Topic: I stop using some exchanges (Read 1589 times)
In the bear market stage, the price of some altcoins will become lower and lower. In order to recover losses, transactions must be conducted in a timely manner. Therefore, long-term transactions cannot affect most altcoins.
i have so considered some exchanges most special to me in terms of transactions. I am so used to carrying out soem transactions in certain exchanges because of their interface and how properly it is coordinated, in terms of trading structure and its user interface
Recently,several new exchange sites have been created
and most of them are not legit
You don't have to try all sites exchange
Sometimes see comments on twitter page of site or visit their telegram , give you reputation on the site
and most of them are not legit
You don't have to try all sites exchange
Sometimes see comments on twitter page of site or visit their telegram , give you reputation on the site
Im never good at trading ,always lose money but how about those who lose money due to exchange been hacked? Well thanks to new exchanges that only support p2p ,no profiles ,no emails ,no passwords, they are the safest out there ,this is why I'm so hooked with changelly since 2016 ,so use this kind of exchanges and you are safe from hacks and phishing who is with me? Other exchanges that are like changelly are ethershift and tokenmom ,there might be others too
why not try our Exchange which is growing at a faster pace with more than 100 coins listed and with 2500 around members having features of Trollbox tipping & Market Reactions ... most importantly accepting customers worldwide without any KYC requirement !! Join now https://www.unnamed.exchange/MarketInfo
Same here, I stopped quite a few and stick only to 1 or 2. Red flags are poorly designed sites, missing pages, misspelling and no reply from Support Dept.
Decentralized exchange is such a system that you can operate independently without the need to send an email, and KYC only needs your password or private key in the safe and you must know no one else. Except for a DEX that regulates you to import your private key and your eth address that is Etheredelta or Forkdelta for me once you use this platform it is very dangerous because they hold access to your private key, eh In other cases there are other dex you can do that you do not need to exchange your private key in platform.
This is why I like decentralized exchanges most and only high reputation centralized exchange. Because users feel safe there. I have no problem with KYC documents for high ranking exchanges like Binance, Bittrexx, Coinbase. These exchanges are very safe, especially Bittrex and Coinbase. I have stopped using yobit, coinbene, Gateio, Coinexchange, and many others! I am not saying they are bad, I just stopped trading there.
If you continue losing in trade, then you may avoid trading in this bear market and I respect your decision to stop using many exchanges. and I suggest you buy some good coins and hodl them until the market pumps well or do bounty campaigns. Good Luck.
If you continue losing in trade, then you may avoid trading in this bear market and I respect your decision to stop using many exchanges. and I suggest you buy some good coins and hodl them until the market pumps well or do bounty campaigns. Good Luck.
Just trade tokens or altcoins to well known exchanges such as binance,kucoin, bittrex and livecoin ,these are the exchanges were i trade some of my tokens
Binance was hacked. Kucoin was accused recently of heavy wash trading. Bittrex also people lost a lot because of flash crashes at some point.
Mt Gox was a former well known exchange. So was Quadriga, so was Yobit so was many many names.
Point is, as long as you trust an exchange, you will get screwed. Just a matter of when.
So without believing the exchange how can we trade on the exchanges, of course, we are seeing the breaches but only exchanges that have been given a refund to their investors that is Binance exchange. The above-mentioned exchanges like Kucoin, Bittrex, Yobit till now has not given any refunds to their customers.
That refund was already part of their system, they have a SAFU funds so when there's a hack they can refund easily to the exchanges users who are effected. I don't know the process but it's likely just a crediting or balance for accounts that was affected, in short, just an internal transactions.
There is no perfect exchange, there are times that exchange screwed up that's why we should not only trust one exchange, when it comes to exchanges we also need to learn how to diversify our funds so we will not be fully affected when there's a hack.
We should always diversify our fund to our own wallets because there is no guarantee in this world. An exchange which has the ability even though they lost some money due to hack, the exchange should keep some fund aside in order to protect their investors. Without investors, exchanges cannot survive long.
Just trade tokens or altcoins to well known exchanges such as binance,kucoin, bittrex and livecoin ,these are the exchanges were i trade some of my tokens
Binance was hacked. Kucoin was accused recently of heavy wash trading. Bittrex also people lost a lot because of flash crashes at some point.
Mt Gox was a former well known exchange. So was Quadriga, so was Yobit so was many many names.
Point is, as long as you trust an exchange, you will get screwed. Just a matter of when.
So without believing the exchange how can we trade on the exchanges, of course, we are seeing the breaches but only exchanges that have been given a refund to their investors that is Binance exchange. The above-mentioned exchanges like Kucoin, Bittrex, Yobit till now has not given any refunds to their customers.
That refund was already part of their system, they have a SAFU funds so when there's a hack they can refund easily to the exchanges users who are effected. I don't know the process but it's likely just a crediting or balance for accounts that was affected, in short, just an internal transactions.
There is no perfect exchange, there are times that exchange screwed up that's why we should not only trust one exchange, when it comes to exchanges we also need to learn how to diversify our funds so we will not be fully affected when there's a hack.
Just trade tokens or altcoins to well known exchanges such as binance,kucoin, bittrex and livecoin ,these are the exchanges were i trade some of my tokens
Binance was hacked. Kucoin was accused recently of heavy wash trading. Bittrex also people lost a lot because of flash crashes at some point.
Mt Gox was a former well known exchange. So was Quadriga, so was Yobit so was many many names.
Point is, as long as you trust an exchange, you will get screwed. Just a matter of when.
Yes, now every exchange is asking for KYC procedure and we need to activate all sorts of security procedure to be in safe hands. Previously we don't need all these KYC procedures while using the centralised exchanges we should activate all the security measure in order safe.
Not every exchange ask you to complete the KYC before you can make a withdrawal from their site. As example, binance, you still can withdraw to max 2 btc on daily without any KYC, that's already quite a big amount for most of people.Agree, my intention is in the future, every exchange will surely ask for the KYC producer because the rules will be changed year after year. Now, Binance giving 2BTC withdrawal without any KYC but these things will change once the value of Bitcoin increases.
im already convinced when you say that " rules changed year after year " but when you say that " exchange will require a kyc just because btc value increase " i guess im not going to agree with that . btc value dont have any connection with the changing rules or on the implementation of a kyc . and you forget that we still have a decentralized exchanges , even the day that all cex exchange will require a kyc we can still trade freely/anonymously on dex exchange sites .
Just trade tokens or altcoins to well known exchanges such as binance,kucoin, bittrex and livecoin ,these are the exchanges were i trade some of my tokens
Im never good at trading ,always lose money but how about those who lose money due to exchange been hacked? Well thanks to new exchanges that only support p2p ,no profiles ,no emails ,no passwords, they are the safest out there ,this is why I'm so hooked with changelly since 2016 ,so use this kind of exchanges and you are safe from hacks and phishing who is with me? Other exchanges that are like changelly are ethershift and tokenmom ,there might be others too
If you just mean to exchange a currency to other or just buy with or sell for fiat, than you don't need the currently popular centralized exchanges or even the decentralized ones. They are mostly for active traders who earns by the fluctuation of price. For a general holder and occasional traders, it's better to put your coin on your own wallet and trade p2p when needed to.
An alternative to Chagelly could be shapeshift and fixedfloat.
Im never good at trading ,always lose money but how about those who lose money due to exchange been hacked? Well thanks to new exchanges that only support p2p ,no profiles ,no emails ,no passwords, they are the safest out there ,this is why I'm so hooked with changelly since 2016 ,so use this kind of exchanges and you are safe from hacks and phishing who is with me? Other exchanges that are like changelly are ethershift and tokenmom ,there might be others too
Honestly, for what is good to dex compared to centralized exchange platform they're not asking their client users to submit any KYC, but they're are some DEX even though no kyc but they are asking you to import your Private and ethereum wallet address before proceeding the actual trade to their platform, in which I think is not safe and risky and that DEX was Etherdelta, Fordelta and tokenmom, and more.
DEX exchanges are preferable by so many people, because you don't have to reveal your identity for them (sending documents, completing KYC..) and also their fees are usually lower than centralized exchanges. But unfortunately, you can't exchange every coin or token in DEX, and the number of good centralized exchanges is limited.
Not really,,, if DEX is preferable by many then we would see more DEXs being popular and have much more volume than CEX. Compare Binance alone to all the DEXs and I bet you,,, there are still many more users and much higher volumes on Binance. It is a sad case but until DEX can also improve their speed and ease of use, this is going to be the case for many more years.
Yes, now every exchange is asking for KYC procedure and we need to activate all sorts of security procedure to be in safe hands. Previously we don't need all these KYC procedures while using the centralised exchanges we should activate all the security measure in order safe.
Not every exchange ask you to complete the KYC before you can make a withdrawal from their site. As example, binance, you still can withdraw to max 2 btc on daily without any KYC, that's already quite a big amount for most of people.Yes, you are right, there are very few exchanges asking for KYC, even though if they don't ask KYC, we need to secure our account by activating all of them. Some potential is giving higher withdrawals and they don't need to submit their details.
There's no instance for me as to I've lost my coins due to hack of an exchange. Even if some of them, I was using were reportedly hacked, they had no effect on my balances.
Though I have lost some coins here and some there due to closure of trading of a specific coin or of whole exchanges and the amount was too low to trade or withdraw.
Had some withdrawal issues with some exchanges which were solved by support tickets.
Though I have lost some coins here and some there due to closure of trading of a specific coin or of whole exchanges and the amount was too low to trade or withdraw.
Had some withdrawal issues with some exchanges which were solved by support tickets.
DEX exchanges are preferable by so many people, because you don't have to reveal your identity for them (sending documents, completing KYC..) and also their fees are usually lower than centralized exchanges. But unfortunately, you can't exchange every coin or token in DEX, and the number of good centralized exchanges is limited.
Yes, now every exchange is asking for KYC procedure and we need to activate all sorts of security procedure to be in safe hands. Previously we don't need all these KYC procedures while using the centralised exchanges we should activate all the security measure in order safe.
Not every exchange ask you to complete the KYC before you can make a withdrawal from their site. As example, binance, you still can withdraw to max 2 btc on daily without any KYC, that's already quite a big amount for most of people. it depends on you to maintain the security of the account that you have,
All you do is register for security using 2FA with your cellphone, Google Authenticator or confirm every time you start accessing the exchange you entered
All you do is register for security using 2FA with your cellphone, Google Authenticator or confirm every time you start accessing the exchange you entered
Yes, but it is not a good idea to register in all the exchange due to because of some security restrains. Only concentrate on one exchange in which potential coins are listed because registering on multiple exchange will leads us to confuse more about the coins.
I get used to use some exchange to arbitration strategy when the bull run come because it is an easy way to gain profit instead to gain profit through trading.
The exchange on crypto market is always have different volume/price each other, you can your coin to gain profit such as coin A at binance exchange only have price $1 but at bittrex exchange the coin A has $1,5 then you can send them into bittrex exchange and you will get profit from it.
That is the function you have several exchange on crypto market, because to gain profit is not only thru on trading only instead you have more interest as a trader only.
Jump to: