Dogecoin price is very low on HitBtc - page 2.

tvplus006

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Quote from: Chato1977 on July 05, 2021, 05:07:00 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.

Chato1977

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Quote from: yhiaali3 on July 01, 2021, 03:06:13 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"?

7788bitcoin

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Quote from: Quidat on July 04, 2021, 01:43:45 PM

~
Most of the time on where a coin does have big price gaps or difference in between platforms then it does indicate that theres no liquidity on a certain coin and of course they would really be disabling
withdrawals to avoid such possible arbitrage.
People might be seeing this as an opportunity but platforms arent that blind nor numb on not doing so

It is clear that HitBTC had an issue with their system and so is the reason they have stopped the withdrawal of coins, i am not sure whether the trading is halted and if they are still active then you can purchase the coins and then wait for the maintenance to get over and withdraw the coins if the margin is high.

Before that we need to get a confirmation from their customer service about how much time will it take for them to enable the withdrawal button.

Quidat

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Quote from: elisabetheva on July 04, 2021, 01:10:07 PM

Quote from: Gozie51 on July 04, 2021, 12:56:18 PM

Quote from: feelideb on July 04, 2021, 10:48:17 AM

When centralized exchange lock users fund and there are no withdrawal, this kind of huge price discrepancy occur. I will bet that nobody wants their funds lock up simply because of opportunity of arbitrage. The event right here with HitBtc is the readon of the rise and popularity of decentralized exchange. I thinkvdex is the future despite teething problems at this time!

But I think there should be information or announcement to that effect before locking up users hodling.... I don't know if that was done? And if they are sincere, they should have done that.

I remember two years back or close to it when coin exchange was about closing up, they gave such information for users with a longtime notice before they shut down. That is the right thing to do to give choice to users if they want to allow their hodling there or not and not to lock them up and allow only deposit.

Is that not a form of fraud?

I've experienced for different coins and it's true what you say we are given information about it via the email address where we registered. asking us to do the transfer at a certain time so that we can move the coin if we still need it, because the coin is not growing and there is no indication that it can increase, especially since there is no visible movement, I did nothing to the coin. but in essence there will be a notification for it, because it is clear what you said that if they do not make a clear notification this is fraud.

Usually when a coin turns out on low volume or doesnt have liquidity at all then it do turns out that those would really be delisted soon and most exchangers does really give out notification in terms of getting your funds
before it would get stucked or locked into the exchange which its a basic thing to happen.

Most of the time on where a coin does have big price gaps or difference in between platforms then it does indicate that theres no liquidity on a certain coin and of course they would really be disabling
withdrawals to avoid such possible arbitrage.
People might be seeing this as an opportunity but platforms arent that blind nor numb on not doing so

elisabetheva

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Quote from: Gozie51 on July 04, 2021, 12:56:18 PM

Quote from: feelideb on July 04, 2021, 10:48:17 AM

When centralized exchange lock users fund and there are no withdrawal, this kind of huge price discrepancy occur. I will bet that nobody wants their funds lock up simply because of opportunity of arbitrage. The event right here with HitBtc is the readon of the rise and popularity of decentralized exchange. I thinkvdex is the future despite teething problems at this time!

But I think there should be information or announcement to that effect before locking up users hodling.... I don't know if that was done? And if they are sincere, they should have done that.

I remember two years back or close to it when coin exchange was about closing up, they gave such information for users with a longtime notice before they shut down. That is the right thing to do to give choice to users if they want to allow their hodling there or not and not to lock them up and allow only deposit.

Is that not a form of fraud?

I've experienced for different coins and it's true what you say we are given information about it via the email address where we registered. asking us to do the transfer at a certain time so that we can move the coin if we still need it, because the coin is not growing and there is no indication that it can increase, especially since there is no visible movement, I did nothing to the coin. but in essence there will be a notification for it, because it is clear what you said that if they do not make a clear notification this is fraud.

mindrust

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Too many scam reports on that exchange. You cannot trust their data. If the price of a coin is either too low or too high on an exchange, it usually indicates that people either can't withdraw, deposit or trade that particular coin. I am almost sure that one of these situations apply to HitBtc's case.

