Topic: So many new cryptocurrency exchange now, Are they safe to trade? (Read 929 times)
No. No (centralized) exchange is safe. They can be hacked, they can do an exit scam, anyone from the staff can sell data like personal data from KYC and so on. Even etherdelta wasn't immune against a hack. The best thing is to leave your coins as short as possible on the exchange.
Been on crypto for 4 years and I know how risky to trade unknown or new trading exchange, A lot of trading exchange was suddenly closed and some got hack by anonymous hacker. I like to hear everyones thoughts about this.
Thank you
don't judge it too bad bro, if you want to trade safely and comfortably choose an exchange that is considered top-top or that is widely known in addition to safe as far as I know it usually has good security, I usually pass through exchanges on forkdelta and until now I thankful for not having met such a thing.Thank you
Absolutely no argument there. We have seen how badly shills get hired to promote sites and it makes the marketing unhealthy but it works in pulling in a lot of new traffic and noobs to the site. It is good for the exchange but can possibly be bad for the trader. Instead using the exchange and checking whether you can trust them yourself is the better way to go. One might find an exchange very useful which another person might not be happy with.
Again the risk of scam exchanges is there but they quickly get called out and are forced to shut down, but some people get scammed.
Again the risk of scam exchanges is there but they quickly get called out and are forced to shut down, but some people get scammed.
Traffic that will give absolutely zero value to the site. In the end, it is wasted effort and wasted resources. But projects cannot be patient and cannot see the long term view so we end up where we always are,,, Short cuts and dead ends.
Stick to the reputable exchanges. The few savings and benefits from new exchanges are not worth it!
But don't look for the reviews on some random websites, go to public forum and read the reviews from previous users because many websites give positive reviews for money and people also offering services to for positive reviews for good chunk of money.
Absolutely no argument there. We have seen how badly shills get hired to promote sites and it makes the marketing unhealthy but it works in pulling in a lot of new traffic and noobs to the site. It is good for the exchange but can possibly be bad for the trader. Instead using the exchange and checking whether you can trust them yourself is the better way to go. One might find an exchange very useful which another person might not be happy with.Again the risk of scam exchanges is there but they quickly get called out and are forced to shut down, but some people get scammed.
It is somehow true when they say none of the exchange is safe. There are lots of things that can happen when you trade your coins not necessarily that the exchange will shut down all of a sudden with your coins on their wallets. Some were hacked like Gox.
No, no new crypto exchange is safe now, it's an advise to stick to old exchange like Bittrex, Kucoin, Okex, Hitbtc and many more old exchanges.
Many new exchanges nowadays are full of scammers, exercising low and unexecution of trade orders. Exchanges like exmarkets, p2pb2b, and numerous new exchanges, they have nothing to offer to users persuading users to sign up for bonus that can be withdrawn. New exchanges aren't best now.
Many new exchanges nowadays are full of scammers, exercising low and unexecution of trade orders. Exchanges like exmarkets, p2pb2b, and numerous new exchanges, they have nothing to offer to users persuading users to sign up for bonus that can be withdrawn. New exchanges aren't best now.
Even that old ones can one day snap and take all your coins with them. One exchange that I still used today despite the accusations is yobit and its still not mandatory to send my documents to them. Its still good to use.
Community reviews are always important which we choose trading because we can't simply send our money to new exchanges which they launched recently. It is always good to trade in old exchange which they are actively sending withdrawals on time without any problems. Review very important when choosing an exchange for trading.
But don't look for the reviews on some random websites, go to public forum and read the reviews from previous users because many websites give positive reviews for money and people also offering services to for positive reviews for good chunk of money.
No, no new crypto exchange is safe now, it's an advise to stick to old exchange like Bittrex, Kucoin, Okex, Hitbtc and many more old exchanges.
Many new exchanges nowadays are full of scammers, exercising low and unexecution of trade orders. Exchanges like exmarkets, p2pb2b, and numerous new exchanges, they have nothing to offer to users persuading users to sign up for bonus that can be withdrawn. New exchanges aren't best now.
Many new exchanges nowadays are full of scammers, exercising low and unexecution of trade orders. Exchanges like exmarkets, p2pb2b, and numerous new exchanges, they have nothing to offer to users persuading users to sign up for bonus that can be withdrawn. New exchanges aren't best now.
Been on crypto for 4 years and I know how risky to trade unknown or new trading exchange, A lot of trading exchange was suddenly closed and some got hack by anonymous hacker. I like to hear everyones thoughts about this.
