Many cryptocurrency exchanges display fake volumes and if you felt otherwise then Blockchain Transparency Institute is here with some data to change your mind. If you didn't know this before you are probably surprised by this fact, but don't be.
There's a whole lot of information on their website here and I won't repeat much of it in my post. But the basic nature of this post is to highlight the importance of trading on proper exchanges.
Many times in the past you may have faced problems when trading on exchanges that displays a high trading volume but when you trade manually you face issues with order matching etc.
Exchanges and whales use various methods to inflate the numbers and bot usage is very common in these cases.
Included in this report we have calculated the true volume of the CMC top 25 BTC trading pairs. Most of these pairs actual volume is under 1% of their reported volume on CMC. We noted only 3 out of the top 25 pairs not to be grossly wash trading their volume, Binance, Bitfinex and Liquid.
Please read the full report on their website and be wary of scammy exchanges. Personally I generally stick with Binance for day to day trading and haven't ever faced any issues with them.
If you like my work kindly resteem it to your friends. You may also continue reading my recent posts which might interest you:
- Why You Should Vote For Firepower As Witness—Witness Campaign Post From India!
- Steem.Chat Contest #67
and this is why we need listings on real exchanges, shady Korean exchanges bring only problems.
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quality analysis
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the list is not complete but wow..only 3 have real volume?? wow
I heard that small volume ex takes from the big ex whenever a big order is filled which may explain why they take make you wait, it is like when a restaurant is out of bread and they have to literally send someone to buy it to the nearest bakery but then makes you, the client, pay the difference in fees...but then again big ex have annoying rules like binance does not allow you to trade less than 10$ while tiny ex do ... the best way to trade is remotely with a reliable api while your assets are "safu", really! peace
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I was curious to see Bittrex on the list.
Thanks for making this facts known, #Steemit blogging is helpful because this type of true information may not be easily found on Google.
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You cant really say wich site shows accurat data
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You got a 61.41% upvote from @ocdb courtesy of @firepower! :)
@ocdb is a non-profit bidbot for whitelisted Steemians, current max bid is 40 SBD and the equivalent amount in STEEM.
Check our website https://thegoodwhales.io/ for the whitelist, queue and delegation info. Join our Discord channel for more information.
If you like what @ocd does, consider voting for ocd-witness through SteemConnect or on the Steemit Witnesses page. :)
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i'm not saying market manipulation by wash trading volume, spoofing and other method is a good thing. But this is also create opportunitities (pun intended) too create bigger wave price so trader can get profit from it.
If from the start crypto market not manipulated, the price maybe still around $1 and not giving birth to many crypto billionaire.
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