If you're using a bot for trading it doesn't mean you're wash trading. Banks rely mostly on bots. The only difference is their bots are so developed with algorithms. I remember a documentary where the bank speaker told the algorithms worth million $.
You can be sued in justice for wash trading in some countries, banks aren't going to take a risk.
But using bots or algorithms (call it what you want) to manipulate a market is a deceptive method to fool people.
If you're happy with wash trading as long your order is filled, it's like saying "there's a lot of murderers I can stop that but I don't care because they don't kill me, they kill other people"
Topic: Wash trading with crypto exchanges (Read 361 times)
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Today Binance is enjoying good days, earning millions in fees, have huge reserves so it is looking safe and legit. But who knows what gonna happen tomorrow, the same Binance may turn broke and start playing dirty exchange games. As a crypto trader, it is always advisable to remain sceptical and don't over-rely on third party wallets.
This is correct, just because binance has been a good exchange so far that does not mean this will not change in the future, when it comes to our investment in crypto we must always be vigilant, if you have not used an exchange in some time then you need to do your due diligence again since it is possible that the exchange changed from being a safe place where you could trade your crypto without any problems to a selective scam in which clients which deposit huge amounts of money lose it all. This is something that is common in cryptocurrency market. Even in coinmarketcap, there are manipulation of volumes since exchange are paying that site to fake their own volume. Lucky for us we still have a legit exchange binance.
Today Binance is enjoying good days, earning millions in fees, have huge reserves so it is looking safe and legit. But who knows what gonna happen tomorrow, the same Binance may turn broke and start playing dirty exchange games. As a crypto trader, it is always advisable to remain sceptical and don't over-rely on third party wallets.
This is no new data. It's been discussed widely in the last few weeks. However, there's one thing to remember, most wash trading is done by projects to boost of their own token's daily trade volume. Exchanges merely facilitate this.
Exactly it was a hot topic during the last couple of months and nothing has changed in the data provided at that time and in the list posted by OP.
I think every trader is now aware of wash trading and the exchanges which are using it on large scale.
Just avoid using exchanges which are manipulating price for their own sake.
I don't think these tactics help exchanges much because we all know the real picture and can easily identify which exchanges are really legit. However, to me price matters more than volume. If the exchange has good price and my orders get filled easily, I don't care whether the volume is legit or fake.
Today Binance is enjoying good days, earning millions in fees, have huge reserves so it is looking safe and legit. But who knows what gonna happen tomorrow, the same Binance may turn broke and start playing dirty exchange games. As a crypto trader, it is always advisable to remain sceptical and don't over-rely on third party wallets.
This is something that is common in cryptocurrency market. Even in coinmarketcap, there are manipulation of volumes since exchange are paying that site to fake their own volume. Lucky for us we still have a legit exchange binance.
Today Binance is enjoying good days, earning millions in fees, have huge reserves so it is looking safe and legit. But who knows what gonna happen tomorrow, the same Binance may turn broke and start playing dirty exchange games. As a crypto trader, it is always advisable to remain sceptical and don't over-rely on third party wallets.
This is something that is common in cryptocurrency market. Even in coinmarketcap, there are manipulation of volumes since exchange are paying that site to fake their own volume. Lucky for us we still have a legit exchange binance.
There’s a doubt with binance security now but i think they will remain a true cryptoexchange. Hitbtc are place of shitcoins and i think its better to use only the trusted cryptoexchange. Market manipulation is normal but its too unfair for the serious investors, exchanges must be regulated when it comes to the trading volume. 
well, I think some of the exchangers mentioned are often used, and I don't complain about that. well, everyone's views are different, we can only ensure real volume when we want to trade, so checking before doing a trade is something that needs to be done.
This is something that is common in cryptocurrency market. Even in coinmarketcap, there are manipulation of volumes since exchange are paying that site to fake their own volume. Lucky for us we still have a legit exchange binance.
There is a huge problem in data clarity here, not many exchanges willing to share their very deep big data research, moreover many exchanges claims that they are so user-friendly, and they are absolutely fine with sharing their data, but only this one research that indicated pros, not cons.
And ordinary token holders will also be happy because they can sell when they got at a good price. So maybe we have a win-win situation that is why many are not actually complaining at all...except that this arrangement may not be working for the long-term stability and viability of this industry.
How can you be happy with wash trading on exchanges? It's market manipulation, how can it be a win-win situation? It's forbidden in finance and could lead someone to jail.
People doing this don't care for the long-term since they will be gone before. The holders/traders are the ones who get fucked.
they are the one who's crying out loud and keep screaming about scams.
the crypto market is still very small and as it is not legalized in many countries it is very difficult to have exchanges with correct volumes and no have many customers that use their plastic cards to buy bitcoin. for example I can not buy bitcoin in binance using my bank card, I can not use my bank card to buy bitcoin in bittrex. if fresh money does not enter these exchanges, they will falsify volumes to be on top
I don't think that will be a problem for me.
As long as I can take the profit from the trade, I don't care of what the bots doing because I think if I can follow the bot moves, then I can have a chance to make a profit even for just a small profit.
But yes, I am sure that will happen in all exchanges especially if, in that exchanges, whales have stayed and trying to buy and sell the coin.
As long as I can take the profit from the trade, I don't care of what the bots doing because I think if I can follow the bot moves, then I can have a chance to make a profit even for just a small profit.
But yes, I am sure that will happen in all exchanges especially if, in that exchanges, whales have stayed and trying to buy and sell the coin.
LOL, I don't know about you but sooner or later anyone here will be affected by this kind of manipulation one time or another. Folllowing bots? How can you do that? It doesn't makes any sense. Of course anyone here wants to make profits, but if there is some sort of manipulation from behind, it will be very difficult specially if you try to ride the waves and then lost at the middle.
Maybe that will sound funny to you or else, or it doesn't make any sense but yes, we can follow the bot movements and sometimes the bot will not move for a little time.
I am sorry I cannot explain because I am not good to explain to others.
But the bot will have a price target to buy and sell, and if we can enter the above or below from the price in the bot setting, then we could make the bot cannot move higher or lower.
No, it's not a gamble because we are following where the bots move and take the advantages from the bots.
What's that "BTI verified" sign?How can this BTI company verify that those exchanges aren't faking their trading volume?Or this is just some marketing trick so more people might choose the crypto exchange platforms that are "verified",while they fake their trading volume too?
I will continue to repeat that centralized crypto trading platforms are no better than banks.
I will continue to repeat that centralized crypto trading platforms are no better than banks.
It's not the first research about wash trading but this time they used different algorithms for several months. Several exchanges use the results to fight the wash trading occurring on their platform. Huobi, for example, is one of the exchanges with a lot of WT but they decided to take actions, Huobi even joined DATA for this reason.
Right, if I'm not mistaken Blockchain Institute of Technology releases this kind of reports quarterly (correct me if I'm wrong).
I don't think that will be a problem for me.
As long as I can take the profit from the trade, I don't care of what the bots doing because I think if I can follow the bot moves, then I can have a chance to make a profit even for just a small profit.
But yes, I am sure that will happen in all exchanges especially if, in that exchanges, whales have stayed and trying to buy and sell the coin.
As long as I can take the profit from the trade, I don't care of what the bots doing because I think if I can follow the bot moves, then I can have a chance to make a profit even for just a small profit.
But yes, I am sure that will happen in all exchanges especially if, in that exchanges, whales have stayed and trying to buy and sell the coin.
LOL, I don't know about you but sooner or later anyone here will be affected by this kind of manipulation one time or another. Folllowing bots? How can you do that? It doesn't makes any sense. Of course anyone here wants to make profits, but if there is some sort of manipulation from behind, it will be very difficult specially if you try to ride the waves and then lost at the middle.
And ordinary token holders will also be happy because they can sell when they got at a good price. So maybe we have a win-win situation that is why many are not actually complaining at all...except that this arrangement may not be working for the long-term stability and viability of this industry.
How can you be happy with wash trading on exchanges? It's market manipulation, how can it be a win-win situation? It's forbidden in finance and could lead someone to jail.
People doing this don't care for the long-term since they will be gone before. The holders/traders are the ones who get fucked.
This is no new data. It's been discussed widely in the last few weeks. However, there's one thing to remember, most wash trading is done by projects to boost of their own token's daily trade volume. Exchanges merely facilitate this.
