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I really feel that the growing number of "scam" exchanges are impacting the market negatively in a huge way. With that in mind I am keen to help weed out some of the trash exchanges out there. Bearing this in mind I have found it extremely difficult to differentiate on some of these exchanges so I would like to create a thread where everyone can post both their negative and positive experiences to try and help new comers and veterans onto the crypto scene. The exchanges from personal experience I have found to be trust worthy are as follows:

Binance
Bittrex
Cryptopia (although it is a good place for alt coins beware they do tend to randomly close off markets and their "2 factor" authentication leaves a lot to be desired!
Kucoin
Tidex

The only one i know is 100% a scam so far is Yobit! I am keen to hear from the community regarding their personal experiences with exchanges can anyone comment on Exrates, CoinExchange, Huobi, Trade Satoshi, or any others not already mentioned?


To the admin: I am sorry if this is a repeat post i have not been able to find any other post on this particular subject.

There are plenty exchanges in the market as you listed in your post. But in this still many people believe the hacking fake news about binance attack on last week early days. I personally most liked trading sites are Bitrex, Bitfinex and Cryptopia.
As you mentioned yobit should not be possible place to do the trade. There are many scam attempt reported against them this forum and elsewhere. So this would not be in my list at all.

Thanks for your response, but I was more interested in whether you could offer some other alternative exchanges you have found that work and are actually trustable, in this manner we won't be able to stop everyone getting conned but we will be helping more then a few people falling prey to these scam exchanges out there.

Legitimate does not mean they will not eventually "scam" or get "hacked". Look at the two most recent suspensions in Japan. Both were perfectly legitimate, issued proper licenses and everything. But they still got compromised and as a result were forced to suspend activities. I think for me, if it comes to exchanges, I am now only going to use the ones that do not have a trading platform. Such as Localbitcoins. It is purely people buying and selling to each other, no pump and dump schemes, no hacks, because people do not store their coins there (not the way they do when they trade).

First of all this thread belongs to Exchanges (https://bitcointalk.org/index.php?board=223.0), so please move there.
Secondly, I've seen a thread before on the same topic on listing good exchanges in Exchange board. I'm not sure if it is still active or not, I looked for it but it seems I'm not getting it.
But here are the two threads I found where members discussed about the best exchanges Thread #1 (https://bitcointalk.org/index.php?topic=2205008.0) Thread #2 (https://bitcointalk.org/index.php?topic=3001509.0). You can continue the discussion there or collect the info to make your list.

No one can certainly say which exchange is legit or scam because it may differ from user to user.
Let's say you are saying Bittrex is the best exchange, but on the other side, you will find so many other users complaining about Bittrex. Peoples suffered a lot with Bittrex afair.

But currently, Binance and Kucoin are the two best exchanges for altcoin out there right now in my opinion.

Cryptopia is shit. Why can't people just ditch that exchange and move to better ones that don't hold people's money unnecessarily? Anyone pointing out that Cryptopia is trustworthy, is by default not trustworthy in my book.

People who aren't trustworthy make use of exchanges also not being trustworthy. All pieces come together now, wow! Species of similar nature often tend to stick to each other, and that definitely shows here.

There are many complains about cryptopia but you are listing it.

Try to look also those reviews about it so that you can have a second thought about it. You may lead others especially the newbies who will take your advice so if they took cryptopia and the same problem happens to them, you will be blamed.

It does affect, potential investors are scared that they will be scammed by those.

Cryptopia I think it is less trustworthy ,, a lot of complaints from users about the withdrawal problem and also daa who stuck there ,, but behind the lack of Cryptopia, this exchange also has a pretty good advantage, .Cryptopia can receive tokens there ,. but it would be useless if the funds were stuck in Cryptopia

 bittrex is a scam website - AVOID!- WITH PROOF!! (https://bitcointalk.org/index.php?topic=1954598.0)

 My Bittrex account has been disabled. (https://bitcointalk.org/index.php?topic=2267728.0)

 BITTREX.COM 1.000.000$ disabled (https://bitcointalk.org/index.php?topic=2306630.0)

 Bittrex scams $millions and the community is in denial phase! (https://bitcointalk.org/index.php?topic=2454253.0)

The only that I have not found problem was binance, as long as these exchanges are not regulated, do not have physical office and are not inspected periodically by governments, we will have very unpleasant situations like: " do not answer support tickets ".

