How deceptive are CEX events?

[RustyDegen]

How well do people still fall for CEX promotions? I'm talking about those ones that always come out around the holidays time that says one lucky person can win a car or a helicopter 😂 I saw one today, 20 million in trading volume for you to win the car lmaooo😂

Funny thing is some of those events are usually decent, you can get like 100 to 200 bucks sometimes, but I don't get why they have to use win a car or win a trip to Dubai as clickbait😂

[God Of Thunder]

How well do people still fall for CEX promotions? I'm talking about those ones that always come out around the holidays time that says one lucky person can win a car or a helicopter 😂 I saw one today, 20 million in trading volume for you to win the car lmaooo😂

Funny thing is some of those events are usually decent, you can get like 100 to 200 bucks sometimes, but I don't get why they have to use win a car or win a trip to Dubai as clickbait😂

If you are a gambler and played in many casinos, I believe you have seen Fortune Wheels with a grand prize of 1 Bitcoin. Casinos like BC game, Betfury, and many others have these fortune wheels where they offer a chance to win a Bitcoin for free. But the question, is have you ever seen anyone winning 1 Bitcoin from these spins from those wheels?

I believe this is just a business strategy and an advertisement that makes the player come back every day to that casino. Similarly, the exchanges offer such things so people join their platform and try them. I don't know if anyone ever won a car or a big prize which they mention. But you have to understand that it's a business strategy.

[TomPluz]

Well, they are doing it - the clickbait style - all because they are getting away with it. Actually, this is not just a problem within the players related to the cryptocurrency industry and this is a general problem anywhere. Deceptive strategy as this should be called, this is fooling people just to get their attention and business. CEX platforms can do whatever they want all because there is a lack of transparency and there is no way for us to make them accountable.

[milewilda]

How well do people still fall for CEX promotions? I'm talking about those ones that always come out around the holidays time that says one lucky person can win a car or a helicopter 😂 I saw one today, 20 million in trading volume for you to win the car lmaooo😂

Funny thing is some of those events are usually decent, you can get like 100 to 200 bucks sometimes, but I don't get why they have to use win a car or win a trip to Dubai as clickbait😂

Thats how business works and they would really be that making those prizes or bonuses or promotions to make it look attractive as possible. If the said prizes are way too good then expect that it will be needing up that criteria for you to be that eligible or having the chance to win up the prize. Come to think that these are businesses and its normal that they will really be that doing promotions on which they do know that they can make money with it despite of those expensive prices but they do really know on how to play up the game and thats how business works. Make good promotions then make good revenue or money with it.

[Crypto Library]

How well do people still fall for CEX promotions? I'm talking about those ones that always come out around the holidays time that says one lucky person can win a car or a helicopter 😂 I saw one today, 20 million in trading volume for you to win the car lmaooo😂

Funny thing is some of those events are usually decent, you can get like 100 to 200 bucks sometimes, but I don't get why they have to use win a car or win a trip to Dubai as clickbait😂

I don't know which cex you are talking about. But always try to ab those exchangers who only shows these kinds of promotion especially those platform who were new or who don't have much volume. I always say this kind of platform as a ponzi scam.
I also don't try this kind of promotion on any cex. I just try out an event on the bybit exchanger on the Wednesday and DOgs listing. Yes I have some bucks on that event but I won't gonna participate any of these event like that in the future. Now understand by yourself how was those event even then I earn some bucks from them I won't go now participate in the future.

[Faisal2202]

How well do people still fall for CEX promotions? I'm talking about those ones that always come out around the holidays time that says one lucky person can win a car or a helicopter 😂 I saw one today, 20 million in trading volume for you to win the car lmaooo😂

Funny thing is some of those events are usually decent, you can get like 100 to 200 bucks sometimes, but I don't get why they have to use win a car or win a trip to Dubai as clickbait😂

Because those who have millions for them these prizes are just like 100 and 200 dollars to us. I saw a person on social media probably rich won Mercedez car and he was upset that why he won this model of Mercendez haha and I was like what! This also a thing.

I mean a person won a car and he is not grateful but complaining that he should have win another car, this also means that we must try to relax our wishes and mind in order to get peace otherwise even after being rich peace won't be there for us.

Speaking of CEX I have seen one that gives $5k bonus just for signing on their exchange yeah, that's right I did not took itseriously,y but a reputed person was advertising it but still I did not took it seriously because there is always a catach in such prized or bonuses too.

[Bobcrypto]

I think there are several CEX exchanges out there that never show any seriousness especially the promised rewards for participants after the end of the promotions. Sometimes, I see these promotions on some of these exchanges as a way to increase their profits through trading activities but never distribute the rewards because it is their gimmick to make users believe that these exchanges are doing well, unfortunately, they are not.
I have participated on a new project coin listed trading competition on certain exchanges but never received the rewards, and so are some of the CEX exchange's think they can make gains through deceptions. To participate on promotion on CEX exchanges, these few exchanges maybe   reliable in terms rewards distributions, Binance, Kucoin, gate etc.

[Zed0X]

~ but I don't get why they have to use win a car or win a trip to Dubai as clickbait😂

I don't think it's entirely deceiving. Maybe you feel that way because you don't trade big which also means you are not really the intended target of the car or Dubai trip promo. They most likely have users that regularly reach that target volume on a monthly/quarterly basis or maybe close to it.

[libert19]

I don't bother with chance based events anymore whether it be on cexes or elsewhere, I don't find effort involved to be worth it even if it may be just pressing 'spin the wheel' button.

[target]

How well do people still fall for CEX promotions? I'm talking about those ones that always come out around the holidays time that says one lucky person can win a car or a helicopter 😂 I saw one today, 20 million in trading volume for you to win the car lmaooo😂

Funny thing is some of those events are usually decent, you can get like 100 to 200 bucks sometimes, but I don't get why they have to use win a car or win a trip to Dubai as clickbait😂

If you are a gambler and played in many casinos, I believe you have seen Fortune Wheels with a grand prize of 1 Bitcoin. Casinos like BC game, Betfury, and many others have these fortune wheels where they offer a chance to win a Bitcoin for free. But the question, is have you ever seen anyone winning 1 Bitcoin from these spins from those wheels?

I believe this is just a business strategy and an advertisement that makes the player come back every day to that casino. Similarly, the exchanges offer such things so people join their platform and try them. I don't know if anyone ever won a car or a big prize which they mention. But you have to understand that it's a business strategy.

And their ads been on their website for god knows how long. I also have not heard of anyone winning those prizes that says up to 5BTC.

We all know it's false advertising but because there is no way to find out they are telling the truth but to win, people are trying our luck.  A new car would be tempting actually.

[Crypto Library]

And their ads been on their website for god knows how long. I also have not heard of anyone winning those prizes that says up to 5BTC.

We all know it's false advertising but because there is no way to find out they are telling the truth but to win, people are trying our luck.  A new car would be tempting actually.

In gambling even a player won the jackpot and if the casino reval that player information maybe that could be a problem for that gambler especially from the kidnapper, Robbers etc.
And the another thing is most of the time the gaming platform set their rules like that way where if the people will try for to get lambo then because of the terms and condition there will huge profit for the gambling platform and I think on that case for casino site I don't think it will doesn't matter to pay only just a lambo.

[Findingnemo]

Some of them are baits but it's really a great way to encourage users to trade more and that's how the exchange makes money in the first place. Also there won't be just single price alone in case of events, there will be some grand prize like 1st, 2nd and 3rd then there will be top50 and top100, follows.

However it's not really possible for an average trader to win such events since most of them announce winners based on trading volume so someone can just make it to top with few trades who has big capital.

[gunhell16]

We know that Cex is not a charity, but a business, if they do something like that, it's because it's part of their marketing strategy on their platform for traders who use their exchange site. That's why they have a marketing team called.

So, for me, it's not deceptive what they do, though, I don't avail of the promotions they have because their criteria for their qualifiers are also high for their tricks.

[joniboini]

What are the criteria for deceptive events? Limited prize with exaggerated marketing materials? I don't think I've found one event that doesn't fit that criteria. It's a bit of a strong word to use though, as mentioned above.

It's definitely not a good idea to participate if the activities aren't what we usually do. For example, participating in trading volume events is a bad idea if we don't trade regularly. If it's a chance-based event like making $5 worth of deposit I think it's still worth trying, as long as there are no complicated KYCs. It's better to treat them on a case-to-base basis IMO. CMIIW.

[Asiska02]

How well do people still fall for CEX promotions? I'm talking about those ones that always come out around the holidays time that says one lucky person can win a car or a helicopter 😂 I saw one today, 20 million in trading volume for you to win the car lmaooo😂

Funny thing is some of those events are usually decent, you can get like 100 to 200 bucks sometimes, but I don't get why they have to use win a car or win a trip to Dubai as clickbait😂

How true can they be that one will depend so much on them to give the actual reward for it? I don’t really want to be so interested in stuffs like this. They entice people to participate in events like this in order to get engagement and patronage for their services but I don’t really see the need of using such a big price. They can be outdated in recent years and they should focus more on other enciting things that will convince their customers that they can win such prices and even when they do, they will be disbursed and not have to go under a long procedure to claim such rewards.