What are the disadvantages of cryptocurrency exchanges?

[fasdorcas]

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 of their disadvantage is the lack of good customer care support which has been a great deal of issue, the ones that mange to have customer support end up not attending to your pressing issue until you lose your money completely out of a little mistake you made using their platform.

Another disadvantage is that some of them does not have fiat support,transactions taking place are delayed and the deposits as well. So, the best is to always use a widely known and accepted exchange.

[Matematic]

your account can be blocked, your funds may be frozen, you can be asked for ID, etc. so I prefer to use trading services without such disadvantages, f.e. changenow

[valheru]

Crypto trade has a lot of good things, but there are bad aspects also. As you specified, transaction fees can be really much(saying for some currencies). The price difference between the markets is boring because you need to always observe and buy at the lowest price when buying something.

[eann014]

The disadvantage of cryptocurrency exchanges I think when there is a coin that I hold and I can't exchange to another coin because they don't have that coin. And the gas, there are some exchanges that are expensive when it comes to gas. I don't know if that is because of how many coins you will exchange

[Razerglass]

Crypto trade has a lot of good things, but there are bad aspects also. As you specified, transaction fees can be really much(saying for some currencies). The price difference between the markets is boring because you need to always observe and buy at the lowest price when buying something.

There are lots of online tools for finding the price difference on various exchanges. If someone doesn't want to pay high fees for trading then testing each exchange one by one for small amounts looks like a feasible solution. Some bots offer the same thing for a small commission in the market. Just my 2 cents.

[LUCKMCFLY]

Crypto trade has a lot of good things, but there are bad aspects also. As you specified, transaction fees can be really much(saying for some currencies). The price difference between the markets is boring because you need to always observe and buy at the lowest price when buying something.

There are lots of online tools for finding the price difference on various exchanges. If someone doesn't want to pay high fees for trading then testing each exchange one by one for small amounts looks like a feasible solution. Some bots offer the same thing for a small commission in the market. Just my 2 cents.

This is correct, there are many bot services that currently do, I sincerely prefer to do my operations in a secure way so I have to pay my fees, the fees are something that the exchanges earn when offering the service, so far the exchange that less fee by operation charges is Binance, although it lacks many tools, it is the least expensive.