Why does Cryptsy get so much hate?

[Bizmark13]

I've always found Cryptsy to be a very reliable exchange with quick deposits and withdrawals. I've heard that they had some issues regarding NXT withdrawals which would be delayed for days but I believe the problems were attributed to the fact that NXT's code is very different from Bitcoin and most other altcoins. I've also heard that this problem has been fixed although I continue to use other exchanges like Poloniex for anything NXT-related.

Other than that, the only other criticism I can think of is that they have a lot of low-quality altcoins (or more specifically, scrypt coins based on Litecoin with little innovation) which were popular in 2014. The fact that they stake PoS coins and receive profits from doing so is something that all other exchanges do and isn't unique to them.

I've heard them being referred to as "Craptsy" which is puzzling because I can't think of any other exchange which gets as much hate and criticism as Cryptsy does. Also, it's rare to find an altcoin exchange which hasn't even been hacked at least once in its life so they must be doing something right security-wise. Can anyone shed some light on why Cryptsy gets so much hate around here?

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[rammy2k2]

I personally had only problems with them ; u i can say, are one of the few lucky ones.
I will never use "Craptsy" again.

[Bizmark13]

I personally had only problems with them ; u i can say, are one of the few lucky ones.
I will never use "Craptsy" again.

So I take it that delays with depositing and/or withdrawing coins were the main problem then?

I usually stuck with trading the major coins like PPC, LTC, DOGE, and BTC on Cryptsy and only deposited BTC so perhaps my experience with them was better compared to others.

[corona]

Cryptsy is notorious for delay in deposits when a coin is dumped in other exchanges. They halt the deposit citing bullshit reason. They pump and dump dead coins.  They were the first altcoin exchange but for unknown reason they are not interested to upgrade their software. Before mintpal, bittrex they were the monopoly and controlled all the pumps. The only good thing is they do not drop the dead coins easily even when there is no volume.

[Bizmark13]

Cryptsy is notorious for delay in deposits when a coin is dumped in other exchanges. They halt the deposit citing bullshit reason. They pump and dump dead coins.  They were the first altcoin exchange but for unknown reason they are not interested to upgrade their software. Before mintpal, bittrex they were the monopoly and controlled all the pumps. The only good thing is they do not drop the dead coins easily even when there is no volume.

So what coins were these then? If the problems with deposits only affected smaller coins (since smaller coins are probably easier to pump and dump) then I suppose explains why my experience with them was pretty good.

[BitJohn]

Cryptsy is notorious for delay in deposits when a coin is dumped in other exchanges. They halt the deposit citing bullshit reason. They pump and dump dead coins.  They were the first altcoin exchange but for unknown reason they are not interested to upgrade their software. Before mintpal, bittrex they were the monopoly and controlled all the pumps. The only good thing is they do not drop the dead coins easily even when there is no volume.

The number one reason we get bad exposure on deposit times is the way our security algorithm works. You'll find that old timers and verified customers rarely complain where a brand new account with no history will have delays.

Other times such as the big DOGE rise to power the DOGE wallets and our system didn't like the 200 tx's per block all coming to the Cryptsy wallet causing issues we had to rewrite how we handled that.

As far as upgrading we are consistently upgrading and working to roll out an entirely new backend and UI. Unlike some competitors we wont roll this out before its ready and risk losing our customers funds.

Best reason to use Cryptsy were here to stay great security and great people working here. If you tried us before give us a try again. If you dont like the security delays get verified its fast and free gives you FIAT markets etc.

[logocreator]

Security is ok, but i noticed that Cryptsy makes voting, earns a lot of btc with that, and there is still coins that has 6 or more btc and waiting to be listed. But there is coins that goes to Cryptsy instantly without voting. This happens all the time which tells me several things:
-There is no worth of voting on Cryptsy, waisted btc and it is not ethical. Honest hardworking poor coin will never get there.
-Coins are not treated properly. Some of them are listed instantly, some of them never, no matter that coin team has been proven. = Discrimination
-Good coins are dying because they are not listed and offered to bigger audition. Only scams and pump survives.
-We do not need entirely new backend and UI, we need new frontend and UI, now it looks like website from 20th century. sorry.
-Slow deposits and withdrawals are something that is not common in the world of stock markets. If i do not get money on time i missed all that i was intend to do. Transfer of funds for nothing, just shorter by fee.
There is more but i am lazy now.

[Danz0r77]

I've personally never had a problem using Cryptsy.. apart from their API. That sucks.


Otherwise.. they are reliable. Their trading engine just works. Deposits and withdrawals can occasionally have delays but it's to be expected with the vast number of sh*tcoin wallets that they try to accommodate.

As to the original question, I'm not sure why they get so much hate. I think early on the site was incredibly slow, and this probably contributed.