I think you and bithodler are derailing this thread and going off topic slightly. If you had even bothered reading my initial post i listed cryptopia as I have used it and again shared my experience on it i.e the two factor authentication is pathetic and they do randomly close off markets. But at least your money will show on there and can be withdrawn safely. Please can you try and refrain turning this into some sort of mud slinging match or conspiracy theory and stay on topic. If you have a different experience to share then please by all means do so.

I read your post and simply not agree with it. If you think because I'm not sharing your opinion means I'm going off-topic, and even derail this thread, you're even more stupid than I initially thought.

Do you seriously think that your single experience is worth more than the hundreds and maybe thousands of people who aren't able to withdraw? Or those who's deposits don't post instantly? Pathetic.

Quote from OP for reference purposes so you can't edit it out later on ~

Yes you have definitely shown your superior intellect with childish personal attacks and yes you have just derailed the thread and pretty much turned it into a mud slinging contest. Congratulations.  😪

On a seperate note yes it is important whether your crypto does get moved or not, quite obviously. I never said anything about timely manner you simply assumed that. I would just be content with it being moved.

Guys, have you heard or try the crex24.com? This is one of the newest but successful exchange from 2017, they offering not only popular cryptocurrencies (Bitcoin, Ethereum, Litecoin, NEM and others), but also rare ones. I tried it last night ( simple designed and user friendly) , that's why I will say it's a 100 percent legit . By the way, this is my first trade in my crypto career, feel good cause no issue or problem encounter.

Instead of using any new exchange why don't you use the already known and reputed exchanges like binance, bittrex etc . In binance the fees is just 0.1% and also easy to operate and open account . Just check out this sites before you trade in new exchanges.

Sometimes I do blame those who will stupidly go and be investing on new, fake and illegitimate sites they don’t even know about and when they get scammed, they start looking for who to blame. Since I got into Bitcoin, I have only been scammed once, I never blamed Bitcoin or anyone, rather I blamed myself for not being wise. Yes, I wasn’t wise and that’s why I got scammed. But this time around, I will never make such mistakes. I only invest in legitimate and well known sites.

Do you really get what I'm saying here? I'm suggesting that also look for those reviews that cause a lot of traders to have problems with cryptopia.

Isn't that right to try and do your own research since someone has suggested that to do so? I know you have good experience using cryptopia but how about those other users who experienced bad with them?

Won't you consider that?

Just like these mate. https://bitcointalk.org/index.php?topic=2673828.0 & https://bitcointalk.org/index.php?topic=3007252.120

And adding my experience, I registered to them and there is someone that is trying to access with my account though I don't have funds there so there's really something wrong with their security. It may not only with them but also with other exchanges.

It's hard to say "Legit" at this world as most of the scam sites were legit before.
I would say that "Legit" site is a site that runs for years, works with regulators and the owners of the site is well known, so in case of a hack the chances for you to get your crypto back is much higher.

Bitstamp and Bitfinex obviously could be counted for the safest exchanges.
People usually say that Binance is the safest exchange, they don't realize that it has been here for months only, and it is based in China which is known to be a risky country to be based in.

I'm not disagreeing with you, the whole purpose of this thread is so people can share their personal experiences and opinions. No one persons opinion is the gospel, yes I did have a bad experience with cryptopia myself in that they closed the btc and ltc markets without warning causing me to lose a bit of money as my paccoin was trapped. I just said that yes there are issues in the markets etc but your money can be deposited and withdrawn it wont just "disappear" like on yobit!

The other thing to clarify is, yes stick to big exchanges if you want to trade in the big coins but, some of the decent alt coin projects are on these smaller shady looking exchanges. This is where alot of the money disappearing acts tend to happen. There is not a whole lot of reviews on these exchanges etc. So it would be good to hear from people regarding these.

Well, something needs to change and cometh the regs. Exchanges may do as they please and for long have little accountability.

