exchange problems

[Dark_raven007]

1. If you're going to deposit a big amounts, deposit them in small portions as exchanges have deposit (technical) issues so If for some reason the deposit didn't go through, you won't lose everything.

2. Always withdraw your funds as soon as you finish trading, exchanges can close your account and enforce KYC/AML verification without prior notice.

3. Always take a backup of your 2FA. An exchange may not be able to help you If you lose it.

And no, just because an exchange is charging higher fees, doesn't mean that It's more secure or safer.

I think that you have listed everything, and I have nothing to add. It will be useful for the author to pay attention to your help

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[Chrisjay29]

Me thw only problem for those exchanger especially hitbtc is the deposit. I've experience that when i seposite my token it didnt appear the full amount only the few. I report it to hitbtc but they didnt reply thats why i call hitbtc a scam exchanger. Other exchanger problem is the high withdrawal fee.

[btcdevil]

The main problem you will face is deposit and withdrawal in higher value. Their support system will be very poor. Apart from this some exchanges even manipulate the price of some coins and when they do this they will put the wallet of that coin in maintenance.

[Reatim]

hi all,
i want to know the problems involve in most exchanges and how can we overcome such problems.
mostly some exchange withrawals fees are very high e.g IDEX exchange, wen trading now does it mean that it is safe and secured for trading?
please i need your idea or oppinion.

No, higher withdrawal fees doesn't equate with better security features. On the contrary, exchanges having big fees usually doesn't have a good support as well. Of course hacking is the main problem and to overcome it, exchanges should always be on guard as to prevent those hackers. In your end, try to secured your account and don't put too much money on any exchanges, just enough for you to make trades and if you accumulated in the 5 digit range, much better to withdraw it in your wallet where you have full control. Another worst thing that can happen is exchanges freezing your account and money and requiring you KYC before you can get your funds out which requires months to process.

[bcoinseliot]

Mostly all cryptocurrency exchanges are vulnerable to hacker attacks. And that problem takes place even at the present. No matter how much you trust your exchange, you should watch and take care of your assets.

[carlfebz2]

hi all,
i want to know the problems involve in most exchanges and how can we overcome such problems.
mostly some exchange withrawals fees are very high e.g IDEX exchange, wen trading now does it mean that it is safe and secured for trading?
please i need your idea or oppinion.

No, higher withdrawal fees doesn't equate with better security features. On the contrary, exchanges having big fees usually doesn't have a good support as well. Of course hacking is the main problem and to overcome it, exchanges should always be on guard as to prevent those hackers. In your end, try to secured your account and don't put too much money on any exchanges, just enough for you to make trades and if you accumulated in the 5 digit range, much better to withdraw it in your wallet where you have full control. Another worst thing that can happen is exchanges freezing your account and money and requiring you KYC before you can get your funds out which requires months to process.

Wondering why do people think up this way where fees is correlated with security of such exchange? Its definitely no connection because fees has nothing to do with exchange security because they are really a different thing. IDEX had been mentioned which is a decentralized exchange which do mostly trade out Erc20 tokens, he do able to say high fees when the ETH networks clogs out and ask high amount of gas on each transaction.
The main problem of exchangers is security itself, tendency of hacking can really be done if hackers wanted to and as a user this would really be an important factor to be consider when we choose up exchangers.

[recklessMe]

The main problem you will face is deposit and withdrawal in higher value. Their support system will be very poor. Apart from this some exchanges even manipulate the price of some coins and when they do this they will put the wallet of that coin in maintenance.

Actually, not every exchange charges high fees for deposits/withdrawals. For instance, cex takes only 3.5% for making a deposit by card, and no fees with bank transfers. And now they even provide benefits for that (https://blog.cex.io/news/wire-bonus-17716).

[sunsilk]

Mostly all cryptocurrency exchanges are vulnerable to hacker attacks. And that problem takes place even at the present. No matter how much you trust your exchange, you should watch and take care of your assets.

The first comment was enough to say every problems through majority of these exchanges.

It doesn't mean they have higher fees, you are safe, your money is safe and you can't experience inconvenience.

And out of the trust that we are putting to exchanges, one problem was made by us. What's that? because we fully trust it, we are ok letting our coins stay there and using them as a cold storage.

[slocker]

Main problem for all exchanges is hacking. But hacking is not for exchanges only they can hack anything and anyone, you me him companies...... They have tools for it and for them its just moment. However they are other problem too with exchanges. Exchanges must be user friendly and with fast responses and good and communicative support. Without that they are doom and our crypto is finished. If they have technical problems they need to solved them ASAP if not many users will leave that exchange. Other problems dont want to mentioned think these are good for now.

[ocid]

The main problem you will face is deposit and withdrawal in higher value. Their support system will be very poor. Apart from this some exchanges even manipulate the price of some coins and when they do this they will put the wallet of that coin in maintenance.

the high costs that must be incurred are indeed a major problem, but on the other hand security features are things that must be considered, when we want to withdraw the funds we have from the site requires us to KYC and can be burdensome if indeed the money we will withdraw is very needed for urgent needs because the KYC process requires approval that cannot be done in a short time.