It's probably more down to this though..
They were the biggest exchange for a long time, and every new coin they added was pumped almost instantly, then dumped just as quickly, and this is what mostly gave them the bad rep. Nowadays, without the altcoin flash and crash it's a very stable exchange.

[Lorenzo]

Cryptsy is notorious for delay in deposits when a coin is dumped in other exchanges. They halt the deposit citing bullshit reason. They pump and dump dead coins.  They were the first altcoin exchange but for unknown reason they are not interested to upgrade their software. Before mintpal, bittrex they were the monopoly and controlled all the pumps. The only good thing is they do not drop the dead coins easily even when there is no volume.

The number one reason we get bad exposure on deposit times is the way our security algorithm works. You'll find that old timers and verified customers rarely complain where a brand new account with no history will have delays...

...Best reason to use Cryptsy were here to stay great security and great people working here. If you tried us before give us a try again. If you dont like the security delays get verified its fast and free gives you FIAT markets etc.

Are the delays due to the risk of double spending attempts? Since the transactions take place on the blockchain which is publicly verifiable, that's the only difference I can think of between old/verified accounts and brand new ones.

-We do not need entirely new backend and UI, we need new frontend and UI, now it looks like website from 20th century. sorry.

Isn't the UI part of the front end though? As far as criticism of Cryptsy goes, their UI has never really bothered me.

I've personally never had a problem using Cryptsy.. apart from their API. That sucks.


Otherwise.. they are reliable. Their trading engine just works. Deposits and withdrawals can occasionally have delays but it's to be expected with the vast number of sh*tcoin wallets that they try to accommodate.

As to the original question, I'm not sure why they get so much hate. I think early on the site was incredibly slow, and this probably contributed.

It's probably more down to this though..
They were the biggest exchange for a long time, and every new coin they added was pumped almost instantly, then dumped just as quickly, and this is what mostly gave them the bad rep. Nowadays, without the altcoin flash and crash it's a very stable exchange.

I've always wondered why Cryptsy never seems to delist coins that virtually everyone else has forgotten. Many of the old scrypt clones from the animal coin craze last year are still there despite having very little to no trading activity.

[BitJohn]

Cryptsy is notorious for delay in deposits when a coin is dumped in other exchanges. They halt the deposit citing bullshit reason. They pump and dump dead coins.  They were the first altcoin exchange but for unknown reason they are not interested to upgrade their software. Before mintpal, bittrex they were the monopoly and controlled all the pumps. The only good thing is they do not drop the dead coins easily even when there is no volume.

The number one reason we get bad exposure on deposit times is the way our security algorithm works. You'll find that old timers and verified customers rarely complain where a brand new account with no history will have delays...

...Best reason to use Cryptsy were here to stay great security and great people working here. If you tried us before give us a try again. If you dont like the security delays get verified its fast and free gives you FIAT markets etc.

Are the delays due to the risk of double spending attempts? Since the transactions take place on the blockchain which is publicly verifiable, that's the only difference I can think of between old/verified accounts and brand new ones.

-We do not need entirely new backend and UI, we need new frontend and UI, now it looks like website from 20th century. sorry.

Isn't the UI part of the front end though? As far as criticism of Cryptsy goes, their UI has never really bothered me.

I've personally never had a problem using Cryptsy.. apart from their API. That sucks.


Otherwise.. they are reliable. Their trading engine just works. Deposits and withdrawals can occasionally have delays but it's to be expected with the vast number of sh*tcoin wallets that they try to accommodate.

As to the original question, I'm not sure why they get so much hate. I think early on the site was incredibly slow, and this probably contributed.

It's probably more down to this though..
They were the biggest exchange for a long time, and every new coin they added was pumped almost instantly, then dumped just as quickly, and this is what mostly gave them the bad rep. Nowadays, without the altcoin flash and crash it's a very stable exchange.

I've always wondered why Cryptsy never seems to delist coins that virtually everyone else has forgotten. Many of the old scrypt clones from the animal coin craze last year are still there despite having very little to no trading activity.

Because that is someones investment..... Just because its not the hot thing. Delisting coins because they have lost volume should not be decided in a week.... Maybe once a year or three...

[mullick]

I never understood it either. We have had our problems but we always do all we can to correct them

It drains ones spirit. But we keep going.

As far as staking. When I redesigned our infrastructure a few months ago I stopped almost all of the hot wallets from staking. It takes up too many cpu cycles. And we were not tracking any coins gained from it. Its just nice to see a larger wallet balance than is owed to our customers.

On another note. Just 12 days until Cryptsy's 3rd Birthday

[Nakitxu]

Maybe is because they put as valid USD withdrawal method Theter, but... does not work... simply if you use it your mone goes away....

They know tether is ot working but, the web still have the option for use enabled.

