Bilaxy - Trustworthy Volume?

[CrypticProsperity]

I've been closely following a low cap project in SRK (Sparkpoint) & it appears to be very promising with a precise roadmap down to the monthly.  Currently just added a listing with Kucoin and more exchange listings coming this year.  My concern is that 90%+ of its volume is through Bilaxy whom has a LOW confidence level with coinmarketcap.  What are some things to take into consideration when understanding majority of volume claims to be there?  Is Bilaxy a trustworthy source for this?

Cheers!

[WalkerIVIV]

As far as i know bilaxy is also manipulating its volume and that's why CMC has been giving low confidence level for bilaxy. Bilaxy is not a trustworthy exchange site but it looks like the volume gets centralized on bilaxy. I won't believe with the data that already sent by bilaxy to the CMC.
CMC is only taking the data from bilaxy's API. You can see that how much the total orders on bilaxy as the main thing to determine whether that's a real volume or not. If there's no order but it shows a lot of daily trade volume and that's manipulated by the exchange site itself.

[jrrsparkles]

Upon checking the reviews of Bilaxy exchange,it involves is shady activities most of the time and it even list tokems and coins without asking the project team which is kind of red flag to be considered as trustworthy. So I won't trust their current trading volume for the project you are talking about and wait for the Kucoin's volume.

[Jawhead999]

Bilaxy exchange trading volume aren't trustworthy, it's manipulated as you can read here [1] [2]

If you're looking for good exchanges who has listed Sparkpoint (SRK) as you mentioned above, you can use KuCoin or Uniswap. For less fee and don't mind about the verification (KYC) you can choose KuCoin.

[1] https://bitcointalk.org/index.php?topic=5224576.0
[2] https://bitcointalk.org/index.php?topic=5171538.0

[Novatech8]

Bilaxy exchange trading volume aren't trustworthy, it's manipulated as you can read here [1] [2]

If you're looking for good exchanges who has listed Sparkpoint (SRK) as you mentioned above, you can use KuCoin or Uniswap. For less fee and don't mind about the verification (KYC) you can choose KuCoin.

[1] https://bitcointalk.org/index.php?topic=5224576.0
[2] https://bitcointalk.org/index.php?topic=5171538.0

Last time I trade on kucoin you can still withdraw without KYC, you are only limited to a certain amount for 24 hours everyday just like binance exchange, have kucoin change their policy again?

[Jawhead999]

-snip-

Last time I trade on kucoin you can still withdraw without KYC, you are only limited to a certain amount for 24 hours everyday just like binance exchange,

Yes, you can still able to withdraw without KYC until now... but since it's centralized exchanges, KYC is mandatory so if you get a "bad day" you could be asked to provide KYC if their system detect something suspicious about your activity.

have kucoin change their policy again?

No, it's still same. But there's an user get asked to submit KYC since he forgot the trading password [1]

[1] https://bitcointalk.org/index.php?topic=5317159.0

[KaratX]

Don't be surprised, almost every small exchanges have manipulated volumes and liquidity, if they don't use manipulations how will their platform get more attentions anyway? I don't blame them completely, I've use bilaxy exchange in the past and just for dumping purpose, it's not a good place for crypto trading

[Sri rahayu]

Until now I have not dared to trade there, somehow I don't believe in the trading volume there. I asked a friend of mine who understands more about trading, and I was prohibited from trading there for such reasons.

[kzel2226]

ihave no idea but last they list the vtx in there self exchange vtx from ido. idon trust the new exchanges maybe soon i trust it after years comming . thats exchanges is low volume they manipulate the volume ithink

[randegibran]

Never use bilaxxy exchange because I see very far away between buy and sell order, I only use binance market for trading and some time MXC, HOTBIT and Bibox when received coin from bounty, so far still not use bilaxxy exchange for trading because many coin from bounty have other exchange listing, I heard billaxy take kyc for withdraw there.

[airdata]

I don’t use Bilaxy exchange as Regularly and also I don’t like and suggest  this type low quality crypto exchange. I believe that not have any Real volume on this exchange so don’t trust this type of exchange, it is my personal opinion.       

[Ifemini]

Never use bilaxxy exchange because I see very far away between buy and sell order, I only use binance market for trading and some time MXC, HOTBIT and Bibox when received coin from bounty, so far still not use bilaxxy exchange for trading because many coin from bounty have other exchange listing, I heard billaxy take kyc for withdraw there.

I do not know why you have a biased opinion about Bilaxy, because they are in the same section alongside Hotbit and bibox. they are not main trading exchanges but there are obvious token listed there alone that you have to trade there no matter what. Also bilaxy do not need kyc either. Just make sure to set up 2fa to every exchange you use and also use a seperate email for bounty and a seperate email for exchanges

[shinratensei_]

As far as i can see if the volume of SRK on bilaxy is good enough and there's a lot of buy order in the market too. That means if the data that already taken from bilaxy is a bit accurate compared with the rest.
CMC will be taking data based on how big the volume that owned by the exchange site at that time.
I have heard that bilaxy has ever scammed its bounty manager called aerys and then the BM is still waiting for the bilaxy team to give back his money.
The volume on bilaxy is fully manipulated for some coins. This exchange is not trustworthy. stay away

[coin-investor]

As far as i know bilaxy is also manipulating its volume and that's why CMC has been giving low confidence level for bilaxy. Bilaxy is not a trustworthy exchange site but it looks like the volume gets centralized on bilaxy. I won't believe with the data that already sent by bilaxy to the CMC.
CMC is only taking the data from bilaxy's API. You can see that how much the total orders on bilaxy as the main thing to determine whether that's a real volume or not. If there's no order but it shows a lot of daily trade volume and that's manipulated by the exchange site itself.

I also would like to add they have one of the highest withdrawal fees some of the coins that I tried to withdraw has over $20 withdrawal fees compared to other exchanges, I would not trade here if I have a choice but the alcoin I'm holding can only be traded here, hence I have no choice I am a victim of their system I will prefer my coins to list on other exchange than trade here.

[randegibran]

I've been closely following a low cap project in SRK (Sparkpoint) & it appears to be very promising with a precise roadmap down to the monthly.  Currently just added a listing with Kucoin and more exchange listings coming this year.  My concern is that 90%+ of its volume is through Bilaxy whom has a LOW confidence level with coinmarketcap.  What are some things to take into consideration when understanding majority of volume claims to be there?  Is Bilaxy a trustworthy source for this?

Cheers!

SRK back to lower price now I see and I think is not good for long term investment, any project just running with short time for raising up to higher price and later back lower price again without any moment how can back higher price, maybe many factor why make coin suddenly dump and not potential back again to higher price, many way how to make coin could be interested by always looking for new exchange for listing.

[Princejebs]

Most of this unpopular exchange always have low volume.
You can check rating platforms to check their trust score, coingecko is one of the popular platforms you can used to compare trading of that particular project you are asking about.
Why not wait for the token to be listed on kucoin and buy as soon as it listed on the exchange. If the project is legit, long term investment will be okay though not a financial advice. 

[Fatunad]

I've been closely following a low cap project in SRK (Sparkpoint) & it appears to be very promising with a precise roadmap down to the monthly.  Currently just added a listing with Kucoin and more exchange listings coming this year.  My concern is that 90%+ of its volume is through Bilaxy whom has a LOW confidence level with coinmarketcap.  What are some things to take into consideration when understanding majority of volume claims to be there?  Is Bilaxy a trustworthy source for this?

Cheers!

The exchange itself is already a shady one, so i wont really be putting up any trust with that and to those coins to had been listed which it might be
part of their modus on locking up their users funds.
https://bitcointalk.org/index.php?topic=5015243.0
https://bitcointalk.org/index.php?topic=5171538.20
with these issues then im sure that i will be skipping out this project.

[bitcon]

I've heard a lot of negative reviews about the Bilaxy exchange. Transactions are not regulated by anyone, you will not be able to prove your case. There is no information about the company and the creators, which is already evidence of dishonest work. I would not advise to cooperate with them, so as not to become their next victims. It is best to work with trusted sites that guarantee feedback, quality service and your safety. Double-check all information about exchanges and coins before trusting anyone your money.