Bitforex is a big wash trade platform.
https://medium.com/@sallyalexon/who-are-the-real-people-behind-the-wash-trading-exchange-bitforex-26d8edc9837
Topic: Only 10 platforms are credible (Read 806 times)
The OP was only fixated on the Exchanger he knew he had never updated his knowledge with the latest news from some good exchangers other than what the OP mentioned. such as LATOKEN, or IDAX.pro These both exchangers are new exchangers that cannot be underestimated.
Has it ever occurred to anyone that the so-called fake trades could be caused by shitty project owners themselves? And not the exchanges? I mean it makes more sense for shitty projects to boost their shitcoin's volume rather than exchanges trying to boost their volumes. I'm not saying the later isn't happening, I am just saying that most of fake trades could be caused by not the exchanges
I guess that shouldn't count as fake volume
At least, not in the sense it is meant in this topic. Here we talk about exchanges increasing their trading volumes in order to look bigger than they really are (and so get higher in the pecking order). In this respect, shitty projects boosting their shitcoin's volume should not be considered fake volume simply because they are paying the same trading commissions as everyone else and thus these trades are as legit as any other trades. This is what I think
paying for trading fees is not the ultimate game, I don't think you understand the context here at all
These trades are not fake, as simple as it gets
If you still insist that I don't understand (or misunderstand) something, you may want to explain your point in more precise terms. To repeat, these trades are not fake in the context of trading volumes reported by the exchange (i.e. what we see at CoinMarketCap). To put it differently, fake trades (and thus fake trading volumes) are those which don't happen in reality (technically, you can't pay trading fees for something you don't do, so the reverse is a valid assumption). It may even mean that the exchange may increase the reported figures arbitrarily (though this can be easily discovered and seen through). Anyway, that has nothing to do with projects selling and buying their own coins or tokens to boost the trading volume (read, it is legit volume)
Has it ever occurred to anyone that the so-called fake trades could be caused by shitty project owners themselves? And not the exchanges? I mean it makes more sense for shitty projects to boost their shitcoin's volume rather than exchanges trying to boost their volumes. I'm not saying the later isn't happening, I am just saying that most of fake trades could be caused by not the exchanges
I guess that shouldn't count as fake volume
At least, not in the sense it is meant in this topic. Here we talk about exchanges increasing their trading volumes in order to look bigger than they really are (and so get higher in the pecking order). In this respect, shitty projects boosting their shitcoin's volume should not be considered fake volume simply because they are paying the same trading commissions as everyone else and thus these trades are as legit as any other trades. This is what I think
paying for trading fees is not the ultimate game, I don't think you understand the context here at all.
That's true that those trading platforms are using real volume but it doesn't mean other exchanges (that used fake volume) is bad and gonna be always bad. Those exchanges with fake volume can be better later by stop using their fake volume and make a great improvement both for the platform and users' advantage.
Well yeah not all of them are scams or have weak base. Many of them are providing great services and would improve with the passage of time but people tend to make use of the famous ones preferably described in the list above. This is because of the huge rush over the exchanges and the reviews by the users which attract more and more users. About the volume, I do not have any ambiguity.
I do not think there are just so few platforms. You know, you look around and yes all the big players are big people with huge offices and 100s of employees like Bittrex and Binance with headquarters offshore and many offices in Asia. But there are always small players in crypto who are much more passionate and are in it for the love of Bitcoin and crypto, not simply to make profit. In fact these could be more credible than the big players! Nothing is ever for certain until you are exit scammed,,, this is what I feel.
The point is, the above 10 exchanges are relatively honest, and that's a good start. In an industry filled with shadiness and distrust, there will be big rewards for exchanges that remain ethical despite sacrificing a short-term edge to more sneaky exchanges. Reputation is everything. I for one am starting to avoid the smaller or less well-known exchanges like the plague.
Why do people bother dealing with the smaller exchanges in the first place despite all the controversies, scams and hacks associated with them? Everyone knows how risky it is to invest in such exchanges which is why it is better to deal with the reliable ones like Binance, Bittrex etc in terms of security, reliability etc.Not all small exchanges are associated to scams, controversies and hacks. I myself using smaller exchange which is based on my location for my trading purpose as I'm not really active trader. The exchange is obviously a small exchange compared to those top 10 as mentioned by OP but it is Top 1 in my country so I have no doubt to use small exchange as long as it is reputable.
I have watched a video talking about fake volume from the channel Crypto Beadles
it Contains many useful information
https://www.youtube.com/watch?v=MJp2GphZRGg
it Contains many useful information
https://www.youtube.com/watch?v=MJp2GphZRGg
Maybe if op should update his list he is going to add binance to the list though I did not know the criterias he used in measures those ten trading platforms. I trade and exchange coins at poloniex and bittrex before but I don't know why op really things those exchange are the most trustworthy.
But wait, this is the second time I am seeing someone make this statement too about Binance not being on the list, but Binance is on the list if you check it clearly, could this be because he stated Binance last on the list, check the last name, on the list, its Binance.The only mistake I just saw is not putting Binance first being the most trustworthy exchange for now, ha, OP dare not mention Binance name even if we have to rig it, Binance has been doing a very fantastic work and I love their transparency so much and the way they have made their platform very comfortable and friendly to user.
on my experienced in the platform you've mentioned only two of them that was really credible to me which is Bittrex and Binance, these two are proven and tested to me and has a good volume in the market as well too. Then, the rest for me is I'm not sure about it. Because there are other platforms on which I think has a high volume in the market just like Idax, Coinbene, Okex and Houbi.
What on earth would make you think that Bittrex and Binance are the only good platforms there is ?If I'm to say that only two there were credible then I am. Going to say it is only Binance and Coinbase. You do know that Coinbase is one of the top platforms (if not the number one) we have here. And they can also be trusted all round because their site is well secured, there haven't been any bad review about them, if there is, then its just few that are not worth it.
Maybe if op should update his list he is going to add binance to the list though I did not know the criterias he used in measures those ten trading platforms. I trade and exchange coins at poloniex and bittrex before but I don't know why op really things those exchange are the most trustworthy.
I have known right from time that majority of all those platforms and their trading volumes are just fake.
Exchanges that I am only sure are very good platforms are Binance, Coinbase, Bitfinex and Bittrex, I don't know really know about the others. These are the biggest platforms that there is in cryptocurrency community, and there are also Kraken and Huobi, they are also good platforms too.
When I want to make choice I only choose the ones rhat has good reputation and are very popular. Just like when I started crypto trading, I went for Coinbase. Coinbase was also the first wallet I had as a newbie, they have everything you will need, their platform is packed with lot of features.
Exchanges that I am only sure are very good platforms are Binance, Coinbase, Bitfinex and Bittrex, I don't know really know about the others. These are the biggest platforms that there is in cryptocurrency community, and there are also Kraken and Huobi, they are also good platforms too.
When I want to make choice I only choose the ones rhat has good reputation and are very popular. Just like when I started crypto trading, I went for Coinbase. Coinbase was also the first wallet I had as a newbie, they have everything you will need, their platform is packed with lot of features.
to your list I would add without a shadow of a doubt Kraken, who has always stood for transparency. I personally consider it among the best
I have known right from time that majority of all those platforms and their trading volumes are just fake.
Exchanges that I am only sure are very good platforms are Binance, Coinbase, Bitfinex and Bittrex, I don't know really know about the others. These are the biggest platforms that there is in cryptocurrency community, and there are also Kraken and Huobi, they are also good platforms too.
When I want to make choice I only choose the ones rhat has good reputation and are very popular. Just like when I started crypto trading, I went for Coinbase. Coinbase was also the first wallet I had as a newbie, they have everything you will need, their platform is packed with lot of features.
Exchanges that I am only sure are very good platforms are Binance, Coinbase, Bitfinex and Bittrex, I don't know really know about the others. These are the biggest platforms that there is in cryptocurrency community, and there are also Kraken and Huobi, they are also good platforms too.
When I want to make choice I only choose the ones rhat has good reputation and are very popular. Just like when I started crypto trading, I went for Coinbase. Coinbase was also the first wallet I had as a newbie, they have everything you will need, their platform is packed with lot of features.
I am extremely sorry to say that I don't agree with your statement. How did you rate that? You haven't place any reference according to your statement. However, I think you like those crypto exchanges site personally. Yes, you can say your opinion freely, it's your right. Like as I have some favourite exchanges. I respect your opinion.
Information is not coming from OP, it was a mistake he did not put a reference, akamit posted it in the first page of this thread.
Link to for your reference similar to what OP brought up. https://www.coindesk.com/fake-volume-on-crypto-exchanges-isnt-the-half-of-it
I am extremely sorry to say that I don't agree with your statement. How did you rate that? You haven't place any reference according to your statement. However, I think you like those crypto exchanges site personally. Yes, you can say your opinion freely, it's your right. Like as I have some favourite exchanges. I respect your opinion.
Counterfeit digital trading volumes played by the platforms have become widespread and noticeable from the former and hardly disguises himself has become clear to all
TIE reported its independent analysis of the differences in volumes reported on the FX platform and the trading rate was counterfeit 75% according to TIE
I will show you a list according to some data and reports and according to the actual notifications of the volume of trading of 10 platforms were only honest
BitFinex .. BitFlyer .. BitStamp .. Bittrex .. Coinbase Pro .. Gemini .. itBit .. Kraken .. Poloniex .. Binance
You should know that trading volume is independent and has no effect on the market size of a particular currency
However, excessive reports of the daily volume of trading may adversely affect the perception of the market
It is noteworthy that because of these counterfeits made the platforms able to climb the rankings in the list of platforms according to the volume through that process and gain more fame
The counterfeit data reported on stock exchanges is also a key factor behind the reluctance of the Securities and Exchange Commission (SEC) to approve the ETFs based on Bitquin or even alternative digital currencies.
[/size]TIE reported its independent analysis of the differences in volumes reported on the FX platform and the trading rate was counterfeit 75% according to TIE
I will show you a list according to some data and reports and according to the actual notifications of the volume of trading of 10 platforms were only honest
BitFinex .. BitFlyer .. BitStamp .. Bittrex .. Coinbase Pro .. Gemini .. itBit .. Kraken .. Poloniex .. Binance
You should know that trading volume is independent and has no effect on the market size of a particular currency
However, excessive reports of the daily volume of trading may adversely affect the perception of the market
It is noteworthy that because of these counterfeits made the platforms able to climb the rankings in the list of platforms according to the volume through that process and gain more fame
The counterfeit data reported on stock exchanges is also a key factor behind the reluctance of the Securities and Exchange Commission (SEC) to approve the ETFs based on Bitquin or even alternative digital currencies.
on my experienced in the platform you've mentioned only two of them that was really credible to me which is Bittrex and Binance, these two are proven and tested to me and has a good volume in the market as well too. Then, the rest for me is I'm not sure about it. Because there are other platforms on which I think has a high volume in the market just like Idax, Coinbene, Okex and Houbi.
U can try velvet exchange. They are newbies but with great prospects, I follow them on socials
Never heard about them, give a link on the site pleaseYou'd better stay away from this exchange at all costs
As it is run by the same dudes who had been running the infamous BTC-e (then WEX) exchange. They ended up stealing an incredible amount of traders money and now they are in charge of the whole shebang again trying to pull off the fraud once more. The question has been extensively discussed in the Russian board of the forum with irresistible proofs given that the real beneficiaries behind this exchange are in fact the same folks that were behind the BTC-e (WEX) scam. So your only prospect with them is losing your money in the end. Be warned and stay cautious
Maybe at some point those 10 platforms started with fake volumes to make us use them and it did worked. Polo had been one of the oldest we've known that eve before the trend of KYC they are already doing great job. They have been on top for years, there are just new coming that are easier to use and with the offer to make money like BNB of binance. If the rest follows like having their own coin for less transaction fee, they might be able to compete tightly.
I think we must give a chance to new platforms, moreover some of them are not worse than listed above
Partially agree with you, but I used to trust old proven platforms, they give you feeling of stable confidence in their activityI think we must give a chance to new platforms, moreover some of them are not worse than listed above
Partially agree with you, but I used to trust old proven platforms, they give you feeling of stable confidence in their activityJump to: