IDAX.pro and coinmarketcap are they legit ?

timerland

hero member

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Honestly, I don't think we can let of Coinmarketcap scot-free here. There's been a range of issues with them, and from being in some alt communities, there's a lack of support from the team and often coins will take months to get listed (unless you have internal connections), most of their exchanges listed have faked volume/very shady and they don't even bother to look in it, as well as often listing fairly obvious scam coins on their platform.

It's pretty obvious CMC doesn't do extensive due diligence with the coins/exchanges they list, which is pretty obvious for anyone involved in crypto, but I ask you, what impression does coinmarketcap give to new investors when they list scam exchanges/coins? Not a very good one, for sure.

CMC, please do your due diligence, you are making enough money off ads to afford 1-2 people doing due diligence daily for each new project, and still be able to process 10 new coins a day.

Quote from: bL4nkcode on July 19, 2019, 07:14:21 AM

Quote from: lotfiuser on July 14, 2019, 09:02:19 AM

Source : https://medium.com/@info_85454/idax-pro-scammed-crypto-projects-for-up-to-5-000-000-usd-c2d10a0dd14e

I can say that the article is legit, oleg and his team of CMA write them. I'm one of those who published articles regarding the IEO of CMA on idax, and it turns like what is written in the source.

Regarding to CMC, well, lots of concerns and issue on any coin's volume and price charts, but there's no direct proofs for that as said.

Damn man, I never knew they where such scumbags.

Kyraishi

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I don't understand why people are always so quick to blame everything related to an exchange or service when that service goes scam and the services around it are still promoting it for a bit. In this case, coinmarketcap is the service, and although I would love for them to thoroughly analyze every single exchange/coin that wants to get listed on their platform, but reality is, there is too many applications a day for that to be feasible. This is why I look at CMC with a large grain of salt, especially the exchange tab with how many exchanges will fake their market volume just to seem bigger then they are. Use CMC as a tool to check out new coins, not use it as investment advice.

And idax did go full scam. They scammed multiple projects for millions.

BitHodler

legendary

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Quote from: bL4nkcode on July 19, 2019, 07:14:21 AM

Regarding to CMC, well, lots of concerns and issue on any coin's volume and price charts, but there's no direct proofs for that as said.

I fail to understand why people get so upset about CMC and its flaws. It's not that anyone here is paying a cent to access the data they provide. It's a free service you can use or ignore in case you don't like how they function.

I use them to track volumes quite regularly and my only point is that there is some sort of a delay, but I can look through that. If I doubt their statistics, I look up the actual exchanges to see how accurate the volumes actually are.

I can say that CMC is pretty accurate overall. Great value for "money" I would say. The large list of shitcoins don't bother me because I know it's a business and they have to please the millions of noobs looking for them.

fortunecrypto

legendary

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Quote from: elda34b on July 18, 2019, 04:39:24 AM

People are fools if they think that IEO == legit gains. Most exchanges want to do it because they want to get some money, and those middle-low class exchange, I believe won't care that much about your money too.

If you want to do IEO, just participate in top exchanges. But don't forget that nearly all of those IEO project are being pumped without any solid reason. The exchange just needs to do it to get profits. It's a win-win solution for exchanges and new projects, but not always for traders/investors.

I'm not surprised if IDAX is scamming their user tbh.

That's true there is no perfect investment, we should still look for the project that we believe will be here and accepted by the community, a project that will pass expectation, after the IEO, these projects will do their IEO's in top exchange, so I agree that you go for the top exchanges only.

bL4nkcode

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Limited in number. Limitless in potential.

Quote from: lotfiuser on July 14, 2019, 09:02:19 AM

Source : https://medium.com/@info_85454/idax-pro-scammed-crypto-projects-for-up-to-5-000-000-usd-c2d10a0dd14e

I can say that the article is legit, oleg and his team of CMA write them. I'm one of those who published articles regarding the IEO of CMA on idax, and it turns like what is written in the source.

Regarding to CMC, well, lots of concerns and issue on any coin's volume and price charts, but there's no direct proofs for that as said.

timerland

hero member

Activity: 1526

Merit: 596

Quote from: lotfiuser on July 14, 2019, 09:02:19 AM

after reading the full article its seems like ieo is just another way to scam users who try to be safe from ico scam and it seems like coinmarketcap isnt that legit so they world of cryptocurrency is changing very fast after ico review sites scams exposed now

is coinmarketcap the next target for investigation?
and IEO exchanges ?
Source : https://medium.com/@info_85454/idax-pro-scammed-crypto-projects-for-up-to-5-000-000-usd-c2d10a0dd14e

Idax has been exposed a long time ago for their shady activities in regards to defrauding projects that want their services/listing. I don't think that anyone debates the legitimacy of their service anymore, since their reputation has pretty much gone to zero.

As to coinmarketcap, I did see their affiliation with Idax within that article. In the past, Coinmarketcap has not been the most legitimate entity either since they've constantly associated with scammers, and advertising for ponzi schemes like Bitconnect.

But does that mean that the data Coinmarketcap provides in terms of pricing/exchange volumes are necessarily false? They may be, but there is no direct evidence to suggest that. All that it says about coinmarketcap is that its affiliate partners should not be taken at face value, and that any ads they put out you should be wary of.

carlfebz2

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Quote from: lotfiuser on July 14, 2019, 09:02:19 AM

after reading the full article its seems like ieo is just another way to scam users who try to be safe from ico scam and it seems like coinmarketcap isnt that legit so they world of cryptocurrency is changing very fast after ico review sites scams exposed now

is coinmarketcap the next target for investigation?
and IEO exchanges ?
Source : https://medium.com/@info_85454/idax-pro-scammed-crypto-projects-for-up-to-5-000-000-usd-c2d10a0dd14e

It has nothing to do with Coinmarketcap yet they would list all things that would fit out into their criteria(even shady exchangers) but somehow they do put up some warnings if they do received sufficient complaints on such exchange.IDAX.pro is also well known to hold up users funds this is why i dont tend to trust up any exchange that having these kind of feedbacks.IEO is only being hyped due to ready-listed into an exchange but when it comes to project usability they dont really differ with ICO projects.

Heisenberg_Hunter

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Heisenberg Design Services

Unless you don't do your own research and invest in the coin, it would be literally much difficult to retake your investment. The projects which were rated good in icobench ran away with investors money last year. With these fake reviews and ratings people blindly invested in the project and due to the December crash the projects which collected money in Eth ran away completely due to them not able to recoup the invested funds. Similarly IEO is another new way of scamming the poor newbie investors in the name of an exchange.

The potential and real world usage are far less seen in terms of IEO and we are good to go with the exchanges endorsing those coins. IDAX has always been subjected to various scam accusations of not being able to withdraw funds. Probably we need to stay completely away from the ERC20 scams which are still prevailing in the market.

leowonderful

legendary

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Bitcoin FTW!

As for if CoinMarketCap is legit, if I recall the site did take some steps to ensure that volume reporting is more accurate and some fake reported volume isn't counted, but they still do list a number of shady exchanges on their site such as YoBit, and there's inevitably still fake volume around. Still better than when they just listed the reported volume of exchanges, with exchanges like BitMax still reporting billions of dollars in daily volume (even greater than BitMEX). Also good to note that just because an exchange is being listed on a site like CMC does not mean it is legit.

Kemarit

legendary

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Of course, scammers will be scammers, they might camouflage themselves but at the end they will be exposed as well. But since IEO right now is being touted as the safest way to invest as compare to ICO, people are going to be suckered by it specially by mid level exchanges.

The problem though with high tier exchanges that offers IEO is that the lack of tranparency. I mean how can be a token be sold in matter of seconds? Unless whales or there is some insider doing the buying for them and there is no left for casual Joe's like us.

elda34b

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People are fools if they think that IEO == legit gains. Most exchanges want to do it because they want to get some money, and those middle-low class exchange, I believe won't care that much about your money too.

If you want to do IEO, just participate in top exchanges. But don't forget that nearly all of those IEO project are being pumped without any solid reason. The exchange just needs to do it to get profits. It's a win-win solution for exchanges and new projects, but not always for traders/investors.

I'm not surprised if IDAX is scamming their user tbh.

Slow death

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Did you report this to coinmarketcap? in case affirmative, what coinmarketcap said?

You can also create thread in this section:

Scam Accusations

https://www.trustpilot.com/review/www.idax.pro

this is a market that needs to be regulated to reduce these scammers

lotfiuser

sr. member

Activity: 1250

Merit: 295

Palestine

after reading the full article its seems like ieo is just another way to scam users who try to be safe from ico scam and it seems like coinmarketcap isnt that legit so they world of cryptocurrency is changing very fast after ico review sites scams exposed now

is coinmarketcap the next target for investigation?
and IEO exchanges ?
Source : https://medium.com/@info_85454/idax-pro-scammed-crypto-projects-for-up-to-5-000-000-usd-c2d10a0dd14e

Topic: IDAX.pro and coinmarketcap are they legit ? (Read 282 times)