scam exchange

[lionheart78]

Only three exchange among all the exchange have accurate volume, and binance is one of them most of them give fake market value and at that end up scamming there users. We all need to be careful about fake exchanges around.

I wonder if manipulation does not contribute to fake volume?  Not that I hate Binance  but  I guess you are overrating Binance by stating it has accurate volume.  Are you sure there is no wash trading happening there?

It seems, being shady does not mean it is a scam exchange, unless that exchange took all our deposited money and run away.


Fake volume had been part of any exchange, they cannot control traders that buy their own sell wall, or eating their own buy wall manipulating the volume of their supported coins.  It is that, some exchanges do it themselves to attract more depositors, do a conspiracy with certain token getting commission from that activities.  It is business, often times things are "settled under the table".

[okala]

Enjoys the ignorance of users. Although the cryptocurrency is anonymous, but for exchanges it is necessary to conduct kyc. Then, conducting exchanges, we would know to whom we give our money and from whom it could be received.

The kyc you mentioned is it in the part of the exchange or the users who trade on the exchange, if you talking about the exchange take example from ICO there so many ICO team who conducted kyc but yet ended up as scam and running away with investors found the same thing can happen with scam exchange. In my own opinion any exchange that published fake volume is on the path of becoming scam some day only waiting for the right time.

[jademaxsuy]

Fake volumes were usually being done with a silly exchange. Like to what others had stated that they have done it because of money. Yes indeed they are right because many traders will come to trade in the exchange with higher market cap volume not knowing it was fake. Now, who will.benefit with the fake volumes? Of course the exchange because once a trader doing some trades kn the exchange, there are fees needed to procerd with the trade and that fees will goes to the exchange. This is how an exchange will earn.

[wumBowo]

it got me irked whenever i tried an exchange who had fake volumes.
On my first thought, alright maybe i can sell my coins here since the transaction history is active with a decent amount for each transaction.
Alas, i keep cancelling and put another sell order because my order haven't executed while the transaction history shown the order with lower sell price was executed. 

[Siren]

why there is so many scam exchanges across all cryptocurrency with fake volume

Obviously for money lol

What do you expect from this criminals? And besides as long as there are noob and stupid people around crypto community then the scammers will remain and serve those victims  .

So don't be stupid for you not to become a victim

[freedomgo]

it got me irked whenever i tried an exchange who had fake volumes.
On my first thought, alright maybe i can sell my coins here since the transaction history is active with a decent amount for each transaction.
Alas, i keep cancelling and put another sell order because my order haven't executed while the transaction history shown the order with lower sell price was executed. 

That's the problem, I have experience that also before when I tried to sell my tokens it's hard to sell it at the best price.
What it's showing in the coinmarketcap is different in the actual exchange site.