Crypto Bad Exchanges

[bithisach]

I absolutely agree with you. We still need to add, they still refuse to restore accounts after losing the codes from the authenticator

what are you talking about, I've lost my 2fa device in the past and it took about a week of emails with support to get it fixed and restore my access, I was surprised to see they acted faster on it than platforms like localbitcoins (which btw took just over 2 weeks), don't recommend losing your 2fa device for your sanity's sake, talking to multiple support teams to restore access is a never ending nightmare.

[iTradeChips]

Based on what I have seen on the link, the exchange has been around since 2017 which means that they have been getting complaints since this year up to now and nothing has done really to stop this. That is really, what I think, the problem with decentralization, it lets hooligans get away with cheating and scamming people if the accusations are true. Problem is I have not heard any individual that has sued them for fraud on any court. Well, it said that the company is Estonian, then somebody from Estonia should ring bells on media to investigate the said company.
Source: https://www.cointelligence.com/exchanges_list/latoken/

[Bes19]

I agree with your list and there are more bad exchanges out there. I had a very bad experience with bitebtc before they use fake volumes to gain traders but once you deposited, you will never withdraw it anymore. Same with Vindax they also use fake volume!

[kawetsriyanto]

Few small exchanges are still good, it's not always about top exchanges, few projects still survives using small exchanges like bitforex and Probit  exchange, not all new projects will be able to go big exchanges, some will even be listed on dex only

I get your point, big exchanges means big funds. And some new projects are hard to do it as only have very limited money. I ever discussed with a developer of a new project, I advised him to list the tokens on top/big exchanges but he speak honestly that has no enough money. In this matter, surely the small exchange is only the option. However, don't list the tokens on the small exchanges that have bad reputation like what we see on OP list. Kindly choose small exchanges that can be trusted enough.

[TitanGEL]

Few small exchanges are still good, it's not always about top exchanges, few projects still survives using small exchanges like bitforex and Probit  exchange, not all new projects will be able to go big exchanges, some will even be listed on dex only

I get your point, big exchanges means big funds. And some new projects are hard to do it as only have very limited money. I ever discussed with a developer of a new project, I advised him to list the tokens on top/big exchanges but he speak honestly that has no enough money. In this matter, surely the small exchange is only the option. However, don't list the tokens on the small exchanges that have bad reputation like what we see on OP list. Kindly choose small exchanges that can be trusted enough.

Actually many good projects are failing because of the listing, they are saving a lot of money and that is why their tokens are only listed in small exchanges. It is really true that big funds are required when it comes to listing in big and trusted exchange like Binance. Those exchange have higher listing price and only few projects are managed to list their tokens there.

[peterlustig]

Does anyone here use the MXC exchange? I bought some DOS network token on MXC and made a withdrawal request a few days back but now I saw that they cancelled my request and am not able to withdraw them anymore. The only option is to trade them.

[bithisach]

HITBTC, stole my money, so Hitbtc, blacklist. They ask to go through KYC, but they do not give the withdrawal of money!

SOrry to be a bit pedantic, but do you mean "stole" as in, they had an issue with your KYC and you didn't bother answering? I've seen it happen too many times, it's just a matter of reading their emails thoroughly.

That's how I was able to finally get my KYC done, I realized the last few emails they had sent me all asked for a PHOTO of my passport, I was sending a scanned document, so I did, and once I sent the PHOTO as they had requested and it wasn't more than 2 hours that I Was able to use my account normally again. Maybe try contacting them once more and see if you can get your issue fixed!

[jerrison]

I'm just trying to do my part, I know many won't care and some don't even bother to read anymore, they are just here for bounties, here is for those who cares about reading and learning.

Stay away from the following exchanges, I have bad experience with them already and I can still see few people getting caught in same trap

1. Vindax
2. Systemkoin
3. P2PB2B
4. Latoken

Not just for fake volumes and watched trade but scams, lose of funds, swapping of withdrawal addresses, you name it, have a great day

We know loads of these kind of experiences go on in the space but i think it will be ideal to accompany your advice with some pictorial evidences that will veto your point and also people can also go carry out findings around the transactions just to verify that you have not violated their policy.

[Inkdull]

New projects will get listed on any exchange they can only afford, I don't blame them when they go small exchange, it's on investors to make decisions on which project they will invest money on, it's just clear that projects from top exchanges are always successful

[torrantz]

New projects will get listed on any exchange they can only afford, I don't blame them when they go small exchange, it's on investors to make decisions on which project they will invest money on, it's just clear that projects from top exchanges are always successful

to be honest, small exchange is fine but not those exchanges with history of shady and nasty activities. However, if a new project still choose those kind of shady exchange then it means their popularity will be doomed and no one gonna put their money to invest to something that's just kinda obvious.

[LazerPanther]

New projects will get listed on any exchange they can only afford, I don't blame them when they go small exchange, it's on investors to make decisions on which project they will invest money on, it's just clear that projects from top exchanges are always successful

But if they don't try to be listed at major exchanges, I believe their project will fail and crash in this market. I have seen many projects die because they listed on small exchanges, the price collapsed hundreds of times after that

[Teraboy]

New projects will get listed on any exchange they can only afford, I don't blame them when they go small exchange, it's on investors to make decisions on which project they will invest money on, it's just clear that projects from top exchanges are always successful

The top exchange will always give guarantee like a better community as it has a very large community behind it while at the same time the top exchange sites have very big volume too that can bring the new token a lot of demand.  When the project qualified to be listed top exchange sites and then it will never try to apply for small exchange site.

[Justin999]

 I've exprianced trade on those exchanges that op mentioned above. I didn't face any kind of losing fund or withdraw problem. But i notice those exchanges are using bot, to increasing token trade value. I saw there buy and sell a lots of token within sceonds but there were no such kind of buy sell order. That make me confused

[timmmers]

I am still thinking about what makes these exchanges so attractive that people are using them? They do not have lower fees, they do not have customer service on a level like Binance, they do not have more coins listed on the exchange. Only what they can offer is a fake volume. 

[cryptothreads]

I'm just trying to do my part, I know many won't care and some don't even bother to read anymore, they are just here for bounties, here is for those who cares about reading and learning.
Stay away from the following exchanges, I have bad experience with them already and I can still see few people getting caught in same trap
1. Vindax
2. Systemkoin
3. P2PB2B
4. Latoken
Not just for fake volumes and watched trade but scams, lose of funds, swapping of withdrawal addresses, you name it, have a great day

Agree with you sir. I've exprianced trade on those exchanges. I didn't face any kind of losing fund or withdraw problem. But i notice those exchanges are using bot, to increasing token trade value. I saw there buy and sell a lots of token within sceonds but there were no such kind of buy sell order. That make me confused

Everyone and traders do not trust most of these exchanges should be careful when deciding to invest. I have tried trading at Latoken in the past, but the service at this exchange is very bad and the coins listed here have no liquidity, making me often lose money.

Besides, IEO projects here should be avoided because you certainly will not be able to make any profit here.

[MonsterV]

there is much exchange that using bot to pump their volume, look back few year ago, Exrates is very popular exchange that using fake bot to get them into top 1 volume on coinmarketcaps for popularity. for me there is only 1 exchange that i use for trading that having really good pure volume is only Binance, why i love binance? because they dont really ask about kyc for withdrawls below 2 bitcoin.

[royalfestus]

HITBTC, stole my money, so Hitbtc, blacklist. They ask to go through KYC, but they do not give the withdrawal of money!

SOrry to be a bit pedantic, but do you mean "stole" as in, they had an issue with your KYC and you didn't bother answering? I've seen it happen too many times, it's just a matter of reading their emails thoroughly.

That's how I was able to finally get my KYC done, I realized the last few emails they had sent me all asked for a PHOTO of my passport, I was sending a scanned document, so I did, and once I sent the PHOTO as they had requested and it wasn't more than 2 hours that I Was able to use my account normally again. Maybe try contacting them once more and see if you can get your issue fixed!

Hitbtc mostly look like a trap for trading. I am still trap with some token there and the transaction fee is ridiculously high. Even at this moment the transaction fee for both Ethereum and bitcoin is more tha $10, same coin value since 2018 December when the price was at the bottom, I wonder they dont do any review on the exchange and market price at all. It will remain difficult for any exchange to be better than Binance with low transaction fee and I think is a great factor for the volume traded daily.

[xOdiumNostrumx]

I am avoiding low liquidity shady exchanges as much as possible, but lately I have been forced to use a certain obscure exchange and had really shitty user experience. It is kinda understandable that their operation is not running as it should if you take into account how young their exchange is, but damn, inability of setting limit buy orders or withdrawing funds, that is just too much and it definitely leaves a strong bitter aftertaste.

[Metall303]

I am still thinking about what makes these exchanges so attractive that people are using them? They do not have lower fees, they do not have customer service on a level like Binance, they do not have more coins listed on the exchange. Only what they can offer is a fake volume. 

the problem of volume cheating is the most actual problem today. we don't have any services which can now check is this volume are real or not

[Erumo]

I am still thinking about what makes these exchanges so attractive that people are using them? They do not have lower fees, they do not have customer service on a level like Binance, they do not have more coins listed on the exchange. Only what they can offer is a fake volume. 

the problem of volume cheating is the most actual problem today. we don't have any services which can now check is this volume are real or not

What about the eyes? Bots on some exchanges buy and sell same amount of cryptocurrency, and spotting them and cheated volume is easy.
However, you will never know what is the real volume. Everyone cheats in the race of being first in top. So I would not count cheating in volume to be the biggest problem of exchanges.