Cryptocurrency Exhanges - South Korea

Kelvinid

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Activity: 2828

Merit: 344

win lambo...

Quote from: shesheboy on March 10, 2019, 01:50:15 AM

Quote from: meanwords on March 05, 2019, 09:05:23 AM

That's why I use decentralized exchanges now for trading and transacting. I seldom use centralized exchanges anymore because of these issues and more, like security. Be careful guys.

dex exchanges are known to have less volume though they are more private but not all centralized exchanged are having an issues and the coin listing also differ on both types of exchanges . south korean based exchange are indeed hot but not because of the known issues but because most of their exhcange are becoming indemand compare to other country based exchanges .

so what if the volumes are manipulative ? just trade coins that are legit and avoid those new/unpopular ones , you'l be just fine . volume is not really big issue to me .

I'm using some centralized exchanges also and it works fine for me, the only problem is that we can't certainly get a good price for our coin due to its market volume. How the team could work on it and it may attract more traders and investors surely. Cause traders will look for huge volume exchanges as there is a way that they'll can find nice price and gain more profits.

Crypdon

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South Korea is a country that is pushing crypto forwards, stamp out those scammers and deliver quality exchanges. Preferably safu ones that don't get hacked by the North Koreans

bitgolden

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Quote from: meanwords on March 05, 2019, 09:05:23 AM

That's one way to stop those manipulators. Maybe other medium to big exchanges do that too. That's why I use decentralized exchanges now for trading and transacting. I seldom use centralized exchanges anymore because of these issues and more, like security. Be careful guys.

Yes, I hope this truly stops manipulators because it’s just their ways and it’s no longer a new thing either. This is not just applicable to south courier alone but even in Europe.

I think the idea of faking trades and increasing volumes is to deceive incoming investors and that is really unfair but just like you said it’s better to just use decentralized exchanges for trading and even for security reasons which is what I do also.

shesheboy

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Activity: 714

Merit: 114

Quote from: meanwords on March 05, 2019, 09:05:23 AM

That's why I use decentralized exchanges now for trading and transacting. I seldom use centralized exchanges anymore because of these issues and more, like security. Be careful guys.

dex exchanges are known to have less volume though they are more private but not all centralized exchanged are having an issues and the coin listing also differ on both types of exchanges . south korean based exchange are indeed hot but not because of the known issues but because most of their exhcange are becoming indemand compare to other country based exchanges .

so what if the volumes are manipulative ? just trade coins that are legit and avoid those new/unpopular ones , you'l be just fine . volume is not really big issue to me .

okala

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Activity: 980

Merit: 114

The anonymous nature of the cryptocurrency industry have made it easy for big player to be able to manipulate the market easily, most especially the big exchange owners who carry out some criminal act all in quest to make large profits off the market.

jhongzjhong

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Quote from: Altero on March 09, 2019, 08:36:10 PM

It feels to me disappointed of their exchanges, mostly all of them are written into their languages which is we can understand. I've visited some if their exchanges and tried to registered with one of them and so I can sell my tokens but somehow it turns me off since I can't proceed cause I really don't understand the words appears even we choose English language.
I'll doubt if they could attract more investors. Hope they'll improve it.

I had registered Korean exchange before but there's an option there to set into the English language just like coinrail.co exchange they are from Korea base. I don't understand why there are some exchanges did not have on that kind of option language, they even know English is a universal language that used a might get their clients friendly. Still, the Korean government did not against crypto and that is the good thing there.

Altero

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It feels to me disappointed of their exchanges, mostly all of them are written into their languages which is we can understand. I've visited some if their exchanges and tried to registered with one of them and so I can sell my tokens but somehow it turns me off since I can't proceed cause I really don't understand the words appears even we choose English language.
I'll doubt if they could attract more investors. Hope they'll improve it.

Bitcoin-Turkiye

sr. member

Activity: 1667

Merit: 271

The South Korean state has done the right thing. the prison sentence is a punishment they deserve. For the big players who are controlling the market, it would be good if they had such prison sentences..

upsidedown75

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Quote from: creeps on January 22, 2019, 08:46:42 AM

I’m wondering if the top exchanges are doing this also considering the volume of the users. Did you feel any doubt right now? Or you’re confident that you are in the right exchange?

Well, this is cryptoworld anything is possible so be safe and protect your coins. Anyway, Kudos to the government of South Korea who keeps on making a good regulations, a greedy people like these deserves that.

It is very common with most exchanges faking their trading volume thereby leading new investors into believing their deceitful ways.

It’s not only in south Korea but am happy that south Korea government have put regulations in place to correct this and I hope other others can follow suit because there is a lot of competition in cryptocurrency market, so many would have to do a lot to make their site look like aside been long in existence, it’s also popular but what they do not know is it is not legal and not in any way right to escalate numbers just to deceive investors.

Kemarit

legendary

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Ok here's the thing, wash trading has been practice many years ago and up to this day, I believed that there a even more wash trading because of the worsening market conditions. If everyone is really wanted to see a comprehensive report as to who's who in this fraudulent business, here it the link: (https://www.blockchaintransparency.org/december-2018-rankings), and the latest reports. Although this is a a good thing specially coming from South Korea, because we all know that they're in the top 5 of most active crypto traders around the world so it makes sense for them to really tighten the grip on their local exchanges. So that it won't give a negative connotations that their government is absolutely allowing this kind of frauds.

Lalafell

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Activity: 812

Merit: 250

I have seen a lot of exchange project in bounty thread and some are Korean team and developer. In addition, South Korea are one of the country who support and allow cryptocurrency. And I think making exchange that have fake volume or bot traders will be result to a negative impact in South Korea cryptocurrency community.

PlusOne88

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I think if they are jailed then we can safely say that the government is really doing their best and that cryptocurrency was not just a thing that everybody or anybody may use to scam people. Doubts may be there but do not be afraid since these concerned people are as well working hard to keep users safe from using the cryptocurrency.

Mometaskers

hero member

Activity: 1764

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This is why I don't trade much now. Always the risk of things like this happening. Not to mention hacking incidents.

But kudos to the South Korean government indeed. It could have went on for longer. Funny considering usually we want government to keep out.

meanwords

full member

Activity: 1624

Merit: 163

That's one way to stop those manipulators. Maybe other medium to big exchanges do that too. That's why I use decentralized exchanges now for trading and transacting. I seldom use centralized exchanges anymore because of these issues and more, like security. Be careful guys.

cizatext

member

Activity: 952

Merit: 41

The sanctions of the the executives of those exchange where made possible due to centralized method of operation and what will now happened to the executives of exchange who are not centralized but decentralized, well kodos to the government that show there is now high level of regulations in the crypto exchange. Because many of them manipulate the trading volume at they wish.

Shenzou

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Activity: 1400

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Quote from: creeps on January 22, 2019, 08:46:42 AM

South Korea was in a hot seat last year because of many issues about cryptocurrency, and this year another news that can affect the market on South Korea.

This is not the first time we heard about the Executives who manipulates the trading volume in South Korea, and it looks like they keep on doing this over again. Recently, another two top executive are being sentenced to jail because of manipulation on the trading volume.

https://www.ccn.com/korean-crypto-exchange-executives-fake-trading-volumes-earn-prison-sentences/

I’m wondering if the top exchanges are doing this also considering the volume of the users. Did you feel any doubt right now? Or you’re confident that you are in the right exchange?

Well, this is cryptoworld anything is possible so be safe and protect your coins. Anyway, Kudos to the government of South Korea who keeps on making a good regulations, a greedy people like these deserves that.

The manipulation and the faking of the trades is something that is not just happening in south Korea, but in other exchanges based around the world, and this is something that is expected to be happening as the current market is flooded with exchange sites, and the cryptocurrency is a market where there is a lot of competition as it is still fairly new, i am sure in there is a lot of things happening under the table in order to make it seem that the site is popular, and i ma glad that something is starting to happen about it and i hope that there would be more investigation and regulation in the market.

millgates

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Activity: 714

Merit: 250

Quote from: Renaldi blackspadeteam on March 05, 2019, 04:09:23 AM

I agree, they deserve this punishment, South Korean regulations should be an example for other countries, hoping that the manipulations will be afraid and discourage them,

for now I only know the crypto exchange with high volume is "binance" whether there are still other exchanges that have large and real volumes.

We should keep thrust to most of exchange site, although manipulation can be happen. Even I heard that more than half of all trade now executed just by a hand full of high frequency traders who use rapid fire computers to essentially force slower investors to give up profits. By the way in this case South Korea has proved that korea has strong and professional law enforcement. Creating a high volume of trades allows the coin candle stick to look stable while demonstrating activity to investors but honestly it can help new coin.

Renaldi blackspadeteam

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Activity: 504

Merit: 100

I agree, they deserve this punishment, South Korean regulations should be an example for other countries, hoping that the manipulations will be afraid and discourage them,

for now I only know the crypto exchange with high volume is "binance" whether there are still other exchanges that have large and real volumes.

setialovers

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Merit: 11

Quote from: crwth on February 17, 2019, 10:43:03 PM

Quote from: mirakal on February 16, 2019, 08:54:58 PM

Quote from: Kez1817 on February 16, 2019, 06:17:25 PM

We are not surprise if some greedy people always find a way to manipulate the market,the volume in trading,..etc,just for their own sake. South Korea has a good staff in government to manage this kind of bad doings of other people on their community. South Korea regulation help to determine bad people inside cryptocurrency.

Everyone can manipulate the market if they have the power, however these people are doing it when they own an exchange.
It's very bias and they are abusing their power for their own advantage so they have to suffer the consequences of their illegal action, which could be a criminal one.

This could also be the reason why some people don't really want to consider Bitcoin or any other cryptocurrency with value. Checking out the ETF stuff that surrounds Bitcoin and wanting it to be used as a traded fund would be mutually beneficial for cryptocurrency users and the people who want to get in it. Maybe things to consider on why it's not being approved is because they are scared of the future and what could happen.

As long cryptocurrency and the market still not regulated by government, Whales can control the price or supply in market. The problem between coin/token price is different among exchanger and thats give a chance for whales to drive the price

nur rochid

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Merit: 100

Quote from: crwth on February 17, 2019, 10:43:03 PM

Quote from: mirakal on February 16, 2019, 08:54:58 PM

Quote from: Kez1817 on February 16, 2019, 06:17:25 PM

We are not surprise if some greedy people always find a way to manipulate the market,the volume in trading,..etc,just for their own sake. South Korea has a good staff in government to manage this kind of bad doings of other people on their community. South Korea regulation help to determine bad people inside cryptocurrency.

Everyone can manipulate the market if they have the power, however these people are doing it when they own an exchange.
It's very bias and they are abusing their power for their own advantage so they have to suffer the consequences of their illegal action, which could be a criminal one.

This could also be the reason why some people don't really want to consider Bitcoin or any other cryptocurrency with value. Checking out the ETF stuff that surrounds Bitcoin and wanting it to be used as a traded fund would be mutually beneficial for cryptocurrency users and the people who want to get in it. Maybe things to consider on why it's not being approved is because they are scared of the future and what could happen.

they seem to want to get money quickly without considering their reputation. therefore I think if it is not fixed it will make the image of Bitcoin dim and I think that with the increasing number of exchange projects now it is expected to become healthy competition

Topic: Cryptocurrency Exhanges - South Korea (Read 590 times)