The main problem you will face is deposit and withdrawal in higher value. Their support system will be very poor. Apart from this some exchanges even manipulate the price of some coins and when they do this they will put the wallet of that coin in maintenance.
the high costs that must be incurred are indeed a major problem, but on the other hand security features are things that must be considered, when we want to withdraw the funds we have from the site requires us to KYC and can be burdensome if indeed the money we will withdraw is very needed for urgent needs because the KYC process requires approval that cannot be done in a short time. 
Topic: exchange problems (Read 609 times)
Main problem for all exchanges is hacking. But hacking is not for exchanges only they can hack anything and anyone, you me him companies...... They have tools for it and for them its just moment. However they are other problem too with exchanges. Exchanges must be user friendly and with fast responses and good and communicative support. Without that they are doom and our crypto is finished. If they have technical problems they need to solved them ASAP if not many users will leave that exchange. Other problems dont want to mentioned think these are good for now.
Mostly all cryptocurrency exchanges are vulnerable to hacker attacks. And that problem takes place even at the present. No matter how much you trust your exchange, you should watch and take care of your assets.
The first comment was enough to say every problems through majority of these exchanges. It doesn't mean they have higher fees, you are safe, your money is safe and you can't experience inconvenience.
And out of the trust that we are putting to exchanges, one problem was made by us. What's that? because we fully trust it, we are ok letting our coins stay there and using them as a cold storage.
The main problem you will face is deposit and withdrawal in higher value. Their support system will be very poor. Apart from this some exchanges even manipulate the price of some coins and when they do this they will put the wallet of that coin in maintenance.
Actually, not every exchange charges high fees for deposits/withdrawals. For instance, cex takes only 3.5% for making a deposit by card, and no fees with bank transfers. And now they even provide benefits for that (https://blog.cex.io/news/wire-bonus-17716).
hi all,
i want to know the problems involve in most exchanges and how can we overcome such problems.
mostly some exchange withrawals fees are very high e.g IDEX exchange, wen trading now does it mean that it is safe and secured for trading?
please i need your idea or oppinion.
i want to know the problems involve in most exchanges and how can we overcome such problems.
mostly some exchange withrawals fees are very high e.g IDEX exchange, wen trading now does it mean that it is safe and secured for trading?
please i need your idea or oppinion.
No, higher withdrawal fees doesn't equate with better security features. On the contrary, exchanges having big fees usually doesn't have a good support as well. Of course hacking is the main problem and to overcome it, exchanges should always be on guard as to prevent those hackers. In your end, try to secured your account and don't put too much money on any exchanges, just enough for you to make trades and if you accumulated in the 5 digit range, much better to withdraw it in your wallet where you have full control. Another worst thing that can happen is exchanges freezing your account and money and requiring you KYC before you can get your funds out which requires months to process.
The main problem of exchangers is security itself, tendency of hacking can really be done if hackers wanted to and as a user this would really be an important factor to be consider when we choose up exchangers.
Mostly all cryptocurrency exchanges are vulnerable to hacker attacks. And that problem takes place even at the present. No matter how much you trust your exchange, you should watch and take care of your assets.
hi all,
i want to know the problems involve in most exchanges and how can we overcome such problems.
mostly some exchange withrawals fees are very high e.g IDEX exchange, wen trading now does it mean that it is safe and secured for trading?
please i need your idea or oppinion.
i want to know the problems involve in most exchanges and how can we overcome such problems.
mostly some exchange withrawals fees are very high e.g IDEX exchange, wen trading now does it mean that it is safe and secured for trading?
please i need your idea or oppinion.
No, higher withdrawal fees doesn't equate with better security features. On the contrary, exchanges having big fees usually doesn't have a good support as well. Of course hacking is the main problem and to overcome it, exchanges should always be on guard as to prevent those hackers. In your end, try to secured your account and don't put too much money on any exchanges, just enough for you to make trades and if you accumulated in the 5 digit range, much better to withdraw it in your wallet where you have full control. Another worst thing that can happen is exchanges freezing your account and money and requiring you KYC before you can get your funds out which requires months to process.
The main problem you will face is deposit and withdrawal in higher value. Their support system will be very poor. Apart from this some exchanges even manipulate the price of some coins and when they do this they will put the wallet of that coin in maintenance.
Me thw only problem for those exchanger especially hitbtc is the deposit. I've experience that when i seposite my token it didnt appear the full amount only the few. I report it to hitbtc but they didnt reply thats why i call hitbtc a scam exchanger. Other exchanger problem is the high withdrawal fee.
1. If you're going to deposit a big amounts, deposit them in small portions as exchanges have deposit (technical) issues so If for some reason the deposit didn't go through, you won't lose everything.
2. Always withdraw your funds as soon as you finish trading, exchanges can close your account and enforce KYC/AML verification without prior notice.
3. Always take a backup of your 2FA. An exchange may not be able to help you If you lose it.
And no, just because an exchange is charging higher fees, doesn't mean that It's more secure or safer.
2. Always withdraw your funds as soon as you finish trading, exchanges can close your account and enforce KYC/AML verification without prior notice.
3. Always take a backup of your 2FA. An exchange may not be able to help you If you lose it.
And no, just because an exchange is charging higher fees, doesn't mean that It's more secure or safer.
I think that you have listed everything, and I have nothing to add. It will be useful for the author to pay attention to your help
not all exchange has good security, even a good exchange can also be hacked by hackers, such as binance and MTGOx.
