Bad experience with exchanges

[SheriffEl]

Hello

I'm wondering if you ever had a bad experience with crypto exchange, what was it and which exchange?

Feel free to share all kind of stories.

[1713473584]

1713473584

[1713473584]

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[1713473584]

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[Lucius]

I personally have not had any bad experiences with crypto exchanges, but I use only my local exchanges which do not ask me (so far) for KYC, and they have very good support which solves any problem very fast.

Perhaps the biggest problem that can happen to you when using exchanges is that they get hacked, and in the biggest hack of one crypto exchange (Mt.Gox) users lost 850 000 BTC which have not yet been returned. The second risk is that your documents that you submitted for KYC can be stolen and misused.

There is no doubt that the biggest risks are the loss of funds and identity theft, but there are also problems with deposits, withdrawals, coins sent to the wrong addresses, bad&slow support.

[joniboini]

Please don't make a thread that will attract spammers.

You can find the answer to your question with Google. It's easy, and it will save some time for you.

[DGulari]

Please don't make a thread that will attract spammers.

You can find the answer to your question with Google. It's easy, and it will save some time for you.

Where is the wrong part of asking from people's experience? I would say OP is still new on crypto, that's why he need to make sure he didn't fall or having bad experienced like other people had. This is also prevent more people registering or using scam exchange sites.

Hello

I'm wondering if you ever had a bad experience with crypto exchange, what was it and which exchange?

Feel free to share all kind of stories.

I ever had bad experienced in many exchanges, some of them already closed. But the worst experience was I've registered on a site then several months later it closed (Liqui.io).

[dothebeats]

Cryptsy customer support way back 2016. This was during the time when Blackcoin was still a popular pump and dump coin (not proud of it) and I was on the move for capitalizing on price differences in Bittrex and Cryptsy. I was asking for a push in withdrawal but their support replied that it's an on-chain problem of Blackcoin and not from theirs that's why they can't push withdrawals. I tried again after an hour and a different reason came up, and for the third time until the price difference in-between exchanges diminished that it's no longer worth it to arbitrage anymore. They pushed the withdrawals right after that point, to which no profit can be made. Usually it is the customer support that tires me on an exchange and not the platform per se, and I believe similar cases here, too.

[Juggy777]

Hello

I'm wondering if you ever had a bad experience with crypto exchange, what was it and which exchange?

Feel free to share all kind of stories.

@SheriffEl I had bad experience with Cryptopia as it suddenly shut down, and I lost access to my coins worth $1500 back then and now their worth is only $31. Normally I have always advocated people to stay away from exchanges as they keep getting hacked, but it was my sheer bad luck that I forgot about my coins till it was too late. If you were looking to store your coin in exchanges, then I hope my post will help you understand why you should stay away from exchanges.

Details here: https://www.cryptopia.co.nz/

[LeGaulois]

Please don't make a thread that will attract spammers.

You can find the answer to your question with Google. It's easy, and it will save some time for you.

Where is the wrong part of asking from people's experience? I would say OP is still new on crypto, that's why he need to make sure he didn't fall or having bad experienced like other people had. This is also prevent more people registering or using scam exchange sites.

Hello

I'm wondering if you ever had a bad experience with crypto exchange, what was it and which exchange?

Feel free to share all kind of stories.

I ever had bad experienced in many exchanges, some of them already closed. But the worst experience was I've registered on a site then several months later it closed (Liqui.io).

Because it is a very repetitive topic with a question/topic asked 100 times. He brings nothing new... If you check @OP posts history you will notice he is no more than a pure shitposter, he has no interest in reading this conversation. Sorry to be rude but it's the truth.
There are many users like him. Like when you see a Hero member, in BTC for 4 years, and asking newbie questions?" Seriously?

"Feel free to share all kinds of stories," he says, oh yeah why he didn't start first?.

@Juggy777
I have been lucky with Cryptopia  

[erikalui]

I have bad experiences with two exchanges: Cryptopia and Hitbtc. Cryptopia's hack and then bankruptcy made me lose $400 and hitbtc doesn't let me withdraw my coins as they want fee in fiat when the market has crashed long back.

[Velkro]

I'm wondering if you ever had a bad experience with crypto exchange, what was it and which exchange?

Mt Gox first, lucky there didn't lost anything. Many friends did tho, which was big hit to them.
Then btc-e, lucky again, not keeping funds on exchanges is my decision tho.
Then couple more, all failed, all vanished due to technical issues or exit-scam (hack).

So overall... almost all exchanges i used not exist anymore, this is lesson to be learned here

[emilykumoro]

Bitgrail. Luckily I didn't hold a lot of NANO then.

Lesson learned. I always transfer to my hardware wallet if coin is supported.

