Quote from: nutildah on January 12, 2020, 10:33:12 AM

Quote from: Onika84 on January 12, 2020, 08:57:45 AM

Why does everyone think negatively about coinsbit?

In addition to obviously faking their trading volume, they have a flood of complaints from users about being locked out of their accounts. Here is an example:

https://bitcointalk.org/index.php?topic=5183338.0

They also have a shady "investbox" program that encourages users to buy & hold tokens for ICOs that either have very little information about them or else are outright scams. In addition, they continue to list a lot of fraudulent projects. KEP immediately comes to mind.

As far as the fake volume is concerned, just look at these rankings on CMC for 24-hour volume:

by reported volume: #6
by adjusted volume: #4
by liquidity: not in the top 50

What does this mean?

Quote

The Liquidity metric by CoinMarketCap is designed to eventually replace volume as the default metric when ranking market pairs and exchanges...

Liquidity refers to the ease of being able to trade in and out of an asset, or in this case cryptocurrencies.
The Liquidity metric by CoinMarketCap takes into account a wider range of key variables from the order book, such as the distance of the order from the mid-price, the size of the order and the relative liquidity of the asset in question...

The adaptive methodology will make the Liquidity metric very difficult to game as orders would need to be placed close to the mid-price, or risk being counter-productive to the Liquidity metric scoring.

Basically, Coinsbit is manipulating the shit out of their volume. If they are being dishonest about this, dishonest about why they are locking users out of their accounts, and listing tokens that are proven scams, it makes you wonder what else they are being dishonest about...

It is true. 3 days ago I made an erc20 deposit there, and I also did not understand that the token will be pumped at that time, and it turns out that my deposit never entered and landed in my wallet address on that exchange. and for now status wallet shows off. like a normal transaction they move token from my deposit addres into the address of their core wallet. this is a structured scam, and as always for support will never respond to complaints and deposit problems