Topic: Coinexchange.io is Closing Down. Official announcement. (Read 1108 times)

Lol where was this aanouncement??Where?? Only onl their website.What If i didnt visited their website for more then 1 month like example???They should send some kind of email warning that they will close own site.With this kind of way other people losted also own funds because of that.It is not okey to say you should check Twitter,Facebook site,webiste from that exchanger everyday so you could know if they will suddenly close own site,that is rude from them.They should contact every person on email so everybody could know that site will be closed.

That is exactly what I want to say and explain why they did not use the email to give all their users a warning of its impending closure then, that is another mistake they made.  We do not use twitter to sign up for their site, and not everyone is active or uses that social media.  I would also have been one of the ignorant until I heard about it because the news spread and then I just read it.  As I recall, I was able to sell the coins and pull them out before they closed.  Anything else to say here is nothing to do because it is done.

It's been a year since this exchange site closed, and what else do you expect here?  Gone!  Because it was clear from their announcement or notice then that they have a deadline set for you to get the coins that became dust before they finally closed.  Also, I have never heard of exchangers closing and reopening after it has been successfully operated today.  If there is, let me know.  You have been taught a lesson before so you must have learned. Do you think anyone will trust them?  I know that others also think that there was a strategy involved in their closure then, because they may have done that because they know many are not aware of the risk of storing assets in an exchnage sites.  So those who did not know when they closed then will be able to own what is left.

Yah, you're right on the Cryptopia thing, just the same way Novaexchange made an attempt to come back too. Well, I don't know how that move ended because I lost interest in the Novaexchange saga. It goes a long way to reinforce the axiom - Once bitten, twice shy. I do think that the entry of new exchanges like Binance in the crypto industry did give the old exchanges a severe run for their money and a lot of them couldn't cope with customers' demand for innovative trading. I remember how Poloniex and Bittrex used to dominate the industry pre-2017 but now virtually all new traders may not even have heard of them. Nothing lasts forever, really!

As you really shouldn't, I think many traders that has been in crypto more than 2 years know Cryptopia well and all the problems it had when it started from slow response time from their support staff or multiple hacking incidents that happened to them and many people lost their funds in their accounts there, I remember they closed down their exchange once because of all the problem and after a few months they reopened their exchange and started working again and as it is maybe hard to believe there were actually some people that trusted them again and another supposed hacking happened and again their users lost their funds.

Do not trust an exchange(or any thing for that matter) twice, if they let you down one time and even if whatever was the issue didn't lead you to lose any money it's better to not take the risk and move out your funds from there.

I can't really say for sure where I first read the closure notice from Coinexchange, either here or on Twitter. But I know there was a thread on that here. I also had an account with them, and I quickly did the needful. It's quite a while that happened and I am not sure if there is still a communication avenue left opened from the Coinexchange guys. Usually, there's a timeline to allow customers move out their funds and I believe once that elapsed, that's it. It will be hard now getting anyone (the company is already dissolved) to listen to you on this.


If they do, it won't be easy getting people back to trust them. I, for one, won't trust them. Except they come in the guise of another name I don't know.

I think coinexchange is good management team and owner very trusted with how much assets have his member, before the exchange close get announcement for every investor to withdraw their assets saving in coinexchange wallet and they not close market without give announcement to member, so have chance for many member become not scam in this exchange and all assets can withdraw to other wallet, most respect with this owner than cryptopia closed exchange without give chance for investor to withdraw their assets and now still have thousand people loss much money in cryptopia without have responsibility with member assets.

They couldn't meet up or what, or they have just hit a jackpot from a newbies who is coming into the system new,  I am a user of coinexchange.io and possibly have some funds I can't pull out there. Talkless of having the fee to pay, we wish them the best in there next coming if possibly they will.🚶🚶

Another exchange gone. This is really sad news because I am a user also of coinexchange.io before. I think the decision of the team is not that easy because leaving a business that gave you lots of profits before is hard to let go. The great competition and low number of market players (both buyers and sellers) made them hard to get income. I hope that they will soon return again. Anyway, let us all move on and turn our capital into other exchange. Is withdrawals are already working?

