Author

Topic: CoinGecko Adds “Trust Score” to Combat Fake Exchange Volume Data. Can it work? (Read 398 times)

brand new
Activity: 0
Merit: 0
Great article thanks for sharing it!

I think it's a great idea and more platforms should adopt this.

Also thanks for sharing the blogging platform, i've signed up and already earned some HYDRO and DAI tokens (both on CMC, on exchanges and also have a daily trade volume of over 1 million USD. I would recommend this platform to anyone else who wants to earn crypto. You can sign up on the blog post.
brand new
Activity: 0
Merit: 0
I think it's a great idea and more platforms should try to implement this, the more trust we have from centralised exchanges the better.

Also thanks for sharing the blogging platform, I've looked into it and it's great! You can earn DAI (which is listed on numerous exchanges and is a top 100 token on CoinMarketCap) and HYDRO (got a market cap of over 7 million USD). I've signed up and already started earning for free. You can sign up while reading the article. PS I tipped the article, since you showed me a way to earn free crypto!
brand new
Activity: 0
Merit: 0
Hello crypto lovers,

CoinGecko has added a Trust score to exchanges to try to fight fake exchange volumes, do you think this can work?

https://www.publish0x.com/coingecko-publish0x-blog/coingecko-introduces-trust-score-to-combat-fake-exchange-volume-data-xwnzjd?a=GELe3POa69

Also I would check out the platform that the article is written on. It's a new blogging platform where you get crypto for creating articles / upvoting articles. I have been using it for a month and I've already earned more than I had on Steemit.

I'm apprehensive if this can actually work, in theory it is needed, but I don't see how this can be implemented in a fool proof way when most large exchanges are centralised.

It's an interesting read though and the blogging platform looks great, i've signed up to it and already started earning some HYDRO and DAI for free.
brand new
Activity: 0
Merit: 0
Hello crypto lovers,

CoinGecko has added a Trust score to exchanges to try to fight fake exchange volumes, do you think this can work?

https://www.publish0x.com/coingecko-publish0x-blog/coingecko-introduces-trust-score-to-combat-fake-exchange-volume-data-xwnzjd?a=GELe3POa69

Also I would check out the platform that the article is written on. It's a new blogging platform where you get crypto for creating articles / upvoting articles. I have been using it for a month and I've already earned more than I had on Steemit.

It's a great step forward, but i honestly don't know how they will actually pull this off. 

Also the blogging platform is another great way to earn crypto, i've been using it also and it's another great way to earn crypto, especially because they have just added a token that is in the top 100 tokens on CoinMarketCap.
brand new
Activity: 0
Merit: 0
Hello crypto lovers,

CoinGecko has added a Trust score to exchanges to try to fight fake exchange volumes, do you think this can work?

https://www.publish0x.com/coingecko-publish0x-blog/coingecko-introduces-trust-score-to-combat-fake-exchange-volume-data-xwnzjd?a=GELe3POa69

Also I would check out the platform that the article is written on. It's a new blogging platform where you get crypto for creating articles / upvoting articles. I have been using it for a month and I've already earned more than I had on Steemit.

It's a great step forward to combating exchanges that are clearly cheating the system.

Great article, thanks for sharing the content and i've signed up the blogging platform, it's a great way to earn crypto easily and for free. I would recommend the blogging platform to everyone who is looking to earn crypto.
brand new
Activity: 0
Merit: 0
Nice article thanks for sharing the content.

It seems that it is needed as there are too many exchanges that are fiddling the numbers to make people think they are more active.

Also the blogging platform that you have written the article one is a great way to earn tokens as well. You can earn both Bounty0x and HYDRO which are valuable and easily exchangeable. It's another great tool, even if you are not a blogger, you can earn a decent amount of tokens from it, simply by reading great content and liking it.
brand new
Activity: 0
Merit: 0
Hello crypto lovers,

CoinGecko has added a Trust score to exchanges to try to fight fake exchange volumes, do you think this can work?

https://www.publish0x.com/coingecko-publish0x-blog/coingecko-introduces-trust-score-to-combat-fake-exchange-volume-data-xwnzjd?a=GELe3POa69

Also I would check out the platform that the article is written on. It's a new blogging platform where you get crypto for creating articles / upvoting articles. I have been using it for a month and I've already earned more than I had on Steemit.

It's a great idea, i just don't know how they execute what they suggest though. It's a step in the right direction though.

