Hopefully when Koinyx exchange comes out it will be able to handle these types of situations without the 2-3 hour delays that are imposed to limit actual benefit to customers instead of the exchange operators. I love the idea of arbitrage, but good luck when sending coins takes 10x longer than it should because of shady exchanges.
I can't guarantee downtime, but I can guarantee that we are not going to willy nilly delays (especially at critical times). Koinyx isn't going to be in the business of going all out and maximizing profits at the detriment of customers or crypto's as a whole. As a matter of fact, beyond the exchange we have plans to do much more that will greatly benefit cryptos (in the future of course)!
Hopefully when Koinyx exchange comes out it will be able to handle these types of situations without the 2-3 hour delays that are imposed to limit actual benefit to customers instead of the exchange operators. I love the idea of arbitrage, but good luck when sending coins takes 10x longer than it should because of shady exchanges.
does your bank not do the same thing.
therefore i agree, shady practices everywhere but if you want to invest that is what you have to use
as you said until something better comes along
for me in the case of fiat versus bitcoin i will take the bitcoin exchanges over the banks
I have lost almost $1500 to a shady exchange but have made 3 times my initial investment on others, like to see a bank do that with reduced fess and transaction times sending money around the world.
i lost over 20% of one of my transactions using a wire transfer which was way more on a percentage basis to my loss on a shady exchange
Koinyx will not be engaging in shady practices, at all.
With all of that said, I STRONGLY suggest, even as a future exchange owner, do not keep your coin on an exchange unless you are using them to trade.
. We are also not going to accept bribes in order to list coins. We also are not going to engage in fractional reserve in any way shape or form. We do have future plans (way down the road) for other products that are not only going to be very synergistic to Koinyx, but will also help both the community and spread adoption of crypto currencies!
