What are the disadvantages of cryptocurrency exchanges?

[Koadharber]

Every day the popularity of cryptocurrencies is increasing. Millions of people – traders, politicians, financiers, analysts-follow the dynamics of their rates. However, nowadays, the use of digital assets is difficult. Even the purchase and exchange of cryptocurrencies are associated with problems - currency rates on different platforms are very different, and a solid commission is charged when withdrawing funds.

Just simple!

If you dont like to make involvement or using up exchange service you can always make use on peer to peer system but i believe this would be more risky than on using exchange when buying or selling up your crypto holdings and for regulation side then we should get used to it yet those exchange are just complying too with government laws for them to continue to operate.
This is the most fastest and convenient way i believe when purchasing or buying up coins.

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[pey]

Centralized cryptocurrency exchanges are totally bullshit, you actually pay more price than the fee, there is no certainty that your funds are safe 

[plpatel]

Every day the popularity of cryptocurrencies is increasing. Millions of people – traders, politicians, financiers, analysts-follow the dynamics of their rates. However, nowadays, the use of digital assets is difficult. Even the purchase and exchange of cryptocurrencies are associated with problems - currency rates on different platforms are very different, and a solid commission is charged when withdrawing funds.

I agree with you, in current scenario majority of exchanges do charge heavy commissions on withdraws, and I think in coming future this problem would be solved via P2P platform exchanges. We would be able to transact in real quick time with low transaction fees.

[dothebeats]

There are no disadvantage in a cryptocurrency exchange since it helps people acquire the coins they want and need to hold. In using it, however, there are certain disadvantages in which, IMO can be avoided if the end-user knows what he's doing. Keeping a huge amount in cryptocurrency exchanges had always been a bad thing since crypto exchanges are prone to hacks. Apart from that, anything is good in using crypto exchanges. Keeping yourself safe and vigilant in using these platforms would ensure that no unnecessary loss of funds will occur.

[Slow death]

What are the disadvantages of cryptocurrency exchanges?

1 -) Exchange does not have physical office

2 -) Many exchange has no license

3 -) Many exchange has no responsibility

4 -) Many exchange has no respect for its customers

5 -) Many exchange does not have enough staff to handle support tickets

6 -) Many exchanges are anonymous which creates a great headache if you want to complain about a serious problem

7 -) Many exchange has accusations of being scam

8 -) Many exchange charges high values for new altcoins to be listed, but we do not see these exchange to improve their services which reveals that the owners of many exchanges are just greedy people who only think about money

just see this:

HitBTC scam!

YOBIT Scam Exchange

Poloniex - Account locked for 2 months with open ticket

bittrex is a scam website - AVOID!- WITH PROOF!!

[farosa]

Every day the popularity of cryptocurrencies is increasing. Millions of people – traders, politicians, financiers, analysts-follow the dynamics of their rates. However, nowadays, the use of digital assets is difficult. Even the purchase and exchange of cryptocurrencies are associated with problems - currency rates on different platforms are very different, and a solid commission is charged when withdrawing funds.

In my opinion the biggest disadvantage is, if you make a mistake, you can not get your money back. I mean when you send money to anyone with bank, if there is an error, you can fix it and send it again. But in cryptocurrency if even a letter mistake you made,, you have probably lost your money.

[ahmad21]

Every day the popularity of cryptocurrencies is increasing. Millions of people – traders, politicians, financiers, analysts-follow the dynamics of their rates. However, nowadays, the use of digital assets is difficult. Even the purchase and exchange of cryptocurrencies are associated with problems - currency rates on different platforms are very different, and a solid commission is charged when withdrawing funds.

Yes there are many drawbacks of cryptocurrency exchanges. The rates of cryptocurrencies are different on different exchanges. The difference is also sometimes due to difference in currency value. The transaction fee of the exchanges is also quite more which makes it expensive to transact with cryptocurrencies. These problems can be solved with Peer-to-Peer lending which directly match the borrowers and lenders.

[weeklyeth]

hacking issues are the main disadvantages of exchangers they are many numerous hacking cases in the past so we should be carefully protect our accounts in exchangers

[renata.tuncha@ex.ua]

As with every market it is very difficult to predict the changes. Therefore,  the smartest way to invest in digital assets is to build a well-diversified portfolio based on your risk preference and investment goals. Such a portfolio would likely include a substantial holding in bitcoin and small exposure to promising  tokens. I have found a trustworthy project. It is called Socratus.  It is an insurance ecosystem which provides a digital platform for insurance companies. So any insurance company can connect the platform to become the part of Insurance Digital Ecosystem.

[buwaytress]

As with every market it is very difficult to predict the changes. Therefore,  the smartest way to invest in digital assets is to build a well-diversified portfolio based on your risk preference and investment goals. Such a portfolio would likely include a substantial holding in bitcoin and small exposure to promising  tokens. I have found a trustworthy project. It is called Socratus.  It is an insurance ecosystem which provides a digital platform for insurance companies. So any insurance company can connect the platform to become the part of Insurance Digital Ecosystem.

Apart from the fact that you've used the opportunity to shill and not answer the post... diversifying for the sake of diversifying isn't smart at all.

1. You've got the headache of maintaining more than a few coins you know well enough about, or use. Unless you use lightweight wallets for all of them, downloading and syncing is a headache for 1 coin as it is.
2. Look at all the so called crypto portfolios, like Pantera etc. They've all recorded worst performances compared to Bitcoin since the start of the year, and that's not even looking at this week's Bitcoin surge.

I do believe in some diversity, but only for a precious few. Bitcoin is already my diversification in money anyway.

[Emitdama]

Every day the popularity of cryptocurrencies is increasing. Millions of people – traders, politicians, financiers, analysts-follow the dynamics of their rates. However, nowadays, the use of digital assets is difficult. Even the purchase and exchange of cryptocurrencies are associated with problems - currency rates on different platforms are very different, and a solid commission is charged when withdrawing funds.

Yes there are many drawbacks of cryptocurrency exchanges. The rates of cryptocurrencies are different on different exchanges. The difference is also sometimes due to difference in currency value. The transaction fee of the exchanges is also quite more which makes it expensive to transact with cryptocurrencies. These problems can be solved with Peer-to-Peer lending which directly match the borrowers and lenders.

This isn’t nothing new in the market. Everything in this world have got pros and cons. You can’t just find any single item on this whole world that is defect and con free. No, you can’t really find that out. So try to accept pros of something and ignore cons at much level as you can. This is the only way to live a happy life. Else, your days and nights becomes so hard and living would be harsh.

[iram3130]

To know about the disadvantages, we need to know about the types.
Centralized exchanges have better interface, experience and comparably faster but you wont be having control over your tokens. It will be risky if you did some mistake and the service people wont respond properly.
Decentralized exchanges will give you control over your tokens but the speed of them will just kill your profit.

[matchi2011]

To know about the disadvantages, we need to know about the types.
Centralized exchanges have better interface, experience and comparably faster but you wont be having control over your tokens. It will be risky if you did some mistake and the service people wont respond properly.
Decentralized exchanges will give you control over your tokens but the speed of them will just kill your profit.

Good point and you have to think twice what particular exchange would be more comfortable for you, this question needs to be experience and justified
things that will affect your trading activities, if you can see good potentials and you think that you are capable to work with something that you wont
regret and you can take the risk then disadvantages can turned to your favored.

[Arthurian60]

Recently, I have come across so many disadvantages about Cryptocurrency exchanges. One thing is that most of this year exchanges are not genuine. Some have atrocious transaction fees. There so many disadvantages about them

[richcorner100]

Cryptocurrency exchange already given so many advantages for crypto community as platform that we can use to buy and sell crypto with each others trader. And for disadvantages is some exchange do not provide stop loss function so make trading activity will be more risk. For withdrawal fee is still normall amount, because they need money for maintenance and to give salary for their staff.

[vv181]

Lack of good UX design is really a major problem for cryptocurrencies, I believe it is one of the reasons that bottleneck the adoptions. The design is too techy and hard to use. Its really make regular user confused. And about the fee, I'm sure it is extremely high and does not reflect the purpose of decentralized cryptocurrency. But luckily, there are P2P Bitcoin exchanges like Bisq who is solved some of the problems.

[Jateng]

Every day the popularity of cryptocurrencies is increasing. Millions of people – traders, politicians, financiers, analysts-follow the dynamics of their rates. However, nowadays, the use of digital assets is difficult. Even the purchase and exchange of cryptocurrencies are associated with problems - currency rates on different platforms are very different, and a solid commission is charged when withdrawing funds.

One thing I hate when it comes to exchangers are the high fee when we are going to transfer our bitcoin into our wallet. I knew numbers of exchangers that are legit and have good feedbacks when it comes to its services but has high fee like 0.001 bitcoin. This kind of exchangers are not good or does not suit for traders that will trade small amount of bitcoin like me.

[joey alexander]

There are many but this ara the things that bugs me most. most exchanges does not support deposits or withdrawals of fiat currencies,Does not support margin trading and lending,Wait times high because of low liquidity,Slow customer support.

[trecore4]

Every day the popularity of cryptocurrencies is increasing. Millions of people – traders, politicians, financiers, analysts-follow the dynamics of their rates. However, nowadays, the use of digital assets is difficult. Even the purchase and exchange of cryptocurrencies are associated with problems - currency rates on different platforms are very different, and a solid commission is charged when withdrawing funds.

I think exchangers are bad at getting charges from us for the purpose of withdrawing them. I have observed it for some coins, I mean really selective one who are getting charged heavy for withdrawing purpose. Apart from this the charges also vary from exchanger to exchanger. I have seen HitBTC is one of the exchanger who charges heavily for withdrawing the coins. If you are say for example withdrawing the SCL, then they will charge you more than 100 SCL per transaction. I guess thats huge if we consider that with the native currency or coin itself. May be this wont change or we should be carefully choosing the exchanger itself.

[milewilda]

Every day the popularity of cryptocurrencies is increasing. Millions of people – traders, politicians, financiers, analysts-follow the dynamics of their rates. However, nowadays, the use of digital assets is difficult. Even the purchase and exchange of cryptocurrencies are associated with problems - currency rates on different platforms are very different, and a solid commission is charged when withdrawing funds.

One thing I hate when it comes to exchangers are the high fee when we are going to transfer our bitcoin into our wallet. I knew numbers of exchangers that are legit and have good feedbacks when it comes to its services but has high fee like 0.001 bitcoin. This kind of exchangers are not good or does not suit for traders that will trade small amount of bitcoin like me.

One of those exchangers that do have that fee is kucoin or hitbtc as far as i remember and even c-cex too which is already shady as of now which they do have high Withdrawal fee and the worst one do have deposit fee too which we can really say that they are really too greedy on imposing such fees and it would be mainly affect those small time traders.

There are many but this ara the things that bugs me most. most exchanges does not support deposits or withdrawals of fiat currencies,Does not support margin trading and lending,Wait times high because of low liquidity,Slow customer support.

There are exchangers that do have those features or functions it would just matter on how you do search up.