It's a nice read, thanks for sharing the content and i've signed up to the blogging platform. It's a great way to earn some bounty0x / HYRDRO tokens, both of which are on a lot of exchanges and have a value that could grow with the market. I would recommend that anyone who is looking for a way to earn some crypto use it. You can sign up by clicking on the article and signing up on the page.
member
Activity: 672
Merit: 12
unfortunately, fake trading volumes that are hard to detect for outside observers may even turn on exchanges, even not by their will.
Idea of the coingecko platform is quite good, I like it
jr. member
Activity: 107
Merit: 2
It's a great thing to combat the false amounts in theory, i just don't know how it works in real life. Regardless, it's a great step forward.

Sidenote, I would also check out the platform the article is posted on, you can earn 3 strong tokens for simply upvoting articles and creating content. I think they will become bigger than Steemit in regards to users and earnings in the future. Today they added DAI (a stable token in the top 100 tokens listed on CoinMarketCap. I would recommend you sign up to it.
legendary
Activity: 1638
Merit: 1042
It's great to see that they are trying to combat the exchanges and their false volumes.

yes, it's nice to see when they take action against it. of course it's very tempting for the exchanges, but basically it throws a bad
impression on you and also makes for a bad reputation. nevertheless, exchanges like to work with fake volume Roll Eyes
jr. member
Activity: 133
Merit: 2
It's great to see that they are trying to combat the exchanges and their false volumes. Whether this will work though is another thing, as i don't know how they can successfully check their volumes.

Also thanks for sharing the blogging platform, its great and i've been using it for a few weeks, i've earned quite a decent amount of Bounty0x and HYDRO tokens and also today they have added another token DAI which is not just a stablecoin, but also in the top 100 tokens on CoinMarketCap. You can sign up to the platform by clicking on the blog article.
hero member
Activity: 2604
Merit: 816
🐺Spinarium.com🐺 - iGaming casino
I am not sure because it needs to test before it can combat with the fake volume data that is happening on other exchanges. If they can serve the real data, then I think the trader will use it for their analysis and that will help them to trade following the data itself. But still, coingecko needs to stay neutral and not choose one big exchanges because that will not be good for themselves. If they want to combat the fake exchange volume data, they need to be ready for anything that might happen later.
hero member
Activity: 1232
Merit: 503
I think will not really help us. They still not accurate at the moment. You know about bitebtc exchanger ? CoinGecko already mark and give warning but trader still use to trade. This fact tell us trader not really use CoinGecko for know about market reputation.
This would only help if the user uses coingecko to identify the actual exchange volume, having a fake volume doesn't stop real traders to use their exchange, all it do is give the traders confidence, in your case the trader doesn't know the exchange is faking their volume.
member
Activity: 749
Merit: 13
I think will not really help us. They still not accurate at the moment. You know about bitebtc exchanger ? CoinGecko already mark and give warning but trader still use to trade. This fact tell us trader not really use CoinGecko for know about market reputation.
sr. member
Activity: 658
Merit: 250
Coingecko popularity have increased since cmc begin paid listing, this new feature of exchange trust score will further boost their website.
I checked the content publishing website and found it good, pm me your referral link for me to register through you.
member
Activity: 308
Merit: 10
yeah it works, it making we are here can see the rael data trading volume.
but coin gecko is not popular like Coinmarketcap and making this feature is not seeing for all people.
we need to believe that true data to support marketcap to grow to better.
full member
Activity: 644
Merit: 100
Excellent idea, this must be a long time ago to help users to avoid problems. Some exchanges when you selling low cap coins volume just disappears. 
legendary
Activity: 1484
Merit: 1004
For me, it is still less anticipating fraud in trading volumes because this is still unclear in real work and can it be held accountable for all the values given? I think it's still ineffective because it can still move without anyone's knowledge, I hope there is a better concept in anticipating volume forgery, let's look at this concept to what extent it can be useful.
legendary
Activity: 2226
Merit: 1086
Free Bitcoins Every Hour!
Actually, we don't know whether it will work or not because what we need is that the trust of CoinGecko in giving the Trust Score for the exchange reviewed in this.
However, the effort from CoinGecko in order to decrease the face exchange volume should be appreciated, at least, it can add the trust for COinGecko itself and use it as the representation or guidance.
Now, many exchanges use the fake trading volume to gain more members using the exchange. They make certain fake volume and it is deceiving.
So, I only hope that this way can be one of the significant ways to decrease the fake trading volume in the exchanges.
member
Activity: 1022
Merit: 20
RiveMont
I think filtering fake volume is not an easy task and there are many different ways these exchanges use to fake the volume for example buying and selling themselves using dozens of accounts, bot trading is another tool where these bots continuosly setup buy and sell orders just to show that there are hundreds of transactions and trades being performed daily.
member
Activity: 644
Merit: 10
CoinGecko is doing what is good for the crypto community. Although I'm using CMC everyday to track the price in the crypto market. Trust score will give us an idea on what exchanges that have real volume and stay from pump and dump exchanges. I've been trading for a while now and i experienced wash trading and it's common in majority of exchanges.
member
Activity: 546
Merit: 11
A good idea, I think it at least can protect beginners from scams, and ordinary users will be drawn to the exchanges with real volume.
newbie
Activity: 116
Merit: 0
It's needed in the crypto market, there are too many dodgy exchanges that are claiming millions of trades but really there is very little activity from users of the exchanges.

