Deleted due to compromised account

[GGmith]

yes .. any exchange can be at risk like that or hacks can occur. I personally never save big money in the exchange because I know very well the risks. I am a project promoter and also an ordinary trader. I just use every exchange in accordance with my needs.

[Bonwin]

I am trying to fathom what BCNEX was trying to guide against. You know that it is a new exchange and exchanges like that need volume. They might have seen a lot of people withdrawing fund, which could have left the exchange with a limited fund, so they had to put a control to it. I checked it recently and I saw that the limited withdrawal for 24 hours is $100. I think they increased it a little. However, withdrawals are now being executed as fast as possible.

[Flux0z]

Which is why ALL of you should wake up and start using decentralized exchanges like the Blocknet DEX: https://blockdx.com/

On top of that Blocknet is working on Decentralized Oracles as well, this makes running a node become extremely profitable in the near future, the recent price move is a good sign that a lot of people is watching this project from the sidelines 

[d3nz]

It is not possible to disagree with you. CEXs are the most dangerous places in crypto sphere in terms of hacking and blocking of our funds. If you transfer the fund to the wrong address, never consider an option like correcting the transaction. They can do what they want with their own rules and in return we will get just an apology, but we will be removed immediately in our first mistake against them.

Really true, usually centralised exchange will rules against us and put us to blame when there's a slight mistake on our end meanwhile they could get away easily if there's a massive hacking occurs just like back then on various exchange. They sometimes unreasonably locking someone's account and I've experienced it once.

This is why i don't provide my information in any exchange that would require it before making any transaction because i don't feel secure if i will provide my personal information and it might use against me and we all know that all of the exchange can be hacked easily.

And gladly that Binance, Kucoin and Bittrex does not ask for KYC first before making a transaction on their exchange which is really i like and i feel unanimous.

[Darktongue]

Hack, scam are common things in Centralized exchange. Don't get fooled by the high rank or huge trading volume, still, they are not safe! Binance CEO CZ was very confident that Binance is like a hardware wallet, he tweeted about it and after one month of that tweet, Binance got hacked and 7000 Bitcoin was compromised! Bithumb, Coinbene was hacked several times, many centralized exchanges scammed us.

Recently BCNEX exchange is likely to scam, they locked withdrawal, after 20 days when they unlocked the withdrawal function, people started withdrawing their money, but BCNEX is not finishing our withdrawals, they limited the itl by 50$ only! I have withdrawn my ETH 6 hours ago, still pending, some withdrew 14 hours go, still pending!

So, this is proved again why you shouldn't keep your money on a centralized exchange! Your money can be a scam or hacked anytime!

Scam exchange, fake volume, top volume exchange always shouldn't trust. P2pb2b exchange has huge volume as several website but still this exchange is in the untrusted list. Almost all exchange has hacked history in cryptocurrency market but even though we have to trust legit exchange. Only by ICO Bcnex make the top success last year but now has untrust results.

[NathanJB]

But with all those hack incidents hitting the largest of cryptocurrency exchanges, the people are still using them more than DEXs. I don't understand why. The volume is not a reason because sooner or later when people are really choosing DEXs over centralized exchanges, the volume will immediately follow. There is really no future with centralized exchanges for me. KYC is one issue. Hacking and stealing of coins and other personal information is another.

some time ago I have experienced the same thing but now I am trying to trade with another method although using a decentralized exchange place I use a special wallet for trading so I will not lose all the assets that I have again, because I have had experience using 1 wallet to trade and save coins and get hacked I suffered a lot of losses.

That's a nice strategy you have. Sometimes we really need to walk an extra mile for our security.

I had a bad experience with Etherdelta before, the most popular and trusted DEX in the history of cryptocurrency trading. I had a little trauma inputting my private key into any DEX after that. But then when its reputation was already sullied, I tried shifting to IDEX and everything was smooth once again.

Based on my experience with etherdelta, that's opposite with your problems mate. Though there were times I encountered delayed processing on trading, but it went good after my order had been completed. Also with IDEX, your transactions on same problem will tend to happen when there's some problem that would arise which beyond our control.

My problem with Etherdelta was not about delays. It was due to my using the platform that my ETH was stolen. There must be a problem somewhere. I guess my address was included in the addresses that were hacked during that time. It was not a big amount at all but still that was enough for me to create another MEW account. I had no problems with IDEX.

[jessyj48]

There is no other better exchange that will give you same service like that of centralized exchange, binance is a top centralized exchange and yes they got hacked but binance paid all lost funds, isn't it? My own advice is never to leave huge $$$ worth of coins on any centralized exchange because another hack might be around the corner

[isaac_clarke22]

It is people's laziness, and there's nothing we can do about them but warn them about it.
I have online wallet but most of the time I convert them into fiat anyway and at times I am thinking of creating desktop wallet isolated only for the purpose of hodling my money and the device won't be used to connect to unsafe networks.

Although even reputated exchange like Binance would be able to recover damages done to people, it isn't worth of just being a victim in one of those.

[naikturun]

why do you say so and is a decentralized market guaranteed?
I think there are more cases in decentralized exchange because it's not exposed in the media or the news so there is no bad news about it.
all markets have their respective advantages.

[NathanJB]

why do you say so and is a decentralized market guaranteed?
I think there are more cases in decentralized exchange because it's not exposed in the media or the news so there is no bad news about it.
all markets have their respective advantages.

Yes, there are pros and cons in using a decentralized exchange as much as there are also pros and cons in using a centralized exchange. The problem with using a centralized exchange is that your coins are not on your own. By saving it in a wallet in a centralized exchange, you are not anymore the owner of it. And whatever happens to that exchange, your coins are also included.