That is more like it. Without any data I can use, it would be easy to conclude that the best possible people to do the manipulations are the people behind the specific project as they want to make sure that the value of their project will be rosy. Many of the project development team members usually also have a hoard of coins or tokens of their own project so if they can manipulate the exchanges then they get the incentives they are looking for. And ordinary token holders will also be happy because they can sell when they got at a good price. So maybe we have a win-win situation that is why many are not actually complaining at all...except that this arrangement may not be working for the long-term stability and viability of this industry.
1% real volume is insanely low compared with the reported volume... That's really insane.
However, there's one thing to remember, most wash trading is done by projects to boost of their own token's daily trade volume.
Maybe Trading Competitions are playing a vital role for fake trading volumes?With trading competitions, they are not really trying to hide it. The very reason a trading competition takes place is to boost the coin's traded daily / weekly / monthly volume, and I think that's okay as long as everything is fair.
But a trading competition attracts early investors and whales that always have the upper hand. Also, they're financially motivated to win the competition given how most cryptos that conduct trading competition start to see their asset value drop from its face value when it was first launched.
So if a coin/token launches a trading competition then there is a high possibility that a single user will repetitively buy and sell the coin/token to climb at the top for rewards.
So in that case, fake volume will increase for the entire exchange just because of the competition... please correct me if I'm wrong.
Nowadays we see trading competitions, hodling competition etc to fetch traders/investors...
This list is not full, as there are some exchanges with real volume besides this list.
Wash bot trading is a double-edged sword. Fake volume can attract noobs, but can scare away experienced investors and it won't last long.
As a promoting launching step it can take place, but afterwards if the volume will not became real - we can suppose just one result - only strong players will remain in this game.
No list will ever be complete but it gives you a good idea of what exchanges to select, one of the things traders are looking is volume in an exchange since that means they can easily exchange their coins back and forth with no issues but when you see some exchanges have only 1% of real volume and the rest is fake then you realize that there is a huge deal of manipulation going on and to me it is obvious those exchanges are doing that themselves to seem more popular than they are and as such they are untrustworthy. Wash bot trading is a double-edged sword. Fake volume can attract noobs, but can scare away experienced investors and it won't last long.
As a promoting launching step it can take place, but afterwards if the volume will not became real - we can suppose just one result - only strong players will remain in this game.
Interesting to see a lot of these reports come up time and again,,, and all of them are showing Binance to have the highest percentage of "Real Trading"compared to others. Makes me think, if Binance itself has anything to do with funding these reports to discredit other exchanges. It is not that I believe the others are good. It is that I believe all exchanges deal with wash trading,,, if not themselves, then their users. Especially if the platform like Binance has its own token!
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How you can follow the BOT, you doing manual right. The problem of wash trading is, we can see the volume was really high but the order its really shit example at Digifinex the order its really small even i can't sell it my asset for only 100$. That's amount was pretty low for Top Rank 10 Exchange by Coinmarketcap, that's why i really hate this kind of exchange.
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Following bots move? I don't think that would really be an easy one.I'm not really surprised for this wash trading yet this been happening and rampant on exchange market nowadays.If you do have keen eyes then you would probably
spot on these things.This is why exchange is always been shady where generating volume just for the sake of possible attraction.
I am sure you can do that if you try more than 5 times because you will see a pattern from the bot so you can define by yourself on what price you should buy or sell.
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Yeah? And then come running when the prices crash unnaturally due to market manipulation. Its high time people get their act together and start acting like a wise community and not just greedy nut jobs. The more people start saying that they don't care about such things, the louder we as a community say to market manipulators to come and screw with our money. Are you sure you want to be part of that problem?
Although the price crash unnaturally as you said, the market will survive and it will back to the normal price without a problem, but there will be a time to see the price will be back to normal.
Even if there will be too many manipulators came and screw with our money, the market will be strong enough to handle that manipulator. We already saw the market stay survive and if you see the market of cryptocurrency especially the bitcoin market, the market was survived in the hardest situation, and it came back to the higher price although it slowly.
I have seen sort of something like this. Not something like this but exactly this but not on a big scale, something around 100 bitcoins per day on wash trading volume.
They are not really that much life changing and done only to increase trading volume to make it look like that exchange is good but make it look like that coin is not dead. The coin I have seen was given a wash trading auto bot and he had a lot of his own coin so of course he sold and bought himself and even though he lost a bit of bitcoin most of it was recovered by the increase of his coins price and that resulted with him profiting thanks to his coin always being on top 5 volume and now he doesn't have to do it anymore since it got famous and people do it for him.
They are not really that much life changing and done only to increase trading volume to make it look like that exchange is good but make it look like that coin is not dead. The coin I have seen was given a wash trading auto bot and he had a lot of his own coin so of course he sold and bought himself and even though he lost a bit of bitcoin most of it was recovered by the increase of his coins price and that resulted with him profiting thanks to his coin always being on top 5 volume and now he doesn't have to do it anymore since it got famous and people do it for him.
This list is not full, as there are some exchanges with real volume besides this list.
Wash bot trading is a double-edged sword. Fake volume can attract noobs, but can scare away experienced investors and it won't last long.
As a promoting launching step it can take place, but afterwards if the volume will not became real - we can suppose just one result - only strong players will remain in this game.
Wash bot trading is a double-edged sword. Fake volume can attract noobs, but can scare away experienced investors and it won't last long.
As a promoting launching step it can take place, but afterwards if the volume will not became real - we can suppose just one result - only strong players will remain in this game.
What's that "BTI verified" sign?How can this BTI company verify that those exchanges aren't faking their trading volume?Or this is just some marketing trick so more people might choose the crypto exchange platforms that are "verified",while they fake their trading volume too?
I will continue to repeat that centralized crypto trading platforms are no better than banks.
I will continue to repeat that centralized crypto trading platforms are no better than banks.
It's not the first research about wash trading but this time they used different algorithms for several months. Several exchanges use the results to fight the wash trading occurring on their platform. Huobi, for example, is one of the exchanges with a lot of WT but they decided to take actions, Huobi even joined DATA for this reason.
What's that "BTI verified" sign?How can this BTI company verify that those exchanges aren't faking their trading volume?Or this is just some marketing trick so more people might choose the crypto exchange platforms that are "verified",while they fake their trading volume too?
I will continue to repeat that centralized crypto trading platforms are no better than banks.
I will continue to repeat that centralized crypto trading platforms are no better than banks.
We know this is happening, that's why we have to be careful in choosing an exchanges.
Based on the list now in coinmarketcap, it wasn't Binance as the largest exchange, but the hacker knows the real largest exchange and that's why Binance was hack.
Let's just be more educated, and OP although I read this already, I'd like to thank you effort for sharing this.
Based on the list now in coinmarketcap, it wasn't Binance as the largest exchange, but the hacker knows the real largest exchange and that's why Binance was hack.
Let's just be more educated, and OP although I read this already, I'd like to thank you effort for sharing this.
1% real volume is insanely low compared with the reported volume... That's really insane.
However, there's one thing to remember, most wash trading is done by projects to boost of their own token's daily trade volume.
Maybe Trading Competitions are playing a vital role for fake trading volumes?With trading competitions, they are not really trying to hide it. The very reason a trading competition takes place is to boost the coin's traded daily / weekly / monthly volume, and I think that's okay as long as everything is fair.
But a trading competition attracts early investors and whales that always have the upper hand. Also, they're financially motivated to win the competition given how most cryptos that conduct trading competition start to see their asset value drop from its face value when it was first launched.
1% real volume is insanely low compared with the reported volume... That's really insane.
However, there's one thing to remember, most wash trading is done by projects to boost of their own token's daily trade volume.
Maybe Trading Competitions are playing a vital role for fake trading volumes? I don't think that will be a problem for me.
As long as I can take the profit from the trade, I don't care of what the bots doing because I think if I can follow the bot moves, then I can have a chance to make a profit even for just a small profit.
But yes, I am sure that will happen in all exchanges especially if, in that exchanges, whales have stayed and trying to buy and sell the coin.
As long as I can take the profit from the trade, I don't care of what the bots doing because I think if I can follow the bot moves, then I can have a chance to make a profit even for just a small profit.
But yes, I am sure that will happen in all exchanges especially if, in that exchanges, whales have stayed and trying to buy and sell the coin.
Yeah? And then come running when the prices crash unnaturally due to market manipulation. Its high time people get their act together and start acting like a wise community and not just greedy nut jobs.
The more people start saying that they don't care about such things, the louder we as a community say to market manipulators to come and screw with our money. Are you sure you want to be part of that problem?
same coin with exchanges with fake volume still remains on the list. they may not get better cause they have already made blacklist of traders and everyone is leaving. they make their money in ridiculous way, through high transaction fee and sorts, now they beg team to get token listed on their exchanges to exploit traders. wash trading is least of their worries while people monitor exchange visits daily Everyone is learning and moving to reliable exchanges and the decentralized exchanges.
