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Author Topic: EXRATES.ME is a scam Exchange  (Read 24218 times)
Kumarodus
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June 16, 2018, 02:29:50 PM
 #1

Hello all,

As a crypto community member, it’s important to warn all community members that the exchange called Exrates.me is a Scam exchange.

Please don’t list your projects on this so-called Jakarta based exchange

We have investigated them and these are the conclusions:

1. This exchange manipulates its coinmarketcap information, constantly showing a trade volume of usd42m, when there is less than usd200k volume daily

2. All trades are manually manipulated by the Exrates team and it’s not possible to execute any trades

3. Withdrawals take forever to be processed and your deposits get lost with no explanations

4. All the twitter followers and likes are fake, and any announcements of coin listing are just mere scams

5. The trade engine is virtually non existent and everything seems done by hand

Please stay away from this exchange. They charge 3 BTC for listing and their exchange is simply fraud!!

EXRATES.ME is SCAM!!!!

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Ludji
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June 20, 2018, 08:30:47 PM
 #2

Do you have evidence to support these claims? I'm finding them slow also, but not sure wheter they are a scam.

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July 14, 2018, 12:03:50 PM
 #3

I agree this exchange is not good.
They charge total 1%(0.5% as Exchange Fee, 0.5% as Merchant Fee) when withdrawing from the wallet and I have never heard this kind of huge fee.

I also found fake tradings that there were no exact sell/bye orders but showing many trades on the trading history.
Look at ETH/BTC for example. Orders are so small but the volume is massive.

Still did not made any withdraw yet but I am so afraid if I can move my assets to other exchange.
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July 14, 2018, 12:10:19 PM
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I have never heard of them before and looks like they don't have much volume so those 3 BTC fee to get listed seems quite high.
I don't have any experience with them and I always try to avoid new exchanges like this, I can't trust some random guy with my hard earned money.
OluwaTosin10
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July 14, 2018, 12:13:37 PM
 #5

I don’t know about this exchange but their terms seems ridiculous to be honest
But still, there is a need for you to provide proofs to this claims because there are several users on this forum and they will be eager to find out more about is

Remember crypto currency is about volatility and Research
Awesomus Maximus
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July 14, 2018, 12:48:44 PM
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Please stay away from this exchange. They charge 3 BTC for listing and their exchange is simply fraud!!


I actually tried to register with them, but never received the verification code which was necessary to log in. I guess I may consider myself lucky for that. Thanks for the heads up.
bayudndy
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July 14, 2018, 12:52:48 PM
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Careful about new exchange right now, too much scam exchange. I think we should to be carefully in this time

OuterTech
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July 14, 2018, 01:01:19 PM
 #8

Can you give some picture as proof about what you listed out? I think it'll help people believe in you and your report as well Smiley. I can easily say that anyone is a scammer but nobody will believe me if I don't have any proof about that. Beside you should be patient if you're going to use a new exchange until there are some reports about it on the interenet or in this forum Smiley

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July 14, 2018, 01:06:05 PM
 #9

Hello all,

As a crypto community member, it’s important to warn all community members that the exchange called Exrates.me is a Scam exchange.

Please don’t list your projects on this so-called Jakarta based exchange

We have investigated them and these are the conclusions:

1. This exchange manipulates its coinmarketcap information, constantly showing a trade volume of usd42m, when there is less than usd200k volume daily

2. All trades are manually manipulated by the Exrates team and it’s not possible to execute any trades

3. Withdrawals take forever to be processed and your deposits get lost with no explanations

4. All the twitter followers and likes are fake, and any announcements of coin listing are just mere scams

5. The trade engine is virtually non existent and everything seems done by hand

Please stay away from this exchange. They charge 3 BTC for listing and their exchange is simply fraud!!

EXRATES.ME is SCAM!!!!


Is this real? Do you have any informative links to your accusation? Please post it here so that there is a valid proof that states they are a scam. Two of the coins I knew that listed already in exrates, and these two coins are already in my wallet however, I think this coins are also shitcoins that's why they will list it on a scam exchange.
Glastar
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July 15, 2018, 02:33:41 AM
 #10

I agree this exchange is not good.
They charge total 1%(0.5% as Exchange Fee, 0.5% as Merchant Fee) when withdrawing from the wallet and I have never heard this kind of huge fee.

I also found fake tradings that there were no exact sell/bye orders but showing many trades on the trading history.
Look at ETH/BTC for example. Orders are so small but the volume is massive.

Still did not made any withdraw yet but I am so afraid if I can move my assets to other exchange.

Just a note I was able to send my coins to different exchange but took 5hrs to process from here and seems they do manual for withdraw.
coinkopacz
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August 07, 2018, 05:02:35 PM
 #11

Exrates stolen me 30 xmr.
Mikelorr
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August 19, 2018, 12:45:57 PM
 #12

Yes i have to agree. with the fake buy and sell orders. just go there and watch BRB for 20 mins with no sell orders and miraculously there will be a buy order with no coins for sale it's just not possible. As for withdraw and deposit i can't confirm as i had no problems
bttmember
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August 19, 2018, 01:22:07 PM
 #13

If they are showing fake volume on cmc then maybe cmc is part of speculatiin, i think cmc should also check such stats and make sure they are correct because millions of traders and investors usually check the stats on cmc before making buy sell decision.

czynatagmz
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August 19, 2018, 08:05:49 PM
 #14

If what an exchange offer is too good to be true....then be on the alarm.
Always confirm an exchange review before trading on it.
SaepulMT
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August 20, 2018, 06:59:29 AM
 #15

This is my experience too now that I have entered the token in the Market? Is there another way to solve this problem, my tokens are a fair amount, please give me a briefing on how to make money from and out of the market.
I just found out now that exrate.me is a bad market and it is unclear how they carry out the market function
KobbyC
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August 20, 2018, 07:06:18 AM
 #16

This is my first time hearing about this exchange. I hate new exchanges that I am not sure of, it will be good to do exchanges on the popular and known ones. Thank you all for sharing, it will save many.
flyingplows
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October 08, 2018, 08:38:18 PM
 #17

I don't know scam or not, but they are mentioned at many places on the net, especially when talking about small btc forks.. One thing that is really bad there is ridiculously high minimum withdraw amounts for shitty worthless coins that have little value whatsoever and you need a ton of them to do so. Or ton of them to dump and exit  Smiley

Docbee
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October 08, 2018, 08:49:23 PM
 #18

I haven't use the exchange before though the day i try to sign up it was very slow like snail apart from that i have read a lot of bad review about this exchange.
flyingplows
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October 10, 2018, 03:36:57 PM
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Any advice on what crypto currency has relatively lowest withdrawal limit there? Smiley

Leah38
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October 13, 2018, 11:42:03 AM
 #20

Any advice on what crypto currency has relatively lowest withdrawal limit there? Smiley
Hi! I prefer Ethereum withdrawals in every exchanger I use. It has lower withdrawal fees compared to bitcoin. Well not unless there's no ethereum withdrawals available which is maybe rare. If I have to trade on a btc pair, I convert my btc to ethereum before withdrawing it. Maybe its a case to case basis. Whether you may need btc too so you just have to face those high withdrawal fees.
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