[johnwest]

I totally agree with your thought but have you tried trading when the fluctuation is high..? Its really hard to buy or sell at your specified mark on a decentralized exchange. Centralized exchange gets you good volume as well as lots of other features like recently Binance started giving staking rewards. I have suggested people to use decentralized exchanges but only 10% of them still prefer.

[Santri]

for that I have never put money in exchange because I do not want events like that happen to me, I prefer to put money in a personal wallet because I can freely send wherever I want

[mcnocon2]

Hack, scam are common things in Centralized exchange. Don't get fooled by the high rank or huge trading volume, still, they are not safe! Binance CEO CZ was very confident that Binance is like a hardware wallet, he tweeted about it and after one month of that tweet, Binance got hacked and 7000 Bitcoin was compromised! Bithumb, Coinbene was hacked several times, many centralized exchanges scammed us.

Recently BCNEX exchange is likely to scam, they locked withdrawal, after 20 days when they unlocked the withdrawal function, people started withdrawing their money, but BCNEX is not finishing our withdrawals, they limited the itl by 50$ only! I have withdrawn my ETH 6 hours ago, still pending, some withdrew 14 hours go, still pending!

So, this is proved again why you shouldn't keep your money on a centralized exchange! Your money can be a scam or hacked anytime!

I think you are comparing two different teams, BCNEX exchange team scammed the people by stopping the withdrawal function while Binance and some other exchange hacked. This is the problem with new exchanges, its very hard to trust new exchanges that's why I always stick with the old and trusted one. My funds are all in Binance and I am confident that even though they got hacked they can recover cause they have SAFU funds and as the time goes by their security is getting stronger.

[Shimmiry]

Centralized exchange is already risky to encounter and would deal you nothing but loss and negativity. Centralize itself is already an explicit statement for the word "controlled" and would you even take the risk investing on exchanges that can be controlled by a single person or a group of "trusted" companies? Also, most centralized exchanges often ends up being a scam, while some were good yet some were difficult to earn.

[julius caesar]

Just in case that you need some wallet that you could store your cryptocurrency, do not store it on the exchange so that you will avoid this kind of cases that something happen on the exchange and they got scammed. Always store your cryptocurrency in the legitimate wallet and try to maximize the security of your wallet by putting some double authenticator on it so that hackers will have a hard time hacking your wallet.

[romero121]

Hack, scam are common things in Centralized exchange. Don't get fooled by the high rank or huge trading volume, still, they are not safe! Binance CEO CZ was very confident that Binance is like a hardware wallet, he tweeted about it and after one month of that tweet, Binance got hacked and 7000 Bitcoin was compromised! Bithumb, Coinbene was hacked several times, many centralized exchanges scammed us.

Recently BCNEX exchange is likely to scam, they locked withdrawal, after 20 days when they unlocked the withdrawal function, people started withdrawing their money, but BCNEX is not finishing our withdrawals, they limited the itl by 50$ only! I have withdrawn my ETH 6 hours ago, still pending, some withdrew 14 hours go, still pending!

So, this is proved again why you shouldn't keep your money on a centralized exchange! Your money can be a scam or hacked anytime!

I think you are comparing two different teams, BCNEX exchange team scammed the people by stopping the withdrawal function while Binance and some other exchange hacked. This is the problem with new exchanges, its very hard to trust new exchanges that's why I always stick with the old and trusted one. My funds are all in Binance and I am confident that even though they got hacked they can recover cause they have SAFU funds and as the time goes by their security is getting stronger.

Good, when there is more trusted service providers what is the need to go with the new exchanges in the market that hasn't gained good reputation in the market. As mentioned Binance and few other top cryptocurrency exchanges have got good sum of reserve fund. Even at times of hacks those funds stay as a security for the users.

If one is willing to make use of a new exchange, it is advisable to test with small funds and further increase the trading volume based on the satisfaction and the trust gained.

[FireBallex]

Hack will likely continue to happen on centralized exchange and this doesn't judge that they are bad, instead you must choose too exchange that is capable of returning users money when hacks happened, okex huobi or binance are too exchanges you will survive for long term even if hacks takes place

[nutriagrigia]

Hack will likely continue to happen on centralized exchange and this doesn't judge that they are bad, instead you must choose too exchange that is capable of returning users money when hacks happened, okex huobi or binance are too exchanges you will survive for long term even if hacks takes place

in general, I don’t understand why people are afraid to hold their money on such large exchanges, because Binance has already proved to us that if the hacking of the exchange occurs because of the low security of the exchange itself, then they simply return the money to users. I also think that on such exchanges you can store your money for quite a long time and safely.

[travwill]

Sometimes we just have no choice. Especially if we are talking about coins having a limited set of exchanges. However, you are right, all exchanges are intermediaries, which means an extra link in our interaction with money and the market, but sometimes without it there is no place. In the future, probably, everything will change, and we will deal “face to face” without intermediaries, but so far this future will rob us more than once.

[Free1bitco.in]

Sometimes we just have no choice. Especially if we are talking about coins having a limited set of exchanges. However, you are right, all exchanges are intermediaries, which means an extra link in our interaction with money and the market, but sometimes without it there is no place. In the future, probably, everything will change, and we will deal “face to face” without intermediaries, but so far this future will rob us more than once.

Well, I don't really believe in markets that have a centralized system, but if it is a local market, I will believe it. Well, to date my assets are 90% in the centralized market. however, not all centralized markets are bad, like binance, it is a very responsible market. in the case of BCNEX, it looks like it's quite different until now there are still quite a lot of problems, even I heard the team is on vacation. Yeah, but the advantage is that we know who is responsible.