What's the biggest problem with EXCHANGES right now? - page 2.

Jating

hero member

Activity: 2842

Merit: 772

Quote from: rickyNmorty on January 08, 2018, 05:54:35 AM

There are so many verifications now and has a low limits. Exchangers can't deal with massive transactions, Slow updates, Lags and delays, and high fees. I can't even buy when i need it the most because of delays and too much time verifying of identities. I hope exchanges will narrow the problems and hopefully they can resolve it.

You have to understand where they are coming from. Never would have they thought that their customers based would literally goes to thousands in short amount of time specially when bitcoin is going up. That's why we have this kind of lagging that makes us so frustrated and it a matter of minutes, instead of making tons of money, we ended up losing.

But its no excuse though from their end, they are business and just like any other businesses, they should make their customers happy. They need to upgrade everything from server infrastructure to support because if not for us I'm sure that they won't be making tons of money today because of the crypto world is booming.

soname12

member

Activity: 266

Merit: 15

Quote from: janbrzeski on January 04, 2018, 01:37:11 PM

What do you think is the biggest problem/what's lacking with current crypto exchanges? There are quite a few of them, they're making hundreds of thousands a day and yet I can't help but notice some things like...

-> Terrible, inexistant support (on most)
-> Verification takes weeks
-> Reliability (uptime) sucks

Personally what I'd like to see most is an exchange with FLAT FEES. Wtf why are all percentage based? With stocks you usually pay like $5-$10 per order. Here you end up paying hundreds if you trade bigger amounts.

So... what's yours?

I'm thinking you want to be fast and do not waste your time and money. This is impossible because nobody creates a free exchange platform. Verification time means higher credibility, so do not complain about this.

rickyNmorty

member

Activity: 451

Merit: 15

Investor

There are so many verifications now and has a low limits. Exchangers can't deal with massive transactions, Slow updates, Lags and delays, and high fees. I can't even buy when i need it the most because of delays and too much time verifying of identities. I hope exchanges will narrow the problems and hopefully they can resolve it.

Sccit

member

Activity: 84

Merit: 10

definitely support on hitbc's end.....i believe theyre a legit exchange, but they need to move quicker. all these complaints they've been getting lately is going to damage their reputation if they don't find staff to handle issues in a more timely manner.

i lost my phone with 2fa ..

binance took care of it in 1 day
bittrex took 2 days
hitbtc has yet to help me going on day 4

it's a shame because when i was referred to hitbtc i was told they were one of the more reputable exchanges....this means they will ruin their own reputation if they don't start moving in the right direction. they have a lot of coins, are convenient for ico's, and have a great interface. they could actually be the best exchange if their support was more accessible.

tech72

full member

Activity: 427

Merit: 100

Poor Support is the biggest downside. In case there are any issues, reply from support would take forever. We can also balmer high incoming of users for this. The exchanges haven't been able to keep up with this rush of users and even closed new registrations. Let's see if they would improve their staffing before registerations are opened again.

Apart from this I haven't faced any issues on exchanges I am using.

Arkham Knight

full member

Activity: 532

Merit: 100

For me, it's the maintenance that always get in your way when there's a good opportunity to make an arbitrage. And one more thing is the fees and I think it will increase more and more in the long run.

milewilda

legendary

Activity: 3094

Merit: 1127

Quote from: sebastianpenguen on January 05, 2018, 02:29:43 PM

Quote from: Tavarez on January 05, 2018, 02:11:40 PM

I am doing all my business on cex.io and it worked great since the January of 2017 but things got worse by the end of 2017 (December) and continued up to the day. Each day site goes off, registration for new user disabled, withdrawals delayed, even had to deposit my visa just to reactivate it. I am considering some other options in recent days.

Cex io is a fast one but the fee rate is high there as far as I know because some of my friends are using it. The problem with the rest, their systems are very slow for day trading. Sometimes getting stuck and it's terrible when you want to sell or buy tokens.

Fast executions of orders either buy and sell would be one of the most important thing for me or any other day traders which do really need to be quick on placing or pull outing some trades. I havent tried out cex.io ever though but later i will test it out if it is much faster compared on the current exchange that im using as of now. Interface would really matter and also not to forget support is always should be prioritized by them.

janbrzeski

newbie

Activity: 14

Merit: 0

Quote from: sebastianpenguen on January 05, 2018, 02:29:43 PM

Quote from: Tavarez on January 05, 2018, 02:11:40 PM

I am doing all my business on cex.io and it worked great since the January of 2017 but things got worse by the end of 2017 (December) and continued up to the day. Each day site goes off, registration for new user disabled, withdrawals delayed, even had to deposit my visa just to reactivate it. I am considering some other options in recent days.

Cex io is a fast one but the fee rate is high there as far as I know because some of my friends are using it. The problem with the rest, their systems are very slow for day trading. Sometimes getting stuck and it's terrible when you want to sell or buy tokens.

The slow trading sucks, I agree, although that is mainly due to the huge increase in volume lately.

sebastianpenguen

sr. member

Activity: 308

Merit: 250

Quote from: Tavarez on January 05, 2018, 02:11:40 PM

I am doing all my business on cex.io and it worked great since the January of 2017 but things got worse by the end of 2017 (December) and continued up to the day. Each day site goes off, registration for new user disabled, withdrawals delayed, even had to deposit my visa just to reactivate it. I am considering some other options in recent days.

Cex io is a fast one but the fee rate is high there as far as I know because some of my friends are using it. The problem with the rest, their systems are very slow for day trading. Sometimes getting stuck and it's terrible when you want to sell or buy tokens.

WatchMaker

full member

Activity: 518

Merit: 104

PUFFY FINANCE

Quote from: janbrzeski on January 04, 2018, 01:37:11 PM

What do you think is the biggest problem/what's lacking with current crypto exchanges? There are quite a few of them, they're making hundreds of thousands a day and yet I can't help but notice some things like...

-> Terrible, inexistant support (on most)
-> Verification takes weeks
-> Reliability (uptime) sucks

Personally what I'd like to see most is an exchange with FLAT FEES. Wtf why are all percentage based? With stocks you usually pay like $5-$10 per order. Here you end up paying hundreds if you trade bigger amounts.

So... what's yours?

Yes, Almost all exchanges work based on percentages these days and people end up paying a large amount of money while exchanging or transferring their money in or out of the exchange. They are making so much money off the people every day and it still appears they don't really like upgrading their services that is why people are encountering problems such as bad customer support, Verification takes weeks, and the uptime sucks.

Tavarez

sr. member

Activity: 700

Merit: 252

I am doing all my business on cex.io and it worked great since the January of 2017 but things got worse by the end of 2017 (December) and continued up to the day. Each day site goes off, registration for new user disabled, withdrawals delayed, even had to deposit my visa just to reactivate it. I am considering some other options in recent days.

Partizanai

member

Activity: 112

Merit: 10

Quote from: janbrzeski on January 04, 2018, 01:37:11 PM

What do you think is the biggest problem/what's lacking with current crypto exchanges? There are quite a few of them, they're making hundreds of thousands a day and yet I can't help but notice some things like...

-> Terrible, inexistant support (on most)
-> Verification takes weeks
-> Reliability (uptime) sucks

Personally what I'd like to see most is an exchange with FLAT FEES. Wtf why are all percentage based? With stocks you usually pay like $5-$10 per order. Here you end up paying hundreds if you trade bigger amounts.

So... what's yours?

for me the biggest issue now is laggy interface, now with a lot of new people trading i feel like my trading window is delayed and i suffer loses from it

nicster551

sr. member

Activity: 896

Merit: 253

Quote from: janbrzeski on January 04, 2018, 01:37:11 PM

What do you think is the biggest problem/what's lacking with current crypto exchanges? There are quite a few of them, they're making hundreds of thousands a day and yet I can't help but notice some things like...

-> Terrible, inexistant support (on most)
-> Verification takes weeks
-> Reliability (uptime) sucks

Personally what I'd like to see most is an exchange with FLAT FEES. Wtf why are all percentage based? With stocks you usually pay like $5-$10 per order. Here you end up paying hundreds if you trade bigger amounts.

So... what's yours?

the verification is not the problem of exchange its from the blockchain and miner.
most is the support and the server lag of the exchange i will be better if the upgrade there server so we can trade smooth.

janbrzeski

newbie

Activity: 14

Merit: 0

Quote from: steveabrahams on January 05, 2018, 10:46:58 AM

Quote from: janbrzeski on January 04, 2018, 01:37:11 PM

What do you think is the biggest problem/what's lacking with current crypto exchanges? There are quite a few of them, they're making hundreds of thousands a day and yet I can't help but notice some things like...

-> Terrible, inexistant support (on most)
-> Verification takes weeks
-> Reliability (uptime) sucks

Personally what I'd like to see most is an exchange with FLAT FEES. Wtf why are all percentage based? With stocks you usually pay like $5-$10 per order. Here you end up paying hundreds if you trade bigger amounts.

So... what's yours?

Agreed with verification, some sites like bittrex is very sucks to verify our account. It takes more than 3 weeks in my case and still no reply from the support to verify my account. About the fees, it's hard for an exchange to take a flat fees. You know, the bitcoin network is different, when it crowded the fees become so high and the exchanges won't cover it.

