is CoinMarketCap Safe?
Before we start our Coinmarketcap review, we would like you to know that Coinmarketcap acquired Binance in April 2020. We should not forget that it is managed by binance. It allows scammers to operate on their platform.
How Coinmarketcap Listing Happens
First of all, we would like to point out that, the administration enables cryptocurrency scammers. It is really easy to get listed on the site. You can even create automatic coins.
It lists everyone who says they are issuing coins. it does not question the veracity of the companies in any way. It is enough to have any website for listing, scammers reach people using this situation. Indirectly encourages fraud.
Since it is so easy to enter the market, all fraudsters can get inside.
Cmc Manipulate
We see that the data he gives on his website is completely wrong. You can determine your exchange rankings yourself, because you can buy advertising with money. It controls the contention between exchanges with fake volume.
There is nothing you can’t buy with money, you can buy everything you want with money.
Cmc Team
Just looking at trustpilot comments, we see that 500 people have suffered losses. You invest money in a coin listed on the market and you are being scammed. If you share this on your page, you will be blocked.
For example, if you comment on fraud coins such as Gmt.io, you will be banned. Admin silences you, not the person who scammed you.
Listing Process and Potential Risks
The process of getting listed on CoinMarketCap is notably easy, which could be a double-edged sword. While it allows for a wide range of cryptocurrencies to be featured, this ease of listing also opens the door for fraudulent entities. The platform does not rigorously verify the authenticity of the coins or the companies behind them. This lack of stringent verification indirectly facilitates fraudulent activities, as scammers can easily reach potential victims.
Data Manipulation Concerns
There are concerns about the accuracy of the data presented on CoinMarketCap. The platform allows for paid promotions, which can influence the ranking of exchanges. This practice can lead to manipulated data, including the creation of fake trading volumes. Such manipulation distorts the true picture of the market, misleading investors and traders.
User Feedback and Censorship
User feedback on Trustpilot and other review platforms indicates significant dissatisfaction, with over 500 people reportedly suffering losses. There are claims that CoinMarketCap blocks users who share negative experiences or call out fraudulent coins. This censorship raises serious concerns about the platform’s transparency and reliability.
Final Thoughts and Recommendations
Given these concerns, it is crucial for users to approach CoinMarketCap with caution. Do not blindly trust the coins listed on the platform; thorough independent research is essential. Remember, the ease of collaboration with CoinMarketCap can be exploited by unscrupulous entities. Users are encouraged to report any suspicious projects and to always conduct their own due diligence before investing in any cryptocurrency.
Why CMC Permits
We know for sure that they use this platform to control the cryptocurrency market.
The website is also a source for the ranking of crypto exchanges. In this way, it can hold the whole market in its hands.
Do not trust any coin you see on Coinmarketcap. You should do more detailed research yourself.
CoinMarketCap is definitely not a reliable platform. Never forget that it is very easy to cooperate with them
Tell us about any suspicious projectst.
