What's the biggest problem with EXCHANGES right now?

[janbrzeski]

The main and the biggest problem for me I think is their customer support SUCKS. They always do, they don't reply to you or even take days to reply to you just saying "we will look into that matter". WTF They replied after few days and you will have to wait another few days to get resolve.

Lol, a few days is still good haha

I wonder why? I mean, they surely don't lack the financials to hire more support personel. Yes, there are probably hundreds/a few thousand tickets per day, but what's the problem with ramping up their customer support to eg. 100 people?

I run an online business with 25 virtual employees and hiring the 25 just by myself was no problem at all.

Especially when you consider that 'customer support' isn't exactly the most demanding position in the world...

[Tactical Genius]

Well the issue with poor support isn't usually entirely their faults.We have alot of people trooping into cryptocurrency investments nowadays and virtually don't know how to go about things and so end up messing up and will require support tickets.I think the way forward for exchanges is to have more support staff after all they make alot of money and can afford to pay more workers.

[reda]

Well the issue with poor support isn't usually entirely their faults.We have alot of people trooping into cryptocurrency investments nowadays and virtually don't know how to go about things and so end up messing up and will require support tickets.I think the way forward for exchanges is to have more support staff after all they make alot of money and can afford to pay more workers.

Nowaday transaction fess is to high. But you will know the transactions process. You will check the trades costume feedbacks before you will start the trading process. Some trades not time to transaction process competed. So you will check then you will process. Trading process time is important for the transaction. So befor you will check it. Any trading you will check for the process.

[TedMosby]

So far, this is the problem that I got from almost all of crypto exchange market that I joined.
1. bigger order, bigger fee.
2. lack of support (slow response, etc).
3. server (when some coin on its hype and many people start to trade it at the same time, it will crash).
4. and withdrawal time is not as fast as when we deposit into the exchange. just why?

[creeps]

So far, this is the problem that I got from almost all of crypto exchange market that I joined.
1. bigger order, bigger fee.
2. lack of support (slow response, etc).
3. server (when some coin on its hype and many people start to trade it at the same time, it will crash).
4. and withdrawal time is not as fast as when we deposit into the exchange. just why?

This thing covers everything, I also experience this problem some time and its make me feel bad. Most of the exchanges are still not safe up to date since a lot scams are still happening. I am hoping that exchanges will continue to improved their services since this market is about to boom in the next few years. Better to be more competitive because a lot of exchanges will be made for good.

[eternalgloom]

A lot of these problems are currently caused because Bitcoin got a lot more popular in these last couple of months.
I think that a solution would be for exchanges to temporarily close registrations until they can handle the influx of new users.

Another thing I'm a bit worried about is that some coinbase do not get their deposits credited, even after waiting months for it and contacting support several times.

[janbrzeski]

A lot of these problems are currently caused because Bitcoin got a lot more popular in these last couple of months.
I think that a solution would be for exchanges to temporarily close registrations until they can handle the influx of new users.

Another thing I'm a bit worried about is that some coinbase do not get their deposits credited, even after waiting months for it and contacting support several times.

I am yet to receive any kind of ticket reply from CoinBase... and waiting to have my limits increased since October 3rd (with zero replies so far)

[saif.shaikha]

My biggest problem with crypto exchanges are high cost in withdrawal transactions. As exchanges are considered to be susceptible to attacks I will feel safer if my investments are in my wallets. Having said that, transaction fees in general should come down if crypto currencies trading is to pick up pace.

[janbrzeski]

My biggest problem with crypto exchanges are high cost in withdrawal transactions. As exchanges are considered to be susceptible to attacks I will feel safer if my investments are in my wallets. Having said that, transaction fees in general should come down if crypto currencies trading is to pick up pace.

I dont think they can do much about it (I am guessing you're mainly talking about BTC) - considering that a BTC transaction costs something like $30-40 now (wtf) they need to charge an appropriate fee to cover that

[WalkerIVIV]

My biggest problem with crypto exchanges are high cost in withdrawal transactions. As exchanges are considered to be susceptible to attacks I will feel safer if my investments are in my wallets. Having said that, transaction fees in general should come down if crypto currencies trading is to pick up pace.

The transaction fees will be straight with the price of the currency itself, Remember when ripple cost about less than $0.01 and the fees was really cheap but ripple growth $3.4 for each coin and that makes the fees become ridiculous at all. But as long as the exchange site still able to manage their users and that will be fine

[ClarksonI]

The biggest problem is they are not decentralizing!

[sheenshane]

My biggest problem with crypto exchanges are high cost in withdrawal transactions. As exchanges are considered to be susceptible to attacks I will feel safer if my investments are in my wallets. Having said that, transaction fees in general should come down if crypto currencies trading is to pick up pace.

The transaction fees will be straight with the price of the currency itself, Remember when ripple cost about less than $0.01 and the fees was really cheap but ripple growth $3.4 for each coin and that makes the fees become ridiculous at all. But as long as the exchange site still able to manage their users and that will be fine

That's a part of a business in crypto exchange site with have a high fees, but that's normal have a fees in every transaction.
Behind that transaction fees you're money that putting on trading will be safe as well.

So far, this is the problem that I got from almost all of crypto exchange market that I joined.
1. bigger order, bigger fee.
2. lack of support (slow response, etc).
3. server (when some coin on its hype and many people start to trade it at the same time, it will crash).
4. and withdrawal time is not as fast as when we deposit into the exchange. just why?

I agreed with you, yes! these statement above are true mostly exchange site now like that, they are protecting you're money from different hacker if ever.  I think high fees are worth it of it.
But as what i have said that is okay as long as you're money are safe in their as wallet as well.

[13abyknight]

Exchanges are highly troubled at the moment with various issues, the first and most important one being security. Lately, a lot of exchanges have been targeted by hackers who in many cases have successfully breached past the exchange's security measures into the hot wallets, eventually emptying them. Every exchange needs to step it up and add more layers of security to its website.
Another issue lately has been transaction fees as withdrawal transactions are stuck in the mempool for a pretty long time because of lack of fees used while sending. Since most exchanges already charge a fee for withdrawal, output transactions should have optimal fee for fast confirmations.

[JoMarrah Iarim Dan]

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.

[ClarksonI]

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

[emmanborromeo67]

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

[vasrasus]

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.

[Insanerman]

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.

[steveabrahams]

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.

[janbrzeski]

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