Topic: Rate the Exchange based on your Experience (Read 261 times)

As part of testing their exchange, you will really end up in a situation where you have lots of questions and concerns. If you really want to test the site and use them for the long term, as you also already comply with KYC there, I suggest giving them at least a month or more for you to see other reviews and feedback as well to other users.

Haven't heard that exchange and it's the first time in my dictionary. Hope there's no shilling here.

Whitelisted addresses for withdrawals and maybe deposits is one feature that exchanges uses to add an extra layer of security to users when it comes to withdrawals but since it's not entirely foolproof, I won't bet 100% on it but it's still good to have that extra security just in case. I don't know about you but patronizing smaller exchanges aren't my thing since they tend to have much smaller liquidity and that's something I like to have around whenever I'm trading.

Just got to use a new exchange which I got to know about through twitter,and they go by the name of FINXFLO... check them out here---> trade.finxflo.com/trade . Well my first time impression wasn't a rosely one because I had found them during their maintenance works which made the process lengthy  but I found several things different about them, KYC was super fast but what caught my eye was the need to whitelist crypto addresses for both deposits and Withdraws which is a process that takes time (3-5 days) could be shorter. Maybe after this is done process of withdraws and deposits is much faster but initial process is a pain and I thought could this be what will be happening with other exchanges to avoid any hacked or stolen funds from being transferred through exchanges??

Apart from decentralized exchanges of which btw I advise Bisq, I only use 3 exchanges nowadays. Kraken, Binance and Poloniex. The one I guess outperforms the others is actually Kraken. Kraken has a good support. Fast answers to questions and problems get solved. With Binance, luckily I have never had to request support whereas, for Poloniex, I have reached out to support a couple of times and let's just say the experience was not what I was expecting. All in All, my vouch goes to Kraken as I have been using it for a few years now and always had timely support.

I would like to talk about hotbit.io. I feel like they are abusing the withdrawal fees imposed to users. You can deposite values from 0.0001 btc on, but to cashout you have to pay an absurd fee of 0.001 btc and they say it's due to network costs. That is actually a lie, because I've just paid 15 cents or so in withdrawal fees at Coinbase against 44 dollars of Hotbit.io. If you are a small, medium trader or use hotbit.io to receive coins not supported in another exchanges, you will have a hard time making enough profit/income until you are able to cashout something from this exchange. In fact it's a total waste of money.

I suggest everyone to avoid this exchange and always check what the withdrawals costs are before depositing money in any exchanges.

Bittrex has a fast duration of the KYC process because I did that a long time ago and the KYC process finished in less than 2 days. But I do not know about their KYC services or support system right now as I do not have a problem. That was the same as Binance because I was already doing KYC with Binance, Bittrex, and Poloniex from a long time ago before those markets became bigger. I do not know about KuCoin because I am still at the basic members and need to upgrade to increase the withdrawal limits, which I do not need right now. I also have a HitBTC account, but I do not verify myself because I do not trade too often.

Binance will be my first choice. It has the best support system. Also if you want to do KYC at Binance exchange, It will take only 5 minutes.
Kucoin live chat support system is also very fast. A few days ago I tried to talk with support and my experience was very smooth. Kucoin is one of my favorite exchanges at all.

I am also using Bithumb, The live chat system is fine. They are very active. Not yet did KYC at Bithumb, So I have no idea how long it takes to complete KYC. But my experience with Bithumb is good.

Nothing beats Binance and Kucoin, they only list coins with good potential in the market, the support is great, Binance has everything you are looking for an exchange, these two deserve to be the leaders in the exchange industry, I have no problem trading on Kucoin, since trading there three years ago until, I can rate these two exchange with 5 star ratng and no one will and can argue.

i have little experience with Binance and they support system is very smart and cool, including Bithumb is another good exchange to with fast support

Im using Poloniex for a long time already and problems with it.
Also Kraken nice for me.
I' using HitBTC - i like everything here, except fees. Also no issues now or in past.

yes, im also Binance customer, but no trust to it from my side. Its like a bomb with timer, but you have no idea when it will ring the bell.

I have used binance, huobi global, bittrex and all of them are good exchanges. I have not experienced any issues with deposit and withdrawal yet.
Their liquidity is also good and most buy and sell orders get completed within seconds.
Decentralized exchanges are obviously better but the problem is most of them are not compatible with multchains.
Also their fee is high because they don't deduct from tokens.

I've used many exchanges.