Thank you
Thank you
So you know that it is risky to trade on the unknown or new trading exchanges. I think we don't have to try the new exchanges if we are not sure how good their security to protect their members, and it is better to stay at the exchanges that we already used to trade. But that is not guaranteed because we already knew that the old exchange, which has good security, could also get hacked. After all, the hacker will try to find the bugs on every exchange. That will make the exchange need to stay alert from the hacker. Protecting the account will not just the exchange jobs, but we also need to secure our account, so we can prevent the hacker from penetrating our account.
Been on crypto for 4 years and I know how risky to trade unknown or new trading exchange, A lot of trading exchange was suddenly closed and some got hack by anonymous hacker. I like to hear everyones thoughts about this.
Thank you
That is why I am reluctant to exchange to a new exchange other than in some of the top exchanges, because besides needing information I also need to research first so that nothing unexpected happens later, so even though there is a new exchange that appears and the fee is cheap, I still use the exchange that I trust until now because I can already ensure its own security.Thank you
It's important to do your deeper research before using any exchange both new and old exchange needs to be assess
as there's always possibilities that you may encounter problems.
Traders who do their homework always have smoother transactions, they enjoy the trade without worrying of anything
in order to enjoy things like that, best to work with your knowledge
in terms of knowing every information about the exchange that you are planning to use.
Keep in mind that research gives you proper understanding, you'll be able to pick the right place for your investment
without any hesitations to deal with the exchange.
because of this I wrestle at home to find out what is the best to transact because before the thing that is not wanted to happen I already got the basic information so no need to worry about fraud even if it's just basic but it's also important for me,
it's really better to think of an earlier plan for better results.
and it is true that reliable research is also very much needed for future investment without the need to think about the exchange.
That is why I am reluctant to exchange to a new exchange other than in some of the top exchanges, because besides needing information I also need to research first so that nothing unexpected happens later, so even though there is a new exchange that appears and the fee is cheap, I still use the exchange that I trust until now because I can already ensure its own security.
Security is a very serious matter to be taken under careful consideration. I understand why you're hesitant to try out new exchanges. I do too. There's an old saying that the devil you know is better than the angel you don't know. Existing exchanges might have their flaws but they've proved themselves at least. For instance, Binance has one of the best security as an exchange but they were hacked at some point (although funds were safu) In my opinion, Its better to stick with exchanges who have been around for years that go after new, shiny exchanges.
That is why I am reluctant to exchange to a new exchange other than in some of the top exchanges, because besides needing information I also need to research first so that nothing unexpected happens later, so even though there is a new exchange that appears and the fee is cheap, I still use the exchange that I trust until now because I can already ensure its own security.
Security is a very serious matter to be taken under careful consideration. I understand why you're hesitant to try out new exchanges. I do too. There's an old saying that the devil you know is better than the angel you don't know. Existing exchanges might have their flaws but they've proved themselves at least. For instance, Binance has one of the best security as an exchange but they were hacked at some point (although funds were safu) In my opinion, Its better to stick with exchanges who have been around for years that go after new, shiny exchanges.
Been on crypto for 4 years and I know how risky to trade unknown or new trading exchange, A lot of trading exchange was suddenly closed and some got hack by anonymous hacker. I like to hear everyones thoughts about this.
Thank you
That is why I am reluctant to exchange to a new exchange other than in some of the top exchanges, because besides needing information I also need to research first so that nothing unexpected happens later, so even though there is a new exchange that appears and the fee is cheap, I still use the exchange that I trust until now because I can already ensure its own security.Thank you
It's important to do your deeper research before using any exchange both new and old exchange needs to be assess
as there's always possibilities that you may encounter problems.
Traders who do their homework always have smoother transactions, they enjoy the trade without worrying of anything
in order to enjoy things like that, best to work with your knowledge
in terms of knowing every information about the exchange that you are planning to use.
Keep in mind that research gives you proper understanding, you'll be able to pick the right place for your investment
without any hesitations to deal with the exchange.
Been on crypto for 4 years and I know how risky to trade unknown or new trading exchange, A lot of trading exchange was suddenly closed and some got hack by anonymous hacker. I like to hear everyones thoughts about this.
Thank you
That is why I am reluctant to exchange to a new exchange other than in some of the top exchanges, because besides needing information I also need to research first so that nothing unexpected happens later, so even though there is a new exchange that appears and the fee is cheap, I still use the exchange that I trust until now because I can already ensure its own security. Thank you
It is a really important matter for traders. There are also many new cryptocurrency exchanges, But all of them are not safe for trade.