True, but correct me if I am wrong - they dont actually pay any fees on trades (the bitcoin or altcoin that you trade isn't actually *sent* anywhere when you buy or sell). The transaction fees only come into play when withdrawing from the exchange (as they have to *sent* the BTC/altcoin to your chosen wallet)

I don't understand why something like this wouldn't be possible -

0.1% fee for trades <$7k
$7 FLAT fee for trades above $7k

I just don't see a fair reason for people to pay hundreds of dollars for placing big trades

steveabrahams

sr. member

Activity: 1050

Merit: 254

Quote from: janbrzeski on January 04, 2018, 01:37:11 PM

What do you think is the biggest problem/what's lacking with current crypto exchanges? There are quite a few of them, they're making hundreds of thousands a day and yet I can't help but notice some things like...

-> Terrible, inexistant support (on most)
-> Verification takes weeks
-> Reliability (uptime) sucks

Personally what I'd like to see most is an exchange with FLAT FEES. Wtf why are all percentage based? With stocks you usually pay like $5-$10 per order. Here you end up paying hundreds if you trade bigger amounts.

So... what's yours?

Agreed with verification, some sites like bittrex is very sucks to verify our account. It takes more than 3 weeks in my case and still no reply from the support to verify my account. About the fees, it's hard for an exchange to take a flat fees. You know, the bitcoin network is different, when it crowded the fees become so high and the exchanges won't cover it.

Insanerman

sr. member

Activity: 1162

Merit: 450

So far I've noticed these problems.
1.Slow verification process of many exchanges like Poloniex and Bittrex. It takes weeks to be fully verified.
2.Slow response of their support contact.
3.High Transaction fees.
4.LAG that makes the trading delayed causing you to lose money.
5.Security? Because I'm very worried now storing large amount of crypto in an exchange. Etherdelta is one.

vasrasus

hero member

Activity: 946

Merit: 500

Bcnex - The Ultimate Blockchain Trading Platform

Quote from: JoMarrah Iarim Dan on January 05, 2018, 08:48:59 AM

Quote from: janbrzeski on January 04, 2018, 01:37:11 PM

What do you think is the biggest problem/what's lacking with current crypto exchanges? There are quite a few of them, they're making hundreds of thousands a day and yet I can't help but notice some things like...

-> Terrible, inexistant support (on most)
-> Verification takes weeks
-> Reliability (uptime) sucks

Personally what I'd like to see most is an exchange with FLAT FEES. Wtf why are all percentage based? With stocks you usually pay like $5-$10 per order. Here you end up paying hundreds if you trade bigger amounts.

So... what's yours?

Few hours ago, I checked my account in etherdelta. I noticed that the coin I sell is already sold. Now I want to transfer my eth becuase I want to use it to buy another coin. When I click withdraw notification appeared, it says OK blahblah with the transaction hash below. I clicked the transaction hash then i saw SORRY UNKNOWN TRANSACTION. I tried it many times but it repeats again and again. I asked one of my friend about it. He also do not know why it is happening and according to him, he is waiting his bitcoin in HITBTC. His bitcoin is already 2 days receiving. I do not know why it happening but I am hoping that it will be fixed sooner.

there were previous hacked on etherdelta, thats why some were changing their ETH address whenever I vsited some bounty campagins, I hope it will fixed too since its alarming and does affect exchanges. hitbtc were fine too for new alts entry.

emmanborromeo67

full member

Activity: 196

Merit: 103

For me is the biggest problem of a exchanes because of fee. Not all exchane are big pay

ClarksonI

member

Activity: 79

Merit: 10

For me it is that they are not really regulate, they can at any time leave with our money it is quite disturbing, also the fact that it is not decentralized favors the hacking

JoMarrah Iarim Dan

sr. member

Activity: 644

Merit: 252

Quote from: janbrzeski on January 04, 2018, 01:37:11 PM

What do you think is the biggest problem/what's lacking with current crypto exchanges? There are quite a few of them, they're making hundreds of thousands a day and yet I can't help but notice some things like...

-> Terrible, inexistant support (on most)
-> Verification takes weeks
-> Reliability (uptime) sucks

Personally what I'd like to see most is an exchange with FLAT FEES. Wtf why are all percentage based? With stocks you usually pay like $5-$10 per order. Here you end up paying hundreds if you trade bigger amounts.

So... what's yours?

Few hours ago, I checked my account in etherdelta. I noticed that the coin I sell is already sold. Now I want to transfer my eth becuase I want to use it to buy another coin. When I click withdraw notification appeared, it says OK blahblah with the transaction hash below. I clicked the transaction hash then i saw SORRY UNKNOWN TRANSACTION. I tried it many times but it repeats again and again. I asked one of my friend about it. He also do not know why it is happening and according to him, he is waiting his bitcoin in HITBTC. His bitcoin is already 2 days receiving. I do not know why it happening but I am hoping that it will be fixed sooner.

Topic: What's the biggest problem with EXCHANGES right now? - page 2. (Read 399 times)