This is my own personal observation and opinion.
People think all exchanges are created equal and do the same things. They are not.https://www.blockchaintransparency.org/reports/A few differences can be seen where a few exchanges such as Bittrex, Kucoin, Cryptopia, and Bithumb have much higher unique visitor counts than their volume would expect to show. This gives further evidence of their accuracy as they could report much higher volume. Instead they appear to be accurately reporting that their users spend less per session. These exchanges trade many low cap coins and with most of the big volume spenders on high market cap coins these numbers fall in line with the accuracy of their reporting. Cryptopia, well known for having low liquidity on many of its coins naturally has one of the lowest dollar amount traded per visitor per day inside the top 50.
There are distinct differences between exchanges. One of the distinct difference between Cryptopia and most other exchanges is the sheer number of coins they have listed.
They are one of the top exchanges for both promising newcomers and shitcoins. In terms of coin trading volume - they are huge. The coins traded are low value so the value traded (market cap in $) is much lower than some other platforms.
But the amount of transactions that take place on their trade engine and the volume of coins traded is huge.
Small new coin networks with new blockchain and wallet code tends to cause more problems than established coins. Cryptopia is the exchange that can often make or break how a coin is going to do in the big wide world. I have personally benefited from buying coins there that were unknowns and now are considered mainstream.
Trading value (market cap) is not the only factor to look at. Much of the market cap on some exchanges is fake volume created by bots operated by an exchange and incentive low or no fee trading by coin developers themselves.
Recently
hacked exchange Zaif is an example on how due to a
system glitch it sold more bitcoins than there are bitcoins in existence.
Then there is the Bitfinex tether issue:
https://medium.com/@eklavya9/the-tether-bitfinex-scam-might-be-a-lot-more-elegant-than-what-most-people-think-and-might-hurt-54616255e7c1That's why everyone embraced binance so much.
The exchange itself was built on a much more advanced stack and doesn't even bother with fiat.
That's why it runs so smoothly.
Binance is an exceptional platform with 382 markets and the lead in the value of volume traded. They are a relative newcomer and had a lot of funds to start their platform with in comparison to some of the other exchanges. It now turns over $900 million daily.
Their ICO raised a lot of funds and they were able to take advantage of the 2017 crypto boom.
But try getting an new coin listed on Binance....
Cryptopia is not a scam.
They just have outdated servers that constantly cause coins to not be credited properly.
This has been a problem with all of the older exchanges or exchanges that deal with fiat.
Cryptopia has 697 coin markets and turns over $4 million daily. In early 2017 they were run by 2-3 part time staff and volunteers. Now they employ a team of over 100 staff. During the peak of December 2017 / January 2018 their platform was struggling with the sheer demand from the massive increase in users - as a result they trained more staff, set up a UK office, improved their back-end software, changed their management structure and made numerous other improvements.
After taking advantage of the 2017/2018 crypto boom they upgraded a lot of their infrastructure and as they say - the proof will be in the pudding.
The coins not being credited are not due to outdated servers - the primary issue is with the coin wallet code - code developed by the coins themselves.
The coins that cause issues are generally the same coins due to
outdated leveldb libraries being used and other issues due to the coins being cloned from outdated source code. Why are there hardly any issues with BTC, LTC and Doge that have the most volume ? Because the wallet code is better.
Running a personal wallet with a few hundred transactions is not the same as running an exchange wallet on an enterprise scale with hundreds of transactions hourly or daily. It results in dust issues and issues with the wallet code not coping with the number of stored transactions. Resulting in slow syncing and even wallets not wanting to fully sync at all.
Actually, almost all of the big name exchanges are fading into existence.
Poloniex, kraken, Cryptopia, hitbtc, etc. just can't keep up.
In order for them to update their exchange, they would literally have to shut down all trading and take weeks to a month to upgrade everything.
Yeah, I don't see them doing that.
A lot of the large exchanges have concentrated on becoming legitimate trading platforms in the eyes of the authorities of the countries that they reside in.
Crypto is still in the infancy of the growth and regulation. Platform security, Hot wallet strategies, Government regulation, Anti Money Laundering rules and Taxation issues are all eventually going to catch up with exchanges that don't take it seriously.
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