Overall, I think crypto currencies are the future and I believe the flexibility of just paying via a QR code is the way forward. No need to carry cash, no limits on where and when you can spend and no chance of a bank collapsing or any of the other problems that come with the current monetary system.

In my opinion the main downside is the volatility of the crypto market. For example, ETH was well over 300$ roughly 2 months ago and now we are nearing 200$. There are people out there who would have taken a massive hit on it. You need to make sure you keep your money spread out and in currencies that you believe are stable as possible.

Hopefully this helps you. Would love to hear other peoples opinions on the same question!

The fact is that we knew they had some bad reviews but from what seemed to be activity on the site we assumed that these were the same as bad reviews from haters. Every exchange has some of these. It was our mistake but either way this is still classified as fraud.

Before I get started let me introduce myself. My name is Rohan. I have recently been working with several coins and currently and working with the Mutex (MUTX) team. We are currently listed on MapleChange and are very happy there and I am proud to say I have a good relationship with the owner (Flavius). We decided it was time for us to list onto several more exchanges as we have been rapidly growing and often having days where we have hit 1-2 BTC of volume (a record for our coin). Recently we paid the fee for BiteBTC in Bitcoin. It was over 1 BTC which is extortionate when you know that they are also earning from trading fees. In comparison to TradeOgre and several other exchanges their fees are very similar so we decided to proceed and pay the amount that they requested. While we were in the process of paying the fee their team was actively communicating with us. Once we had paid the fee it took them almost 1 and a half weeks to reply to us and get our coin onto their site. Yesterday I received a message telling me that the coin had been listed and was ready for use. Today after reviewing the site the deposits and withdraw button has been removed. I thought maybe we had done something wrong so I have been speaking to members of the community and owners of other coins. It turns out I am not the only one who has faced this problem.

Let me divert for a minute and tell you about another problem with have had with BiteBTC. While the deposits button was available users deposited Mutex into the exchange but were left unable to trade it. When they attempted to withdraw it they were told they must verify their identity. Roughly 4 users proceeded to do this. All 4 have received no response. When I went fishing in other communities and online it seems that people have waited 3-4 months for verification at max before being rejected. I can't find anyone who has been verified.

Back to the main topic now. I have spoken to several coin owners (4 to be precise) they have all found that they are in the same situation with no response. One of the coins has waited since just before May of 2018 and has had no response since they ran into the same situation.

I honestly hope this is some issue with staffing or their systems at the moment and not a scam. If BiteBTC is a genuine exchange and I have made a mistake then I will publicly apologise but for now I would like to warn users to avoid BiteBTC and to make sure no more coins have their money stolen. If the situation is not resolved within 28 days I and the owners of 4 other coins will be taking legal action to recover our payments from this fraudulent site.

Some more links to coins and posts proving BiteBTC seems to be a scam:
https://bitcointalk.org/index.php?topic=4612714.20
https://theicojournal.com/exchange-scam-bitebtc-makes-false-claims-rips-off-coins/
https://bitcointalk.org/index.php?topic=4592558.0