Dogecoin price is very low on HitBtc

michellee

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Quote from: bitterguy28 on August 24, 2021, 01:06:52 AM

Damn I missed this chance , i have been holding my Dogecoin until now and being late to sell off when the pump happened recently and now i'm badly needed to make them grow.

i know that this is a rare occasion and hope there will be one again.

hope i see this earlier so I will sell all my Doge in other platform and will by Many in HiBtc , but this site is questionable right? for some fishy and unethical way?

If you bought Dogecoin a long time ago at the lowest price, you should not feel bad because Dogecoin can increase back in the future. If you think that selling right now still give you the profit and you think that you can accept the profit, you can sell it right now and leave the Dogecoin market.

But I heard that members who have Dogecoin in HitBTC can not withdraw their money because it still investigates the problem. I do not know if that news is right or just from people who want to spread the wrong info to the public.

bitterguy28

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Quote from: yhiaali3 on July 01, 2021, 02:06:13 PM

I was very surprised when I looked at the price of Dogecoin on HitBtc it was only 0.0869$ while on other platforms and in CoinMarketCap it is 0.246$!!!
Of course no one is trying to arbitrage because HitBtc closed the withdrawal from the platform but left the deposit only.

My question is why this huge price discrepancy between HitBtc and the market and what makes the price drop so much on the exchange and why is the exchange not trying to correct the price to match the market?
Is there a possibility for the price to catch up with the market price?

Damn I missed this chance , i have been holding my Dogecoin until now and being late to sell off when the pump happened recently and now i'm badly needed to make them grow.

i know that this is a rare occasion and hope there will be one again.

hope i see this earlier so I will sell all my Doge in other platform and will by Many in HiBtc , but this site is questionable right? for some fishy and unethical way?

coin police

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stay away from there .
you can deposit all crypto , but when you wanne withdraw it will be offline .
everybody knows when deposit works withdraw also works .
they scam us even more by holding the prices very low like dogecoin and ethereum classic .
check for youself .
they sell your crypto when pumps come and dont let you withdraw untill prices are low again .
the internet is full with complaints .
stay away there and spread the word .

bluebit25

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Quote from: Shasha80 on July 04, 2021, 05:14:31 AM

Quote from: bluebit25 on July 04, 2021, 02:36:10 AM

I don't see anything too special with this problem because there's nothing we can do about it anyway. Moreover, I personally no longer support this coin, perhaps it will be the price of doge coin in the near future.

It's true that there's nothing we can do about the problems experienced by the OP, as HitBtc closed withdrawals for Dogecoin. All the OP can do is
wait for the Dogecoin price on HitBtc to return to normal like other exchanges or wait until the withdrawal for Dogecoin is active again.
And this is a lesson for all of us, to always choose popular exchanges and have a good reputation. As far as I know HitBtc has a problem,
a lot of harm to its users, it's good while we don't make a deposit at HitBtc.

Yes, I don't remember exactly using hitbtc, but it's not a popular exchange to me. Although I haven't had any bad problems with it yet, but this is not only a lesson for OP but also for all of us, only trade on popular exchanges to get many beneficial offers as well as making sure people's assets are safer than conventional exchanges.

jerry0

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Has hitbtc got really bad since years ago?

Ziskinberg

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Quote from: Saisher on July 09, 2021, 02:29:03 AM

Quote from: Hamphser on July 08, 2021, 12:49:13 PM

This is one of the reason on why i dont use Hitbtc anymore because of tremendous fees which is way too far off with known exchangers which it is one of the reasons too
on why there are lots of people left this platform.

My main reason is the many scam reports about HitBtc, not the fee, the fee is the lowest concern the possibility that you can trade here and made a profit but unfortunately, you cannot withdraw because they will not let you and give you many reasons why you cannot withdraw and even restrict your account and charge you with cheating, that's what others exchange are doing and HitBtc is on this category.

Scam accusations are another topic as most exchanges have scam accusations. Our main concern is on why the price is lower compared to other sites and it turns out that this is still not useful for us traders since the withdrawal is still disabled until now.

Saisher

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Quote from: Hamphser on July 08, 2021, 12:49:13 PM

This is one of the reason on why i dont use Hitbtc anymore because of tremendous fees which is way too far off with known exchangers which it is one of the reasons too
on why there are lots of people left this platform.

My main reason is the many scam reports about HitBtc, not the fee, the fee is the lowest concern the possibility that you can trade here and made a profit but unfortunately, you cannot withdraw because they will not let you and give you many reasons why you cannot withdraw and even restrict your account and charge you with cheating, that's what others exchange are doing and HitBtc is on this category.

Hamphser

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Quote from: nomenclatur on July 07, 2021, 10:16:01 PM

it's not new that HITBTC is starting to become unclear, the withdrawal fee is also quite high and this exchange is getting worse and worse, it's very natural for dogecoin to drop so drastically on HITBTC because dogecoin there is only bot volume and also dogecoin fees which make big losses when trading there because of the volume. so small it makes a loss if it is true that there is a different volume decrease compared to other exchanges then it must be avoided because it is very detrimental.

You would really able to notice it on first glance but if you are just a noob then you would really be seeing some opportunity but its not that it looks like on what you do presume.

Low liquidity is one of the reason on why the price is very low and its normal that they would hold out withdrawals for Doge on that case on avoiding some arbitrage on other site.

This is one of the reason on why i dont use Hitbtc anymore because of tremendous fees which is way too far off with known exchangers which it is one of the reasons too
on why there are lots of people left this platform.

Semar Mesem

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Quote from: FinneysTrueVision on July 07, 2021, 04:09:11 PM

I noticed this price difference several months ago but apparently this issue is still going on. HitBTC was one of the first exchanges I ever used because they didn't ask for KYC and they listed some obscure coins I needed to get rid of. Over the years we have heard countless stories of how they scam their users. They force you to do KYC after you've already deposited and they will never approve your account so your money is stuck. Now they suspended Doge withdrawals supposedly for maintenance but it has been months so it looks like something shady is going on.

Thanks dude, this is certainly a lesson for me because i made hitbtc as my second exchange after binance, i will immediately withdraw my assets before the bad things that happen to other users alsso happen to me.

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Quote from: Chato1977 on July 05, 2021, 04:07:00 AM

Quote from: yhiaali3 on July 01, 2021, 02:06:13 PM

I was very surprised when I looked at the price of Dogecoin on HitBtc it was only 0.0869$ while on other platforms and in CoinMarketCap it is 0.246$!!!
Of course no one is trying to arbitrage because HitBtc closed the withdrawal from the platform but left the deposit only.

My question is why this huge price discrepancy between HitBtc and the market and what makes the price drop so much on the exchange and why is the exchange not trying to correct the price to match the market?
Is there a possibility for the price to catch up with the market price?

What can you expect from a scam exchange ? this has been same thing happens in Yobit in the past that they even have offers cheap coins but when you purchase then you are trapped.

so this is normal that only Noob and greed will fall from this traps.

Quote from: ?? on ??

I'm doubting an exchange if they are closing withdrawal and transfer in a long time because that is the time that they can manipulate the market.
Even this exchange is already last long in crypto market, i think right now there are a lot better exchange, just IMO

The question is , "will they really open the withdrawal soon"?

Totally agree with you. because I've also been stuck on Yobit exchange because of this kind of problem. This can be a trap for traders to deposit their funds into HitBtc, then buy DOGE, when they want to withdraw it. they will be surprised that withdrawal is disabled.
If the issue of disabling the withdrawal of a token on popular exchanges like Binance, OKEx, Kucoin and Huobi, I'm sure this issue will be resolved as soon as possible. but if it happens to Hitbtc I'm not sure it will be resolved soon.

nomenclatur

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it's not new that HITBTC is starting to become unclear, the withdrawal fee is also quite high and this exchange is getting worse and worse, it's very natural for dogecoin to drop so drastically on HITBTC because dogecoin there is only bot volume and also dogecoin fees which make big losses when trading there because of the volume. so small it makes a loss if it is true that there is a different volume decrease compared to other exchanges then it must be avoided because it is very detrimental.

DarkIT

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Quote from: FinneysTrueVision on July 07, 2021, 04:09:11 PM

I noticed this price difference several months ago but apparently this issue is still going on. HitBTC was one of the first exchanges I ever used because they didn't ask for KYC and they listed some obscure coins I needed to get rid of. Over the years we have heard countless stories of how they scam their users. They force you to do KYC after you've already deposited and they will never approve your account so your money is stuck. Now they suspended Doge withdrawals supposedly for maintenance but it has been months so it looks like something shady is going on.

Some exchanges use this strategy to get our money unders their custody. At first, they won't ask us to do kyc. Then we invested huge money in that exchange. This dogecoin at low price maybe the strategy to investors towards them. I had not have experience over this exchange. Experience people kindly reply for this.

Ziskinberg

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Quote from: FinneysTrueVision on July 07, 2021, 04:09:11 PM

I noticed this price difference several months ago but apparently this issue is still going on. HitBTC was one of the first exchanges I ever used because they didn't ask for KYC and they listed some obscure coins I needed to get rid of. Over the years we have heard countless stories of how they scam their users. They force you to do KYC after you've already deposited and they will never approve your account so your money is stuck. Now they suspended Doge withdrawals supposedly for maintenance but it has been months so it looks like something shady is going on.

And this is to verify that HitBTC is not a good exchange, maybe I was lucky that they never compromise from my withdrawals but I have no interest to use this platform again it doesn't matter if they never ask KYC.

The more they manipulated and faked trading volumes the more they got not trust from the community. They can't fool us and definitely, they never win against us. They have a lot of withdrawal issues that need to address otherwise, this platform will going to its end.

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I noticed this price difference several months ago but apparently this issue is still going on. HitBTC was one of the first exchanges I ever used because they didn't ask for KYC and they listed some obscure coins I needed to get rid of. Over the years we have heard countless stories of how they scam their users. They force you to do KYC after you've already deposited and they will never approve your account so your money is stuck. Now they suspended Doge withdrawals supposedly for maintenance but it has been months so it looks like something shady is going on.

CutePanda

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yes, after I opened HitBTC, it is true that the price of Dogecoin is quite low, even very low, based on my observations, quite a lot of traders buy Dogecoin from Hitbtc and sell it on other exchanges to benefit from the price difference from several exchanges.

adaseb

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You know the saying, if its too good to be true, it usually is.

Now if the arbitrage was something like 1%, then I would think its legit. But this huge spread means that something isn't right. You don't even need to investigate that there are withdraw issues with the exchange.

I remember years ago when MtGox went down, there was crazy arb opportunites but nobody wanted to take it because they could go bust, which they did. Same years later with the Cryptsty exchange. Many coins had huge arb opportunites because many of the wallets were offline and you couldn't withdraw certain coins.

So if you see some huge spread like this, use your head and realise that something isn't making sense and there is a reason why.

Chato1977

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Quote from: tvplus006 on July 05, 2021, 04:27:46 AM

Quote from: Chato1977 on July 05, 2021, 04:07:00 AM

What can you expect from a scam exchange ? this has been same thing happens in Yobit in the past that they even have offers cheap coins but when you purchase then you are trapped.

Such problems arise not only when scam exchanges are used. Recently, after the hacking of the KuCoin exchange, the exchange administration closed the withdrawal of a large number of coins, which led to a change in the value of coins traded on the exchange. When I saw that the price of DIA on KuCoin was trading below the price on Binance by more than 10%, I decided to take advantage of this situation, but my coins that I tried to withdraw were blocked by the exchange for several days. After unlocking, the price changed and I eventually received a small loss from this transaction.

Yeah I understand your point here mate but at least kucoin is far different from HitBtc because there are lots of issues and accusation against this exchange for long now and that's why i said we can't expect something good from exchange like this.
but thanks for enlightening about some possibilities as this is a need to understand by many here.

Mistafreeze

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Quote from: tvplus006 on July 05, 2021, 04:27:46 AM

Quote from: Chato1977 on July 05, 2021, 04:07:00 AM

What can you expect from a scam exchange ? this has been same thing happens in Yobit in the past that they even have offers cheap coins but when you purchase then you are trapped.

Such problems arise not only when scam exchanges are used. Recently, after the hacking of the KuCoin exchange, the exchange administration closed the withdrawal of a large number of coins, which led to a change in the value of coins traded on the exchange. When I saw that the price of DIA on KuCoin was trading below the price on Binance by more than 10%, I decided to take advantage of this situation, but my coins that I tried to withdraw were blocked by the exchange for several days. After unlocking, the price changed and I eventually received a small loss from this transaction.

One can not outsmart a thief holding a gun except the person wanna risk his or her life. A lot of investors had falling into these same trap of manipulating the market, enticing investors to fall for their low crypto prices. At the end they will shift the market price away from them giving them loses which is inevitable. Shady exchanges like Kucoin do this to cover their loses igniting more investors to contribute their hard earned money.

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Quote from: ?? on ??

I'm doubting an exchange if they are closing withdrawal and transfer in a long time because that is the time that they can manipulate the market.
Even this exchange is already last long in crypto market, i think right now there are a lot better exchange, just IMO

Although they do not close withdrawal and transfer, they can use maintenance for the wallet, which is a cliche. If they are really close to that, I think they will not really close it because almost all exchanges have Dogecoin pair usdt and btc and else, so they will not do that.

Sometimes, this attracts greediness from gamblers become bigger because they see the gap price is too big and they see the chance to make a profit there. But then, after they do something, they realize something wrong happen and they can not do anything unless just waiting for more and hope that everything will be okay.

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Quote from: ?? on ??

I'm doubting an exchange if they are closing withdrawal and transfer in a long time because that is the time that they can manipulate the market.
Even this exchange is already last long in crypto market, i think right now there are a lot better exchange, just IMO

They are not targetting to manipulate the market ,but they are looking for potential victims that will Buy orders from their exchange seeing how cheap Dogecoin is , but not knowing that they will be trapped after purchase because the coins cannot be withdrawn and will let them sits in their accounts .
though they can convert in to other coins but yet they have already missed the chance of profiting .

Topic: Dogecoin price is very low on HitBtc (Read 553 times)