I almost forget if I recieve email from that exchange before they close, I only remember is they have an announcement in their exchange when they are planning to close and asked it users to widraw all available funds.
This is only warning i see before  and no email sended to users :


Source of images https://bitcointalksearch.org/topic/m.52615300.

I dont find any way to contact them if you found one then that's the only solution, then ask them about it.


BTW they are not active anymore here i don't even find their Ann.

You can't say like that about any shitcoin bro. These coins will get listed in a small exchange and pump like anything.
I too have used coinexchange for selling my bounty coins and bought better coins. Still it's sad to see an exchange closing down only because of the community.

If you bought shitcoin, I think it doesnt matter now, it doesnt have a value or potential at the first place so why bothering to look for that? And also its been months since coinexchange announces their closure. That exchange is good for me before, Ive sell a lot of my bounty tokens there , coinexchange is great but it is too bad they will close now.

Even if some people lost a lot of valuable coins, what can they do? Class action lawsuit? Against who? Site disappeared and I doubt the CEO name was public... else if somebody has a contact, please let us know, so we can sue...

I missed this announcement. 
I think I had bought some shitcoins last year and was there in the exchange account. I don't think it was any valuable so nevermind. Does anyone lost higher value of crypto here..?

Well, I didn't have much, but I had shitcoins I bought with "much" that in the meantime lost value and in the end I didn't lose much. Assuming that those shitcoins will never recover, then yes... I did a bad investment, but still I would have liked a second chance to transfer at least these shitcoins in my ETH wallet, just in case...

I checked my e-mail and I never received any e-mail informing that they were closing. Very convenient from them just to inform via twitter... from my point of view they exit scammed and stole my shitcoins.
It really sucks, I wish there could be still a possibility to get something back. But I guess life goes on. Shitty exchange, I hated it and used it only to trade one shitcoin I won't even mention here, the fact it closed like this just gave me a big lesson: don'0t keep coins on shitty exchanges.

Now the big question is, how do you know if an exchange is a shitty one, like coinexchange, or not? E.g kucoin, gateio?

Too bad for you bro, this announcement has been made some few weeks back and some people were able to remove their funds from that exchange, i think you are making your complain in the wrong forum, except their is an official thread of coinexchange in this forum run by the coinexchange officials, there is nothing anyone can do to help you here, another alternative is to contact the coinexchange officials if you can find their contact details if there is any hope left, but i doubt that,  you have to prepare to accept your loss.
don't put your funds in an exchange!!!

It's a lot of bad news that Coinexchange will shut down Generally the condition of these exchange markets cannot be sustained due to bad conditions. Again many times they are lost in the day-to-day, so they can't get up from the sidewalk With the new one and a half they could not survive the competition Many times the transaction cannot be sustained due to the high fees.

It's hopeless, man. Even you cried your heart out nothing will change.
I'm actually surprised that coinexchage.io had closed while like you I have some coins in there but fortunately I don't mind anymore since they're all shitcoin that came from 2017 airdrop. ( Just hoping it'd stay shit, lol )

I don't think so, we don't need a lot of exchange sites, we only need those that have good customer service, high liquidity and considerable fee and by far only few have these criteria.

More and more exchange gone down with difference reason, trading really hard these day and exchange keep closing. Crypto need more exchange now, an exchange with government approval would be the best for crypto to grow up.

You cant.

The withdrawal fund section already ended, their service already down you can't do anything with that. You fund already lose.

An email service always using the company domain, if you see a post something like this its absolute a scam.

I bet he will inform you like this "We need to make a confirmation, you need to send a fund to this specific address.", the withdrawal section already close you can't do anything.

