Topic: Bad experience with exchanges - page 3. (Read 801 times)
I had an open sell order on Cryptopia for a relatively unknown coin that was trading there. It wasn't a lot. After that they closed down and everyone knows the rest. I though about using HitBTC a few years ago but I decided against doing that. I am glad I did since I have been reading different types of stories where users claim that their funds got locked away and they never managed to withdraw them.
I used to use the poor Yobit exchange. They detained my 0.1 BTC and never returned it! I contacted the support team many times but they did nothing! After much effort to recover the money, I gave up! Stay away from Yobit trading platform.
If you want to know reviews on a specific exchange, then I would advise you to use the search.
Personally, I had my first negative experience with the Idex exchange, but not through the fault of the exchange, but because of my ignorance.
On the index there is a minimum amount for order execution, I did not have enough. I decided to buy a coin that was not liquid and as a result I was able to sell it at a much lower price than I bought.
Personally, I had my first negative experience with the Idex exchange, but not through the fault of the exchange, but because of my ignorance.
On the index there is a minimum amount for order execution, I did not have enough. I decided to buy a coin that was not liquid and as a result I was able to sell it at a much lower price than I bought.
I lost a small amount of coins on a local exchange that got hacked, but it was a insignificant amount. 
The lesson I learnt from that, was not to store coins on an exchange as if you want to use it as a wallet.
I also had my one account locked, because I changed my cellphone number linked to the "security" features on the site and they did not want me to replace the old number with the new number, until I could verify that I owned the previous number that was used for the site.
I accepted the strict security requirements, because I would want them to implement that, if someone wanted to hack my account.
The lesson I learnt from that, was not to store coins on an exchange as if you want to use it as a wallet. I also had my one account locked, because I changed my cellphone number linked to the "security" features on the site and they did not want me to replace the old number with the new number, until I could verify that I owned the previous number that was used for the site.
I accepted the strict security requirements, because I would want them to implement that, if someone wanted to hack my account.
You have to be careful with the newest exchanges. If you want to trade you can go with top exchanges. The next thing is don't use exchange for hodl your coins. Because the exchange wallets, private keys are won by the exchange. That means if someone hacks that exchange, your coins will be lost. You can buy a hardware wallet to store your coins. If you can't buy a hardware wallet, you can go with desktop wallets.
I'm wondering if you ever had a bad experience with crypto exchange, what was it and which exchange?
I am curious to know, why do you want to know about the bad experience with the crypto exchange? Why not good experience? Because if we know the good experience about the exchange, then you will get to know the good things about that exchange. You can make a list of Good exchanges and review about that. Later you can use those exchange as a trading option.
Please don't make a thread that will attract spammers.
You can find the answer to your question with Google. It's easy, and it will save some time for you.
You can find the answer to your question with Google. It's easy, and it will save some time for you.
Considering that almost every question can be answered with the help of Google, it turns out that almost 90% of open threads on this forum have no purpose other than to attract spammers. Everyone is completely free to ask what they want, and also everyone is completely free to use "Report to moderator" button or to just ignore the whole thread.
I am new and I saw few people commenting they had a bad experience with certain exchanges, wanted to hear if this happens regularly or just by chance.
Lol people complain regularly about exchanges, legit or not. Even the most reputable "too big to scam you" ones like Coinbase get reports of account closures and such, and what this should tell you is that you can't and shouldn't fully trust any of them. If you want to save yourself the headache of encountering problems yourself, all you have to do is avoid using them to store more money than you're willing to lose.
Hello
I'm wondering if you ever had a bad experience with crypto exchange, what was it and which exchange?
Feel free to share all kind of stories.
I'm wondering if you ever had a bad experience with crypto exchange, what was it and which exchange?
Feel free to share all kind of stories.
@SheriffEl I had bad experience with Cryptopia as it suddenly shut down, and I lost access to my coins worth $1500 back then and now their worth is only $31. Normally I have always advocated people to stay away from exchanges as they keep getting hacked, but it was my sheer bad luck that I forgot about my coins till it was too late. If you were looking to store your coin in exchanges, then I hope my post will help you understand why you should stay away from exchanges.
Details here: https://www.cryptopia.co.nz/
Sorry to hear that. If the exchange shuts down and you have coins on that particular exchange do you loose them or..?
Please don't make a thread that will attract spammers.
You can find the answer to your question with Google. It's easy, and it will save some time for you.
Where is the wrong part of asking from people's experience? I would say OP is still new on crypto, that's why he need to make sure he didn't fall or having bad experienced like other people had. This is also prevent more people registering or using scam exchange sites.You can find the answer to your question with Google. It's easy, and it will save some time for you.
Hello
I'm wondering if you ever had a bad experience with crypto exchange, what was it and which exchange?
Feel free to share all kind of stories.
I ever had bad experienced in many exchanges, some of them already closed. But the worst experience was I've registered on a site then several months later it closed (Liqui.io).I'm wondering if you ever had a bad experience with crypto exchange, what was it and which exchange?
Feel free to share all kind of stories.