This is why we need some level of regulation in the crypto space. I don't think self regulation can work in the long run, in a stand alone way.  There is too much value and interest at stake, plus,  the market have too may big players that can influence the price. So, I think a collaboration with gov to regulate is inevitable. Governments are inefficient, so i don't expect this to happen in 2018. 

Well so far there are lots of exchange platform where we can trade peacefully, such as Bittrex, kucoin, coinbene, binance, cryptopia sometimes also yobit, so these are plaform exchange where I think its a good place to encash your profit though yobit for the eyes of other's here is not a good to trade in due to it is a palce of zombie coins. :)

It's already happening. This month the SEC announced that exchanges will need to register with them in order to be granted a license to actually operate as an exchange. The only confusing bit is what exactly do they consider to be securities. Is it that all cryptos by default are considered to be securities, or just tokens, that I am not exactly sure of. Either way, Poloniex has been granted such a license and is approved by the SEC, which increases their credibility. At least in this case you don't have to worry about the FBI or the IRS to raid that exchange, which can't be said about the majority of the exchanges this market counts. Based on that, Poloniex might be the closest to the 'legitimate' term than all other exchanges are.

Yobit & Cryptopia has the similar case.
As far as I know, they both keep the altcoin wallets in maintenance mode. I named it "technical scam".
They both don't have any issue with btc deposit and withdraw and even with the top coins.

A few days ago, one of my shitcoin got pumped in Cryptopia and I couldn't do anything to sell because both the sites kept the wallet in maintenance mode.
I'm hodling that shitcoin in yobit over a year now maybe.

Still I have a lot of coins in yobit which I mostly bought in 2016. I don't only blame yobit but I also blame the shitcoins devs and also myself for shit decision & pick.

Alright, let's move on.

The fact that there are still traders on yobit are those that doesn't experience any problem with their withdrawal or deposit and they chose to stick but the rest better choose a good exchange.

It's a place of shitcoins where value yesterday is only 1 sats and it will pump up to 1000%.

That's true that not all users get an issue with an exchange, maybe exchanges selectively hodls users funds?
I haven't faced any deposit & withdrawal (not talking about the shit altcoins here) issue with yobit nor cryptopia yet, but I'm very concern about the future, my fingers are crossed.

And also there could be some more reasons why traders still trade on those exchanges, such as some users like the p&d, some may have built a strong relationship with the community, the current fork trend, or some may don't have an option. I fall under no option group because I hodl too many shitcoins in yobit and I just can't easily say goodbye. Just waiting for years to sell with least profit and get away.

1000000000000000% correct.
A few days ago I sold a shitcoin at 2500% after hodling 1.2yrs. That's Insane!

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I have used several exchanges and trading in "Bitfinex" since beginning and so far I found it to be the best one. Never faced any problem in withdrawal or trading or anything.

I used it because I need to trade my token cause of financial issue, that is the only exchange site available to it, other is etherdelta.com (which is too low in value). It's a new token that why it's so limited right now. Maybe in the future I use some famous exchanges site you mention. Thanks mate to your advise.

This is really good thing on this platform that everything which is asked is given more than one replies for the better understanding of all the people who wanted to know about this. While using any of the exchange or the wallet make sure that the securities are updated and there is no bad reviews or negative news about that specific exchange. Your private key must not be shared with anyone for the requirements of the exchange, the terms and conditions must not compromise you and your capital.

Yeah, better to ask first about the exchanges you want to go in, since many of us here are trader and experienced different scenario in the past. Sometimes, I used other email address and password if I'm not sure about the new exchanges, I think about , what if I enter my true email and password, they will possible to see their database and try to log in what I registered and try to steal what I have ( that is possible if the exchanges is a scam ) . What do you think?  

There are many popular exchanges running successfully in the current period.
•   Binance
•   Bittrex
•   Coinbase
•   Poloniex
•   Kucoin
Talking about legitimate exchanges, there is one more coming up which promises to be more secure and improved trading platform. To stay updated, keep checking at http://encrybit.io (http://encrybit.io)

You have a point on that, actually some of the legitimate are scam but they are only few of them. So far, the good exchange platform which I think is really trusted for me was Bittrex, kucoin, coinbene and poloniex.

Yes, I also would add Poloniex. It is actually already a well-known exchange. Another one, which can be used is Kraken. But here I am a bit worried, because from time to time it cannot be accessed. But it allows also the exchange to fiat, but I have never tried.

That was one of the first ones i actually tried registering to! but I was put off simply because they use cloud flare and even that kept failing to load anything maybe out of 10 clicks it loaded a page once successfully so for me personally that was enough to keep me away from their site

Lol. I can understand you but we also have to understand that most of them are fully operational and already being regulated such as bittrex and I am sure they would not want to do anything to jeopardize their position in the market and generally go against the law in scamming users unlike Yobit which you already know it is out there to drain users and one day this is what is going to end up happening.

Bittrex, Binance, GDax, Bitfinex and Bitstamp are still reputable at least for now, but some of them have been operating for a long time now, and that makes them more of a better zone to trade for safety than the others.

We don't know if they have that type of judgement about selective funds for their hodlers / traders / investors.

About those forks, most of the bitcoin forks are listed but I don't know if "ALL" were listed there as I don't have time to check all of it for the meantime.

This can be also a reason why there are many traders who are staying there and they can see a big advantage to use that exchange as a milking place.

I like Binance & Kucoin. Here is an upcoming exchange ICO I believe in because they will be the first arbitrage exchange and their focus is to bring in the masses with their easy to use UI.

https://bitcointalk.org/index.php?topic=3085831.msg31823480#msg31823480

In addition to the above, I would recommend:
Huobi.pro
Gate.io
and a decentralized exchange:
Etherdelta.com

These are very hard to come by. The space is too new too have fully entrenched institutions with a track history of being safe and secure. This simply doesn't exist yet. Coinbase, kracken, Gemini binance are good

Actually still there are lots of other exchanges are also available and mostly the exchanges listed on the coinmarket cap is legitimate so choose which coin you want to buy then go to the coinmarketcap to see where it was listed then buy from there and the only thing you don't have to do is buy or deposit any funds into the new exchanges without seeing the feed backs from others.

I will be better if you add coinbase also to your list because it is one of the most trusted exchange. :D

Coinbase is the wallet cum exchange bro. I do not think that this as a coinbase wallet buddy. I see they do not have a exchange support for various only wallet they are completely able to use through out the world.
Kraken always support and suggest all my friend. Expect few countries in Asia they have to service all over the world bro.
I am using the localbitcoins for long time, I feel this is good at the market and this site's traders always give the good value.

According to my research there are many legitimate exchange that we can use. Such as coinbase the alternative cryptocurrencies of ethereum and litecoin, the largest claiming $20 billion (£15billion) in currency exchanged. It is created GDAX global digital asset in last 2014 and was develop with the high volume of trading.

That's what we are waiting for, we need a high volume of trading to decentralized most of the alternative token now a days. But also, we need to set the thing about the registration fee of new token to this kind of exchange. Which is the common thing to impossible to get all the famous and not so famous token. What do you think folks?

There are other legitimate exchanges like for example coinut it just started some popular altcoins are added like btc,eth,etc,ltc and xrm and other altcoins are still being added but most importantly the company is transparent and the ceo is approachable you can talk with him in twitter or have a selfie if your in singapore because the company it based in there.

Hey OP, a nice list you already have there and I am happy you raised that issue with cryptotpia so that people can know firsthand before even trying anything.

I personally prefer only binance, bitfinex and bittrex while using KuCoin for some alts as well. Also, Yobit is not the only one that is 100% scam, hitbtc sometimes tend towards that area as well, so I would better stay away from them. The other ones you have mentioned though, do not have any good review and in terms of liquidity, I would not even bother except for Huobi that is a Chinese exchange, which I have nothing much to say about that.

The point is legitimacy wont save you from being scammed. When we dig the cryptocurrency history, even the lincenced, most popular and exiled as the best on all exchanges, soon will turnout to be making a great escape. This might give more layers of security, in the long run money will dictates what will be the end of that sites. The grand exit will more profit for them.

Risk is riskier when we use a worst exchanges, but use like Binance or bittrex the much lesser risk the better.

