care2yak (OP)
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February 06, 2018, 07:40:53 AM |
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Bitcoin price might be taking a deep dive and we can just speculate about when a rebound will occur.
With this dip, how would exchanges fare? Would this cause exchanges to declare bankruptcy? Which of the top exchanges do you think, is stable and can withstand a really deep bitcoin price dive?
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OmegaStarScream
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February 06, 2018, 08:00:41 AM |
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All the exchanges you mentioned will as they existed for years and crashes occurred before except for Binance which is a few months old but they have no USD, I doubt they need any liquidity at this point as they have thousands/millions of users already and trading is happening between users and they can always catch up by the withdrawal and trading fees etc.
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care2yak (OP)
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February 06, 2018, 08:23:17 AM |
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All the exchanges you mentioned will as they existed for years and crashes occurred before except for Binance which is a few months old but they have no USD, I doubt they need any liquidity at this point as they have thousands/millions of users already and trading is happening between users and they can always catch up by the withdrawal and trading fees etc.
So you're like saying, those on that list can be trusted with our holdings, even if price takes a plunge?
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timerland
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February 06, 2018, 08:46:14 AM |
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Bitcoin price might be taking a deep dive and we can just speculate about when a rebound will occur.
With this dip, how would exchanges fare? Would this cause exchanges to declare bankruptcy? Which of the top exchanges do you think, is stable and can withstand a really deep bitcoin price dive?
All exchanges do is simply provide a service where people are depositing and withdrawing from their platform. They handle the trades and all that and take a cut from each of the transactions that people take on their site. They take on absolutely 0 forex risks if they are running a full reserve, which is what the exchanges are supposed to do. The only reason why they would be bankrupt would be that they are running a fractional reserve, and have speculated on bitcoin going up without the permission of the users. Otherwise, they won't be affected whatsoever by the crash of bitcoin, apart from a dive in fiat revenue.
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Barbut
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February 06, 2018, 09:33:13 AM |
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I have +500$ on poloniex in several altcoins. I'm there for more then a year now and for me poloniex is very stable exchange site. You are right when you say that in this times when prices are going deep down some exchanges can declare bankruptcy or hack, we never know. I'm lazy to make some wallets for coins I have so I trust poloniex, and I will continue to trust. Selling now is not an option for me, only converting coins I have in bitcoins, eth and ltc and then sending that to wallet. But 500$ isn't so big amount, so I will risk probably.
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OmegaStarScream
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February 06, 2018, 10:07:06 AM |
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So you're like saying, those on that list can be trusted with our holdings, even if price takes a plunge?
I'm not saying that. You shouldn't trust an exchange for your holdings regardless of the price stability, always control your private keys.
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1Referee
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February 06, 2018, 12:49:37 PM |
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I'm lazy to make some wallets for coins I have so I trust poloniex, and I will continue to trust.
That's pretty much a retarded form of logic. It doesn't cost much effort to set up a desktop based client, or a hardware wallet offering multi coin support. In case of Bitcoin you can even use one of the the more popular mobile wallet clients where you actually own your private key. Poloniex is an exchange, and not an online wallet service. It's purely meant to have your coins there for trading purposes, where once you're done trading, you simply withdraw all your digital assets. Don't complain when the exchange stays offline for a couple of days, or takes a run with your coins - accept your fate. No private key means no control over your funds, it's that simple.
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maeusi
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February 06, 2018, 02:16:14 PM |
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As already mentioned in preposts. None of the exchangers are "stable"/secure. The best is it, to use at least five exchangers and keep the majority of funds in wallets. If there would be a need of exchanging bigger funds, devide them in as many parts as possible in dependence of transfer fees.
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bhadz
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February 06, 2018, 02:43:46 PM |
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So you're like saying, those on that list can be trusted with our holdings, even if price takes a plunge?
Are you trying to ask whether those exchanges are good for holding big amount of crypto's you have? If you are only planning to hold better to take a wallet that's reliable and you have assurance of safety. Prices are low now but if you plan to use exchanges for keeping your holdings there better that you shouldn't do that. Exchanges are good when you are about to take profits from your holdings but if you plan nothing but to hold buy an hardware or follow Omega's tip of having the private keys.
