What are the disadvantages of cryptocurrency exchanges? - page 3.

farosa

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Quote from: Streamity on July 13, 2018, 09:13:35 AM

Every day the popularity of cryptocurrencies is increasing. Millions of people – traders, politicians, financiers, analysts-follow the dynamics of their rates. However, nowadays, the use of digital assets is difficult. Even the purchase and exchange of cryptocurrencies are associated with problems - currency rates on different platforms are very different, and a solid commission is charged when withdrawing funds.

In my opinion the biggest disadvantage is, if you make a mistake, you can not get your money back. I mean when you send money to anyone with bank, if there is an error, you can fix it and send it again. But in cryptocurrency if even a letter mistake you made,, you have probably lost your money.

Slow death

legendary

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Quote from: Streamity on July 13, 2018, 09:13:35 AM

What are the disadvantages of cryptocurrency exchanges?

1 -) Exchange does not have physical office

2 -) Many exchange has no license

3 -) Many exchange has no responsibility

4 -) Many exchange has no respect for its customers

5 -) Many exchange does not have enough staff to handle support tickets

6 -) Many exchanges are anonymous which creates a great headache if you want to complain about a serious problem

7 -) Many exchange has accusations of being scam

8 -) Many exchange charges high values for new altcoins to be listed, but we do not see these exchange to improve their services which reveals that the owners of many exchanges are just greedy people who only think about money

just see this:

HitBTC scam!

YOBIT Scam Exchange

Poloniex - Account locked for 2 months with open ticket

bittrex is a scam website - AVOID!- WITH PROOF!!

dothebeats

legendary

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There are no disadvantage in a cryptocurrency exchange since it helps people acquire the coins they want and need to hold. In using it, however, there are certain disadvantages in which, IMO can be avoided if the end-user knows what he's doing. Keeping a huge amount in cryptocurrency exchanges had always been a bad thing since crypto exchanges are prone to hacks. Apart from that, anything is good in using crypto exchanges. Keeping yourself safe and vigilant in using these platforms would ensure that no unnecessary loss of funds will occur.

plpatel

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Quote from: Streamity on July 13, 2018, 09:13:35 AM

Every day the popularity of cryptocurrencies is increasing. Millions of people – traders, politicians, financiers, analysts-follow the dynamics of their rates. However, nowadays, the use of digital assets is difficult. Even the purchase and exchange of cryptocurrencies are associated with problems - currency rates on different platforms are very different, and a solid commission is charged when withdrawing funds.

I agree with you, in current scenario majority of exchanges do charge heavy commissions on withdraws, and I think in coming future this problem would be solved via P2P platform exchanges. We would be able to transact in real quick time with low transaction fees.

pey

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Centralized cryptocurrency exchanges are totally bullshit, you actually pay more price than the fee, there is no certainty that your funds are safe Undecided

Koadharber

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Quote from: Streamity on July 13, 2018, 09:13:35 AM

Every day the popularity of cryptocurrencies is increasing. Millions of people – traders, politicians, financiers, analysts-follow the dynamics of their rates. However, nowadays, the use of digital assets is difficult. Even the purchase and exchange of cryptocurrencies are associated with problems - currency rates on different platforms are very different, and a solid commission is charged when withdrawing funds.

Just simple!

If you dont like to make involvement or using up exchange service you can always make use on peer to peer system but i believe this would be more risky than on using exchange when buying or selling up your crypto holdings and for regulation side then we should get used to it yet those exchange are just complying too with government laws for them to continue to operate.
This is the most fastest and convenient way i believe when purchasing or buying up coins.

ajochems

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Bitcoin will be the best platform for trading.Some people lose their money by the hacking .The best option to avoid trading is secure your wallet with any security setup. Two factor authentication will be the best security set up.It will sync with your mobile phone.No one will access your account without the help of your mobile.In Localbitcoin wallet, you will get Two factor authentication in additional.

taiwww

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Quote from: Streamity on July 13, 2018, 09:13:35 AM

Every day the popularity of cryptocurrencies is increasing. Millions of people – traders, politicians, financiers, analysts-follow the dynamics of their rates. However, nowadays, the use of digital assets is difficult. Even the purchase and exchange of cryptocurrencies are associated with problems - currency rates on different platforms are very different, and a solid commission is charged when withdrawing funds.

