Bitcoin Forum

Guys are you aware of FAKE Volume exchanges Sistemkoin is also one among such exchanges who are taking advantage by saying we are among top turkey exchange.
You must keep yourself away from exchanges
Many projects pay high fee thinking they will get good volume but end up with fake volume.

Share your thoughts about this exchange

I don't think there's enough evidence to just say a scam. There are dozens of stocks outside of Sistemcoin in the same way trying to emerge in the rankings with fake volumes. But, if you ask, I certainly can say that I dont trust them and I didnt do anything in this exchange and I will not in the future!

we post details about exchanges
you can find details here https://cryptomaa.com/exchange/

you can find fake exchanges here

Most of the exchanges volumes will be influenced by bot trading. Hitbtc, Hotbit, Bitforex are some of the very popular exchanges were trading volumes of coin listed there would be good but they won't pass the orders. For instance if a person willing to buy some random alts in any of these exchanges they would quote the price. But they seem to sell lower than the quoted price and their order doesn't pass. There are certain other instances to prove that many of the exchanges are being run by bot and provide fake volume. Some bots even buy a minimal of 1 coin or token for less than $1.  :D

Sistemkoin might be one such exchange which may be run by bots and provide fake trading volume.

It isn't a good exchange. I used it once and I couldn't withdraw my coins unfortunately. Now I use another exchanges.

Most of the exchanges are using a certain amount of self robot trading to contribute with liquidity to the system until the real traders pick up. Sometimes you can use it to arbitrage to your advantage.

Though there are some point that will indicate that the Sistemkoin has the possibilty of being a scam, there is not enough evidence to claim so. HOwever, one should be cautious and beware of such sites with same behavior. In a market like crypto, even a suspicious site can lead to a devastating loss.

I dont know about this exchange, but that true some exchange use fake volume for advertising. They create fake volume just for advertising, and that look not professional. We should be chooce exchange that has fully regulated to avoid this. Use old exchange like Bittrex, Poliniex, HitBTC is more safe than use new exchange that we didnt know the reputation.

I dont like that exchange their using washed trades. I remmber my coin tradove ticker BBC gains too big on the coinmarketcap by 158% then when I check the exchange on hitbtc and idex the price isnt what the cmc says. I noticed that only price pump on this exchange which when you visit the site you can see a very few volume. They only pump the price so cmc would reflect a high gain so every exchange where it listed will followed through the price. This is not good cause it is not a natural trading. I advise yo stay aeay from this exchange.

Yes, many of us are aware of the fake volume exchanges. There were news of global crypto market faking $6 Billion of its daily voume. I don't know if Sistemkoin is scam or not, but thanks for the heads up.

any proof of it?
which one coin you mean?

I never know they do like this, I have using Sistemkoin for buy/sell BitWhite (https://bitcointalk.org/index.php?topic=2727678.0) coin for a long time and never had a problem. I think it is a quite good local exchanges...

have you hecked another pair or coin? i thought that if you have and then you will know that. Maybe your coin have a real volume but if you known about the coinex case and so many people have been creating their own experiment and they are finding a lot of evidences. Just like your buy order doesn't get execute even the chart has been passing your order.

in the market where the incident happened, I think it should be constantly watched, if that happens a lot of losses will occur everywhere, and those who do that top market are very dangerous

Yes about fake volume, we could see many exchanges did that a while ago and personally, i think they did it on purporse.
they were doing it to get an attention from people, speaking about scam or not. i think it it still far from that because they did not inflict us any lose instead they were only doing a ghost trade. but of course, their image in front of community is not good either and the probability for it to get known by the community is almost 0.

that is true, without valid evidence or facts, we cannot say that the coin system has fake volumes and fake users. I also don't see negative feedback about this exchange.

what if we have coins or tokens that are in that market. it's very difficult to avoid that. whereas coins or tokens only list in that market.

I don't they are the only one that is guilty of this but maybe their own is just too much. There are many exchanges whose volume is influenced by bot trading and this always makes orders not to be passed immediately even if you are willing to sell at current price.

This problem is not exclusive to this particular exchange , there are ton of these fake volume exchanges and are annoying as hell because when i transfer my tokens there i often realize that it is not possible to sell my tokens.
I would like to see that CMC would delist those exchanges that are catched with fake volumes.

When making any sort of transaction crypto or otherwise it is important to look into the service you're using prior to making any sort of transaction. Taking the time into doing a little research into the exchange you're planning on using to make your purchase is never a bad idea as not every exchange is good and some might even be of the scam nature. Being cautious pays off in avoiding bad situations such as being a victim of a shady exchange that turns out to be a scam. So be careful.

I am not aware of sistemkoin, but any exchange that I Haven't heard about I get suspicious about.
I do quite as bit of research and if there's one I haven't heard about yet, then typically it's not a good sign.

Also, what advantage does trading on "the biggest exchange in turkey" give?
Or any exchange that claims to be the biggest in the country.
Crypto is decentralized and distributed, you don't need to be trading on an exchange that is based in your own country.
Is it because of language support? Like it is hard to find Turkish translation support on other exchanges?

but even then, I feel like you can figure out how to trade on and exchange in English.
It is mostly numbers nad abbreviations anyways.

So, my initial reaction is, yeah scam.

I could not read any specific reason for this topic.
If anyone had some problems on our exchange, they can publish this and we can handle the problem.


Do not hesitate to contact with us.
Our twitter account is https://twitter.com/sistemkoin
You can also join our telegram group for announcements https://t.me/sistemkoinofficial

Thanks,

Sistemkoin Support Team

Based on what you these exchanges have fake volume? I see that you have binance, bitfinex, bittrex and many known exchanges.
I find quite weird that they are faking trading volume.

There are a lot of such exchanges and it’s impossible to check them all! But the time will come when they leave the market, as there will be a sufficient number of verified exchanges! In general, use only proven exchanges, there is a lot written about this!