I think the main problem of any exchange is security, not a fee. so I think that we dare to use every exchange which has an expensive fee but give us very good security.
I think the main problem of any exchange is security, not a fee. so I think that we dare to use every exchange which has an expensive fee but give us very good security.
i use mostle kucoin exchange.. its really good to trade on kucoin.. secondly there are also some cool exchanges like binance, okex.. they are great..
Well most of the exchange site bill us very high fees and that is one of the area which the crypto world need more work in other to make the ecosystem more friendly for easy trading and exchanging for personal use, I have discovered that most of the exchange have fixed exchange fees weather for small or big transactions which is not suppose to be so we need more advancement in that area.
If for the exchange problem I think fee is indeed one of the most impactful with transaction that we will do. So if for other problems I think the duration of time long enough between one transaction with another transaction.
I think there is some problem in exchange for Bitcoin. Various exchanges are not good value, so those who work on Bitcoin have to be frustrated. Bitcoin will find out the best solutions from the point of exchange.
1. If you're going to deposit a big amounts, deposit them in small portions as exchanges have deposit (technical) issues so If for some reason the deposit didn't go through, you won't lose everything.
2. Always withdraw your funds as soon as you finish trading, exchanges can close your account and enforce KYC/AML verification without prior notice.
3. Always take a backup of your 2FA. An exchange may not be able to help you If you lose it.
And no, just because an exchange is charging higher fees, doesn't mean that It's more secure or safer.
Especially this. HitBTC charges astronomical amounts for deposits and withdrawals and while they are a decent exchange, they certainly aren't the best around. Compare that with the likes of Kucoin and Binance who had a 50k satoshi withdrawal fee, and you can clearly see that statement is nowhere close to being true.2. Always withdraw your funds as soon as you finish trading, exchanges can close your account and enforce KYC/AML verification without prior notice.
3. Always take a backup of your 2FA. An exchange may not be able to help you If you lose it.
And no, just because an exchange is charging higher fees, doesn't mean that It's more secure or safer.
Yeah, some of the fees you have to deal with on HitBTC are crazy. Also the gradient of denominations they let you make trades with is really high. Like 0.01 or even 0.001 BTC increments is wildly high. I don't know if they still have that but it's a lot.
hi all,
i want to know the problems involve in most exchanges and how can we overcome such problems.
mostly some exchange withrawals fees are very high e.g IDEX exchange, wen trading now does it mean that it is safe and secured for trading?
please i need your idea or oppinion.
IDEX doesn't have high fees. You can customize the gas price yourself before making any transaction. It is just like any Ethereum wallet. This is the beauty of the Decentralized exchanges, you can control your trades yourself and there is no risk of getting hacked or scammed. You will get the option to change the gas price under trasnfer option, there will be a sliding bar where you can choose the desired gas price and can make the tx. i want to know the problems involve in most exchanges and how can we overcome such problems.
mostly some exchange withrawals fees are very high e.g IDEX exchange, wen trading now does it mean that it is safe and secured for trading?
please i need your idea or oppinion.
hi all,
i want to know the problems involve in most exchanges and how can we overcome such problems.
mostly some exchange withrawals fees are very high e.g IDEX exchange, wen trading now does it mean that it is safe and secured for trading?
please i need your idea or oppinion.
actually there are circumstances that some tradings exchanges have higher fare rate while at the same time is not secure to make trading due to some factors of hacking just like happen in other trading exchange like binance,and etherdelta,thats was victim of hacking before,and this idex thats you said that when you making a transaction just asking your private key,and i'm thinking thats this not secure kind of transaction with a higher amount of processing fee.i want to know the problems involve in most exchanges and how can we overcome such problems.
mostly some exchange withrawals fees are very high e.g IDEX exchange, wen trading now does it mean that it is safe and secured for trading?
please i need your idea or oppinion.
I think a good exchange is an exchange that has been very long, big and always busy used by people, meaning that the exchange is already trustable by people. don't once you use a new exchange, because many scam new on exchanges.
the exchange problem is hacked by hackers, as above says. exchanges of Binance, Idex and Bithum can be hacked by hackers, but the exchange can replace the missing coins from their members.
so always be careful in choosing your coin exchange.
-on btc fee , yeah it high , but you can pass it with change your btc into another crypto like doge / xlm and the problem solved ( prefeer for micro transaction )
-hard to do kyc , like poloneix with webcam photo (till now i dont have verified poloneix account ,-,)
- high traffic , hard to load , like bittrex sometime
-high minimum deposit to trade , like bitfinex
-high minimum withdraw , ( for little trader is annyoing ) ,
-hard to do kyc , like poloneix with webcam photo (till now i dont have verified poloneix account ,-,)
- high traffic , hard to load , like bittrex sometime
-high minimum deposit to trade , like bitfinex
-high minimum withdraw , ( for little trader is annyoing ) ,
for us also the biggest and also reliable, for us you can trade in market .hitbtc, binance, poloniex and also in bittrex, for us also will easy to get profit, and also many new coins there.
poloniex is not a reliable exchange. I have long withdrawn my capital from there. You of course can get lucky and you will not experience problems but my rule to leave the exchange after the first signals that users periodically have problems. Now really a lot of exchanges but there is no one reliable and universal. It seems to me that this market is still open for honest business. Jump to: