Topic: The most frustrating thing about crypto - page 11. (Read 4388 times)
Most frustrating thing about crypto is it's volatility. Prices of coins and tokens change with the drop of a Hart . Nothing is predictable within the ecosystem
Remember that in the end exchanges are centralized, that's why they are so ineffective, we are used to wallet to wallets transactions that last 30 minutes maximum, when we make some transaction in an exchange first they have to pass checks and that's why sometimes it can take so long.
In any case, each user of a cryptocurrency feels more confident when transactions take place in a matter of seconds or minutes, so we want to receive our services much better. But apparently the technology is not yet ready for such a scale of work.
Remember that in the end exchanges are centralized, that's why they are so ineffective, we are used to wallet to wallets transactions that last 30 minutes maximum, when we make some transaction in an exchange first they have to pass checks and that's why sometimes it can take so long.
The most frustrating thing of crypto are crypto exchanges that require a KYC for a very small transaction. Like I withdraw my ALT from my wallet to exchange that I suppose to sell, unfortunately it was not sold at my asking price, to withdraw the ALT and deposit it back in my wallet I have to undergo a tedious process. So frustrating!
Personally for me the most frustrating thing was such huge amount of scam and FUD. I thought it is somehow regulated..
I understand with disappointment that you experience a very long withdrawal and you can't do anything. many of the communities also experienced the same thing, but crypto has already been adopted by many institutions even by several countries. maybe you can replace the exchange that you normally use using other exchanges like bitrex for example and there are many more exchanges that have fast server speeds.
The most frustating thin in the crypto is about the volatilty and scammers. At least you can still try to re-broadcast your transaction. the transaction not depends on how fast the server of that exchange but that depends on the blockchain of the coin itself. i guess that you have known about that.
I think the big deal is that you are having problems with crypto, but for me, the longest time to wait is 1 hour because at that time crypto transaction volume is high. And withdraw only takes 15 minutes. So try again, not say so because crypto is currently considered the fastest transaction processing speed.
Well you need to understand cryptocurrencies first and by saying that its about transactions time . By IDEX I mean Etherium gas you always need to check GWEI price and by increasing you will speed up transaction. Other exchanges are also taking time by confirming transactions which you not influence by paying more for transaction but keep an eye on that for future !!!!!!
Well you can move to another exchange which doesn't do what keeps you frustrated. Thats not what frustrate me in crypto, what does it that you keep the coins for more than years and yet the price still is the same as what it use to. You have been waiting for years and yet the price which you expect to be more than jsut a cent weren't happening still. its frustrating to see that you have poured out all your savings yet it hasn't grown while the token that you thought isn't going to be progressive is moving forward and is now worth more than $5.
Perhaps this is the most unpleasant thing in crypto, when your assets for which you pinned your hopes fall in price and as a result do not cost anything. Moreover, it is almost impossible to insure against such an outcome; what can really be done is to reduce the risks by diversifying funds.
And that is exchanges who are keeping coins/tokens hostile for a long period of time. When I deposit or withdrawal from an exchange often times it just keeps it in pending status. Now I'm waiting for an idex deposit, 4 hours passed. My worst case was a withdrawal at cryptopia which took 30 days.
Crypto is not ready to be adopted by the masses. Lots of suicides would be the result...
Crypto is not ready to be adopted by the masses. Lots of suicides would be the result...
I think if you will use good and popular exchanges and also if you will use dex's with more gwei amounts you will never live such a things.
Surely like cryptopia or etc some low level exchanges you can live some problems but in kucoin idex binance forkdelta etc i never have any problem abour withdrawal.
In my opinion, the most frustrating part in crypto is when you realized that you make a wrong decision with it. Just like when you are selling your crypto when the price starts to fall deeper, and realized you are very wrong when it rises drastically in the following weeks or months.
Well the only frustrating thing is to incur loses after investing heavily in a coin and watch it decline it quiet disheartening. People should made to know how crypto runs to avoid any misfortunes.
