Topic: What exchange is secured for usage and legit for newbies and for all? (Read 246 times)

Yobit Exchange officially started Pump (and Dump) practices last month, although after all the heavy criticisms I don’t know if they will continue with their plan. Pump and Dump practices are not (officially) really exchange initiated but rather whale/group related.

When deciding on what exchange to use, you need to analyse factors such as security, confidentiality (user logged data) , cryptocurrencies on the exchange (what you are interested in may not be on the exchange), fiat acceptance (some do not accept fiat deposits, and require you to make cryptocurrency deposits that you need to acquire elsewhere (i.e. on another exchange)), ease of use, volume being trades, fees (deposit, trade, withdrawal), restrictions (such as minimum withdrawal amounts), and so on.

Now all those factors are not going to be on your mind from the get-go, and the weight of them varies (for example, if you often trade, then fees are a concern, but if you buy and hold then it’s more of a one off feature).

Normally, Coinbase is a good starting point to convert fiat into your first BTC/BCH/ETH/LTC (easy to use, but higher fees than other options). CoinbasePro (family of Coinbase) is better than Coinbase in terms of fees and functionality options once you get the hang of it. I find Binance a decent exchange to expand into Alts.

Binance and kraken are probably the safest, while there is an opinion that the second one is better, but I would choose Binance, the fact that Kraken was not hacked does not mean that it is impossible.

It all depends on so many factors. When trading already established currencies you should go for top exchanges (by ratings) with large trading volume.
But new coins and tokens offers limuted options as they are listed on only a few exchanges.
You need an understanding of how the market works to venture into cryotocurrency trading.
Pumps and dumps hapoen everywhere. And never trust a 2nd party by depending on the reputation of an exchange. Always go by your research and findngs.

Visit https://coinmarketcap.com/rankings/exchanges/ and choose from the top exchanges. All of them are safe and legit. It's only about exchange security, most of hack come from user mistakes, make sure your computer is clean from virus and malware, user strong password and 2 layers security like 2FA authentication. Bookmark the exchange website address and only use by click at your bookmark. Don't forget to back up your log in detail and 2FA recovery phrase because you may lose your phone or computer.

What you mentioned doesnt depend on the exchanges, its the market itself. Pump and dump happens in any market, but due to missing regulations this pattern is very common in the crypto market.

Do not trust blindly exchanges but most safe by my experience so far is: Kraken, Binance.
Once again do not store your funds there as they are banks

Pump and dump isn't an on going trend and this isn't new in the circle. This is already popular since the old times and even I got into the crypto market. If its about the security of these newbies, there's no secure way of guaranteeing their money to profit as they trade.

There's always risk indicated when they trade and if its about the secured way of keeping their money on exchange is they shouldn't keep that much coins to any of them. I've read an incident that there's a coin got de-listed to one exchange and this trader is complaining about it and asks where are his coins now although that exchange gave notification to all of their users.

To create a forum topic in which we all write. What to do and what not to do. How to effectively use the exchange resources, and not be thrown.
And pin this topic, that would have seen it all all the newcomers.
Today, a lot of people lose their currency when they come to bad exchange resources, indeed, it is necessary to stop and help all the guys who do not understand this

There is no exchanges that has a 100percent security but a good top exchanges can limit your vulnerability to hackers or any other menace

In cryptocurrency we have decentralized exchanges and centralized exchanges centralized exchanges are used most time than decentralized exchanges because of it easy but decentralized exchanges offers more advantages that is still yet untaped. Even the very legit exchanges still has had it bad time it's just to stick to a reputable one

pump and dump not really depends on the exchange itself but on the coin pumped. There are so many reputable exchanges to choose from, it doesn't need "an education".

There is an ongoing trend of pump and dump by most exchanges who volumes are less and so newbies who come up to use such exchanges tend to loose so much.

How can we educate our newbies on secured ways of using exchanges?