You did not add bitfinex on your list. Even though there has been some issue with the USDT stuff, they are still not a bad exchange to use at all. Bitstamp is also one of the oldest and trusted exchanges for anyone to make use of, so you may need to add it. There are so many exchanges, but so far, I can only confirm those ones I have mentioned for you to add up, including the ones you have mentioned, such as bittrex and binance. I would not even add cryptopia to that list.

Bittrex may be a bad choice if you concern about your anonymity. Binance is relatively new but emerging one. I too suggest binance now a days.

Binance is definitely up and coming, but their growth hasn't been without later consequences. Japan knocked on their door because they are operating there illegally, and that won't continue endlessly. Binance went through one massive winning streak, but luck runs out as you guys probably know too. Binance has been told to halt its activities in Japan until they get their licensing deals settled.

It will likely take several more months to get it done and be able to open up its doors in Japan again. The fault is completely on Binance's side in this case, and there is not even one single particle of blame that should be going towards Japan since it's just enforcing its own laws. Different countries, different laws, which is something that Binance hasn't been able to deal with apparantly, or just blatantly didn't care about. I think both options might hold a certain extent of truth to them, especially if you look at their insane growth. It's just too fast to be completely legal.

it's hard to say whether a exchange is legit really because a lot of scams are trading in exchange so it's hard to say but I still believe that there is a legitmate exchange as long as we know how to look.

The OP's list is a good one. Personally I don't like to trade on Bittrex any more after I found binance and kucoin because of its antique UI, lousy support and most hated high fees. Another good exchange I've been using is gate.io which provides good support and progressively lower fees than Bittrex and Cryptopia. It seems all China origin crypto exchanges are doing exceptionally well. A curious thing considering Chinese government's ban on crypto trading.

Recently hacken team provide a review about the exchange with their tool called hacker proof. There are many exchanges we can do the transaction without any problem and even we can hold our coins in those exchanges.

I think the  scammer and hackers have a thousand ways even if it's a legit exchange. As long as we just do exchange, it will not be a problem. So far i still believe in coinbase.

Yobit itself generally has been a huge scam and I still always wonder till today why people use them. They also have a sister called HitBTC and I would gladly stay away from them both. So far, I have been using bittrex and I have never had any issue with them, and I just added binance as well since some of the coins trading there are not being traded on bittrex and asides from these guys, I do not trust any other exchange for any reason until I can be certain about them. I have used coinexchange, liqui, livecoin, novaexchange, cryptopia in recent times without any issues.

If Yobit and HitBTC are scam ( with enough evidence ), so why they are still allowed to do transaction? I think, its better to shutdown those site immediately for good just to lessen or prevent more damage in crypto community, hoping those victims will learn a lot and share their experience to others.

Has anyone had any experience with CoinExchange, Trade Satoshi, or even Cobinhood ? I am also curious to know about Huobi as yes I am registered on there but a bit skeptical on whether or not my money will vanish like with HitBTC or Yobit

"COBINHOOD is a very good cryptocurrency exchange as well as an underwriting service for ICOs. The platform stands out for its zero transaction fees. It offers a nice amount of trading pairs and has an attractive and easy-to-use interface with a good mobile app plus a reasonably simple verification process.

We recommend COBINHOOD as a good option for those who want to take advantage of no fees, easy trading and lots of bonuses, airdrops and competitions."

Full review on COBINHOOD is here on Blockonomi: https://blockonomi.com/cobinhood-review/

Short version, COBINHOOD is LEGIT GREAT!

Good to know do you have any personal experience regarding the other exchanges mentioned aswell?

i have a list of mine which i do always trading.

KUCOIN
BINANCE
BITTREX
IDAX
HUOBI
IDEX
COBINHOOD
CRYPTOPIA
HITBTC

thats all the exchanges i am using since before.

Cryptopia is good, never had problems with them. Not as tradebot infested as some others.

Instant Exchanges should be in the list too if they just work and save you time and don't ask too many stupid questions.

shapeshift.io
changelly.com

Poloniex and bittrex become my favorite exchange over 4 years.
I have trusted local exchange so let say if those exchange that I mentioned before scam eventually , I still have back up exchange !