Gozie51

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Quote from: feelideb on July 04, 2021, 10:48:17 AM

When centralized exchange lock users fund and there are no withdrawal, this kind of huge price discrepancy occur. I will bet that nobody wants their funds lock up simply because of opportunity of arbitrage. The event right here with HitBtc is the readon of the rise and popularity of decentralized exchange. I thinkvdex is the future despite teething problems at this time!

But I think there should be information or announcement to that effect before locking up users hodling.... I don't know if that was done? And if they are sincere, they should have done that.

I remember two years back or close to it when coin exchange was about closing up, they gave such information for users with a longtime notice before they shut down. That is the right thing to do to give choice to users if they want to allow their hodling there or not and not to lock them up and allow only deposit.

Is that not a form of fraud?

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Quote from: yhiaali3 on July 01, 2021, 03:06:13 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?

This is completely natural, this is what happens in any closed market, in fact we have seen this a few times when this happened to bitcoin and we saw the same reduction in price, basically those that had bitcoin in a platform that did not allowed for withdrawals had a huge problem, so other people decided to buy their coins but since they were taking a risk they asked for a big discount and they got it thinking that maybe at some point withdrawals will resume, and the same scenario is happening here.

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When centralized exchange lock users fund and there are no withdrawal, this kind of huge price discrepancy occur. I will bet that nobody wants their funds lock up simply because of opportunity of arbitrage. The event right here with HitBtc is the readon of the rise and popularity of decentralized exchange. I thinkvdex is the future despite teething problems at this time!

yohananaomi

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Quote from: ?? on ??

Hitbtc had gone very bad over the years and had seen a great decline traded volume, users and new coin listing. It also has fake volume and low trade order, I wonder if the exchange will survive another cycle. I closed my account on hitbtc last year and will not consider trading any coin on it. Not only doge coin has low price, u can check other prices.

I haven't used HitBtc for a long time so I never follow developments anymore, I actively used it when Bitcoin was on the rise at the end of 2017 and when 2018 experienced problems which included protracted, even though it could be solved but because of many obstacles finally left 1 that could not be solved , began to rarely use it.

yes, if you look at the price of doge, you can see a quite striking difference, because the prices are very far apart and I don't understand if what you say is true that they have fake volumes which are clearly very detrimental to those who make transactions there. if trading volume decreases, it could be that there are now many new exchanges growing and quite good and could be cheaper and faster to settle, so the competition is very tight, if you can't maintain it properly, there will be a decline, which is normal

Russlenat

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They have already disabled the withdrawal for a long time now, I used to trade with the site for my DOGE, but things changes when the withdrawal disabled. It's a good opportunity to hedge, however, it will not be possible as you will not be able to withdraw your DOGE, so it's still useless.

This exchange is not stupid, they know what they are doing, and they would not allow to be abuse by the traders.

maxreish

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Whats the point of buying dogecoin in Hitbtc? Even they offer the lowest from the other exchange, the reputation of hitbtc exchange isnt that good, you can deposit but can not be able to withdraw?

With those fake price and volume, I suggest you just buy dogecoin in some reputable and trusted exchange.

Shasha80

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Quote from: bluebit25 on July 04, 2021, 03:36:10 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.

bluebit25

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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.

Danslip

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As mentioned by other forum members, the price is low because of the restrictions on specific altcoins. For withdrawing the dogecoin, you are supposed to sell it back to the lower price on the same pair and buy BTC which has the insane withdrawal fee on HitBtc. It doesn't make sense to wait such long for withdrawing a small profit because it can take ages to cashout your coins if the HitBtc team doesn't let you do so. If you wanna risk your hard-earned money on the fishy trading website, you can go for too good to be true trading opportunity.

Dinda mayasi

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I would argue that the actual price of Dogecoin today in all markets is almost the same, only a slight difference. If there is a decline there may be other factors. So far the emotion factor of the market has also had a big influence on coin prices.

Lanatsa

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Quote from: yhiaali3 on July 01, 2021, 03:06:13 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?

All matters with liquidity or volume and its no surprise that the price is lower compared on other exchangers which does have liquidity and also who the hell would be the one on making out deposits or trades on a particular platform when you do know that you cant able to withdraw?

Also, Hitbtc is known on having big fees and also with have some issue but im not saying that this is a scam platform since I do have experience on using this exchange in the past on selling
out some of my alts and everything went smooth.The only thing I do complain is about on the fees were too high.

