Be cautious with new exchanges - page 4.

DjTremor

full member

Activity: 151

Merit: 100

Quote from: danherbias07 on December 12, 2017, 04:24:56 PM

I truly believe that could happen.
Maybe some of the users that comments here are already looking at it.
It is still a risk so hold your horses. Grin

Just go to the legitimate ones which names are already known for trust ratings and they are tried and tested.
Better to just profit a little than lose it all.

There should be system to verify exchanges' trade volumes. One can claim they have 100M dollars trade volume in BTC/USDT but how to verifty this? Maybe there is no actual trade volume.

Willitivity

sr. member

Activity: 1190

Merit: 256

As the CryptoWorld bis getting more advanced and gaining new entrants, exchanges have also been popping up everywhere.
It's always very good to make a very close study before using any exchange, this even applies to older exchanges too.
Most new exchanges have Very low trading volumes and transactions/orders take long to complete/fill.

danherbias07

legendary

Activity: 3248

Merit: 1130

Leading Crypto Sports Betting & Casino Platform

I truly believe that could happen.
Maybe some of the users that comments here are already looking at it.
It is still a risk so hold your horses. Grin

Just go to the legitimate ones which names are already known for trust ratings and they are tried and tested.
Better to just profit a little than lose it all.

CryptoWir

newbie

Activity: 2

Merit: 0

At least they put out a warning at the bottom of the page.

"Risk Prompt
The risk of digital currency transactions with high (pre dug, spike, makers manipulation, team disbanded, technical defects), TOPBTC only for digital currency enthusiasts to provide a free online exchange platform, the investment value of the currency does not undertake any review guarantee, the liability for compensation, if you can not accept, please don't deal! Thank you! Report Mailbox illegal [email protected]
TOPBTC tips: Please control the risk, do not invest more than your risk bearing capacity, do not invest in digital money you do not understand."

....and remember, always"Report Mailbox illegal" Huh

Uses

member

Activity: 84

Merit: 10

It looks like they have a small volume with trades right now, but doesn't really look like a scam exchange. Does anyone here trade on topbtc? I doubt the exchange will be listed on coinmarketcap if it's a fake one, but the price does seem a little fishy.. They also claim to have free exchanges. I wonder how they make money

Franz McDinglehofmeisterb

jr. member

Activity: 35

Merit: 1

Quote from: Herbert2020 on December 06, 2017, 03:01:20 AM

Quote from: Franz McDinglehofmeisterb on December 06, 2017, 12:13:15 AM

Saw that the highest price for btc is on topbtc.com https://coinmarketcap.com/exchanges/topbtc/

this link from coinmarketcap.com doesn't show any fiat market. it is only showing a couple of altcoins which are being traded with bitcoin and the prices look normal to me. i didn't check every single one but the tip ones like ETH and LTC seem normal.

checking the website of it also shows the same thing. they also have some fiat market which coinmarketcap doesn't list. i couldn't figure out what currency it is because it was called "QQC" and i can not find what it stands for. and the price was 81,000 QQC which doesn't match anything like CNY, JPY or RUR.

Going to the exchange tab of coinmarketcap Bitcoin, then clicking on Price to sort by price, it does show a lot of prices in terms of altcoins rather than Fiat, I guess it is mostly accurate though. If it lists for example a high USD value for btc in a btc\ltc market, ltc is large and liquid enough that it should be close, but odd small coins I guess not.

Qqcoin

https://bitcointalksearch.org/topic/ann-qqcoin-scrypt-jane-asic-resistant-n-factor-multipool-resistant-389238

https://coinmarketcap.com/currencies/qqcoin/#charts

Seems to be an old deadish coin. Maybe that exchange is going to revive it the way cryptopia did dotcoin.

Herbert2020

legendary

Activity: 1946

Merit: 1137

Quote from: Franz McDinglehofmeisterb on December 06, 2017, 12:13:15 AM

Saw that the highest price for btc is on topbtc.com https://coinmarketcap.com/exchanges/topbtc/

this link from coinmarketcap.com doesn't show any fiat market. it is only showing a couple of altcoins which are being traded with bitcoin and the prices look normal to me. i didn't check every single one but the tip ones like ETH and LTC seem normal.

checking the website of it also shows the same thing. they also have some fiat market which coinmarketcap doesn't list. i couldn't figure out what currency it is because it was called "QQC" and i can not find what it stands for. and the price was 81,000 QQC which doesn't match anything like CNY, JPY or RUR.

wowanstrong

hero member

Activity: 621

Merit: 500

Quote from: Franz McDinglehofmeisterb on December 06, 2017, 12:13:15 AM

Saw that the highest price for btc is on topbtc.com https://coinmarketcap.com/exchanges/topbtc/

https://mobile.twitter.com/topbtc_com

Homepage is translated from Chinese using Google translate.

Somebody will think they are smart and send some coins there to arbitrage but might not end well.

Not an accusation, but people should be careful

There have always been scammers who, under the guise of a stock exchange, have turned their bargains and laundered money. You need to be careful and accurate and use only proven sources.

rommelzkie

full member

Activity: 294

Merit: 125

Quote from: Franz McDinglehofmeisterb on December 06, 2017, 12:13:15 AM

Saw that the highest price for btc is on topbtc.com https://coinmarketcap.com/exchanges/topbtc/

https://mobile.twitter.com/topbtc_com

Homepage is translated from Chinese using Google translate.

Somebody will think they are smart and send some coins there to arbitrage but might not end well.

Not an accusation, but people should be careful

For more security just stick with the proven exchanges like:

Bittrex
Bitfinex
Binance
Poloniex

However if your a long term holder. it is much better to store your crypto in a hardware wallet. dont leave it on exchanges.

passwordnow

hero member

Activity: 3066

Merit: 577

Leading Crypto Sports Betting & Casino Platform

That's right everybody should be careful of those new exchanges out there and thanks for the heads up. I know that there are too many greedy traders out there but we had to be cautious with it. Just trust those exchanges that are operating and also think of those phishing links and be aware that because of the high price of bitcoin now and other alts too, hackers are active too.

thesmallgod

full member

Activity: 1498

Merit: 129

it is traders work to make alot of research about a particular exchange website before entrusted them with his/her coin. exchange platform are on increase as market for crypto continue to grow. however despite the fact that there are still some good exchange platform. some new exchange site are really scamy. i have read so many news on telegram on how buy order of some customer are inflated with consent of the customer. imagine i place a buy order to buy 500 token and after making transaction you discover that you bought 1000 tokens.

13abyknight

sr. member

Activity: 602

Merit: 252

There are lots of fake exchanges on the rise recently and the community needs to be informed to save individuals from sending coins to the exchanges. It is very easy to fall for these as look genuine at first look.None the less, thanks for providing us with a heads up and saving people from falling prey to one of those counterfeit scums.

Franz McDinglehofmeisterb

jr. member

Activity: 35

Merit: 1

Add, THIS MAY WELL BE A LEGITIMATE EXCHANGE

Saw that the highest price for btc is on topbtc.com https://coinmarketcap.com/exchanges/topbtc/

https://mobile.twitter.com/topbtc_com

Homepage is translated from Chinese using Google translate.

Somebody will think they are smart and send some coins there to arbitrage but might not end well.

Not an accusation, but people should be careful

Topic: Be cautious with new exchanges - page 4. (Read 800 times)