I have a big request, I did not know that such a great site is closing and I did not check the email !! how do i recover money from this https://www.coinexchange.io/ Please help me!!!!!
Please help me!!!!!
Please help me!!!!!
Please help me!!!!!
Please help me!!!!!

i hope you don't have too much funds in this exchange? but let me also include that this is the reason why it is overly emphasize that people should not leave their funds in exchange because you never know when something unexpected will happen, and it also pays to keep track of investment by following the necessary news channels for updates, people should be mindful and watchful of their investment in other not to regret later.

Yes I think a market that has no innovation and development will close faster. The lack of users will greatly influence the trading volume in it and then will certainly be a major factor. I feel Coinexchange has more or less an interface like decentralized exchange like Forkdelta so that only a few traders want to use it which is usually only to sell worthless coins which usually worth <15 $

many exchanges are closing down crypto bridge also closed due to euro kyc ,we will see many other exchanges closing down too
many projects is on a pause due to this

Hi there,

I totally didn't follow the news about coinexchange and missed the chance to withdraw my funds before December. I found out only now that they closed.

I've seen in their last tweet https://twitter.com/coinexchange_io/status/1178990663410442240 many replies from a dubious tweet account https://twitter.com/Askcolnexchange/with_replies about contacting a yahoo email address in order to get some help...

See: https://imgur.com/a/R1R04JZ

Hello user
Please message our Technical Team on ([email protected]) to help you out!
Thanks!!

Do you think this yahoo email is legit or they are trying to scam desperate users trying to get their funds after the deadline? I've already seen scammers doing this kind of stuff, they usually ask the vitcim's private key or to deposit some funds first as "proof" or stuff like that (only a fool would fall but they try).

I tried to sign up at coinexchange official support at https://coinexchangeio.freshdesk.com/support/signup but I didn't receive any welcome e-mail, when I clicked forgot password I got this error message "You are not authorised to access this portal. Kindly contact your helpdesk administrator." so probably they also terminated their freshdesk account or so (not sure).

I'm stupid, I should have followed the news more often, but I wonder if there is still hope, an official way to get my funds or they are simply gone...

I mean I'm sure many people missed the news and are in the same situation... what should we do?

Thanks for constructive help, I'm sure many of you will laugh at me, I can live with that and also living with the fact I lost my funds, but before moving on I'd like to know if it's still possible to do something...
Cheers

We will never know all the circumstances that lead to to closure of this exchange, they claim they are closing their doors because of the market conditions that are not as favourable as before, however there are many more reasons why they could do this, exchanges are under great pressure by governments to comply with their regulations and that costs a lot of money and this could have made them unprofitable, while it does not seem like they have been hacked that is also a reason for exchanges to close their doors, and finally you ask why they did not sold the exchange? I suppose they tried but there were no buyers.

It's a pity that had to happen. Before the official winding up it was really evident to curious close watching eyes that all wasn't right with Coinexchange if anyone actually took time to study the trading volume there. Well, it's all good that the exchange acted honourably by winding down rather than play out a "hack" and causing traders to lose their funds. I have carefully withdrawn my coins and transferred to other exchanges. I will surely miss this exchange because the security feature is top notch.

The last time I used Coinexchange.io is by trading MB8Coin (which I sold it fast instead of holding it until the price got pumped 6 times from its low value). It’s just sad that they’re gonna close it, but they’re gonna do that gracefully. They have their own reasons why they wanna close, and allows traders to withdraw their amounts that are stored in their exchange.

I wish them all the best in their future endeavors. At least they’re honest to all of us when we received their official newsletter. I honestly think that we do not need additional exchanges anymore, as these new exchanges keep emerging and may not going to last long either. 

I'm glad they have set up a long period for traders to withdraw their funds, they want to close in good faith after Cryptopia this is the second popular exchange that will close shop, I used trade there 2 years ago but since the coming of Binance and Kucoin and other localized exchanges they cannot keep up anymore, so it's better for them to close and look for a more profitable business.

For those altcoins that are impacted by this closure, we invite you to consider to list your altcoins at our exchange: ShorelineCrypto at below 0.005 BTC listing fees.