I don't know how they will actually do that though successfully as most exchanges are centralised. Great read though and a step forward, even if it's a small one.

Also great find with the blogging platform, i've signed up to that as well, they have over 9,000 signups and growing, i think they will take the crown of blogging platforms soon from Steemit.
jr. member
Activity: 420
Merit: 1
in the article, it was clear that some exchanges took action by reporting fake trade volume and I think this will add to the confidence of investors to see the real trading volume of each exchange and coin,
fake trading volumes can hurt everyone because some exchanges also use bots to increase the volume of fake trades in crypto exchange.
hero member
Activity: 2940
Merit: 593
Leading Crypto Sports Betting & Casino Platform
Hello crypto lovers,

CoinGecko has added a Trust score to exchanges to try to fight fake exchange volumes, do you think this can work?

https://www.publish0x.com/coingecko-publish0x-blog/coingecko-introduces-trust-score-to-combat-fake-exchange-volume-data-xwnzjd?a=GELe3POa69

Also I would check out the platform that the article is written on. It's a new blogging platform where you get crypto for creating articles / upvoting articles. I have been using it for a month and I've already earned more than I had on Steemit.

I like using Coingecko now, with their new features, it offers a lot of data that can help you with all your analysis on what kind do you like to buy, this is a big help for investors  I used it together with Coinmarketcap for comparison, I started with CMC and very much used to it.
hero member
Activity: 882
Merit: 595
i just visit coingecko to see the trust score but unfortunately, the trust score is not shown.
Is there any setting that i need to do for the trust score to show?
member
Activity: 546
Merit: 12
At the end of the day, these trust doesn't justifythe truth or reality of the matter. The exchange itself is the best entity ti report the true volume and trading stats. Unti then, we'll just argue and argue but we won't actually know what's at stake. Anyways that was a nice move made by Coingecko
full member
Activity: 708
Merit: 103
Empowering crypto w/ sustainable energy
Coinmarketcap also should delist exchanges that will not provide real trading volumes. So why I should trust Coingecko while I can continue using coinmarketcap? Smiley
hero member
Activity: 1414
Merit: 516
I wish it can work, because maybe only on this way the altcoins fake volume can be eliminated and see how much is the volume and the price can grow only if had real support and real trading, and i also see on some exchanges a lot of fake orders.
full member
Activity: 1344
Merit: 110
SOL.BIOKRIPT.COM
I don't know if it will work but doing that would certainly help users around the world. Whenever I check my ether wallet address and saw sudden changes of my portfolios worth I scroll what token or coins did it, I visit and thoroughly check their sites, market place9exchanges) just to see whether it is true because sometimes it was just fake orders that were bought, planning to pump the coin, so it is a job well done for that coingecko.
copper member
Activity: 657
Merit: 1
Yes definitely it will work say 70% because tracing all fake volumes is almost impossible. With more advancement of the trust score feature, just maybe this approach will curb fake volumes from some exchanges. It's really annoying.
full member
Activity: 854
Merit: 102
MoonDeFi
I think this is a good solution to the problem of counterfeit volumes and yes I think it will work so that all exchanges are interested in presenting their real volumes as this is all reputation and it is important for everyone, but in general we will wait and hopefully see positive results.
full member
Activity: 1064
Merit: 102
I salute coingecko doggedness in fighting fake volume, exchange who can't do without fake volume will be exposed with the new development, coinmarketcap should learn from coingecko and use this method to report market volume.
hero member
Activity: 1456
Merit: 579
HODLing is an art, not just a word...
i have always liked these other sites that didn't go the same way as coinmarketcap.com and instead have been trying to be different and fix their obvious mistakes. CoinGecko has always been among those sites that had nice features in their list to sort coins based on things that matter more than market capitalization but still it is not going to be enough because the market is still very chaotic and lots and lots of factors should be considered for every coin which makes it impossible to just come up with the best ones.
that extends to exchanges too. the Trust score they are using is good but it has a lot of room for error and if it takes off there are easy ways of manipulating it and faking it again.
full member
Activity: 770
Merit: 102
Matrix Built On An Ethereum Smart Contract
You already have something similar on Coinmarketcap. You can check exchanges by their adjusted volume or reported volume. Since crypto exchanges are largely unregulated it is very tempting for exchange owners to have a bot do wash trades to increase their volume and thereby the listing fees they are able to demand from new coins that want to capture some of that volume.
hero member
Activity: 3094
Merit: 929
This is old news.I highly doubt it will work.
I still don't know how this "trust score" is calculated and how it can be verified that the info backing the trust score is actually true.It might be fake as well.
Fake trading volume is a problem,but the solution is peer-to-peer trading,not false trust scores.
sr. member
Activity: 798
Merit: 250
CurioInvest [IEO Live]
They are doing a good job for community and ecosystem but right now their system is not working properly.