And that is exchanges who are keeping coins/tokens hostile for a long period of time. When I deposit or withdrawal from an exchange often times it just keeps it in pending status. Now I'm waiting for an idex deposit, 4 hours passed. My worst case was a withdrawal at cryptopia which took 30 days.
Crypto is not ready to be adopted by the masses. Lots of suicides would be the result...
Crypto is not ready to be adopted by the masses. Lots of suicides would be the result...
If you are having problems with sending and receiving tokens from an exchange it might be caused by:
1. You sent the token with few gas. More gas will result to faster transaction (try using 41-60 gwei)
2. The exchange you are using is having some server issues or the network is full. Top Exchanges normally has fast deposit (11-15 block confirmation) and withdrawal rates.
I haven't experienced that long with idex but that's seriously frustrating.
A long time waiting for deposit and withdrawal is one of the reason why many are disappointed in trading but that doesn't mean that they are losing faith in crypto.
A long time waiting for deposit and withdrawal is one of the reason why many are disappointed in trading but that doesn't mean that they are losing faith in crypto.
There are so many frustrating things about crypto; (1) when you invest in a shitcoin, (2); when you fall prey to a scammer who makes you believe you can double $Bitcoin with some wonder app. (3); when you buy a coin at a peak and it drops with your investment below zero. (4); when you think ETH network has sent your transaction only to realize you sent 0ETH paying a fee of $172. (5); When you leave your holdings in an exchange and it gets hacked and you lose everything! (6); When your transaction (Withdrawal or Deposit) gets stuck and you are waiting two weeks for support to answer your query. ; (7) When you send a transaction on ETH and you are told insufficient gas. ( 8 ) When you send bitcoin from two separate addresses at the same time and one cancels the other and you lose money. (9); when an ICO sends you only one token from a total supply of 10billion during an airdrop. (10); When You invest in an ICO and it dumps at exchanges and the project dies with no dev to be found anywhere.! the list just goes on....
I understand with disappointment that you experience a very long withdrawal and you can't do anything. many of the communities also experienced the same thing, but crypto has already been adopted by many institutions even by several countries. maybe you can replace the exchange that you normally use using other exchanges like bitrex for example and there are many more exchanges that have fast server speeds.
The most frustating thin in the crypto is about the volatilty and scammers. At least you can still try to re-broadcast your transaction. the transaction not depends on how fast the server of that exchange but that depends on the blockchain of the coin itself. i guess that you have known about that. I think for me the most frustrating thing about cryptos when you have a coin, and you sold it and later the price went up so high or you have a cryptos and you refuse to sell and the price went dip down. it's so frustrating
Again that is not a problem that only affects cryptocurrencies, all the currencies around the world have the same problem and unfortunately it is not something that you can avoid because you need some medium of exchange to pay for the products and services that you need, so the only thing that I can say to you is that if you do not like that you should probably not invest in cryptocurrencies.
Formally, all modern money really is not provided with anything .Nevertheless, the underlying blockchain technology is seriously considered by some Central banks. In the virtual world everyone is talking about it.
And that is exchanges who are keeping coins/tokens hostile for a long period of time. When I deposit or withdrawal from an exchange often times it just keeps it in pending status. Now I'm waiting for an idex deposit, 4 hours passed. My worst case was a withdrawal at cryptopia which took 30 days.
Crypto is not ready to be adopted by the masses. Lots of suicides would be the result...
Every exchange management not good you don't know that? In general, it does not take much time. I think you tried to withdraw low gwei, 20-25 gwei is the best and within 15 minutes it will be successfully deposit. Cryptopia takes long days to withdrawal money from exchange for inactive administration. Follow it https://ethgasstation.info/ Crypto is not ready to be adopted by the masses. Lots of suicides would be the result...
I understand with disappointment that you experience a very long withdrawal and you can't do anything. many of the communities also experienced the same thing, but crypto has already been adopted by many institutions even by several countries. maybe you can replace the exchange that you normally use using other exchanges like bitrex for example and there are many more exchanges that have fast server speeds.
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