Topic: exchange problems - page 4. (Read 602 times)
A lot of problems that are encountering from exchange and one of the most problem that I don't want to encounter was that some of the exchange cannot really be trusted, wherein you cannot entrust your money in them.
To overcome the exchange problems you have to maintain some rules and regulations. First of all, as soon as finishing your trading you should withdraw your funds, and always take a backup plan for risky exchanges.
The most common problems you may face is security issues. Recently we have seen that two exchanges has been hacked within a short span of time. So, I think this is a major issue to look on.
Can I ask, do they return money if their exchange was hacked and it wasn't in any way your fault? I never had issues with loosing coins on exchanges at all, but just to be sure?
My advice is create a backup for your transactions so that in future you can handle your problems easily.
Centralized exchanges fees are higher than decentralized exchanges like IDEX,Etherdelta and others because the former patch much for Staff handling your orders than Dex that has less staff at work
The most common problem to all exchange is security and liable to hacking which leads to loss of heavy funds. This is why it's advisable to store your coins in the original wallet and not exchanges because they can be hacked anytime e.g is the Bithumb and coinrail exchange hackings. So its advisable to just trade on exchanges and store in private personal wallets.
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.
The problems are very common in our feels we cannot handle estimates this exchanges sometimes it will be the best for us sometime it will be but we cannot make a decision before being nothing but choosing the right extended is always very important right websites for your investment this is my little opinion for all the investors.
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.
The most common problems you may face is security issues. Recently we have seen that two exchanges has been hacked within a short span of time. So, I think this is a major issue to look on.
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.
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.
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