Be cautious with new exchanges

[davidmike04]

Well i understand this totally and i must say the best exchange for me is binance, its like the easiest exchange to trade on, very easy , fast transactions and low transaction fees, I am definitely sticking with it no matter what new exchange might come.. Thanks for this tip

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[fanbeila]

Yes.Better to go with the older legit exchanges like poloniex,bittrex,kracken,coinbase.

Usually many new investors get attracted with the low fee or zero fee trading offered by new exchanges and deposit their bitcoins there.

They even have a chance of getting scammed and lose their bitcoins.

[Memenya]

Saw that the highest price for btc is on topbtc.com https://coinmarketcap.com/exchanges/topbtc/

https://mobile.twitter.com/topbtc_com

Homepage is translated from Chinese using Google translate.

Somebody will think they are smart and send some coins there to arbitrage but might not end well.

Not an accusation, but people should be careful

Well, i am lucky to use top exchanger for arbitrage so not just new exchange.  I really never heard notice like this before, now i notice and must be carefull. Thanks mate.

[NavI_027]

It's very alarming to know that bad people found a new way of scamming other than HYIPs and it is surprising that they saw an opportunity through exchanges. It seems that scammers nowadays become more creative and intelligent for them to continue their bad deeds, everyone should be very careful.

I think the least we can do to avoid being scammed is to trust only to the legit exchanges who already proved their credibility in this kind of business. I only trust to Poloniex, Bittrex, Bitfinex and Coinbase.

[MoonJeina]

Bitcoin's increasing popularity is giving birth to many scams . This is turning out to be a demerit for bitcoin . Phishing attact stories are heard on daily basis these days . I am very old school in these matters ,i try to stick with the traditional exchanges for my safety and to be on the safer side .
But it is not easy for new traders to discover which exchange is better . I would suggest to do your homework before you enter into the world of exchanges and dont get caught by the greedy offers of some spam exchanges . Look out for the security of web pages . Secure web pages are generally not spams .

[olushakes]

Saw that the highest price for btc is on topbtc.com https://coinmarketcap.com/exchanges/topbtc/

https://mobile.twitter.com/topbtc_com

Homepage is translated from Chinese using Google translate.

Somebody will think they are smart and send some coins there to arbitrage but might not end well.

Not an accusation, but people should be careful

The headsup is needed and the onus is just on one to be careful at this time but at there should be some responsibility on coinmarketcap to owe people relying on information from their end about the importance of the truthfulness of the sites listed on their platforms. I guess its boils down to no one owes anybody the responsibility of being safe other than yourself. As we have decent people coming in so also people with moral.deficiency finding it easy to scam people of their hard earned resources.

[anitaraymonds]

Thank you for this information, It will help especially the newbie in trading who will get attracted to the higher price at this exchange and then rush there only to get burnt.

[Franz McDinglehofmeisterb]

I probably should not have mentioned a specific exchange, since the one I mentioned is still chugging along and may well be legitimate. Apologies to them if they are a serious exchange.

[Mikado$]

At least they put out a warning at the bottom of the page.

"Risk Prompt
The risk of digital currency transactions with high (pre dug, spike, makers manipulation, team disbanded, technical defects), TOPBTC only for digital currency enthusiasts to provide a free online exchange platform, the investment value of the currency does not undertake any review guarantee, the liability for compensation, if you can not accept, please don't deal! Thank you! Report Mailbox illegal jubao@topbtc.com
TOPBTC tips: Please control the risk, do not invest more than your risk bearing capacity, do not invest in digital money you do not understand."


....and remember, always"Report Mailbox illegal"    

There are always some risks involved in entering the crypto market and you often have to accept and try to minimize the risk that may occur by studying it carefully before making an investment decision.

[JiuMiBe]

At least they put out a warning at the bottom of the page.

"Risk Prompt
The risk of digital currency transactions with high (pre dug, spike, makers manipulation, team disbanded, technical defects), TOPBTC only for digital currency enthusiasts to provide a free online exchange platform, the investment value of the currency does not undertake any review guarantee, the liability for compensation, if you can not accept, please don't deal! Thank you! Report Mailbox illegal jubao@topbtc.com
TOPBTC tips: Please control the risk, do not invest more than your risk bearing capacity, do not invest in digital money you do not understand."


....and remember, always"Report Mailbox illegal"    

There are always some risks involved in entering the crypto market and you often have to accept and try to minimize the risk that may occur by studying it carefully before making an investment decision.

I agree with your perception that with new projects people should be cautious in investing but you can get pretty much if you take risks.

[MURONDI]

Yes.Better to go with the older legit exchanges like poloniex,bittrex,kracken,coinbase.

Usually many new investors get attracted with the low fee or zero fee trading offered by new exchanges and deposit their bitcoins there.

They even have a chance of getting scammed and lose their bitcoins.

I agree with you, better trading in a well-tested and trusted exchange, do not easily tempted low cost, it could be the scam way to attract the victims.

[Jaya912]

It looks like they have a small volume with trades right now, but doesn't really look like a scam exchange. Does anyone here trade on topbtc? I doubt the exchange will be listed on coinmarketcap if it's a fake one, but the price does seem a little fishy.. They also claim to have free exchanges. I wonder how they make money

I dont exactly know if topbtc is scam exchanger or fake exchanger. But one thing that i have to remember and remind everybody, please be aware to new exchanger since sometime it is fake or scam.

[WatchMaker]

Good advice, thanks Of course, there are so many scam bitcoin-related sites, bitcoin mining sites and exchanges. people should be very careful to where they put their coins nowadays. 

[macchiato]

Yes because just recently, some exchanging sites got hacked and there are several victims of this happening. A lot of people loss their money upon entering this site so to be extra careful, try not to risk your money by not accessing this sites just yet.

[John_Slater]

Just use secure exchanges like bittrex and bitfinex

[wayaneka]

To be more safe use only mayor exchange to trade before know about review of that new exchange, use mayor exchange like Bittrex, Bitfinex, Binance, Poloniex, Kraken, Bitstamp is more safe than new exchange. All centralized exchange should be has any regulation to protect trader from any fraud include new exchange.

[Ruz05]

An exchange means the transfer of one char to another or with money. The ancient Dizaman exchange of goods with other goods is called barter. This kind of economy has lasted long ago as money has not been discovered. At that time every item can be exchanged with other goods.
In terms of exchange objects can be identified three types of exchange are:

Real asset exchange (Ayn) with real asset (Ayn)
Real assets account (Ayn) with financial assets (Dayn)
Financial asset exchange (Dayn) with financial assets (Dayn)
Exchange Times.
In the network there are quite a lot of platforms for cryptocurrency exchange, which beginners can cause serious problems with siting ... Be careful when choosing exchange bonus or with crane.

[nicster551]

Just use secure exchanges like bittrex and bitfinex

ithink you should watch exscudo exchange they will lauch in 2018 its a good project also they have a coin eon coin like binance and kucoin you should buy  this coins if you want to make some good profit.

[malikusama]

Good check mate, I appreciate your work to aware others about what you feel fishy, although whether it is a scam or not(because not proven yet) but you have done your job. Everyone should be careful if they are going to link with it.

Qqcoin

https://bitcointalk.org/index.php?topic=389238.0

https://coinmarketcap.com/currencies/qqcoin/#charts

Seems to be an old deadish coin. Maybe that exchange is going to revive it the way cryptopia did dotcoin.

Yeah qqcoin is dead now and they should need to update whether they are going to revive or remove.

[twobits]

Well i understand this totally and i must say the best exchange for me is binance, its like the easiest exchange to trade on, very easy , fast transactions and low transaction fees, I am definitely sticking with it no matter what new exchange might come.. Thanks for this tip

Because the majority of the big exchange sites already applied the strict rules to the users. As you can see how many people are complaining about that. Some of my friends get a lot of problem to enhanched their account to the next level, binance becomes the favourite exchange right now.