CoinGecko is introducing "Trust Score" to combat fake exchange volume

[xWolfx]

I've stopped using coinmarketcap myself, coingecko is one of the better alternatives that I have been using.  CMC has shown to be untrustworthy by advertising crypto scams and showing fake volume. 

That is a really bad situation and what you did is what customers should do and probably mail them or let them know somehow what they are doing wrong.

They shouldn't be advertising scams at all, they should hire people and set up a process that checks those projects but if they show fake volume for real then they are probably not that good people. Just have to find much more honest ones.

[||bit]

I was very happy with the initiative but i think it needs to upgrade a lot. You can open a feedback area just to do this. Because holders always know is there any real volume on that exchange or not. It is very easy to find out also.

For instance, https://www.coingecko.com/en/coins/semux?utm_content=semux&utm_medium=search_coin&utm_source=coingecko in here, tokok btc/sem pair looks trusted but I know it is fake and only stex has real volume for semux and others are just fake.

https://www.tokok.com/market?symbol=SEM_BTC  just watch a little bit. First, look to the order sheet and later start to watch trade history. You would understand something in right in 5 minutes.


You are on the right path with trust score but if you can't give accurate information you would harm the ecosystem more than fake volume.

[ariyzt]

coingecko really doing something good on cryptoworld, and this trust score to combat fake exchange volume really help some trader to choose which exchhange that can be trusted.

[Adriano2010]

This is good thing. I really hope that also coinmarketcap com will introduce this so we can have a real situation if trust score work as it should work so we can see the real price and volume.

[oseikuf44]

Dozens of crypto projects has recently resorted in manipulating volume by buying and selling their own tokens which is listed on new exchanges as a way to deceive investors that all is well. As coingecko is introducing Trust Score ,will help eliminate fake projects.

[leps]

Hello everyone! CoinGecko is introducing "Trust Score" to combat fake exchange volume. From today onwards, we won't be sorting exchanges by reported volume but will take into account web traffic and orderbook data. 

Full announcement: https://blog.coingecko.com/trust-score/

Great to be acknowledge by CZ from Binance and CoinDesk:
https://twitter.com/cz_binance/status/1127928142859866113
https://www.coindesk.com/coingecko-unveils-exchange-trust-score-to-fight-fake-volume-data

Check it out and let us know what you think!

Great to read these news. It's about time some of these websites start showing the real volume of the market.

That's some good stuff. Though unfortunately since majority are still geared towards CoinMarketCap, I don't think this makes that much of an impact. It's a step forward though; I just wish they'd do a re-make on their UI.

CMC does not show live trading price changes and volume and as more people come to this market they will start to look at other options too. Either coinmarketcap improves their website quality or sooner or later they will be left behind.

[Thyristor]

I've stopped using coinmarketcap myself, coingecko is one of the better alternatives that I have been using.  CMC has shown to be untrustworthy by advertising crypto scams and showing fake volume.  

But CMC is the most popular cryptocurrency price tracking website. You will assure CoinGecko is providing fully real volume?
CMC is something greedy i agree with you because they promoting scam project & those are showing up on the website.

[superscommessebitcoin]

Of course, we are most accustomed to coinmarketcap, but it has its drawbacks. Therefore, we need such projects. There were too many fake exchanges.

[Japinat]

Of course, we are most accustomed to coinmarketcap, but it has its drawbacks. Therefore, we need such projects. There were too many fake exchanges.

Maybe it's time for coinmarketcap now to do the same, they don't want to see people leaving their site because of the inaccurate information, right?
As an investor, we need an accurate information for us to have an accurate decision, this kind of platform really helps but I got used to searching info at https://coinmarketcap.com/,so hope they can act on this the soonest.

[ladyrohana]

more choices of information is better for us and the market

[MonsterV]

Strongly appreciate and support this new policy. This will help traders and investors to analyze coins without having to manipulate market volume.
As it is known to many who think that the coinmarketcap might be a rival of Coingecko, where CMC recently worked with coin developers to manipulate volume, whether this news is true or false, I certainly hope Coingecko becomes the best market overview.