Our exchange has been in operation for more than one year. We are a New England based business and we have been conscious on lowering our operating cost so that we only offer doge pair trading. If your coin is clone of Bitcoin/litecoin/dogecoin/dash, yes we can list your coin in a week at extremely low fee.
https://ShorelineCrypto.com/

At least they did business honestly. The volume of which they had was all original at coinmarketcap top list. Did not use any fake bots. Nowadays many exchanges everyday  comes on the coinmarketcap top list, that exchange I have never heard the name before! They Generate fake volumes using bots to gain new users. 90% of these exchange volumes are fake.  

Well, Competition in the exchange market is fierce today, and we are witnessing Chinese exchanges with huge amounts of capital occupying this market. There is very little chance for small exchanges like coinexchange.

This is a pity for all investors who have participated in this exchange in the past because until now they are still reputable and allow all investors to withdraw money at this exchange without having to worry too much. I greatly appreciate this exchange and closed coinexchange is something no one wishes in this market. In addition to Coinexchange, you can join other exchanges like Latoken or P2P because these are two exchanges that have a lot of shitcoin if you are risk lover.

Bad news for the crypto space,  coinexchange was one of the first exchange I used when I was introduced to crypto,  sad to see them shutting down, the competition in the market is getting more stronger,  exchanges with low trading volume are feeling the heat

Exchanges are launching almost every week, I will watch and see what will become of them in the next 2-3 years if they will be able to sustain the tempo. This will not be the last as many more will still fold up most especially new one without a convincing user base

A lot of exchanges are having problems with trading volume and this is probably the main reason for Coinexchange to close. I participated in this exchange last year and it is really difficult to trade because the coins at this exchange are not liquid well. As soon as I learned that the exchange was closed, I was quite sad because this was an exchange that helped me earn good money and they were always honest with all investors.

Now it's best to quickly withdraw money from this exchange and look for a better exchange in the future. The best advice would be to choose Bitmax because this is exchange that has been gaining a lot of interest recently.

 unbelievable. coinexchange has accompanied me for many years and now it has gone bankrupt. This is really sad because competition between exchanges is so fierce. Exchanges that do not have large capital will often be buried and go bankrupt when bear market comes.

Means that Coinexchange is not able to compete with emerging exchanges. Maybe the reason for the closure of Coinexchange is because it is lacking or the volume is a little so it decided to close, but I am proud because I was once part of Coinexchange trading.

They will shut down on oct 15, right? So trade your tokens before that and move on. Coinexchange was filled with shit coins anyway.

Kinda sad to see them go, they weren't one of the scummy exchanges when it came to user funds or KYC, but they did have some problems, I guess?

What are the market issues about though? Is it because not enough users were trading on their accounts, or they had really bad spreads and were not able to profit enough off them to pay for server hosting, security and other fees, I was under the impression they were pretty well-liked and made more than enough to justify staying open.

Anyway, another one bites the dust.

Was this event an indication that crpyptocurrency enthusiasm is getting lower? If that so, would it be a danger if other cryptocurrency exchange did the same thing as coinexchange does?

I have a few analyzation about it:
1st If other big exchange will shut down, people or traders will transfer to big exchanges and will have huge volume accumulation of their coins.
2nd Whenever in case others shuts down, traders might lose their enthusiasm as well, and might result to them not investing in crypto as well.

Now where must I trade my tokens? The only other place that trades them is novaexchange and they cant KYC no matter how much you trade. Coinexchange was one of my favourite exchanges.



Surely they were still making money even so? There must be some other reason for this.

This is the proof that only exchanges that have potential are can survive in the market. There are now a lot of exchanges that are been closed down because they cannot survive in the market challenges. The competition is also the reason why they announce that they will close.

I have the feeling that someone will takeover their exchange business and will be handled by a new management. They have built an exchange platform already that is difficult to abandon. Their system is already in place so it would not be too hard for a new management to rebrand. I salute the ce team for not vanishing into thin air though.

