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Question: Which of these exchanges can withstand a bitcoin price crash?
Bitfinex
Binance
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Author Topic: Stable exchange?  (Read 129 times)
leowonderful
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February 08, 2018, 11:24:55 PM
 #21

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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February 08, 2018, 11:33:26 PM
Last edit: February 08, 2018, 11:44:12 PM by ralle14
 #22

Those exchanges listed on the poll looks stable enough to handle a crash/dip.  If bitcoin's price starts to dip in the next couple of days  it won't make them go bankrupt where they have to stop operations. I think all of them made more than enough money to cover their losses if things go south with bitcoin.

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.
Right. Just because an exchange can handle losses that doesn't mean they could be trusted with money. No exchange is safe from getting hacked.



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onebtcforlife
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February 09, 2018, 09:27:20 AM
 #23

Most of the exchanges listed above are stable one but the things here is no exchange is perfect in some cases. Better always consider the exchanges who are always accurate in the market in terms Deposits, Withdrawal, and Support Systems.
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February 09, 2018, 12:37:57 PM
 #24

I'll eat my words lol
Even Binance is not that stable. Being down for more than 24h is just ridiculous.
Pretty sure people that didn't backed out their orders, lost some cash.

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February 09, 2018, 12:57:29 PM
 #25

Better always consider the exchanges who are always accurate in the market in terms Deposits, Withdrawal, and Support Systems.

If that's your base requirement (which in normal times is a very decent indicator), then you can write off basically all top tier exchanges. All exchanges suffer from issues concerning deposits, withdrawals, verification taking ages to be approved, etc. One thing they have all in common, is that they suck big time in terms of their support. If it was just one exchange not being able to catch up properly, then you could blame it for being incompetent, but it's the entire economical ecosystem badly struggling to move forward. In other words, this economical ecosystem is not ready to deal with this many users. For that reason it's perfectly understandable that the entire crypto market has taken a few large steps back in terms of its price. If you want to be valued high, you should reflect that, and in case you can't reflect that, it won't be sustainable and the market corrects, which happened.

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February 09, 2018, 01:40:29 PM
 #26

I'll eat my words lol
Even Binance is not that stable. Being down for more than 24h is just ridiculous.
Pretty sure people that didn't backed out their orders, lost some cash.
Yes this is the first time i experience that such maintenance in binance that was too long, i feel i lost more profit because of that because i cant control my coins and i see that many coins are now dropping its value too deep which is the right value to buy them and hold in few period of time.

And some exchange in a poll is stable based on my experience.
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February 09, 2018, 03:37:57 PM
 #27

Although the choices given is good and some might be okay but for me Bittrex is a stable exchange in my opinion too which was not included on the list. Most of the trading sites are really not secured but they are manageable.

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February 09, 2018, 06:16:17 PM
 #28

Although the choices given is good and some might be okay but for me Bittrex is a stable exchange in my opinion too which was not included on the list. Most of the trading sites are really not secured but they are manageable.

I too support the Bitrex site. I see every coin value more than any other site in the bitrex site. That you can directly check on the coinmarketcap to understand the value in every top altcoins in the market on bitrex site.
However, value will be fluctuate all the time and moreover the coins value will be different on every trading sites.

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February 09, 2018, 11:27:03 PM
 #29

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?

Exchanges will continue on with their business... Any price hikes or drops won't affect them in anyway.

The people that are losing money are the people that are storing cryptos on these exchanges. Exchanges take a net 0 house position. Think of them as an escrow. Whatever happens they'll get their share of money.

And the real people at risk here with a price dive would be the buyers/sellers, who are speculating on the price going up/down.

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