- I used yobit (bad support and it was not easy to do trade)

- I used poloniex, it was very easy to make a trade, but when I contacted the support they took time to solve my problem

- I used bittrex, it was easy to use to trade, his support took time to respond and then they started to freeze people's accounts for being from restricted countries and I gave up using bittrex

- I used binance, and it is easy to use, but I must say that the last time I contacted them they took some time to solve my problem. but i like binance and so i still use binance

- use exchanges like: bilaxy.com; bitmart; crex24; digifinex; gate.io and hotbit.io

I don't have much complain and need to talk to support most of the time since most of the transactions that I did with different exchanges were satisfying to me. Well, I guess just like the rest, it's about Binance but talking about the platform itself.

We're all sharing the same thought of how good they are. Maybe some others have complains how slow and delay the process in some cases due to the number of customers that are being served but to me, never experienced anything bad.

1. Binance will be at number one based on liquidity and improved interface, I still have an old account on Binance and they haven't really asked me for any KYC so far. But yes for new users they are asking for KYC. They have really evolved their platform very nicely because I remember at once their platform was quite glitchy and used to stuck in times of great volatility. Only good thing is very good liquidity therefore almost zero slippage.

2. Kucoin: if you looking for a No KYC wallet then it's really the best in the market. If you are shifting from Binance you might not see a lot of changes, especially if you use their mobile app and desktop advanced version. Their app, however, is slightly glitchy and futures trading on the platform is still not that great and not that liquid too but as an exchange overall, they are exceptional. They have all good coins and but not a lot of them have good liquidity. Moreover, if you have a larger capital you can easily spot some bots tickling around some low-volume coins. Not sure if they are by Kucoin or some user bots. Even the trading bot feature that they offer is pretty good. Got a good profit from it once but cannot rate its consistency as I have traded only in bots once. For low capital which means less than 5-10k$ it's a good choice.

Relying on the experiences of others alone will lead to a lot of wrong analyzes if we take a lot of things into account, and these things will only happen by asking specific questions and waiting for specific answers.
All I can say is that Kucoin tries to imitate Binance in everything, from UI to everything, the only difference is the trading volume.

i have a bad experience with Kucoin but that doesnt make them bad.

I used Bitfinex 3-4 years ago when I highly actively was involved with crypto transfers. They did not have the $10k worth crypto deposit requirement in order to able to deposit/withdraw fiat at that time. Their live chat support worked extremely well. Trading volume was as high as binance and also kraken if I'm not mistaken has a similar trading volume. I remember people selling/buying Bitfinex accounts that were created before the 10k deposit requirement announcement. Bitfinex is still a solid exchange and I never heard or experienced anything negative about them.

And RightBTC. I did use it in 2017 due to a coin I had was tradable only there. My account is still active but I receive notifications that somehow someone gets access to it and changes my password. I restore my pass and this happens after 6-7 months again. Their security sucks.

Personal experiences in centralized exchange.

In terms of support, of course we have experienced it where the problem occurs in the exchanges that we use in trading, even I almost use the exchange to trade on something different but this is also with a good rating that I have experienced so far.

In contacting support I think the best thing is there is a livechat where we can interact there and can find trouble spots that can be resolved that is much better than having to send a support email.

I have experienced this there contacting support from Kucoin he replied 4 days later then his reply was very long and for me bad.

But the fastest KYC process is on Binance instantly.

Yes as most people here say binance is great but I have some good experience with Huobi too so far. They have quick deposit and withdrawal and high liquidity too.
I have not got any issue that needs me to contact their support so I have no experience with their customer support service.

I have installed Binance App on my smartphone and i dont experience any problems that you had mentioned.The thing i do like is on the notifications in regards with prices and those current updates
which is i do much prefer on reading up.For futures, then i dont really touch up this area ever no matter what platform is offering it.

When it comes to quick response then you are right that verifying KYC documents is just a breeze compared to other platforms which do really takes a while.

For responsiveness then Kucoin is on next on this one based on experience.For support then i dont really find to be that fast but not really a serious issue to me.

I want to talk about Binance
I highly doubt that KYC is what you are looking for but can say that Binance almost instantly verifies your KYC documents.
Never ever leave your funds without stop loss on Binance Futures Trading because sometimes their platform has some problems and you are unable to trade!
Always check fees and analyze the risks before becoming a liquidity provider.
BUSD doesn't offer you any advantage over USDT (at the moment at least).
Keeping of BNB offers you stacking, low trading fees and other benefits.
Binance sometimes has "network errors" when you use their application on your smartphone.