The competition is really high in the market to sustain for a longer period of time and with regulations being implemented and the grey area of things will force people to avoid all these hurdles and come back later and i fully understand why some exchanges are taking a drastic step. I traded in the exchange when the alt coin boom was at its prime and sold all my coins and never visited the site after that, many have the same experience and it is not that easy if  the alt coin market is suffering for a long time and the volumes will be low to make a substantial profit.

Of course, they have thought about it many times before making the decision to quit crypto. But I think they will just reinvent themselves. I mean its hard to let go of this business. Maybe they will just rebrand themselves and then look for more investors to help them established their name in this industry.

They should if they don't want cops will chase them, not unless they come up with an idea just like Quadriga lmao


That's the only thing you can do for now, not unless that exchange the only one supports that altcoin which can't happen while if it's a token then there's a chance lol.

aside from shit coins they have long list of pump n dump coins so later on they accumulated a crap of worthless coins. but tbh, i commend the CE management for informing their clients beforehand and not disappear without any notification whatsoever. i still have few coins sitting on that exchange but what can i do? no buy order even at 1 sat. i guess ill just transfer it to my wallet for additional clutter in my computer....lol

Whatever the coins they were listing they still can't afford to continue their service this could be a lesson for the upcoming exchange why they should not list too many shit coins in their exchanges.

Am I the only one have feeling this thread should be moved to service discussion?

At least they still protect users when fully informed and give users a long enough time to withdraw money from the exchange. And so far, coinexchange has not encountered any security issues. They've got a good reputation and I think users will support it if they come back.
The number of 28 BTC is probably the real number, because they do not use bots to fake the volume.

The exchange lists mostly shitcoin with very low transaction volumes, which I think is the reason for their closure. Unexpectedly, in September they listed dozens of new coins.

It is not as simple as that, once an exchange gets to the top they will get most of the customers, this in return generates more volume and liquidity and this attract even more people to use their service as no one wants to trade in an exchange without liquidity, so small exchanges do not have lots of alternatives, even if their service is as good they will not get the same amount of clients and their profits will be limited and eventually it will be impossible to sustain such a complex operation.

It is actually a bit funny to see how this thread existing next to the other one, where people discussing 'too many exchanges' problem.
Speaking on the topic - it's sad, but not surprising.

It is not good for me because I trade here and 1st december, 2019 closing the exchange. This is a good exchange for me. If in future, the exchange comes again with new and better features, then I shall be more happy. So be careful about medium type of exchange and good luck to coinexchang.io.

I think they thought carefully before making this decision. The crypto market is no longer the same, and I think it will never be the same as before. Exchanges such as coinexchange will gradually be eliminated, replaced by legit exchanges with quality projects. That is the law of the market.

I cant say that competition isnt a factor why these exchangers close its doors.Due to number of exchangers on the current market as of today and no business will risk out
or continually to operate if they do know that they are losing money of such act.

Competition is always been part of the reason because if it werent out of competition then they would have sufficient users on the platform that would give out profits on their side and able to maintain or sustain to operate for more longer.

This should how services do treat up their users in the end of times.All should be announced and give the proper time to withdraw and give back all of users funds which is the right thing to be done.

So "another one bites the dust".

Haven't used this trading platform so I can't really say any comment's how good or bad this exchanges is. The good thing though is that they quickly inform their customers that they are officially shutting down and give time for them to withdraw their money.

I don't think it's about competition though, the only reason is that we are in the bear market so obviously no money is coming in or at least the funds is not enough to sustain their exchanges, so to cut their losses it seems that this is the logical thing to do.

But then again, we have hundreds of exchanges out there that are willing to take the spot so most likely we won't feel the gap here, just saying.

It is hard to see if they will be back once the crypto market back to normal. But it could be possible if they are ready to compete with the other exchanges. The traders will have to withdraw their balances in that exchange to another exchange. And yes, that will need time-consuming to send into another wallet. But at least, coinexchanges give announce to their members so their members can withdraw their balance before the website stop operate. Maybe when they back to the business, they will get better than before so they can give what they can to their members.

