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quierx16
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January 03, 2018, 07:32:41 AM |
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I've been using Kucoin to trade NEBLIO a few days now. Since last night it seems they have started faking trades to push the price/volume up.
Don't believe me? Try this..
Goto NEBL/ETH on Kucoin
Put in a buy order of 1 higher than the top buy order, eg if top buy order is 0.013117 you put yours at 0.013118
Within a minute there will be two trades completed 1 higher than yours at 0.013119, one will be double figures like 45nebls worth and one triple figures like 110 Nebls worth
The completed trades seem completely fake and always follow the same pattern. Don't worry your trade shouldn't go through as there will be no real buyers for yours.
it must be a trade bot. they just put limit to the trade so everytime new trade higher than theirs was put, bot open a new orders. it is common on some exchange |
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Stavri
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January 03, 2018, 06:32:41 PM |
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I dont think it is a scam but kucoin exchange platform is extremely hard to understand. Not user friendly at all. I tried to understand how to deposit some bitcoin. I spent a few minutes to find the link for it. So useless...
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rzunk
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Activity: 6
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January 03, 2018, 07:27:27 PM |
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I noticed it yesterday on prl/btc, this worries me as I have more than few prl on kucoin xchange  |
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gazilla
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Activity: 378
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January 03, 2018, 07:33:48 PM |
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I am a user as well of Kucoin exchange, but I have not noticed the issues you are speaking of, but has given me the idea to keep an eye on this.
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morkriger
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Activity: 55
Merit: 0
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January 03, 2018, 07:37:27 PM |
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Last days I've noticed indiscriminate use of bots especially on markets sponsored by the kucoin carnival DENT, UTK, TFL, etc... when volume in a market is not so big it can be very annoying.
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shaun98
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Activity: 238
Merit: 10
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January 04, 2018, 10:28:50 AM |
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Nah, I don't think they are a scam, though they may be doing it to artificially increase the volume just to attract more users to the platform.
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pearlsome
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Activity: 238
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MST Decentralize Robust AI Trading Platform!
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January 04, 2018, 10:53:52 AM |
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I am a user as well of Kucoin exchange, but I have not noticed the issues you are speaking of, but has given me the idea to keep an eye on this.
I'm not listed on Kucoin Exchange. But I'm going to do it in the near future. As well as you will watch this. This new coin is Kucoin shares. I am very attracted to the opportunity to receive part of the transactions. I've never seen anything like this on the stock exchanges. |
◎ SALE STARTS ON MAY 3rd ◎ UTC+7:00 ◎ ◦ ◈ ◊◊ ◈ ◦ ◦ ◈ ◊ ◦ ◊ ◈ ◦ ◦ ◈ ◊◊ ◈ ◦ |
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FiveReels
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Activity: 168
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January 05, 2018, 03:03:31 AM |
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I am not so sure but as of coin market cap they have figures to present. Maybe on some other projects or maybe someone or other companies or people used their name for any other projects for scamming. Looks likes it's good. Maybe a bot perhaps. I am not so sure. I'll update here once I will have some little more information and research on kucoin.
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Invester
Sr. Member
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Activity: 646
Merit: 252
PNNV.COM Live bitcoin price monitor
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January 05, 2018, 03:08:50 AM |
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I've been using Kucoin to trade NEBLIO a few days now. Since last night it seems they have started faking trades to push the price/volume up.
Don't believe me? Try this..
Goto NEBL/ETH on Kucoin
Put in a buy order of 1 higher than the top buy order, eg if top buy order is 0.013117 you put yours at 0.013118
Within a minute there will be two trades completed 1 higher than yours at 0.013119, one will be double figures like 45nebls worth and one triple figures like 110 Nebls worth
The completed trades seem completely fake and always follow the same pattern. Don't worry your trade shouldn't go through as there will be no real buyers for yours.
Are you new to trading? It seems to me that you are quite not familiar with how trading platforms work. I have been trading in several exchanges and there are always robots or bots playing with you there. That is normal. Bots will not allow you to be on top. They will either lessen or increase their bid or ask prices by either one or two Sats. Do not mind all these bots. If you compete with them, you might end up losing so just name your price, proceed with your order and leave it. Actually, it also depends on the coin. |
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deniskiely
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Activity: 130
Merit: 10
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January 05, 2018, 03:13:06 AM |
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Kucoin is developing very fast. I doubt that it scams , please don't say scam so fast from your mouth !
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Alex_bao
Newbie
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Activity: 48
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January 05, 2018, 05:54:41 AM |
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Please believe me kucoin is the people's exchange, the exchange token kcs rose 30x within three months now binance has closed new user registration, kucoin is currently very good choice
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TraderEst
Newbie
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Activity: 5
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January 05, 2018, 06:39:01 AM |
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That's regular bot trading. And actually there is a good trick against it. If you want to buy, just put out a small sell order, the minimum it takes to move the sell orders down. That way I got the sell orders to move down by 2-3% and got my position way below market price. And vice versa with selling. These bots seem to be quite naive and easy to troll.
Instead of complaining there is always point to try to find a solution.
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Tipstar
Sr. Member
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Activity: 1750
Merit: 278
Smart World Global Token
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January 05, 2018, 06:45:31 AM |
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Can be a selling bot and such things are not new to exchanges. I've too used Kucoin a lot in recent months and I didn't find any things creepy from the site side.
Yobit for example lets bot to trade way below minimum amount.
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anshk
Newbie
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Activity: 56
Merit: 0
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January 05, 2018, 08:35:18 AM |
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I like the exchange but this is very annoying like a cat and mouse game, have something wanted to buy this morning and it keeps making a buy wall right above my buy, i will never over pay for any alt shit coin so this might not be the right exchange for me.
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Cryptoguru274
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January 05, 2018, 08:54:08 AM |
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You need to take time to study Kucoin exchange because there might be something you did understand with their system. I think it's too early to raise the scam alert.
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lelecoeg
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January 05, 2018, 09:03:33 AM |
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However, I don't believe this to be the case. The team is solid and consist of people with solid backgrounds. The CEO has a background from Alibaba, and other Large china based IT companies. The same can be said for many of their staff. They are responsive on Telegram and the CEO himself answers questions on Reddit.
The goal of Kucoin Exchange is to be in the Top 10 Exchanges by June 2019.
In November they plan to release an IOS and Andriod version of their trading platform.
By December they plan to have over 50 cryptocurreny pairs listed.
At the rate they have been listing new tokens, this seems to be an achievable goal.
There are 200 Million KCS tokens, where 100 Million are publicy traded while the other 100 Million is held by them.
Those held by them are mostly locked in which aligns their interest for the long term.
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crimsongoth
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January 05, 2018, 09:54:00 AM |
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Of course, there is a possibility of scam, but my opinion is that there is a situation originating from trade bots.
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jeanpierre
Full Member
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Activity: 308
Merit: 100
The All-in-One Cryptocurrency Exchange
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January 05, 2018, 09:57:50 AM |
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I use Kucoin regularly almost everyday I didn't have any issues so far, maybe you are just unlucky if you try to contact support maybe they will try to help you
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Bitmous
Newbie
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Activity: 16
Merit: 1
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January 19, 2018, 02:23:22 PM
Last edit: January 20, 2018, 09:56:22 AM by Bitmous |
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I had an issue with a withdrawal. the Kucoin website told me that they have been successful to send the tokens to my wallet but the block chain said no. eventually i got through support and they have resend the transaction. all good now.
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Lemer
Member
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Activity: 139
Merit: 10
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January 19, 2018, 02:25:26 PM |
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Kucoin and other exchanges have a serious problem: the problem of false trading volume.
These exchanges treat us as fools, and when we hang up a sales order, they immediately have a sale price below us, which sounds very funny.
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