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BitcoinGirl.Club
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Bitcoingirl 2 is downloading 💓
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February 06, 2018, 03:17:49 PM |
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From what OP has listed i have used binance with no problems which is also one of the most used exchanges as of the first quarter of 2018 (imo) but with change of regulations going on almost everywhere its important we check that the exchange you choose to use is not affected by these adjustments as funds might get frozen until we comply with there T&Cs
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tora
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February 07, 2018, 07:42:23 PM |
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The price of bitcoin does not have an effect on the stability of an exchange. It is turnover,ie the number of trades, that is important as that is where exchanges make their profit.
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swogerino
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February 07, 2018, 09:15:07 PM |
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After the Mt.Gox saga which was the first exchange to file for bankruptcy and the owner of that site is in jail in Japan not a single exchange can be stable for an unlimited time. As for bitcoin price crash Poloniex is able to withstand it without problems because they make a lot of money only from the fees of the daily transactions occurring there and this money is more than 2 million dollars daily. The other exchanges too are stable in this regard but as to trust them with your coins that is not a very smart thing to do. Always be in control of your private keys because if you don't own your private keys , you don't own any bitcoin.
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deep_thought
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February 07, 2018, 10:50:49 PM |
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Bitcoin price might be taking a deep dive and we can just speculate about when a rebound will occur.
With this dip, how would exchanges fare? Would this cause exchanges to declare bankruptcy? Which of the top exchanges do you think, is stable and can withstand a really deep bitcoin price dive?
Lets hope none of the exchanges declare bankruptcy, because that could affect all of us. I dont think any of the exchanges you mention would have a problem because bitcoin price dived. So theres no reason to worry. Expect, Bitfinex...
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h0lybyte
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February 08, 2018, 07:56:25 AM |
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I am not sure about which exchanges can be stable whenever there is crash in bitcoin, as some members have experience with different exchanges, they suggest based on their trading transparency with them. However, to maintain security of your funds, you must use specific wallet like Trezor, Ledger as the exchanges may not be secure enough
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drmarcobelli
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February 08, 2018, 03:51:10 PM |
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Binance and only Binance. They operate for like 7-8 months and already the top crypto exchange. So, they are probably doing some things right. Screw Bittrex/polo..
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pugman
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dogs are cute.
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February 08, 2018, 04:54:03 PM |
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This is not the first and last dip that we have seen. Exchanges love it when markets crash. They make easy buck due to panic selling because they need to have cryptos for the future, they take opportunity for such. Bitfinex I'm not sure why they ruined their reputation down to the drains but other than that exchange, every other exchange is ok at least in terms of stability.
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Catmony
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February 08, 2018, 05:17:29 PM |
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With this dip, how would exchanges fare? Would this cause exchanges to declare bankruptcy? Which of the top exchanges do you think, is stable and can withstand a really deep bitcoin price dive?
Exchanges don't sell/buy coins for themselves. They are just intermediate platform where sellers can sell their coins and buyer can buy coins with their fiat. So even when price will be at 1$ exchanges can run like normally and they will keep earning same % of trading fee. Exchanges will only declare bankruptcy when they get hacked.
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arpon11
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February 08, 2018, 08:19:46 PM |
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I will said coinsbase will actually stand the clash as the amount of capital there holding is large and in the event of clash you will need such amount to be able to pay the investors or traders.bitstamp can also hold a big dump and I have been enjoying this exchanger platforms for long time. If Bitcoin have to remain viable in the world economic then these two exchange including poloniex has to remaining strong.
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makngeerwork
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???
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February 08, 2018, 11:22:52 PM |
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Bitcoin price might be taking a deep dive and we can just speculate about when a rebound will occur.
With this dip, how would exchanges fare? Would this cause exchanges to declare bankruptcy? Which of the top exchanges do you think, is stable and can withstand a really deep bitcoin price dive?
Actually its hard to see and tell on which of the exchange are stable since if you look at the binance right now where supposed to be strong exchange you will find out that its so tricky to stick on what you have think stable. So If I where you just trade what you can afford to lose and always learn to secure your profits if that one came so that if exchange scamming will came you will not be a butt hurt kid seeking for justice.
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leowonderful
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Bitcoin FTW!
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February 08, 2018, 11:24:55 PM |
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I've been using Binance recently and I've had zero issues with them. They're relatively new so it's hard to judge whether or not they're truly stable yet, but in the months I have traded with Binance things have been moving smoothly.
By volume they're also one of the largest exchanges, and there's no need for verification if you withdraw less than 1BTC daily IIRC. As a reminder, remember to never keep your money on exchanges. Whenever possible, withdraw your coins to an address you own (preferably to a hardware wallet) for maximum security.
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