[teosanru]

Well I had a terrible experience with an Exchange called coinsmarket. Held a lot of BTC there at the time of bull run. Suddenly the whole site went into maintenance until next notice. The next notice came after 3 months when they said that they are deciding to wind up their operations and they will disburse all payments of the holders. Unfortunately that day never came. Infact after a couple of months the hosting and domain of the exchange was expired and I never saw that exchange live again. The total amount was around 1.3 BTC at the time of Bull run which was worth much more than what it is now.

[harizen]

Hello

I'm wondering if you ever had a bad experience with crypto exchange, what was it and which exchange?

Feel free to share all kind of stories.

I see that all responses here are all about those exchanges who already turned into a scam and I don't think how knowing them will help you. Or if you really want to know about those exchanges, it's just one click away at your favorite and preferred search engine.

Why not just research or asked directly instead about some issues of currently active and operational exchanges today. In that way, it will help you to choose what's the best exchanges that might worth to put a risk so you will not end up on random exchanges.

[boyptc]

There are various of experiences that you can read on the Exchanges for a particular exchange that has an announcement thread there.

--> https://bitcointalk.org/index.php?board=223.0

[GreatArkansas]

Mine was about their KYC,  I don't remember the exchange anymore.
When I registered on their exchange, there was no KYC things about. But I think a month or weeks after they required all the users that want to withdraw the funds to undergo with KYC.

That's the time I pissed, especially their third party KYC is so strict, since my Bitcoin on their exchange, I have no choice. So I submitted some documents of mine. I even got some renewal of my document before because they don't accept anymore those expired documents. Really hassle.

[figmentofmyass]

Hello

I'm wondering if you ever had a bad experience with crypto exchange, what was it and which exchange?

Feel free to share all kind of stories.

i had funds on bitfinex when they got hacked in 2016. my balance took a big haircut. i also lost a bunch of coins on btc-e in 2017 when the american government took them down.

fortunately, i've managed to avoid getting hassled over KYC or having my accounts hacked or closed, but i've certainly got some battle scars.

[ivakar]

yes, I've had bad experience and I think many folks from bitcointalk suffered from closing of cryptopia exchange.
so for me it was not huge amount lost there, but my friend lost about 1.5 btc on cryptopia
and we have no idea if we ever could get it back..  other then that, usually all troubles with exchanges were covered by support.

 

[mk4]

Weirdly, knowing that a lot of people had some problems with certain exchanges, I never really had a bad experience. The probable reason why is that I really don't use those shadier exchanges, and while I pretty much only use the reputable exchanges, I almost never leave funds on exchanges for more than 24 hours. I pretty much execute the trades, and withdraw the funds almost immediately without wasting any time. That way, even if a reputable exchange gets hacked, I stay pretty much unaffected.

[Taskford]

Hello

I'm wondering if you ever had a bad experience with crypto exchange, what was it and which exchange?

Feel free to share all kind of stories.

I've encounter a lot of problems with exchange and it's so many to list them up and I will just  write here I think the one who give impact on my side and that is when my funds is been hostage on Hitbtc and it toke many almost months before they fix my issues, also with p2pb2b where my earned tokens has been stuck since there's no actual volume and they require me a KYC so that I can withdraw my coins and literally I hate KYC so I forgot my tokens there, and lastly on cryptopia where they got hack and lose some mney with that events.

Newbies should really be careful on exchanges since some of them are totally bullshit but there's one exchange who really empress me and I think they are legit since when they encounter a hacking issue on there site they manage to return the funds of there users and they also make sure that there site security will be tighten more to avoid future problems and that's the binance exchange.

[SheriffEl]

Please don't make a thread that will attract spammers.

You can find the answer to your question with Google. It's easy, and it will save some time for you.

Where is the wrong part of asking from people's experience? I would say OP is still new on crypto, that's why he need to make sure he didn't fall or having bad experienced like other people had. This is also prevent more people registering or using scam exchange sites.

Hello

I'm wondering if you ever had a bad experience with crypto exchange, what was it and which exchange?

Feel free to share all kind of stories.

I ever had bad experienced in many exchanges, some of them already closed. But the worst experience was I've registered on a site then several months later it closed (Liqui.io).

I am new and I saw few people commenting they had a bad experience with certain exchanges, wanted to hear if this happens regularly or just by chance.

[SheriffEl]

Hello

I'm wondering if you ever had a bad experience with crypto exchange, what was it and which exchange?

Feel free to share all kind of stories.

@SheriffEl I had bad experience with Cryptopia as it suddenly shut down, and I lost access to my coins worth $1500 back then and now their worth is only $31. Normally I have always advocated people to stay away from exchanges as they keep getting hacked, but it was my sheer bad luck that I forgot about my coins till it was too late. If you were looking to store your coin in exchanges, then I hope my post will help you understand why you should stay away from exchanges.

Details here: https://www.cryptopia.co.nz/

Sorry to hear that. If the exchange shuts down and you have coins on that particular exchange do you loose them or..?