Bithumb DEX deceives users and is holding a contest for traders

Bithumb DEX deceives users and is holding a contest for traders

Team, a subsidiary of South Korean exchange Bithumb, launched a few weeks ago, is a decentralized exchange in Ethereum blockchain, in connection with the increase in trading volumes have decided to hold consisting of two parts, the competition for traders.

The first part of the contest will be held from 1 to 11 November. Awards will be distributed among the 1,000 participants, who will be able to create a trading volume higher than 1 ETH for one of the following coins: CTXC, DCC and NEXO. These coins equivalent to the ETH and prizes will be distributed according to the table below:

The next part of the contest is a lottery. In November, each week will be selected at random, 10 new registered users, each of which will translate the tokens in the amount of 0.5 ETH.

More information can be found on the website of the exchange.

Bithumb deceives and misleads

No matter how good it sounded on the website of the exchange claim that the platform occupies the first place among all decentralized exchanges for trading volume.

In proof of this, no statistics are given. Although it is very easy to check. Just go to the website Bithumb DEX and see the following picture:

Rounded in a big way, trading volumes at the exchange amounted to only ETH 680 or $136 000. For comparison, on the exchange of IDEX, day trading volume has more than $2 100 000. And even exchange Bisq, the bulk of which generates a pair of XMR/BTC, has about $200 000. So it’s safe to say that Bithumb DEX is cheating and introduces confusion.

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