Not necessarily specific exchanges but comments in that regard are welcome also.
What are your fears about doing business with exchanges?
Theft of your crypto?
Not getting paid?
Governments blocking or seizing your funds?
Hacking of the exchange's website?
Loss of privacy?
Express your own concerns as well!
Maybe through discussion we can improve the situation with exchanges.
Thanks for reading!
are you starting up your own exchange / wallet service and this is part of your research ?
Nice idea but no.
Takes much more money than I have to set up an exchange and operate in the USA!
Literally millions by the time all of the required registrations are complete and that is no joke!
I am very security minded, have concerns of my own and thought this might make a good topic for discussioni.
Thanks for reading!
My $.02.
fair enough, i just thought it would be cool to see another exchange on the horizon
Def a good topic of discussion!
In terms of concerns, below are my top:
1. Inability to cash out to Fiat when the time comes, especially in large amounts.
2. Exchanges always on the verge of collapse or shutdown by governments (happened to many times)
3. Lack of Privacy, the long list of documents are annoying, especially with requirement like (must be no older than 3 months etc), sometimes you give them all your documents then they aren't happy/satisfied so you refuse to use their service, what do they do with your ID docs after that ?
4. Since i'm giving out so much about my self, i am worried about Identity theft in case of hacks or lack of proper in-company policy to safe guard your Identity. Can't really trust them with my Documentations as they don't follow a set protocol, like for example charles swab would.
5. Slow BTC withdrawals / deposits always an unnerving experience
6. Poor, slow and unresponsive support (Bitstamp are the only ones that proved reliable in terms of support, every other exchange has major issues and i tried all of them)
1 & 4 are my biggest concerns.