arbitrage trading, then you can safely use the moment

[Michael0606 861]

This is a very important and delicate issue, since it is a form of fraud and multiple thefts of cryptocurrencies from other users, therefore it is always advisable to use known exchanges, and reputable exchanges such as yobit or binance, since it is very safe to have there and  trade your cryptocurrencies.

[Mella 3680]

I am found the yobit exchange and now I am safe and stop warring about the fake exchanges. Since I am use Yobit why I will need to find other exchange and I am only stay in Yobit now, but I am try to find earlier when I am start the best exchanges and I am found binance coinbase and bithumb but I am then see that yobit is a top exchange too and a secure one that we can use a lot.

[Jamillove2580 115]

I think using a fake exchanger will steal your data.  Most people do not know that counterfeit exchanges can actually hack all their data so I would suggest you to refrain from using counterfeit exchanges all the time.  Using a fake Exchanger will take away your money and all your information

[obatala 28]

Like everything that has to do with business and investment, there is also a counterpart opposing this, the scam, there are many exchanges that are beginning to appear today that behind that facade only seek to steal from the unwary, my recommendation as Such is seeking information about official twitter pages, videos of recognized youtubers who participate in these projects or reading in different renowned forums.

[roymundo18 27]

If we go to coinmartketcape we can see there are over 3000 exchanges and when we will do the calculation of the volumes then we will see infinite number volume LOL

[cooperallch 349]

Generally when the value of a currency has a higher or lower price in an exchange you should already be suspicious because the exchange can be a bait to give a blow to those who like to apply arbitrage

[smithk 149]

Yes there are fake exchanges out there. They got fake volumes and at times have unreasonable trading charges and even withdrawal charges.

It is always good to do research before sending funds to exchanges even though their CMC rankings may seem good

[Enola Holms 0]

There might be fake exchanges but I have not seen any yet, may be because I hardly know about any other exchange than Yobit, or Binance, but these two are amazing exchanges to work on.

[ShiNorton 906]

You can find so many fake exchange sites or websites information in this website https://cryptochainuni.com/scam-list/ . I visit this website regularly to check fake crypto websites.

[Teminali69 1081]

5 hours ago, ShiNorton said:

You can find so many fake exchange sites or websites information in this website https://cryptochainuni.com/scam-list/ . I visit this website regularly to check fake crypto websites.

I have seen the list it is quite an effort, but there are more than hundreds of scam websites and project out there, that list does not cover all, so we still need to be more careful.

[Captin 0]

Hello my friend, for me, I see the currency price on a daily basis from a reliable site for me, which is coinmarketcao, and based on the prices it offers, I am thinking about buying and selling and I know the fraudulent site from the legal site

[Jose2323 186]

This fake exchanges are easier to know than ICO and IEO projects, they are very bad in appearance, coin amount, volume is odd and very foreign, there have been many large exchanges available so it doesn't seem to be too much with fake exchanges because it's likely that many people, My opinion and experience the exchange security is Binance. 😉😉 

[Jromz 2158]

Unfortunately cryptocurrency market is not regulated, which sets the stage for a number of fraudulent exchanges to appear year after year. I guess the safest bet here would be trading only on established exchanges that have been around for long. In terms of arbitrage opportunities, I would recommend everyone to be cautious, as some fraudsters are adding people to telegram channels where they share 'arbitrage opportunities', where you have to transfer BTC to a fraudulent exchange called Bitniex that supposedly will buy BTC at a higher rate.

[Viscount 1357]

I think even reputed exchanges are doing some pump and dump. We cannot really tell sometimes whether they are doing it or not. I think even Yobit exchange is doing those because there are pumps that really are suspicious to me.

[Phongg224 33]

someone who is an expert in the field of IT and network graphics will certainly easily copy the interface from another exchange, I used to be almost stuck with an exchange that is almost similar to bitfinex, so we have to be careful with that

[matias estigarribia 1605]

In my case, I never encountered a false exchange since I work with platforms with a good reputation and that provide trust. But if you hear about them several times.

[GanBin 705]

On 10/22/2020 at 8:02 PM, Teminali69 said:

I have seen the list it is quite an effort, but there are more than hundreds of scam websites and project out there, that list does not cover all, so we still need to be more careful.

That is why we need to be very careful of the exchange you want to use. I made a proper research for the best exchanges before taken one. But if you meant about coins, you are also right, there are thousands of fake projects we need to avoid, but many people will not be able to avoid it because of greed. 

[DreamStage 2105]

Well if are well aware if those exchanges that you use for arbitrage trading than you are good to go and use them as you like.

 

But as you said everyone should be self aware that there are scammer ones that will not only allow you to invest some times but then run away with all your funds in a snap.

 

Such fake exchanges are mostly mentioned at some review sites, so you should look carefully or even search here on this forum regarding those informations.

[barancell12 89]

We must be very careful about the stock market. It will be a better option for us to trade in stock exchanges that we are sure to be reliable. Investing without good research would be the wrong option. It is necessary to wait and not to be hasty.
 

[huesca123 946]

Its always good to google an exchange, you are going to use. Add scam or review in your search for the exchange.

 

You can also use scamadvisor or trustpilot, to see if there are any negative or positive comments, regarding the exchange you want to use. Also, be on the look out for false ratings for the exchange ( or whatever web web page your reviewing ). Sometimes the scammers post a bunch of false reviews of the web site. But, its usually pretty easy to spot false reviews. Look for only positive reviews, funky names, many posts all on the same day or within a short period of time, etc.

 

Hope that helps.

[Teminali69 1081]

On 10/30/2020 at 2:23 AM, Viscount said:

I think even reputed exchanges are doing some pump and dump. We cannot really tell sometimes whether they are doing it or not. I think even Yobit exchange is doing those because there are pumps that really are suspicious to me.

But it is not all the time that exchanges are doing pumps, sometimes just normal traders who have large number of coins are doing pumps.

[mattsett 120]

You left good information, usually false exchanges negotiate a currency with a price much lower or higher than normal to attract the attention of investors who want to arbitrage, and you end up applying a scam

[Dormilon 2183]

On 10/30/2019 at 6:04 AM, 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.

An old trick to steal coins, attract with arbitrage and then retain your coins with high withdrawal fees, when you are going to do any trade it is important to verify well the exchange where you are going to operate, not just do it blindly and running to see if we make a profit because we run the risk of being scammed.
It happens a lot that users do that and then we see them complaining about losses, scam exchanges are on the network waiting for the unwary, being attentive is part of our job, greetings.

[Teminali69 1081]

On 11/23/2020 at 4:57 AM, Danyah ghaith said:

Fake exchanges are easier to know than ICO / IEO projects, they are very bad in appearance, coin amount, volume is odd and very foreign.

Trust me brother there are fake exchanges which are super hard to notice as everything seems legit, the only part that would not seem legit is the part where you are already scammed.