Fake volume in exchanges

[Bezobraznike]

this incident took place about 5 months ago. No need to worry about it. New ICO always try to exaggerate their original volume to attract new customers. Market cap is about to stable right now.

   It's obscure do they attract new customers or current lose their trust. I'm not
worrying, fake businesses, messing with numbers are not new in economy.
   I believe exchanges that falsifying their volumes will lose customers. New customers will choose exchanges in which they can trust.
   It's not good for business to do anything fake. Good voice travels fast, bad even
faster, it's impossible to hide everything, bad things come to light eventually.
   I believe we will see similar incidents in the future, when you choose exchange
think twice and look what others have to say about them.

[prikitiw]

Fraud is now everywhere in the crypto world You don't have to be surprised if you see something like this, and I don't think there is much we can do about this exchange because nothing is regulated. However, you can still try well to find out exchanges such as Binance, the majority of people have done transactions there and they have no accusation to contribute their volume.

[zolfa]

in my opinion there is no fake volume in the exchange, trading activities are always active every day. volatility and crypto graphs always record its development.

but, if that is true, then it is market manipulation. do positive action and go away from such exchange.

[KXC247]

I have experienced such thing online before now. If its true, it means that such exchanges that are caught doing this should be scrutinized so as not to deceive investors.

[Dr.Osh]

I have experienced such thing online before now. If its true, it means that such exchanges that are caught doing this should be scrutinized so as not to deceive investors.

well, sometimes this is a game from an irresponsible exchanger. I once got things like this, and of course that made me lose. so, when you try a new exchanger, you have to find information first, especially if it's an exchanger that appears suddenly.

[KingBit.io]

Compare the volume of the exchanges here: https://coinmarketcap.com/exchanges/volume/24-hour/

[ghosong]

Be careful in choosing exchanges because some of them are scams like bitpaction, and I don't think there is much we can do about this exchange because nothing is set. However, you can still try well to find out exchanges such as Binance, the majority of people have done transactions there and they have no accusation to contribute their volume.

[freightjoe]

I have experienced such thing online before now. If its true, it means that such exchanges that are caught doing this should be scrutinized so as not to deceive investors.

You forget that crypto is an unregulated market - that means that there is NO-ONE to scrutinize this and exchanges are free to deceive as much as they want

[Ayoofe]

I am surprised still use BOT to maintain daily volume of some coin all in the name to maintain the position on the CMC. There is a project I know of that refused listing on one of these exchanges just because of the fake volume of a thing.

[katri]

i dont find any direct effect on price on the coin. Fake volume will just create uncertainty by the investors to going into that exchange. Hopefully, exchanges team may find ways on how to combat this kind of misinformation.

[lzby2000]

Yes, many exchanges have only a few percent real trading volume, and most offer false trading volume, which is helpful for them to collect fees for new projects to enter the exchange, which is already an open secret of the industry.

[mansilkroad]

At times it's hard to indicate if the volume is fake or not. They do this for marketing and statistic purposes only so even if it's a big exchange like Binance you should be ok.

[monster2]

Legit exchanges only show non-counterfeit volumes such as binance or bittrex exchanges that are really on time the price of each coin price.

[Dewao]

Be careful in choosing exchanges because some of them are scams like bitpaction, and I don't think there is much we can do about this exchange because nothing is set. However, you can still try well to find out exchanges such as Binance, the majority of people have done transactions there and they have no accusation to contribute their volume.

Yeah you are right there are some exchange that we don't need to trust because not all exchange are real, some of them scam us so we need to be careful for looking an exchange, try to trade with those exchange that many people are using.

[boyjack]

Now days lot of exchanges are available to trade or buy crypto currency and more new exchanges will be created in future because crypto currency is spreading all over the worlds, more investors are coming to invest crypto, whenever you select an exchange check there security features, 2fa email activation mobile messages etc... if more secure then your fund also more secured. Binance,Bittrex,Poloniex,Okcoin etc... are main exchanges At first you should stay away from the worst exchanges like Yobit, Etherdelta, HitBTC first then you can trade on Binance, Bittrex, Bitfinex,...if you want but I think it depend on cryptocurrency you're going to trade cause not all cryptocurrency listed on every exchanges. For me, I'm using Binance to trade, it's quite good with a trading mobile app but trading fee is a little bit high.

[george888055]

Decentralized exchanges are going to become more and more important, and it will be much more easier to filter out fake volumes in a decentralized setting

[CrimBit]

That's just their mask to attract more people to use their exchange services. Exchangers are a place to turn digital money with fiat money and there are so many benefits they generate. I don't think that will have much effect on prices because what affects the market is market demand.

[tylerderden]

Found an interesting article in which one guy did some datamining on some popular exchanges and their volumes:

https://medium.com/@sylvainartplayribes/chasing-fake-volume-a-crypto-plague-ea1a3c1e0b5e

Apparently a few of these giants are falsifying their volumes. Maybe because a higher market cap would make people think it's a more trustworthy exchange? I don't know if it's really worth going through all of that effort.

Would this have a major effect on the prices? I know we used to see huge differences in prices in the past, but now you won't see much more than a few percent here and there between exchanges.

Yes that's the reason why exchanges fake their trade volume as if the trade volume will be more then more and more people will join the exchange because it will provide liquidity when the people will sell their coins as the market crashes if some large order is executed and there isn't enough liquidity.

[kerzhake]

if this is really so, then this is an occasion to ponder. it's very bad and to lie to users is to show that you do not respect them

[krishnaverma]

Found an interesting article in which one guy did some datamining on some popular exchanges and their volumes:

https://medium.com/@sylvainartplayribes/chasing-fake-volume-a-crypto-plague-ea1a3c1e0b5e

Apparently a few of these giants are falsifying their volumes. Maybe because a higher market cap would make people think it's a more trustworthy exchange? I don't know if it's really worth going through all of that effort.

Would this have a major effect on the prices? I know we used to see huge differences in prices in the past, but now you won't see much more than a few percent here and there between exchanges.

Of course, they will do that. Crypto world has become very much filled with these suspicious activities which affects the trust of all investors.

An experienced investors might be able to spot such manipulations done by big entities but new investors will fall for this and suffer huge loss. Best option for them is to invest in coins like bitcoin where least manipulation is possible.