• Register
  • Login
Hardforking.com
  • Home
  • Play to Earn
  • Crypto Culture
  • Analysis
  • Community
  • Discussion
  • Scholarships
    • Apply for Axie Scholarship
    • Hardforking Existing Scholars
No Result
View All Result
Submit Content
  • Home
  • Play to Earn
  • Crypto Culture
  • Analysis
  • Community
  • Discussion
  • Scholarships
    • Apply for Axie Scholarship
    • Hardforking Existing Scholars
No Result
View All Result
Hardforking.com
No Result
View All Result

Wash Trading – Cryptocurrency Fraud – What You Need To Know!

Share
Facebook Twitter Google+

    What is Wash Trading?

    Wash Trading Cryptocurrency Fraud
    image Attribution: Santeri Viinamäki

    If you have been in Bitcoin and Cryptocurrency trading for more than a year, I hope you know about wash trading and how to spot corrupt practices. If you are new to crypto trading, you need to know about it. In this short article and video, we will give you an overview and resources to get yourself educated about wash trading and how to know if you are using a fraudulent cryptocurrency exchange.

     Cryptocurrency Fraud

    Using cryptocurrency exchanges is almost unavoidable if you want to trade. One of our Hardforking team got burnt on Bitfinex in 2016. The exchange was hacked and he lost a significant amount of his Bitcoin. This article is not about hacks or external threats, I think we all know those risks. This article is about the threat from within, wash trading and fake volumes. Why is this an issue? Wash trading allows exchanges to fake the amount of trading happening on their exchanges thus attracting you to use them with high liquidity. Getting your orders through could be a problem and at worst the exchange could get shut down or they simply shut down and disappear with your money. I think we will see this happening in the near future.

    Pump and Dumps

    Many exchanges get paid to list coins and it is of real concern if they are listing a coin exclusively as this gives them the ability to wash trade that coin and make it appear like it is a hot coin to buy. You can get burnt when the coin takes off you buy in and then it crashes. The reality could be that it is just that exchange trading it, ie buying and selling it themselves. Be very careful especially with small-cap coins.

    How to Check Your Crypto Exchange

    This website is an excellent resource and I strongly advise checking it out. It will help you asses the real trading volume and you can spot crypto exchanges using wash trading to increase their trading volume.

    Help Support Us

    Please subscribe to our YouTube Channel, follow us on Twitter or subscribe to our newsletter. We are committed to educating people on Bitcoin and your support is greatly appreciated.  The Hardforking team wish you and your families a happy New Year and all the best for 2019.

    Follow @Hardforkers

    Related articles:

    Bitcoin’s Moon is not made out of cheese

    The best Bitcoin YouTube Channels at a glimpse.

     

    Category: News
    Tags: bitcoinCrypto ExchangeCryptocurrency ExchangeCryptocurrency FraudExchange fraudwash trading

    Related Posts

    Too late to buy crypto? Exit strategies and coins that can still 10x discussed.
    Analysis

    Bitcoin challenges new levels both in the chart and in peoples minds.

    https://www.youtube.com/watch?v=hP0gBvWR_Xo The ride is as crazy as ever What next for the crypto market In a week where Goldman...

    by Sean
    March 25, 2022
    Reviews of Blockchain Projects and trading cryptos
    News

    Reviews of Blockchain Projects and trading cryptos

    Reviews of Blockchain Projects The attached video is episode five of 1 BTC and 32 Ethereum. In this show...

    by Sean
    October 1, 2020
    Project reviews and trading competition. Which Cryptos are good investments?
    Commentary

    Project reviews and trading competition. Which Cryptos are good investments?

    Project reviews When we discussed creating a show that would educate and entertain people new to the world of...

    by Sean
    September 16, 2020
    Technical analysis Bitcoin Ethereum and Altcoins – What do the charts say?
    News

    Technical analysis Bitcoin Ethereum and Altcoins – What do the charts say?

    Technical Analysis Technical analysis of Bitcoin Ethereum & ALTCOINS. We look at whale cluster at $10570 and if we...

    by Sean
    September 14, 2020
    Next Post

    Who is Satoshi Nakamoto?

    Comments 1

    1. Michelson.Phil says:
      2 years ago

      The power developed by a person with conviction is greater than the one who only has interest

      Reply

    Leave a Reply Cancel reply

    Your email address will not be published. Required fields are marked *

    POPULAR POSTS

    • Nine Chronicles Guide & Gameplay

      0 shares
      Share 0 Tweet 0
    • Axie Infinity Explained

      0 shares
      Share 0 Tweet 0
    • Moon Cycles Numerology Gematria for Trading and for Life with Waters above Crypto.

      0 shares
      Share 0 Tweet 0
    • Earn Crypto and equity – Learn about our cutting edge use of blockchain

      0 shares
      Share 0 Tweet 0
    • Everything You Need to Know About Revv Racing

      0 shares
      Share 0 Tweet 0
    Hardforking.com

    We are a Global team of analysts, miners, traders, consultants, and content creators. Our mission is to help grow the adoption of Bitcoin, Blockchain and good Cryptocurrency projects.

    © 2021 Hardforking

    No Result
    View All Result
    • Home
    • Play to Earn
    • Crypto Culture
    • Analysis
    • Community
    • Discussion
    • Scholarships
      • Apply for Axie Scholarship
      • Hardforking Existing Scholars

    © 2022 JNews - Premium WordPress news & magazine theme by Jegtheme.

    Welcome Back!

    Login to your account below

    Forgotten Password? Sign Up

    Create New Account!

    Fill the forms bellow to register

    All fields are required. Log In

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In

    Add New Playlist