I don't think that will be a problem for me.
As long as I can take the profit from the trade, I don't care of what the bots doing because I think if I can follow the bot moves, then I can have a chance to make a profit even for just a small profit.
But yes, I am sure that will happen in all exchanges especially if, in that exchanges, whales have stayed and trying to buy and sell the coin.
Following bots move? I don't think that would really be an easy one.As long as I can take the profit from the trade, I don't care of what the bots doing because I think if I can follow the bot moves, then I can have a chance to make a profit even for just a small profit.
But yes, I am sure that will happen in all exchanges especially if, in that exchanges, whales have stayed and trying to buy and sell the coin.
I'm not really surprised for this wash trading yet this been happening and rampant on exchange market nowadays.If you do have keen eyes then you would probably
spot on these things.This is why exchange is always been shady where generating volume just for the sake of possible attraction.
Fake volumes could deceive traders. It's just disappointing that most trading volumes that we see are already manipulated but as long as we stick to our simple trading strategy, we would still be able to trade and gain without being deceived by fake volumes.
Its not that simple. Fake volume is not a threat for most people and everything in the crypto market is manipulated and centralized to an extent which is why investors won't just pull out their funds just because of manipulation in this aspect. 
That's the reason why we have to be observant and keen on choosing a reputable exchange. Fake volumes could deceive traders. It's just disappointing that most trading volumes that we see are already manipulated but as long as we stick to our simple trading strategy, we would still be able to trade and gain without being deceived by fake volumes.
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How you can follow the BOT, you doing manual right. The problem of wash trading is, we can see the volume was really high but the order its really shit example at Digifinex the order its really small even i can't sell it my asset for only 100$. That's amount was pretty low for Top Rank 10 Exchange by Coinmarketcap, that's why i really hate this kind of exchange. This is no new data. It's been discussed widely in the last few weeks. However, there's one thing to remember, most wash trading is done by projects to boost of their own token's daily trade volume. Exchanges merely facilitate this.
but if you think that the most wash trading is to boost the daily trading volume. So in each exchange that got mentioned above and the most daily trade is bitcoin.
so why does anyone will boost bitcoin daily volume which is already high from all exchange?
That's their way of manipulating exchanges just to make their currencies more appealing to traders which can attract more investors but it still has a negative effect on traders as well.
It's deceiving and confusing at the same time which may lead traders to create wrong decisions in trading because they could overvalue and manipulate those coins.
It's deceiving and confusing at the same time which may lead traders to create wrong decisions in trading because they could overvalue and manipulate those coins.
I don't think that will be a problem for me.
As long as I can take the profit from the trade, I don't care of what the bots doing because I think if I can follow the bot moves, then I can have a chance to make a profit even for just a small profit.
But yes, I am sure that will happen in all exchanges especially if, in that exchanges, whales have stayed and trying to buy and sell the coin.
As long as I can take the profit from the trade, I don't care of what the bots doing because I think if I can follow the bot moves, then I can have a chance to make a profit even for just a small profit.
But yes, I am sure that will happen in all exchanges especially if, in that exchanges, whales have stayed and trying to buy and sell the coin.
This is no new data. It's been discussed widely in the last few weeks. However, there's one thing to remember, most wash trading is done by projects to boost of their own token's daily trade volume. Exchanges merely facilitate this.
Wash trading is when someone buys and sells the same pair simultaneously to increase the trading volume. It's a pure form of market manipulation. Some exchanges use their own bots while some others outsource. Exchanges usually receive a lot of offers to manipulate the market on their website.
Exchanges ranking if we use Coinmarketcap data
Exchange ranking without the noise
Binance is the first by volume but still has a 10% wash trade. And while a lot of people were bashing Kraken, it's one of the most trusted exchanges regarding wash trade.
(data comes from the blockchain technology institute https://www.bti.live/reports-april2019/)
Exchanges ranking if we use Coinmarketcap data
Exchange ranking without the noise
Binance is the first by volume but still has a 10% wash trade. And while a lot of people were bashing Kraken, it's one of the most trusted exchanges regarding wash trade.
(data comes from the blockchain technology institute https://www.bti.live/reports-april2019/)
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