Often it is not a need that makes the person join and use an exchange. It is compulsion because they own a shitcoin that didnt get listed on a older well known exchange and got listed somewhere less known who again want new users to sign up and thus a low listing fee. That is a a part of the deal that the project owners often do to make sure they can list the coin at the earliest.The bounty hunters are also taking the risk of using these exchanges and they are being forced to use them in a sense. But it all comes back down to hunting for the worthless coins. If they stop doing that, this useless trail of frustration will stop.
If there were no supporters then these things will eventually die and there wont really be new exchanges that do pops out.I agree to the point that people wont
really have any other choice but to deal with newly launched exchanges or not popular because they have coins that need to sell off- no matter what its reputation
as long they can able to sell then that what matter most.
None of the exchanges are safe.
None.
It doesn't matter if it is new or old. All of them are unsafe. Even binance leaked people's KYC documents before. There isn't a safe exchange. It is just waiting its turn to get hacked. If you don't want to be the sucker, don't keep your coins on exchanges.
None.
It doesn't matter if it is new or old. All of them are unsafe. Even binance leaked people's KYC documents before. There isn't a safe exchange. It is just waiting its turn to get hacked. If you don't want to be the sucker, don't keep your coins on exchanges.
Really, maybe I don't really understand if it's like you said because I'm still new, but if this is really happening from now on maybe I will follow the advice you gave but if I put it in my wallet whether it's the same or not, and if you may ask where you keep your coins maybe I will also use the same wallet as you so I can feel calm.
It is a really important matter for traders. There are also many new cryptocurrency exchanges, But all of them are not safe for trade.
Often it is not a need that makes the person join and use an exchange. It is compulsion because they own a shitcoin that didnt get listed on a older well known exchange and got listed somewhere less known who again want new users to sign up and thus a low listing fee. That is a a part of the deal that the project owners often do to make sure they can list the coin at the earliest.The bounty hunters are also taking the risk of using these exchanges and they are being forced to use them in a sense. But it all comes back down to hunting for the worthless coins. If they stop doing that, this useless trail of frustration will stop.
Even if a new exchange got good reviews you shouldn't have to trust them for huge amount, why you want to run off with a new one when there are lot of exchanges have millions in trading volume. but none of the exchange is safe to hold your coins for too long.
I don't use new exchange, old exchanges with higher reputation is recommended, right now Binance is still a major cryptocurrency exchange to its legal and safety it is the most reliable exchange. There are some good exchanges that are available but you must be careful before choosing.you can really spot out an exchange which is poorly made or just simply copied other exchange templates or design but most of the time, if you are just that wise then better not to bother yourself
and always stick out on which one is the current top rank in exchanges and make use of it.
This is always been the case but doesnt mean that all new exchangers are on the same bracket because there are really legit ones but doesnt really get that much attention or support due to very high competition in exchange market but those are still capable on giving out the same service.This is why there are people who do really try out to these new platforms but talking on the obvious side then
you can really spot out an exchange which is poorly made or just simply copied other exchange templates or design but most of the time, if you are just that wise then better not to bother yourself
and always stick out on which one is the current top rank in exchanges and make use of it.
everyone has to start from zero, even Binance was new when it was launched and it it literally new compared to other old reputed exchange bust still why it got the top place among preferred option, just because they never tried to make profits initially they wanted to build their brand and make more people to use their service so any new exchange with good intention will not be hide anything if they do then people will skip them. you can really spot out an exchange which is poorly made or just simply copied other exchange templates or design but most of the time, if you are just that wise then better not to bother yourself
and always stick out on which one is the current top rank in exchanges and make use of it.
Even if a new exchange got good reviews you shouldn't have to trust them for huge amount, why you want to run off with a new one when there are lot of exchanges have millions in trading volume. but none of the exchange is safe to hold your coins for too long.
I don't use new exchange, old exchanges with higher reputation is recommended, right now Binance is still a major cryptocurrency exchange to its legal and safety it is the most reliable exchange. There are some good exchanges that are available but you must be careful before choosing.you can really spot out an exchange which is poorly made or just simply copied other exchange templates or design but most of the time, if you are just that wise then better not to bother yourself
and always stick out on which one is the current top rank in exchanges and make use of it.
Even if a new exchange got good reviews you shouldn't have to trust them for huge amount, why you want to run off with a new one when there are lot of exchanges have millions in trading volume. but none of the exchange is safe to hold your coins for too long.
I don't use new exchange, old exchanges with higher reputation is recommended, right now Binance is still a major cryptocurrency exchange to its legal and safety it is the most reliable exchange. There are some good exchanges that are available but you must be careful before choosing.
It is a really important matter for traders. There are also many new cryptocurrency exchanges, But all of them are not safe for trade. Before depositing your asset and take a trade, You must be aware of the exchanger's security system, liquidity, customer service system, and the availability of assets withdraw. No exchanger is totally secure but some exchanger has a strong security system and they take responsibility for the loss of hacked. Some exchanges have poor customer service and no matter how hard you try, you will not get any solution from them. Some exchangers ’trade fee is much higher and Some exchangers charge a large withdrawal fee when withdrawing assets. There are also some scam exchanges. So traders should select exchanges by observing these things well. There are also some exchanges that are safe for trade.
Even if a new exchange got good reviews you shouldn't have to trust them for huge amount, why you want to run off with a new one when there are lot of exchanges have millions in trading volume. but none of the exchange is safe to hold your coins for too long.
I don't use new exchange, old exchanges with higher reputation is recommended, right now Binance is still a major cryptocurrency exchange to its legal and safety it is the most reliable exchange. There are some good exchanges that are available but you must be careful before choosing.
Even if a new exchange got good reviews you shouldn't have to trust them for huge amount, why you want to run off with a new one when there are lot of exchanges have millions in trading volume. but none of the exchange is safe to hold your coins for too long.
I don't use new exchange, old exchanges with higher reputation is recommended, right now Binance is still a major cryptocurrency exchange to its legal and safety it is the most reliable exchange. There are some good exchanges that are available but you must be careful before choosing. in my experience, in trading, I always go for the exchange that has a good review and I would ask the crypto community (or traders)what is their experience in this exchange before I use the exchange, Always secure your self when it comes to money do your own investigation before using an exchange
Exactly, It's better and safe to use popular exchange like binance not like other new exchanges that had fake volume. But be aware that even top exchange is vulnerable to hackers. Think wisely before leaving your coins on exchanges you can lost you money instantly. 
I do not believe in investing in new coins, I think you should not also invest in coins which are newly added to some top exchanges like binance as they are more prone to the first dump before to go up. I have posted here some top coins which I believe are good to invest with good ROI [To check ROI of coin please visit coinmarketcap]
Top crypto pairs in which you should invest? https://bitcointalksearch.org/topic/top-crypto-pairs-in-which-you-should-invest-5221979
As one of the recognized bounty managers back in the past then i do heavily agree into your input which is actually true and would really be a suggested thing to be done.ICO days are far gone and most project are becoming more shit as years passed.It would really be more worth to consider those coins into your list but if people are still keen on throwing up money into those options you mentioned then they can simply stick out on established Top crypto pairs in which you should invest? https://bitcointalksearch.org/topic/top-crypto-pairs-in-which-you-should-invest-5221979
or top ranking ones.
Back on topic in talks of exchanges then always stick out into the best or popular ones.Nothing is safe towards hacking but at least we do know that those who are on top position do have that tight security.
They wont last long and able to reach that point if they arent that capable of.
I do not believe in investing in new coins, I think you should not also invest in coins which are newly added to some top exchanges like binance as they are more prone to the first dump before to go up. I have posted here some top coins which I believe are good to invest with good ROI [To check ROI of coin please visit coinmarketcap]
Top crypto pairs in which you should invest? https://bitcointalksearch.org/topic/top-crypto-pairs-in-which-you-should-invest-5221979
Top crypto pairs in which you should invest? https://bitcointalksearch.org/topic/top-crypto-pairs-in-which-you-should-invest-5221979
None exchanger is 100% secured. Top rated exchanges have been hacked at various times such as Coinrell hacked and never returned. In the past, many traders lost their funds. That's why you have to calculate how much funds can be kept in the exchanger.
Of course one can rely on coinmarketcap.com's top exchangers because many people are using them.
Of course one can rely on coinmarketcap.com's top exchangers because many people are using them.
in my experience, in trading, I always go for the exchange that has a good review and I would ask the crypto community (or traders)what is their experience in this exchange before I use the exchange
Best way to evaluate them is through using it by a testing account.Reviews are often one sided because every project employs some shills to promote them mindlessly and some are doing it so conspicuously that it becomes evident to the seasoned trader but not for the newbies. Asking the community is a good thing but again you will get biased opinions about exchanges and not what is suitable for you, or the number of times the top exchanges get told will be much bigger than what you need.
So use the exchange and test it and see it is good for you.
That's the risk all have the risk of trading in real life such as trading in traditional markets or modern markets can face experiencing bad things such as loss by theft of losses from other things. New exchanges usually provide lots of bonuses to attract people into it to make the exchange grow and be able to compete with old exchanges
Been on crypto for 4 years and I know how risky to trade unknown or new trading exchange, A lot of trading exchange was suddenly closed and some got hack by anonymous hacker. I like to hear everyones thoughts about this.