I just check some pairs and they are not giving accurate results.
newbie
Activity: 152
Merit: 0
Hello crypto lovers,

CoinGecko has added a Trust score to exchanges to try to fight fake exchange volumes, do you think this can work?

https://www.publish0x.com/coingecko-publish0x-blog/coingecko-introduces-trust-score-to-combat-fake-exchange-volume-data-xwnzjd?a=GELe3POa69

Also I would check out the platform that the article is written on. It's a new blogging platform where you get crypto for creating articles / upvoting articles. I have been using it for a month and I've already earned more than I had on Steemit.

I don't know how the system works, but i will read into the article, regardless it is needed as there are too many exchanges that are claiming millions of dollars worth of trade when they simply don't have that amount and it is down to bot trading or exchanges owning accounts and moving around trades. I believe there needs to be more transparency when it comes to the exchanges as they are most centralised and we do not get to see how they work. If they were more open, it would build trust in the community.

Also thanks for sharing the blogging platform, I've been using it for a while and it's a great way to earn some crypto for free. I've already earned more than 6,000 HYDRO tokens and 1,500 Bounty0x tokens. It's nice to be able to earn a token that is listed on multiple exchanges as well as on CMC.
hero member
Activity: 1134
Merit: 515
Hello crypto lovers,

CoinGecko has added a Trust score to exchanges to try to fight fake exchange volumes, do you think this can work?

https://www.publish0x.com/coingecko-publish0x-blog/coingecko-introduces-trust-score-to-combat-fake-exchange-volume-data-xwnzjd?a=GELe3POa69

Also I would check out the platform that the article is written on. It's a new blogging platform where you get crypto for creating articles / upvoting articles. I have been using it for a month and I've already earned more than I had on Steemit.
I believe that it's a good concept, but what I keep wondering is how they want to make this happen because the last time I checked, this exchanges are centralized and no one have access to their back end except from them, so this would be a very difficult task since it would be hard to know which volume is real and which is fake, though I would wait and see how they achieve it when they start.
newbie
Activity: 159
Merit: 0
It's an interesting concept, but how are they coming up with this trust score?

I would like to know more, because this has always been an issue in the crypto world.

Cheers for sharing the blogging platform the article is written on, signed up and already got hold of some tokens for simply upvoting an article (I've upvoted the article you shared as well).

I would recommend this website to all who want to earn tokens for free.

newbie
Activity: 195
Merit: 0
Hello crypto lovers,

CoinGecko has added a Trust score to exchanges to try to fight fake exchange volumes, do you think this can work?

https://www.publish0x.com/coingecko-publish0x-blog/coingecko-introduces-trust-score-to-combat-fake-exchange-volume-data-xwnzjd?a=GELe3POa69

Also I would check out the platform that the article is written on. It's a new blogging platform where you get crypto for creating articles / upvoting articles. I have been using it for a month and I've already earned more than I had on Steemit.
Jump to: