What is your biggest frustration with the altcoin currency exchanges?

[SteveR]

It seems to me that the current exchanges get the job done, but there is a lot of room for improvement.  So I'm curious...

What is your biggest frustration with the altcoin currency exchanges available today?

Thanks!
Steve

[1714748360]

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[Zisef]

Well I put a buy order in for volt for 9 satoshi, I missed a zero and instead of 660K, I bought 66K. So double check them zeros .

[SteveR]

Well I put a buy order in for volt for 9 satoshi, I missed a zero and instead of 660K, I bought 66K. So double check them zeros .

All those zeros and decimal places definitely get confusing at times!  Since computers can't read your mind (yet ) the only way I can think to help with that problem is to show the equivalent value in BTC or USD (or whatever the user is familiar with).  That might help avoid those off by 10x errors.

Thanks Zisef!

[Isildur23]

Biggest frustration for me is that they are getting very slow because the number of users is increasing too fast and they can't handle all the work.

[SteveR]

Biggest frustration for me is that they are getting very slow because the number of users is increasing too fast and they can't handle all the work.

Thanks Isildur23!  I'm glad to see there is lots of growth in the community, but it's definitely frustrating when websites are slow, or trade orders take a long time to execute.  Thanks!

[faiza1990]

I want now some altcoins exchanges must accepts payments in US and EURO also because some time its very difficult to do deposit in coins

[Zzzack]

I want now some altcoins exchanges must accepts payments in US and EURO also because some time its very difficult to do deposit in coins

I know for a fact Quark is accepted on 3 exchanges that do USD or EUR --> crypto.

Just buy Quark with USD or EUR, then buy the crypto you want?

[zackclark70]

accepting bribes for coins to be added

[hvezdasmrti]

Trading at craptsy is always a frustration, however coinedump is often even slower. But craptsy has many triumphs - deposits taking few days, withdrawals going completelly mad, pump orders done in following dump phase... Its an atmosphere of crypto trading, something like smelly pub. You hate it but you always return there.

[SteveR]

accepting bribes for coins to be added

So you're frustrated that exchanges aren't accepting enough bribes

[Zisef]

I am loving the new exchanges, who is this cryptsy people are speaking of? 

[zackclark70]

accepting bribes for coins to be added

So you're frustrated that exchanges aren't accepting enough bribes

some how cut off the first 3 words lol ( exchanges shouldn't be )

[SteveR]

Trading at craptsy is always a frustration, however coinedump is often even slower. ... You hate it but you always return there.

Thanks hvezdasmrti!  Sounds like a wonderful experience, I can see why you're always return

[sakkosekk]

Well I put a buy order in for volt for 9 satoshi, I missed a zero and instead of 660K, I bought 66K. So double check them zeros .

It's worse when you sell with a missed zero All exchanges should have a warning like Cryptsy does.

[Gazza1]

Just the lag.  Cryptsy has addressed any frustrations I once had with trading with their new interface and features.

[hellscabane]

Just the lag.  Cryptsy has addressed any frustrations I once had with trading with their new interface and features.

I second this. Lag can sometimes be quite the burden. At the same time, I do wish that some exchanges that trade many cryptocurrencies only allow the trade of coins that maintain enough activity. I think something like that could change the paradigm substantially.

[Disastrus]

yup crypsty is a lagging donkey...its about speed mostly thats what matters to me.
execute when i want it..and that is now.

i like coinex for this since a few weeks.

but speed and stability ladies and gentlemen..is what we need

[usahero]

I have frustrations with mtgox and coins-e. Both owe me coins.

[SteveR]

Thanks Gazza1, hellscabane and Disastrus.  The trade lag/speed issue seems to come up often.

I do wish that some exchanges that trade many cryptocurrencies only allow the trade of coins that maintain enough activity.

Why is that?  Is it because there are too many coins displayed in the interface and you want to filter just the active ones (remote the clutter)?  Or because the buy/sell orders don't execute when there isn't enough activity?  Or something else entirely?

[SteveR]

I have frustrations with mtgox and coins-e. Both owe me coins.

Lost coins is definitely frustrating!    Did you try either of their customer support?  And if so how was that experience?

[BrewCrewFan]

Random coin deposits and withdraws taking a shit at random times.
I hate when not less than a day ago a coin has no problems.... then the next its a clusterfuck and it never shows up for 24+ hours.

[usahero]

I have frustrations with mtgox and coins-e. Both owe me coins.

Lost coins is definitely frustrating!    Did you try either of their customer support?  And if so how was that experience?

Coins-e responded that "they need more time". After 1.5 months they no longer responded my requests.


Mtgox is not responding at all.

[hellscabane]

Thanks Gazza1, hellscabane and Disastrus.  The trade lag/speed issue seems to come up often.

I do wish that some exchanges that trade many cryptocurrencies only allow the trade of coins that maintain enough activity.

Why is that?  Is it because there are too many coins displayed in the interface and you want to filter just the active ones (remote the clutter)?  Or because the buy/sell orders don't execute when there isn't enough activity?  Or something else entirely?

Mainly issues with perceptions and there is a higher likelihood of easy manipulation for coins without much activity. I don't think there should be a daily minimum, but maybe if a coin's bi-weekly moving average dips below a certain point, consideration to phase it out should be made.

[keithers]

biggest frustration is the lack of choices of major exchanges offering alt coins...  You have to do a ton of homework to see if you can even trust sending your coins there to trade..

[SteveR]

Mainly issues with perceptions and there is a higher likelihood of easy manipulation for coins without much activity. I don't think there should be a daily minimum, but maybe if a coin's bi-weekly moving average dips below a certain point, consideration to phase it out should be made.

Thanks for the explanation and suggestion.  That's a good idea.

[elixir]

when a new coin comes to the exchange and it takes hours to deposit and by the time it does the price has gone down so it was all for nothing, then you have to go out and find someone weaker than you to punch. 

[SteveR]

Thanks for all the comments about what frustrates you!

Based on the comments here are the top three frustrations:

1.  Speed is the biggest frustration overall.  Slow trades, slow deposits, slow withdrawals, slow websites, or sites down completely. The current exchanges don't seem to scale well.

2.  Slow to add the newest coins, and not enough coins in general.  Lack of a clear process to get a coin added.

3.  Customer service also came up a lot.

Based on these top three frustrations I've decided to start building a new exchange.  One that will be fast and have the latest coins.

I've written up a description for the new exchange, that I'm calling RapidCX (Rapid Coin eXchange).  I'd really appreciate you feedback.  Here is the description.

If this exchange existed today would you switch?  Are there any frustrations that I missed?

[arbitrage001]

Biggest frustration is missing deposit and non-existence support.