[coin-investor]

Coinmarketcap has a better traffic rank but with these new features Coingecko will pull a lot of traffic, and they can shorten the gap I'm using both but will use Coingecko more because of this new feature, I have no problem on both of their ads since I do my own research when I'm investing.

[Pumared]

Coinmarketcap has a better traffic rank but with these new features Coingecko will pull a lot of traffic, and they can shorten the gap I'm using both but will use Coingecko more because of this new feature, I have no problem on both of their ads since I do my own research when I'm investing.

The tendency is for them to copy this tool. A simple search ends up can prevent several users from depositing money and end up losing.

[hv_]

Good start to clean the shit

[imstillthebest]

Why do CoinGecko think they can provide more realistic data than CMC ?

no they arent only thinking it but they are doing it . coingecko before is already well known due to its accurate and fair information but look what they have here , they are now introducing new features  .

 coingecko is i think really better than cmc because i heard several positive reviews from them while i hear a couple of negative reviews from the side of cmc . some says cmc are llisting manipulative data's from exchanges and from some coins .

[phamminhtan]

Hello everyone! CoinGecko is introducing "Trust Score" to combat fake exchange volume. From today onwards, we won't be sorting exchanges by reported volume but will take into account web traffic and orderbook data. 

Full announcement: https://blog.coingecko.com/trust-score/

Great to be acknowledge by CZ from Binance and CoinDesk:
https://twitter.com/cz_binance/status/1127928142859866113
https://www.coindesk.com/coingecko-unveils-exchange-trust-score-to-fight-fake-volume-data

Check it out and let us know what you think!

I usually use CMC, but this information will make me think, CoinGecko may attract more users, this is a good start, we will wait and see what CMC will do next 😆😆

[Lauren Smith]

Good. I never know what to believe with these so-called volumes. It takes too much time to find out how much data they use and work out if their volume is real or not, besides being out of the grasp of most people.
This is where you come in and do it for us. I trust Coingecko and have always used them. They give you almost all the info if not all of the info you need. Very easy to see and nice graphs.

I wonder what excuses exchanges will have for their bad volume scores on coingecko now that they cannot hide?

[Tonteus]

I doubt that their "Trust Score" will be any different from the CMC

[The Cryptologist]

That could be bad news to several exchanges like Okex, Idax, Bitmax and other shady chinese exchanges. But that is not going to be the case because coinmarketcap is still the leading go-to for traders to check price movements and ranking. I personally don't like the ui of coingecko which looks garbage to be honest. But CMC will follow that then it will ruin the flow of the profit of those exchanges.

[RealMalatesta]

Hello everyone! CoinGecko is introducing "Trust Score" to combat fake exchange volume. From today onwards, we won't be sorting exchanges by reported volume but will take into account web traffic and orderbook data. 

Full announcement: https://blog.coingecko.com/trust-score/

Great to be acknowledge by CZ from Binance and CoinDesk:
https://twitter.com/cz_binance/status/1127928142859866113
https://www.coindesk.com/coingecko-unveils-exchange-trust-score-to-fight-fake-volume-data

Check it out and let us know what you think!

I usually use CMC, but this information will make me think, CoinGecko may attract more users, this is a good start, we will wait and see what CMC will do next 😆😆

You know why it still would not trust their data completely, because they can never be completely truthful, they are just trying to hide under their shady deals, after they have collected money from those exchanges and projects with fake volume, now they are here to list them.

Since may till now, if they were really working perfectly, at least by now, we ought to have seen some changes in whatever it is they have done, but till date, everything that we see is still projects and exchanges with much more fake volumes, if the way they intend to curb it in their own way was effective, at least we should have heard that some dropped from top list to a very low level where they deserve, but we will still give them chance to proof themselves.