I am new and I saw few people commenting they had a bad experience with certain exchanges, wanted to hear if this happens regularly or just by chance.
Hello
I'm wondering if you ever had a bad experience with crypto exchange, what was it and which exchange?
Feel free to share all kind of stories.
I'm wondering if you ever had a bad experience with crypto exchange, what was it and which exchange?
Feel free to share all kind of stories.
I've encounter a lot of problems with exchange and it's so many to list them up and I will just write here I think the one who give impact on my side and that is when my funds is been hostage on Hitbtc and it toke many almost months before they fix my issues, also with p2pb2b where my earned tokens has been stuck since there's no actual volume and they require me a KYC so that I can withdraw my coins and literally I hate KYC so I forgot my tokens there, and lastly on cryptopia where they got hack and lose some mney with that events.
Newbies should really be careful on exchanges since some of them are totally bullshit but there's one exchange who really empress me and I think they are legit since when they encounter a hacking issue on there site they manage to return the funds of there users and they also make sure that there site security will be tighten more to avoid future problems and that's the binance exchange.
Weirdly, knowing that a lot of people had some problems with certain exchanges, I never really had a bad experience. The probable reason why is that I really don't use those shadier exchanges, and while I pretty much only use the reputable exchanges, I almost never leave funds on exchanges for more than 24 hours. I pretty much execute the trades, and withdraw the funds almost immediately without wasting any time. That way, even if a reputable exchange gets hacked, I stay pretty much unaffected.
yes, I've had bad experience and I think many folks from bitcointalk suffered from closing of cryptopia exchange.
so for me it was not huge amount lost there, but my friend lost about 1.5 btc on cryptopia
and we have no idea if we ever could get it back.. other then that, usually all troubles with exchanges were covered by support.
so for me it was not huge amount lost there, but my friend lost about 1.5 btc on cryptopia
and we have no idea if we ever could get it back.. other then that, usually all troubles with exchanges were covered by support.
Hello
I'm wondering if you ever had a bad experience with crypto exchange, what was it and which exchange?
Feel free to share all kind of stories.
I'm wondering if you ever had a bad experience with crypto exchange, what was it and which exchange?
Feel free to share all kind of stories.
i had funds on bitfinex when they got hacked in 2016. my balance took a big haircut. i also lost a bunch of coins on btc-e in 2017 when the american government took them down.
fortunately, i've managed to avoid getting hassled over KYC or having my accounts hacked or closed, but i've certainly got some battle scars.
Mine was about their KYC, I don't remember the exchange anymore.
When I registered on their exchange, there was no KYC things about. But I think a month or weeks after they required all the users that want to withdraw the funds to undergo with KYC.
That's the time I pissed, especially their third party KYC is so strict, since my Bitcoin on their exchange, I have no choice. So I submitted some documents of mine. I even got some renewal of my document before because they don't accept anymore those expired documents. Really hassle.
When I registered on their exchange, there was no KYC things about. But I think a month or weeks after they required all the users that want to withdraw the funds to undergo with KYC.
That's the time I pissed, especially their third party KYC is so strict, since my Bitcoin on their exchange, I have no choice. So I submitted some documents of mine. I even got some renewal of my document before because they don't accept anymore those expired documents. Really hassle.
There are various of experiences that you can read on the Exchanges for a particular exchange that has an announcement thread there.
--> https://bitcointalk.org/index.php?board=223.0
--> https://bitcointalk.org/index.php?board=223.0
Hello
I'm wondering if you ever had a bad experience with crypto exchange, what was it and which exchange?
Feel free to share all kind of stories.
I'm wondering if you ever had a bad experience with crypto exchange, what was it and which exchange?
Feel free to share all kind of stories.
I see that all responses here are all about those exchanges who already turned into a scam and I don't think how knowing them will help you. Or if you really want to know about those exchanges, it's just one click away at your favorite and preferred search engine.
Why not just research or asked directly instead about some issues of currently active and operational exchanges today. In that way, it will help you to choose what's the best exchanges that might worth to put a risk so you will not end up on random exchanges.
Well I had a terrible experience with an Exchange called coinsmarket. Held a lot of BTC there at the time of bull run. Suddenly the whole site went into maintenance until next notice. The next notice came after 3 months when they said that they are deciding to wind up their operations and they will disburse all payments of the holders. Unfortunately that day never came. Infact after a couple of months the hosting and domain of the exchange was expired and I never saw that exchange live again. The total amount was around 1.3 BTC at the time of Bull run which was worth much more than what it is now.
Bitgrail. Luckily I didn't hold a lot of NANO then.
Lesson learned. I always transfer to my hardware wallet if coin is supported.
Lesson learned. I always transfer to my hardware wallet if coin is supported.
I'm wondering if you ever had a bad experience with crypto exchange, what was it and which exchange?
Mt Gox first, lucky there didn't lost anything. Many friends did tho, which was big hit to them.Then btc-e, lucky again, not keeping funds on exchanges is my decision tho.
Then couple more, all failed, all vanished due to technical issues or exit-scam (hack).
So overall... almost all exchanges i used not exist anymore, this is lesson to be learned here
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