Coinexchange has been here in crypto space for a years, and now this is what happened due to the situation was very competitive and lot of competitors that arise also in this industry, all I can say is this is one of the fair exchange platform I saw here. At least this platform had became honest and transparent unlike other exchange suddenly gone were you cannot open it anymore.

This exchange is really fair for all investors and many people are willing to not withdraw money to support this exchange. I have been trading at this exchange many times in the past and it is truly an experience that any investor feels like. Now we will have to say goodbye to this exchange one last time and hope that the Coinexchange development team can look for a new business plan in the future.

This is exchange that a lot of investors joined in the past few years and I'm also very sad when this news comes out because this exchange has so many special memories with me. If you have been to this exchange in 2017, your profits will be huge as many projects earn double profits in just a few hours and that makes this exchange very famous among that time .

Now we will not see this exchange any more and I am very sorry for the shitcoin holding investors as this is probably the last exchange they can enter for trading. Hopefully they can complete the withdrawal and look for a better exchange.

At least they gave notice. Thats very noble of them.

There are some exchangers out there that won't even give notice and just suddenly close down with no chance of letting people withdraw their money. It's easy for some exchangers to just say they got "hacked" and "we will be investigating." *AHEM* *CRYPTOPIA* *u lying cheats* *cough cough*

May be could as they are stated that they will turn back when the market is good but the question is when? Though the decision is coming from the board,I don't know if they were still working on this and to get prepared for the upcoming possible bull run. May traders trust will lift their trust for sure if they will be just ON and OFF. Their market competencies are not strong enough and must have to focus on it and so things may improve.

Newly created exchange should really be reading this one.
Hello there ICO exchange projects please do think twice and also with investors.

It will be a long shot to defeat the new monsters when it vomes to exchange.
I bet they wont have any profits because of lack of traders in their midst.
That is where they will get their funds to pay for everything and also those who will pay for listing.

They have given time until 1st of December 2019 to withdraw funds. I agree with you that it is best to withdraw the funds as soon as possible. Because, at any time, they can change their decision. Who knows?

Yes, they are making things that would make their exchange ahead on the competition and i cant really deny on what they had already been done.
When they are facing up some issues then they do make a way or solution right away which it do completely stop the possibilities for it to be an outdated one or
be reached up by other exchangers in rankings and as said they do know on how to play the game.

My bad, didnt notice that thing. lol

The small ones maybe but big exchanges which has most of the market share in terms of people trading with it daily I don't expect them to go down that easily since they are already earning revenue consistently. Coinexchange.io even if I'm somehow familiar with their name is not considered to be a big exchange and I don't think their daily trading volume is even comparable to the big ones. I expect if the big ones even struggle a bit due to the price drop we are experiencing I can only see them downsizing by laying off some of their employees again.

OMG, I am seriously shocked at this, as this is one of the great exchange that we have, and I wish there is something I could do to salvage this, but rather than closing down completely, they would have actually looked for some sort of partnership with some other exchanges that have low volume.

When I tell people that the exchange market is too saturated for the level we are now, they think that I don’t know what I am saying, the reason why this exchange is not making it again is probably because they are getting very low volume, and what could be making this exchange get a low volume is probably because people that are meant to patronize them are being introduced to other new exchanges and thereby limiting their user base.

Sad news, had some great action there, but as others have already said: there's a huge oversupply of smaller exchanges currently so this isn't so surprising.

It's sad and also painful to watch as I was their frequent users in 2017, because I've been trading a lot of alts on their exchange and I haven't found any deposit and withdrawal problems. But they close their business in a very professional manner,  Kudos to the  management and give their clients time to withdraw their funds.

back in the early days of Bitcoin, a site like this would have been globally popular. However, there is already so much competition in the space. Sad that you had to close down.

I heard that news from my friend, I don't know what to say, but I am happy to say that I don't have any coins in that exchange, so I think I will skip the news. I think people who have many coins in that exchange must withdraw it into another wallet so they can save their coin and sell it in the other exchanges. Yes, that is sad to hear that news, but that is what happens in the market. We need to stay calm to withdraw the coin, so we don't make any mistakes later.

Yes, in current market condition, they also need a strong backup by many Venture capitals and institutional investors, to maintain operation and spend money to attract new users. The quality of the project is also one of the factors affecting the exchanges. If they have good volume and reputation, the quality projects will choose them and spent a lot of money for listing fee. That why the time for shitcoins and exchanges that listing them is over.

This is horrible news. That is like the best exchange to pick up some of the cheaper coins for staking on BTCPop. I've used them 100's of times and never had any issues with them. I'm very glad they're giving everyone a chance to withdraw everything and I wish them success in all of their future endeavors. There's not much left in my account on there except for a few Doge. I'll let them have it when they shut down for being legit the whole time. It sucks it didn't work out for them.

I've also used coinexchange many times and had no problems with them. I have used coinexchange last time 28th September , never thought that this would be my last login. Feeling sad they are leaving the market this way, they are having trouble keeping up with not enough volume.
It is also good to see that they giving chance to everyone withdraw their funds without any kind of drama.  

Yes i expect more exange will be closing since there are too many of them right now in the market. And bad situation now for crypto market that will be the reason why there are too many of them will forcely close. Users of coinexchange is still lucky they can widraw funds they have in that exchange unlike what happen in cryptopia .

This is what really hurts on a industry that is dependent on the prices we are having in the market. A lot of companies have downsized already since the 18 months bear market we have but this might be the worst thing to happen which is shutting down their own operations. With us being in a bear market it not only affects the prices but also affects the trading volume happening in that exchange, without people trading in their platform they won't earn anything from them. I just hope no big name exchange will follow as it will even be a more bad news for us especially their clients.

If you've read the context on who I was replying to, we were talking about traders, not hodlers. Though I personally don't store funds on exchanges, but if you're a trader, I'm pretty sure you can't spot trade on exchanges when your funds are on a non-custodial wallet.

Competitions over those new exchange are getting tougher from time to time. This business requires participants and traders to execute trades if there's only limited numbers of volume and few traders to work with exchange will suffer. But that's how  the business works. The management might realize that there's no reason to stay and they freely give the opportunities to those new exchange who are willing to take the challenge.

My thread has been opened before. You can verify by time.



It is not safe to hold funds on any exchange. Anytime, anything can happen. The safest one is to keep the funds in the wallet and keep the private key in a safe place. The binance itself has also been hacked, they have overcome it. There is no guaranty that they can overcome it every time.

No alibis no nothing sort of a bankrupt declaration. So at least they just decide to close and registered users know unlike the cryptopia who somehow made a buzz and then room for speculations were they got millions for the security breach. Allowed users to still trade and then announce a new management will take over but suddenly close without notice

Maybe the reason is luck of users or exchange volume if the exchange never earn any more this is the last option they can do. Not only affected by market but the long time bear market is really hurting them. Other exxhabge also invest in crypto this might be also experience lost from bear market thats why they decided to close it.

That is the development of this market. The market is getting more competitive, so exchanges with low volumes and too many shitcoins like coinexchange will not survive.
A bit sad because this is the first exchange I registered when I entered the crypto world.

Well competitive in developing exchanges is indeed quite difficult, especially exchanges now have increasingly innovative features. The right solution in competing is to always look for ideas that are innovative and needed by many people but are mutually beneficial and Binance has done it.

What is done by binance in defeating previous competitors should be a correction for new exchanges in the future to compete. See, Binance has had various innovations in recent years that have made its reputation even more popular.

I did not know that coinexchange will be shut down until I read this. I have many trading experience on this exchange before and I had no problem with their services. Sad to know they will be closing down this time. Some exchange already closing affected by market condition anyway thanks for this information.

Seen similar thread about this Coinexchange closure https://bitcointalksearch.org/topic/m.52615300

Yeah, remembering how Bittrex,Poloniex and Bitfinex is still flying with colors and Binance was just starting up.I didnt even expect that they would able to get or place themselves on the top.This proves out that anything can really be replaced in a matter of time but for Binance? They do know on how to handle the game.

Another exchange closed its doors and this is the reality of a very tough competition on exchange platform field.

I salute the directors of Coinexchange for informing a closure before they totally shutdown on their website. Good to see this kind of moves here in crypto world not just like of others that disappears with unknown reason. I tried to log in just now to see the confirmation by myself. But why I didn't receive any announcement via email?

Leaving trading funds on one single exchange should be, as long as you know how to secure your exchange account, and that you know that you're using a reputable and competitive exchange(e.g. Binance).

Anyway, exchanges will come and go, as with any other ultra competitive niche business out there. If some of you think that the current big exchanges are unbeatable, well, remember that Binance pretty much dumpstered Bittrex in just a few years.

In my opinion, the exchange was not bad. Once I exchanged various altcoins there. First of all, I liked the fact that some individual coins were traded only there. It is a pity that good exchanges can not stay afloat. I think that the matter is in the usual competition and other giants got more traffic.

It's been a long time since I last traded on this exchange maybe two years, they cannot keep up with the competition and they just saying that market condition is the reason, they don't have promotion or marketing, new exchanges coming in are eating them and they cannot keep up
this is not going to be the last exchange that will close shop many more are expected, I'm glad that they did an announcement.

Just another exchange closing down, nothing new here as every year we have 2-4 exchanges that are closing down, doing scams or simply disappear. This is another reason why I won't even trust any of the exchanges especially those who are asking for KYC ( besides my local exchange from my country ) as I had KYC on cryptopia and they're gone with my data and with another hundreds of them.

If the statement is for real, I wonder how did the full bear market didin't not kill them (3k$ bitcoin ) but now they don't have anymore funds to spend on security ? Seems shady in my opinion so I will watch closely what will happen in the next days.

Please remember that all the exchanges who got hacked or got security breaches they all announced that everything is fine, is just a board decision that won't affect anyone so I will not be surprised that in the next days no one would withdraw anymore so better hurry up and empty your wallets from the exchange and stop trading coins that are not in top exchanges.

Bad news for me, Coinexchange is my favorite because no KYC. Even they have high fees for all transactions but mine always finish on time. My shit coin already sell in coinexchange and I don't need high quantity because market already exist, specially prospectors ( PGL ) that already migrate into EOS platform. Now I must find the replacement because my shit coin contain my 40% fund still stuck.

It's been long visiting the exchange. Anyhow thanks for the information. I've got little funds equivalent to 0.01 btc in coinexchange. It was ethos and what I have in the exchange was once worth 2 Bitcoin when it touched its peak price of more than $9. Now it was less than $0.06, with hope keeping hold of it. Now it's time to move to some other exchange or another wallet as coinexchange service is ending soon.

And we still have exchange related project coming up, if exiting ones are folding up because they can no longer sustain the exchange economically, what will happen to new ones about to lunch in the market, how will they survive the competition?

And for exchange like binance who have manage to stay at the top of the game, what are they doing to keep people engage in trading with them? I think exchanges that are not doing well financially should learn from the top exchanges  how they are able to maintain their exchange and grow as well.

This is bad news. we know that many exchanges do not survive because of the severity of competition. besides that many new exchanges and increasingly add to the challenges.
This news is also a warning for traders not to save all assets in one exchange.

another exchange gone. This is the result of having too many exchanges now appearing but the competitiveness is very low as they do not have much money as well as experience to make famous.
Coinexchange has been around for a long time, but they have not had any programs to highlight their exchange in recent years. This is also the experience for those who are looking to open an exchange.

The Coinexchange.io is about to close. According to their last announcement, trading and deposits will be closed from 15th of October 2019. They have shown the cause of the market situation.
Those who have funds in the Coinexchange.io can withdraw until 1st of December 2019.

Announcement :-  https://www.coinexchange.io/news/post/85/