Thank you
You already know the risk that you will be faced when you trade and use and exchange. Spend a little money in it and don't store your money in the long term. I spent arround 30% in my capital to trade and the rest I choose cold wallet to store some coins for long term investment. Thank you
For the exchange that I choose and only use binance exchange so far. At least this exchange has shown up when the security system successfully was hacked they tried to change the fund from some user. This is why I'm still using this exchange although the security is depend us as well.
Dont be fooled by exchanges with fake volumes.otherwise you will regret trading on that exchange. If you wat to trade on secure exchange go to exchanges like binance and bitrex.
Even if a new exchange got good reviews you shouldn't have to trust them for huge amount, why you want to run off with a new one when there are lot of exchanges have millions in trading volume. but none of the exchange is safe to hold your coins for too long.
I think why to not be safe? If they are not safe they will not be able to work and make profit in long-term!
Crypto-market is growing, and why to not have so many new exchanges, all of them are competing for more
users, and if they are not reliable they will not have users!
If you doubt in exchange don't trade there, don't register there. Find good exchange with good user reviews
and try it with some money, you will check by yourself how safe they are!
Crypto-market is growing, and why to not have so many new exchanges, all of them are competing for more
users, and if they are not reliable they will not have users!
If you doubt in exchange don't trade there, don't register there. Find good exchange with good user reviews
and try it with some money, you will check by yourself how safe they are!
None of the exchanges are safe.
None.
It doesn't matter if it is new or old. All of them are unsafe. Even binance leaked people's KYC documents before. There isn't a safe exchange. It is just waiting its turn to get hacked. If you don't want to be the sucker, don't keep your coins on exchanges.
Agree, The wisely done to do is when your done on trading is withdraw your coin, even there are good reputation about the exchange , we wouldn't predict what would happen. As you would know there are still some complaint on trader on using popular exchanges. None.
It doesn't matter if it is new or old. All of them are unsafe. Even binance leaked people's KYC documents before. There isn't a safe exchange. It is just waiting its turn to get hacked. If you don't want to be the sucker, don't keep your coins on exchanges.
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Been on crypto for 4 years and I know how risky to trade unknown or new trading exchange, A lot of trading exchange was suddenly closed and some got hack by anonymous hacker. I like to hear everyones thoughts about this.
Thank you
Thank you
That is what happens with the exchanges. We don't know how long the exchange can give the service to us, and we don't know how good their security to protect our account from the hackers. We need to safe our coins at another wallet. Don't send all of the amounts on those exchanges. No exchanges would be 100% safe from the hackers or trouble because that will depend on how the exchange can manage their website, and they can reduce the number of the attack from the hacker.
in my experience, in trading, I always go for the exchange that has a good review and I would ask the crypto community (or traders)what is their experience in this exchange before I use the exchange, Always secure your self when it comes to money do your own investigation before using an exchange
it's a way to find out whether an exchange is good or not, but I suggest using a trusted exchange rather than using a new exchange that is not sure that the exchange is good to use, you can use binance exchanges because there are large and trusted volumes of them there many more features they offer in the market
in my experience, in trading, I always go for the exchange that has a good review and I would ask the crypto community (or traders)what is their experience in this exchange before I use the exchange, Always secure your self when it comes to money do your own investigation before using an exchange
April 25, 2020, 06:14:43 AM
No single crypto exchange is safe, either old or new but new exchanges are the most dangerous of all, few old exchanges are more reliable but would be a bad idea to leave your coins on any exchange, they can get hacked any time
Any crypto service is like this. Gambling site, exchange, even new forums. The longer they last, the more likely they are not to exit scam (provided they make more money staying legit than they do if they exit scam).
But hacks? Hacks got nothing to do with how old the exchange is. Some hacks even just wait ages before activating just to wait till loads more money is in the wallets.
April 25, 2020, 02:10:10 AM
No single crypto exchange is safe, either old or new but new exchanges are the most dangerous of all, few old exchanges are more reliable but would be a bad idea to leave your coins on any exchange, they can get hacked any time
April 24, 2020, 01:15:21 PM
not all exchanges are safe for trading. If you just want to trade, use an exchange that has been popular with crypto.
never trade on exchanges with fake trading volumes, it may be that sooner or later they leave as fraudsters.
never trade on exchanges with fake trading volumes, it may be that sooner or later they leave as fraudsters.
April 24, 2020, 12:39:24 PM
Been on crypto for 4 years and I know how risky to trade unknown or new trading exchange, A lot of trading exchange was suddenly closed and some got hack by anonymous hacker. I like to hear everyones thoughts about this.
Thank you
Thank you
It's easy only go for trusted and stable exchange, they have earned their reputation because they address all issues and they have worked with the community to make it clean, these exchanges that were hacked are new exchanges or exchanges that have low rating, exchanges are multi million dollar business, it's their job to make their exchange clean and reputable.
April 22, 2020, 02:06:45 AM
It is warning for the potential hack events and investors should avoid storing the cryptocurrencies on the online exchanges. The Mtgox case was the invaluable lesson, the Binance can be the second similar case. There is no "safe" in online world, unfortunately.
Binance is one of the biggest out there so they will likely be a target of hackers since the most popular ones attract to most attacks. But they are knowing about this from beforehand so likely they have some countermeasures in place. Of course if it is a insider job and the exchange decides to scam its users then there are people who can be sought after like the owner of Binance but still the ability to get back any amount on liquidation is grim. Because crypto is not regulated like that, in fact is completely unregulated still that all a common user can do.It is say that dont store your coins on exchanges but what about those people who have buy or sell orders that have been at at certain points which are less likely to hit in the next few months?
April 21, 2020, 05:41:45 PM
None of the exchanges are safe.
None.
It doesn't matter if it is new or old. All of them are unsafe. Even binance leaked people's KYC documents before. There isn't a safe exchange. It is just waiting its turn to get hacked. If you don't want to be the sucker, don't keep your coins on exchanges.
None.
It doesn't matter if it is new or old. All of them are unsafe. Even binance leaked people's KYC documents before. There isn't a safe exchange. It is just waiting its turn to get hacked. If you don't want to be the sucker, don't keep your coins on exchanges.
Yes, simple and straightforward. After you trade in the exchange, move it to your own wallet. Don't store your coins for too long even in top exchanges. They all have vulnerability to attacks because hackers will try their very best to penetrate their system. Also, when you want to trade a specific coin, choose an exchange with better liquidity so you will not wait for days just to trade and get out of your funds.
April 21, 2020, 05:36:45 PM
It is warning for the potential hack events and investors should avoid storing the cryptocurrencies on the online exchanges. The Mtgox case was the invaluable lesson, the Binance can be the second similar case. There is no "safe" in online world, unfortunately.
April 14, 2020, 10:20:21 AM
No single exchange is safe, not even binance or kucoin because they can still be hacked and you will lose your funds, do not leave your coins that worth alot on exchanges, you have no total control over the coins
April 14, 2020, 01:02:48 AM
so even if you only use Bitcoin but your country fiat is not supported in the exchange, you will find one that does right?
In such cases the is a problem for the trader. Either they have to stop trading and wait till a proper and well maintained exchange comes up that supports their local currency or withdraw their coins and use a P2P trade to clear out their coins and luiqdate to fiat currency, basically means ending their trading of crypto.Now when a new exchange that supports their own country's fiat appears it would again be better to wait till they become established, get verified there and then use the same principle of not leaving coins on exchanges to be safe. Of course one can be never be safe of sudden hacks and exit scams when their orders are still on hold, but that how it is here.
April 13, 2020, 07:02:50 AM
The demand for the newer exchanges comes from the fact that some investors want to take the risk with newly launched currencies. These ICO/IEOs need to list themselves somewhere due to public demand and thus they have to fund it too. So now the newer exchanges give them a easy deal than Binance who asks for huge listing fees. Thus the partnership between a new token for a new exchange happens and leads a lot of exchanges popping up everywhere.
If you are into bitcoin trading only then you will not face these problems which is IMO the safer and more sane way to trade here. More you get into the newer shitcoins, more you are taking risks.
If you are into bitcoin trading only then you will not face these problems which is IMO the safer and more sane way to trade here. More you get into the newer shitcoins, more you are taking risks.
Exactly. New exchanges are basically just new listing sites for IEOs. Some exchanges launch also to take a new market that the big guys ignore (for example like if you are from a country that does not have a local currency listed in Binance). Demand is always from public,,, so even if you only use Bitcoin but your country fiat is not supported in the exchange, you will find one that does right?
