Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: Jee on June 21, 2019, 08:34:05 AM
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New small exchanges I am not going to name then becouse i have no profe, but i am asking is it another face of Scame ICO teams who did so many icos and run away of investors monye.
I will imagen scenario of small exchanges.
1. Project pay some fee and deposit his token in exchange to conduct ieo in the exchange and will get free listing.
2. exchange conduct the ieo in few minutes and hold the funds. Even an announcment what was amount of sale is not communicated.
Is this not a scam but this time the players is not the same. This time the victem is the project and the scammer is the smale exchange.
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Why create this topic then when you do not have a strong proof?
You mentioned the exchange held the funds and the total sales were not disclosed but no mention of the terms between the exchange and the project. It could just be a delay due to some technicalities.
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Such coins who listed on small exchanges are more likely to failed because of less liquidity even IEOs can not be successful on such exchanges but we can not say scam to those exchanges because everything takes time to develop. New Exchanges can not be developed quickly it takes time to develop and we never know later that exchanges will be popular as well.
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It is a dilemma. Every day we have new exchanges. People advise to us do not use new exchanges till they prove themselves. But if nobody uses them how can they improve their condition?
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The influx of exchanges in the crypto world is just annoying. You see many projects listed on this exchanges turns failure on the long run. Traders are hesitant to stay in this kind of exchanges because of low volume. Much better to have a few exchanges which volume and liquidity is big so that traders will not be doubt to put their money to their platform.
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We can see it in Latoken because I see Latoken created a lot of IEOs but the fact is that the listing doesn't exist.
I do not blame Latoken or look at the sale of the token but in fact there is no financial strength in Latoken to boost prices when listing.
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Though the OP didn't provide any solid proof but I totally agree that small exchanges can be used for scam purposes. Listing fee of small exchanges are relatively cheap. Some ICOs can just pay a small amount to list their tokens on shit exchanges to fulfill their promises that tokens will be listed. That's why you see so many tokens on small exchanges have zero volumes. Checking their telegram groups, you might not see their teams active any more.
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Well, a new exchange may be the only a starter and they need to grow. However, we need to analyze whether the new exchange is real or not, having good management or not, what coins listed, the activeness of their team of group community, and how the effort in listing the valuable coins. I think there may be scammers, however, not all of them are scammers, some of them are worthy and legit.
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If that exchange is competitive maybe there's no problem with respect to the potential growth of it's trading volume. Most new exchanges did some ICO promotion, but not legit with their launching because eventually their making fake trading volumes that probably fall more trader to trap of trading losses.
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As we know today lots of cryptocurrency exchange was already established and competing the volatile cryptocurrency market. But in terms on IEO campaigns just be careful to participate in those newbie exchange, be wary of scams sometimes shits happen without noticing it.
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Not all of the small exchanges are the other types of scam ICO. In my opinion, we must analyze whether we decide the exchange is a scam or not. We can analyze from how the exchange system, community, coins listed, team, and also another review.
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I share in your fear and not just because they are small exchanges but because of the numerous exchanges springing out
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It seems like that because a lot of Exchange is now opening for the IEO and even more so called OEO.
ICO, STO, IEO and OEO are new things but have been circulating in cryptocurrency for a long time, and it's better to recommend leaning more on the volume like the IEO at Binance.
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New small exchanges I am not going to name then becouse i have no profe, but i am asking is it another face of Scame ICO teams who did so many icos and run away of investors monye.
I will imagen scenario of small exchanges.
1. Project pay some fee and deposit his token in exchange to conduct ieo in the exchange and will get free listing.
2. exchange conduct the ieo in few minutes and hold the funds. Even an announcment what was amount of sale is not communicated.
Is this not a scam but this time the players is not the same. This time the victem is the project and the scammer is the smale exchange.
I don't think there has been report of scam on recent IEOs even at the small exchanges IEOs projects levels. You have to be sure of these information before making your post, at least, to alert the new investors of these exchanges sites.
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, but i am asking is it another face of Scame ICO teams who did so many icos and run away of investors monye.
I will imagen scenario of small exchanges.
I don't think there has been report of scam on recent IEOs even at the small exchanges IEOs projects levels. You have to be sure of these information before making your post, at least, to alert the new investors of these exchanges sites.
Why create this topic then when you do not have a strong proof?
I asked is it another face of Scame ICO teams who did so many icos and run away of investors money and I stated it is an imagine scenario, i promise i am digging into this interesting topic and will sure find my way to gather info with name of exchange.
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Exchange must have a clear marketing program. Without marketing, the exchange will not be able to get real traders. Therefore, it is necessary to think very carefully about your participation in one or another ICO exchanges - is it necessary? Usually participation in such an ICO is a mistake.
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That is why we have to be careful when we want to trade in small exchanges, because I myself have experienced entry into new and small exchanges, because indeed at that time I had Crypto coins which were only sold there. But it turned out after I had deposited, and had already sold it but I could not withdraw my money. And this will be a valuable experience for me.
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what information do you think the new exchanges should provide to users so the users can build trust and start use the this new exchanges.
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That is why we have to be careful when we want to trade in small exchanges, because I myself have experienced entry into new and small exchanges, because indeed at that time I had Crypto coins which were only sold there. But it turned out after I had deposited, and had already sold it but I could not withdraw my money. And this will be a valuable experience for me.
Maybe you can ask on the telegram channel and see information from the withdrawal limit before trading.
my friend also experienced the same thing and the exchange is now closed with most of the tokens that cannot be withdrawn
(Bitpaction exchange scam)
what information do you think the new exchanges should provide to users so the users can build trust and start use the this new exchanges.
The new exchange requires users to fill out KYC/AML forms because that is the rule, but before investing, make sure you see the details of the project
The new exchange will always have an active admin to help with your problems at any time on the telegram channel or via email, handling problems quickly will make me believe in new exchanges, such as filling out KYC forms and minimum crypto withdrawals, etc.
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The new exchange requires users to fill out KYC/AML forms because that is the rule, but before investing, make sure you see the details of the project
The new exchange will always have an active admin to help with your problems at any time on the telegram channel or via email, handling problems quickly will make me believe in new exchanges, such as filling out KYC forms and minimum crypto withdrawals, etc.
KYC/AML forms, help with our problems is not a grantee that the exchange is legit , it maybe a trick to gather more users then scam.
I think studying the team and be sure that they are real and known and checking registration country may help the exchange in adding trust from users.
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What is your matter to say this thing? Maybe there are some scam exchanges that come up in this crypto world. But all new small exchanges? I don't think that all of them. Some of them are probably. Because I ever see the chance of the small exchange that they really struggle to provide a good system, platform, and also coins to the market.
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No now is just a means of trading, but some people can make use of it in other to get unnecessary advantage over other investor or other people
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I also ever think yes. Sometimes, IEO may be the right choice for crowdfunding right now. But, listing on the small exchange with very small trading volume? I don't think that it is good. IEO may be more successful if you choose better exchanges, at least, the trusted exchanges.
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, but i am asking is it another face of Scame ICO teams who did so many icos and run away of investors monye.
I will imagen scenario of small exchanges.
I don't think there has been report of scam on recent IEOs even at the small exchanges IEOs projects levels. You have to be sure of these information before making your post, at least, to alert the new investors of these exchanges sites.
Why create this topic then when you do not have a strong proof?
I asked is it another face of Scame ICO teams who did so many icos and run away of investors money and I stated it is an imagine scenario, i promise i am digging into this interesting topic and will sure find my way to gather info with name of exchange.
here is some of my fair came to almost reality,
IDAX.pro SCAMMED crypto projects for up to 5,000,000 USD!
https://medium.com/@info_85454/idax-pro-scammed-crypto-projects-for-up-to-5-000-000-usd-c2d10a0dd14e
https://twitter.com/heybiod/status/1141697959823736834
(https://i.imgur.com/ogtNASH.png)
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Why create this topic then when you do not have a strong proof?
You mentioned the exchange held the funds and the total sales were not disclosed but no mention of the terms between the exchange and the project. It could just be a delay due to some technicalities.
this can be prove my dearm what you think? IDAX.pro SCAMMED crypto projects for up to 5,000,000 USD!
As many of you know, Crypto Market Ads (CMA) project had IEO on IDAX.pro exchange recently. First time it was canceled by IDAX.pro because…
https://medium.com/@info_85454/idax-pro-scammed-crypto-projects-for-up-to-5-000-000-usd-c2d10a0dd14e
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Sometimes, it is going to be a fact and true thing that small exchange also signs the scam to be. Well, we may be interested in certain IEO, but for the new IEO listed on the small exchange with low trust, it will also decrease the trust of the investors.
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you have a point. a project that wants to build on it's own. it looks like a scam to honest. but before you think of investing, you need to follow up with the team properly to know the updates and what is happen. else you might fall as a victim.
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IEO is trending right now, but I never read or heard any small exchanges that they are closing or running the investors money after the ICO or IEO. Check the volume and their activity. When the volume but its active, I guess its fine they just started their exchanges.
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it's true with everything you say, that at present there are many ico projects that do ico scams, and that is very detrimental to investors.
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2018 was the year of the exchanges, they earn BIG profit even in the pump & dump stages, so it was understandable that building a crypto exchange became the trend & scam way, they did not even publish the founding team information. These new tiny exchanges issue tokens (ICO), collect listing fees, don't check projects, or create a scam project and promote them. I think some big exchanges like Binance, Houbi, Coinbase, Remitano are enough for the community to trust and use.
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It is happening already! Some new comes do abundantly sensible! look into the Gamexchain or perhaps the newer Matic or Harmony! These new projects are overcoming recent good coin's rank day by day! Bittorent comes into high fifty already, next target is high 20! this is often a positive sign though!
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I think those investors will going to scam or being victim after all this scenario goes because they're the one who funded the project and will used it to get list initially in some small exchanges.
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they did not even publish the founding team information.
Yes, Team of any project is one of the important factors to look at, if some one is legitimate, he will show him self to people and that will give trust between project and uses.
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I think until we don't have any proof of scam it is not right to say that new exchanges are a scam. There may be some but not all exchanges are scam some are really good and new decentralized exchanges are the future. I think in future they will replace big centralized exchanges.
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I was in a small exchange, and it really disappointed me. How could I not withdraw the coins I transferred back. Therefore, I suggest that friends who want to enter a small exchange must seek information first, so that what I experience happens to you.
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I think until we don't have any proof of scam it is not right to say that new exchanges are a scam.
I cant say all some are good i was just point out a concern, some of my concern came to be true. Look in the thread up you see a link for an article about idax scam. And they thier office in uk was closed.