Wont be surprising that issues are normal as long it don't end up on a scam then that do surely counts.

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Quote from: Maxine4466 on July 03, 2021, 05:33:44 AM

Quote from: hugeblack on July 02, 2021, 12:24:47 PM

This topic proved to me that everyone is looking for easy and quick profit without even the slightest effort in searching, meaning if a platform offers bitcoin at a price of 20 thousand, you will find many people registering with it and even verifying identity in order to buy bitcoin at a cheaper price and make a quick profit despite That the whole process is a scam and that's exactly what happened now.

This platform has been scamming for a long time yet many people trust it and want to try it out.

There're always some people doing interest arbitrage with the unrealistic idea of getting some money from that but as far as I know, people around me all turned out to be fooled by this kind of platform(one of my friends fell for shitcoin once). These platforms are no fools, instead, they are sparing no effort to fool those who attempt to play tricks on the platforms, maybe as a punishment. How could someone go and tell you that: hey, come to my exchange and buy some cheap Bitcoin...business are for earning money after all!
Clearly someone has been trapped in HitBTC:
https://twitter.com/TraderMdd/status/1410649510657802246 hopefully this person didn't lose too much money.
Those platforms may run away with all the money raised at any moment, why trust it?
Another possibility is that their price seems lower than the market, luring users to sign up, but actually when you really log in, you will find the price is just the same as other exchanges. They doesn't mean to steal your money, just to persuade people into using this platform in a dishonest way.
HitBTC has gained many followers:
https://twitter.com/hitbtc
but my advice is that, do not trust these fresh platforms too early, putting a small proportion of money is fine if you want to trade there.

most of the members in it are confused and wondering about the fate of their funds when they see prices that are very far away and we can't fully trust the price list that is displayed because the difference is too far from other exchange prices are some of the old tricks they apply so that the sheep can be caught in the trap

Maxine4466

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Quote from: hugeblack on July 02, 2021, 12:24:47 PM

This topic proved to me that everyone is looking for easy and quick profit without even the slightest effort in searching, meaning if a platform offers bitcoin at a price of 20 thousand, you will find many people registering with it and even verifying identity in order to buy bitcoin at a cheaper price and make a quick profit despite That the whole process is a scam and that's exactly what happened now.

This platform has been scamming for a long time yet many people trust it and want to try it out.

There're always some people doing interest arbitrage with the unrealistic idea of getting some money from that but as far as I know, people around me all turned out to be fooled by this kind of platform(one of my friends fell for shitcoin once). These platforms are no fools, instead, they are sparing no effort to fool those who attempt to play tricks on the platforms, maybe as a punishment. How could someone go and tell you that: hey, come to my exchange and buy some cheap Bitcoin...business are for earning money after all!
Clearly someone has been trapped in HitBTC:
https://twitter.com/TraderMdd/status/1410649510657802246 hopefully this person didn't lose too much money.
Those platforms may run away with all the money raised at any moment, why trust it?
Another possibility is that their price seems lower than the market, luring users to sign up, but actually when you really log in, you will find the price is just the same as other exchanges. They doesn't mean to steal your money, just to persuade people into using this platform in a dishonest way.
HitBTC has gained many followers:
https://twitter.com/hitbtc
but my advice is that, do not trust these fresh platforms too early, putting a small proportion of money is fine if you want to trade there.

yhiaali3

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Quote from: hugeblack on July 02, 2021, 12:24:47 PM

This topic proved to me that everyone is looking for easy and quick profit without even the slightest effort in searching, meaning if a platform offers bitcoin at a price of 20 thousand, you will find many people registering with it and even verifying identity in order to buy bitcoin at a cheaper price and make a quick profit despite That the whole process is a scam and that's exactly what happened now.

This platform has been scamming for a long time yet many people trust it and want to try it out.

Yes it is true hugeblack brother, despite the warning posted here, you will find many people go to the exchange now and buy Dogecoin at a cheap price and may get stuck in the exchange there, but we put the warning and in the end everyone is responsible for their decision, HITBTC exchange proves that it deserves the bad reputation because it does not correct mistakes Rather, they are trying to cover it up, and as one of the members mentioned, they are setting a trap to catch people who dream of easy profit.

Topic: Dogecoin price is very low on HitBtc - page 2. (Read 483 times)