April 13, 2020, 01:09:15 AM
Most exchanges are scam, even those that looks legit like vindax, coinsbit and other new exchanges will exit scam one day, it's better to use top exchanges like kucoin or binance and make sure you don't leave coins on exchanges
April 13, 2020, 12:15:48 AM
Do not use new exchanges, there are high chances of hacks and exit scams, top exchanges are the best and just because they are the best do not leave your coins on them, anything can happen, your coins will be more safer in your wallet
The demand for the newer exchanges comes from the fact that some investors want to take the risk with newly launched currencies. These ICO/IEOs need to list themselves somewhere due to public demand and thus they have to fund it too. So now the newer exchanges give them a easy deal than Binance who asks for huge listing fees. Thus the partnership between a new token for a new exchange happens and leads a lot of exchanges popping up everywhere.If you are into bitcoin trading only then you will not face these problems which is IMO the safer and more sane way to trade here. More you get into the newer shitcoins, more you are taking risks.
April 12, 2020, 09:22:27 AM
Been on crypto for 4 years and I know how risky to trade unknown or new trading exchange, A lot of trading exchange was suddenly closed and some got hack by anonymous hacker. I like to hear everyones thoughts about this.
Thank you
Do not use new exchanges, there are high chances of hacks and exit scams, top exchanges are the best and just because they are the best do not leave your coins on them, anything can happen, your coins will be more safer in your walletThank you
Its not really that necessary for you to cross out all new exchange since not all are just scams or frauds.There were even good ones but doesnt really get too much attention due to very high competition when it comes to exchange markets.
Come to think that we didnt even expect for Binance to get that big since we do much prefer into those old times on using Bitfinex,bittrex and poloniex but all of these exchangers
been surpassed but i do agree that top exchangers would be always the best choice to consider.
April 12, 2020, 02:17:21 AM
Been on crypto for 4 years and I know how risky to trade unknown or new trading exchange, A lot of trading exchange was suddenly closed and some got hack by anonymous hacker. I like to hear everyones thoughts about this.
Thank you
Do not use new exchanges, there are high chances of hacks and exit scams, top exchanges are the best and just because they are the best do not leave your coins on them, anything can happen, your coins will be more safer in your wallet Thank you
April 12, 2020, 01:42:36 AM
Since there is a lack of regulation and legal lacking in cryptcurrency and its trading, you have to assume that every exchange is going to scam one day and then decide how to proceed. The ones who have established business and a registered business somewhere on the mainlands can be trusted to a larger degree than the ones running from less known island/offshore businesses - which is done for several reasons one of which is tax evasion.
Now for new exchanges you are always at risk of them being scam. So dont use them as soon as they start but wait for others to review it and also check the legitimacy of these reviews.
For established exchanges, use the exchange as long as you need to trade. Once you are done trading withdraw your coins.
Now for new exchanges you are always at risk of them being scam. So dont use them as soon as they start but wait for others to review it and also check the legitimacy of these reviews.
For established exchanges, use the exchange as long as you need to trade. Once you are done trading withdraw your coins.
April 11, 2020, 10:19:20 AM
all exchanges in the world still cannot be said 100% safe...
but you can choose the safest according to their reputation, Binance, OKEx, coinbase, huobi, bitfinex I think it's very safe. but you are also required to further strengthen the security of your account by activating 2fa authentication.
but you can choose the safest according to their reputation, Binance, OKEx, coinbase, huobi, bitfinex I think it's very safe. but you are also required to further strengthen the security of your account by activating 2fa authentication.
April 11, 2020, 05:26:14 AM
Been on crypto for 4 years and I know how risky to trade unknown or new trading exchange, A lot of trading exchange was suddenly closed and some got hack by anonymous hacker. I like to hear everyones thoughts about this.
Thank you
Of course new exchange are not safe to use as most of them will end up scamming the funds of users who have deposited to their exchange. It will be best if you are going to use the top exchange and are currently being use by many users like Binance and etc. Thank you
Trading to a new exchange is not safe at all but if you are going to take the risk then it is up to you because there are many cases that new exchange turned out to scam at the end even if they started prettty good like BCNEX and etc. So it will be best if you will be wise in choosing what exchange you are going to use if you like to trade.
Exchanges can be really useful if you need to change between currencies and thus can be relatively safe however overall it is never a good idea to treat an exchange like a bank.
You already knew how risky they are so you don't have to give them attention and just skip everytime something invites you to pay them a visit. They are not worth of your time and even the slightest satoshi that you will ever deposit to them.
Avoid and forget them that's all you need to react. For the four years of your experience, you can easily tackle what are the exchanges that you can continue using and what are not to trust.
Avoid and forget them that's all you need to react. For the four years of your experience, you can easily tackle what are the exchanges that you can continue using and what are not to trust.
Been on crypto for 4 years and I know how risky to trade unknown or new trading exchange, A lot of trading exchange was suddenly closed and some got hack by anonymous hacker. I like to hear everyones thoughts about this.
