xBTCe exchange is a scamsteemCreated with Sketch.

in steemit •  7 years ago 

The xBTCe exchange listed as one of the biggest just after Poloniex, presents all the signs of being a scam.
First of all the trade numbers they present are false, the site is basically dead, if one tries selling anything their they'll get very very few traffic, very far from the daily $221,053,459 they claim, if any at all.
Lets take a look at one off the exchanges at their site.
EMC/USD. Highlighted you can notice a huge spread Buy:103 Sell:143, a whopping 40%, the best spread we could see on poloniex hardly reaches 1-2% and the reason for that is that Poloniex is full of real traders that bring the buy and sell prices close.
Another sign of xBTCe being a desert is that unlike real exchanges of the same size where you have transactions every minute, here you have one buy and sell every 2 hours, simultaneously and for the same amount, which clearly indicates a bot running to boost the numbers, attract victims and give an appearance of credibility to a dead scam site.

Finally another indication of how legit this site is, would be that if you open an account you will be able to deposit but not to withdraw until the real scans of your real documents that you've furnished to an unverified russian run site get verified, which from our experience will never happen.
Such scam sites are nothing new on the market, what's more surprising is that coinmarketcap.com still lists them and gives legitimacy to fake claims and informations they spread to attract victims
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