More than 4 days waiting an explanation from suport and counting, 3 attempts to use tether for make an withdrawal failed (and the money lost in transaction)

Maybe this is my reason for hate them.


From his own web:

CRYPTSY REFUND POLICY

All trades are final. Funds on balance may be withdrawn at any time.

Well... this is not true. I cant withdraw my money...

[BitJohn]

Do you have a ticket #? Ill see what I can find out for you.

[Nakitxu]

Do you have a ticket #? Ill see what I can find out for you.

Of course, is: #188560 stils open 7 days now without any reasonable answer.

After 6 days of delay, the withdraws worked out, but the next two I made... failed again.

It seem like Cryptsy 'open the valve' and everything works as normal, but then Cryptsy 'closes the valve' and tether withdrawal stops, bloking the money for 5 or 6 days.

In this conditions... tether is slower than a normal bank wire transfer.

[mullick]

Do you have a ticket #? Ill see what I can find out for you.

Of course, is: #188560 stils open 7 days now without any reasonable answer.

After 6 days of delay, the withdraws worked out, but the next two I made... failed again.

It seem like Cryptsy 'open the valve' and everything works as normal, but then Cryptsy 'closes the valve' and tether withdrawal stops, bloking the money for 5 or 6 days.

In this conditions... tether is slower than a normal bank wire transfer.

Our issue with tether has just been keeping wallet filled. Most of our Withdrawal methods for USD have been removed for various reasons. So users with a USD balance are using tether to withdrawal it.

Which simply means we need to buy more tether which we have but it can still take a few days. We purchased plenty and withdrawals should be moving tomorrow.

We apologize for the inconvenience it has caused.

[Nakitxu]

Our issue with tether has just been keeping wallet filled. Most of our Withdrawal methods for USD have been removed for various reasons. So users with a USD balance are using tether to withdrawal it.

Which simply means we need to buy more tether which we have but it can still take a few days. We purchased plenty and withdrawals should be moving tomorrow.

We apologize for the inconvenience it has caused.

Bad provisioning in the wallet, I can live with that, but not for 10 days when my money is blocked/missing and no answer yet from support people.
This is the standard response I get after 10 days:

Hello Ignacio,

We apologize for the inconvenience.
I have escalated this ticket to our specialist team to double check your transaction.
Please give this some time as our support team will respond in order of tickets received.
We will keep your ticket open and definitely will keep you posted.
Thank you and have a great day.

Yeah a great day, but not thanks to Cryptsy...

[Nakitxu]

We purchased plenty and withdrawals should be moving tomorrow.

3 days after... everything is in the same state...

[grzem]

Do you have a ticket #? Ill see what I can find out for you.

Did you see my tickets maybe?
Those with half year history, I still wait for your answer.

[MystPhysX]

Back before Bittrex/Mintpal there were the issues with DOGE, negative balance, really slow CS etc. Losing out on a 15BTC trade because their wallet had issues was the last straw for me and I moved away.

They may have improved now but I haven't traded there in such a long time.

[Nakitxu]

I just start using Cryptsy to shell my BTCs because they have integrated Tether to make withdrawals, but... its a fucking scam and, let me tell you, is a very bad image for the Tether system.
Tether works for me in Bitfinex and Poloniex... like a clock, money tranferred in about 15 minutes, but here... is a scam.

They have blocked my money (USD) for 10 days now, and the support service does not give me any reason, just asking me to wait and wait....

Is not a real exchange site... is a scam dressed as a serious bussiness.

Is not acceptable that any bussiness block my money for 10 days without any good reason an without any explanation.

This is my withdrawal hystory:

http://imagize[Suspicious link removed]ageshack.us/v2/640x480q90/633/9b4SkM.png

There is more than 1000USD blocked in two Tether transactions, since day 02/06/2015 without any explanation.
This people dont have the money in their wallet for make the transaction... and give me none satisfaction, explanation or nothing else... just an unwanted waiting and meanwile I'm thinking they are in Bahamas with my money...

This is a capture of the response from support service:

http://imagize[Suspicious link removed]ageshack.us/v2/640x480q90/537/xnZfZa.png

Now, anyone could tell me if the response from "Marjorie" is from a real person or from a robot?
I get the same response several times, asking me for more time... but without any reason or explanation about the problem.
Marjorie, If you're a real person: Know that your job performance stinks, and you should know that you can be replaced by a PHP script programmed in three minutes ...


This is a site to avoid... they have no real service support, no consideration with the money of their customers and absolut no respect.

If you are planning to use some insignificant cryptocurrency without any warranty, trading cents... Crypysy is your place... but, if your intention is deal with a real and well based bussiness, trading with real money, or real quantities of cryptocoins, better choose another... this people sucks, sucks in service support, in respect to the customer and sucks in the real daily basis of keep everithing working as should be.