Thank you
Thank you
Its been said for a thousand times or even hundreds of thousands about exchange platform is never been a good place for you storing up your coins - for trading it up then its considerable but putting it on idle on an exchange wallet then its a risky one.When it comes to the "safe" word in terms of trading activity then always stick with the best ones and dont consider or select to those who arent known or just newly heard of.
Also with KYC thing where even best exchange doesnt guaranteed out that given documents of its users are totally safe into its hands.Just mentioned above that even Binance do have that issue of leaked documents.
Custodial exchangers are commonly used due to fiat pairs compared to non-custodial..Some are fully aware but majority are just neglecting this one because they do stick out on a place where
it do gives out their needs.
Been on crypto for 4 years and I know how risky to trade unknown or new trading exchange, A lot of trading exchange was suddenly closed and some got hack by anonymous hacker. I like to hear everyones thoughts about this.
Thank you
Thank you
your 4 years on this space but your still confuse if what exchange are safe and not ? of course new exchange are risky than on older one but if your really curious with them then dont depo big . see how they work because its not easy to gain reputation from scratch .
old exchanges got hacked too but its rare to see them closing down . if ever they will close they will always announce it in advance because old exchange are mainly legit . newer ones are most potential to scam exits but less prone from being hacked .
Been on crypto for 4 years and I know how risky to trade unknown or new trading exchange, A lot of trading exchange was suddenly closed and some got hack by anonymous hacker. I like to hear everyones thoughts about this.
Thank you
You already have idea that its not really secured to use new exchange to stored your money.Thank you
We have many thread created here for scam new exchange.
SCAM Exchange - creekex.com
Warning! 20 days are over! BCNEX likely a scam exchange now!
Folgory exchange is a scam
COINSBIT.IO SCAM EXCHANGE + PONZI SCHEME !!!
this proven more of them created just to scam trader's this is also the reasons why you should be careful using new exchange.
Use only exchange that trusted by many users here , even its trusted you should not stored your crypto on that exchange for long . use it only for trading porpuses.
Been on crypto for 4 years and I know how risky to trade unknown or new trading exchange, A lot of trading exchange was suddenly closed and some got hack by anonymous hacker. I like to hear everyones thoughts about this.
Thank you
Thank you
Just stick on the trusted exchanges that has been operating for years , dont fall on new exchanges that offers 0%fee on trades, sometimes its only front act to attract traders and then steal thier money.
I'm strictly sticking to non-custodial exchanges. I'm not going to trust even the most popular exchanges with my money. Bitrex and Poloniex both screwed me even after many years of using them (grandfacther accounts). They suddenly started asking for full-on verification and didn't allow withdrawals. Sure, some would say the writing was on the wall, but I'd expect they would at least would let us withdraw our funds in case we don't want to get verified. But no.
And they get to decide if they accept or deny verifications and if they do deny, they get to keep the funds.
So yeah, never again. I'm sticking to mostly Bisq. Not perfect, but waaay better/safer than traditional exchanges.
The only time I'm using non-custodial services, is if I'm dealing with small amounts of money, like online betting on cloudbet.
Basically, if anyone who keep using centralized and/or custodial wallets/exchanges/services, they WILL get screwed eventually. They introduce having to trust the other party, which is one of the basic principles crypto goes against so it's foolish to give up - even if it's very convenient.
And they get to decide if they accept or deny verifications and if they do deny, they get to keep the funds.
So yeah, never again. I'm sticking to mostly Bisq. Not perfect, but waaay better/safer than traditional exchanges.
The only time I'm using non-custodial services, is if I'm dealing with small amounts of money, like online betting on cloudbet.
Basically, if anyone who keep using centralized and/or custodial wallets/exchanges/services, they WILL get screwed eventually. They introduce having to trust the other party, which is one of the basic principles crypto goes against so it's foolish to give up - even if it's very convenient.
None of the exchanges are safe.
None.
It doesn't matter if it is new or old. All of them are unsafe. Even binance leaked people's KYC documents before. There isn't a safe exchange. It is just waiting its turn to get hacked. If you don't want to be the sucker, don't keep your coins on exchanges.
None.
It doesn't matter if it is new or old. All of them are unsafe. Even binance leaked people's KYC documents before. There isn't a safe exchange. It is just waiting its turn to get hacked. If you don't want to be the sucker, don't keep your coins on exchanges.
Been on crypto for 4 years and I know how risky to trade unknown or new trading exchange, A lot of trading exchange was suddenly closed and some got hack by anonymous hacker. I like to hear everyones thoughts about this.
Thank you
Thank you
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