I am not sure whats bothering you but exchangers are just the way they are! I mean the fees, commission and stuff will always be there when you re having something free. I mean that is what they have as income source and on which they keep working. Currency rates are versatile because of the volatility of market and trading volume over each marketplace. But I dont think there is anymore difference from 1-2% on any two exchangers. I guess that is also a lot one.

queenstella

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Decentralized exchanges can be used to avoid regulation, Many choose to keep their founders identities anonymous. A project having anonymous management can trigger some alarm bells and could be evidence of a cryptocurrency scam. Users should be sceptical at all times in the aspect of their finances

Also lack of of regulation, as there will be very little support from outside parties if decentralized exchange goes down.

liuqi

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All the platform some cons are possible so we should not consider the disadvantages of crypto exchanges. I think all the peoples are choose the best exchanges so lack of investors only know the disadvantages of cryptocurrency exchanges. My self price variation is the major disadvantages of all the exchanges.

keanne_isaac

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Quote from: Streamity on July 13, 2018, 09:13:35 AM

Every day the popularity of cryptocurrencies is increasing. Millions of people – traders, politicians, financiers, analysts-follow the dynamics of their rates. However, nowadays, the use of digital assets is difficult. Even the purchase and exchange of cryptocurrencies are associated with problems - currency rates on different platforms are very different, and a solid commission is charged when withdrawing funds.

for me rate charge is not a big deal as many crypto exchange are evolving in the crypto market the charges varies and one with the cheapest will gain more followers and everyone are free to choose which they think more convenient and secure exchange but the main challenge for crypto exchange for me is it is prone from hacker though the security is high their is still a slim chance that hacker may infiltrate their program and stole millions worth of coins as what we read in many crypto news. i wish government with regulate exchanges and they should set aside bonds for insurance of investors coins once their exchange is getting hacked.

btcdevil

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Quote from: jvdp on July 13, 2018, 09:58:31 AM

Quote from: Streamity on July 13, 2018, 09:13:35 AM

Every day the popularity of cryptocurrencies is increasing. Millions of people – traders, politicians, financiers, analysts-follow the dynamics of their rates. However, nowadays, the use of digital assets is difficult. Even the purchase and exchange of cryptocurrencies are associated with problems - currency rates on different platforms are very different, and a solid commission is charged when withdrawing funds.

There is no any disadvantages on crypto currency platform when it is trading or other investment option. You should be careful while using the exchange sign in. I see the people are really believe the hacking attack is happening on exchanges only.
This is big myth, if you login via any phishing site with searching on Google result.
These link will take you to loose the money you have in your wallet mate. If you are careful in that there is no any problem with the trading platform.

What you are telling is true but that is the mistake of the user but when a exchange is hacked then it is not the mistake of user but it is the mistake of the exchange developers. So you cannot blame whole to the users. But it is also recommended that dont leave your coins in exchange and if you are not a regular trader then it is better that you withdraw the coins when you are not using the exchange for safe side. Apart from that some exchanges are manipulating the users coin and when they are in deep trouble they stat it as exchange got hack and clear their problems.

kolfedinew

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https://www.youtube.com/watch?v=rmU1DMGNxus
Look what I found btckyle

jvdp

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Quote from: Streamity on July 13, 2018, 09:13:35 AM

Every day the popularity of cryptocurrencies is increasing. Millions of people – traders, politicians, financiers, analysts-follow the dynamics of their rates. However, nowadays, the use of digital assets is difficult. Even the purchase and exchange of cryptocurrencies are associated with problems - currency rates on different platforms are very different, and a solid commission is charged when withdrawing funds.

There is no any disadvantages on crypto currency platform when it is trading or other investment option. You should be careful while using the exchange sign in. I see the people are really believe the hacking attack is happening on exchanges only.
This is big myth, if you login via any phishing site with searching on Google result.
These link will take you to loose the money you have in your wallet mate. If you are careful in that there is no any problem with the trading platform.

Crypto_Bro

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Quote from: mountain_hacker on July 13, 2018, 09:47:39 AM

Quote from: Crypto_Bro on July 13, 2018, 09:45:28 AM

Quote from: mountain_hacker on July 13, 2018, 09:43:31 AM

Quote from: Princess04ka on July 13, 2018, 09:41:16 AM

Quote from: trespiclof on July 13, 2018, 09:38:44 AM

Quote from: Crypto_Bro on July 13, 2018, 09:38:28 AM

Quote from: Streamity on July 13, 2018, 09:13:35 AM

Every day the popularity of cryptocurrencies is increasing. Millions of people – traders, politicians, financiers, analysts-follow the dynamics of their rates. However, nowadays, the use of digital assets is difficult. Even the purchase and exchange of cryptocurrencies are associated with problems - currency rates on different platforms are very different, and a solid commission is charged when withdrawing funds.

what's the problem to buy on exchanges?

At the stock exchange you’ll pay commission for fiat and another sphere long process

I use stock exchanges, no problems. what's the service, what are we talkin about?

look it up https://beta.streamdesk.io/ - the smart contract is integrated with the payment system and the transfers are safe directly between people.

like localbitcoin?

better - At localbitoin there is no rating system, so it’s impossible to deceive it. And it is much easier to use. but there is no rating system, so it’s impossible to deceive it. And it is much easier to use.

great! i'll look it up

mountain_hacker

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Quote from: Crypto_Bro on July 13, 2018, 09:45:28 AM

Quote from: mountain_hacker on July 13, 2018, 09:43:31 AM

Quote from: Princess04ka on July 13, 2018, 09:41:16 AM

Quote from: trespiclof on July 13, 2018, 09:38:44 AM

Quote from: Crypto_Bro on July 13, 2018, 09:38:28 AM

Quote from: Streamity on July 13, 2018, 09:13:35 AM

Every day the popularity of cryptocurrencies is increasing. Millions of people – traders, politicians, financiers, analysts-follow the dynamics of their rates. However, nowadays, the use of digital assets is difficult. Even the purchase and exchange of cryptocurrencies are associated with problems - currency rates on different platforms are very different, and a solid commission is charged when withdrawing funds.

what's the problem to buy on exchanges?

At the stock exchange you’ll pay commission for fiat and another sphere long process

I use stock exchanges, no problems. what's the service, what are we talkin about?

look it up https://beta.streamdesk.io/ - the smart contract is integrated with the payment system and the transfers are safe directly between people.

like localbitcoin?

better - At localbitoin there is no rating system, so it’s impossible to deceive it. And it is much easier to use. but there is no rating system, so it’s impossible to deceive it. And it is much easier to use.

Crypto_Bro

jr. member

Activity: 185

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Quote from: mountain_hacker on July 13, 2018, 09:43:31 AM

Quote from: Princess04ka on July 13, 2018, 09:41:16 AM

Quote from: trespiclof on July 13, 2018, 09:38:44 AM

Quote from: Crypto_Bro on July 13, 2018, 09:38:28 AM

Quote from: Streamity on July 13, 2018, 09:13:35 AM

Every day the popularity of cryptocurrencies is increasing. Millions of people – traders, politicians, financiers, analysts-follow the dynamics of their rates. However, nowadays, the use of digital assets is difficult. Even the purchase and exchange of cryptocurrencies are associated with problems - currency rates on different platforms are very different, and a solid commission is charged when withdrawing funds.

what's the problem to buy on exchanges?

At the stock exchange you’ll pay commission for fiat and another sphere long process

I use stock exchanges, no problems. what's the service, what are we talkin about?

look it up https://beta.streamdesk.io/ - the smart contract is integrated with the payment system and the transfers are safe directly between people.

like localbitcoin?

mountain_hacker

newbie

Activity: 116

Merit: 0

Quote from: Princess04ka on July 13, 2018, 09:41:16 AM

Quote from: trespiclof on July 13, 2018, 09:38:44 AM

Quote from: Crypto_Bro on July 13, 2018, 09:38:28 AM

Quote from: Streamity on July 13, 2018, 09:13:35 AM

Every day the popularity of cryptocurrencies is increasing. Millions of people – traders, politicians, financiers, analysts-follow the dynamics of their rates. However, nowadays, the use of digital assets is difficult. Even the purchase and exchange of cryptocurrencies are associated with problems - currency rates on different platforms are very different, and a solid commission is charged when withdrawing funds.

what's the problem to buy on exchanges?

At the stock exchange you’ll pay commission for fiat and another sphere long process

I use stock exchanges, no problems. what's the service, what are we talkin about?

look it up https://beta.streamdesk.io/ - the smart contract is integrated with the payment system and the transfers are safe directly between people.

Princess04ka

member

Activity: 180

Merit: 10

Quote from: trespiclof on July 13, 2018, 09:38:44 AM

Quote from: Crypto_Bro on July 13, 2018, 09:38:28 AM

Quote from: Streamity on July 13, 2018, 09:13:35 AM

Every day the popularity of cryptocurrencies is increasing. Millions of people – traders, politicians, financiers, analysts-follow the dynamics of their rates. However, nowadays, the use of digital assets is difficult. Even the purchase and exchange of cryptocurrencies are associated with problems - currency rates on different platforms are very different, and a solid commission is charged when withdrawing funds.

what's the problem to buy on exchanges?

At the stock exchange you’ll pay commission for fiat and another sphere long process

I use stock exchanges, no problems. what's the service, what are we talkin about?

trespiclof

newbie

Activity: 196

Merit: 0

Quote from: Crypto_Bro on July 13, 2018, 09:38:28 AM

Quote from: Streamity on July 13, 2018, 09:13:35 AM

Every day the popularity of cryptocurrencies is increasing. Millions of people – traders, politicians, financiers, analysts-follow the dynamics of their rates. However, nowadays, the use of digital assets is difficult. Even the purchase and exchange of cryptocurrencies are associated with problems - currency rates on different platforms are very different, and a solid commission is charged when withdrawing funds.

what's the problem to buy on exchanges?

At the stock exchange you’ll pay commission for fiat and another sphere long process

Topic: What are the disadvantages of cryptocurrency exchanges? - page 3. (Read 555 times)