So many new cryptocurrency exchange now, Are they safe to trade?

[Tahsin Kabir Kollol]

It is a really important matter for traders. There are also many new cryptocurrency exchanges, But all of them are not safe for trade. Before depositing your asset and take a trade, You must be aware of the exchanger's security system, liquidity, customer service system, and the availability of assets withdraw. No exchanger is totally secure but some exchanger has a strong security system and they take responsibility for the loss of hacked. Some exchanges have poor customer service and no matter how hard you try, you will not get any solution from them. Some exchangers ’trade fee is much higher and Some exchangers charge a large withdrawal fee when withdrawing assets. There are also some scam exchanges. So traders should select exchanges by observing these things well. There are also some exchanges that are safe for trade.

[Findingnemo]

Even if a new exchange got good reviews you shouldn't have to trust them for huge amount, why you want to run off with a new one when there are lot of exchanges have millions in trading volume. but none of the exchange is safe to hold your coins for too long.

I don't use new exchange, old exchanges with higher reputation is recommended, right now Binance is still a major cryptocurrency exchange to its legal and safety it is the most reliable exchange. There are some good exchanges that are available but you must be careful before choosing.

New and old exchange site are the same and what make them different is there liquidity, users, trading volume, trust, security, reputation,  community support level but none of them is ever safe which the reason why people are advised not to keep huge coins on the exchange site. However, new exchange are the most worse and my advise to people is to never use an exchange site they did trust or that look suspicious.

Any exchange which doesn't have good reputation in the recent times should be avoided and it always lacks on most of the new exchange or they will simply shill for their exchange with paid reviews so wait for some time to know their real identity when an exchange is newly launched.

[Quidat]

Even if a new exchange got good reviews you shouldn't have to trust them for huge amount, why you want to run off with a new one when there are lot of exchanges have millions in trading volume. but none of the exchange is safe to hold your coins for too long.

I don't use new exchange, old exchanges with higher reputation is recommended, right now Binance is still a major cryptocurrency exchange to its legal and safety it is the most reliable exchange. There are some good exchanges that are available but you must be careful before choosing.

New and old exchange site are the same and what make them different is there liquidity, users, trading volume, trust, security, reputation,  community support level but none of them is ever safe which the reason why people are advised not to keep huge coins on the exchange site. However, new exchange are the most worse and my advise to people is to never use an exchange site they did trust or that look suspicious.

Any exchange which doesn't have good reputation in the recent times should be avoided and it always lacks on most of the new exchange or they will simply shill for their exchange with paid reviews so wait for some time to know their real identity when an exchange is newly launched.

This is always been the case but doesnt mean that all new exchangers are on the same bracket because there are really legit ones but doesnt really get that much attention or support due to very high competition in exchange market but those are still capable on giving out the same service.This is why there are people who do really try out to these new platforms but talking on the obvious side then
you can really spot out an exchange which is poorly made or just simply copied other exchange templates or design but most of the time, if you are just that wise then better not to bother yourself
and always stick out on which one is the current top rank in exchanges and make use of it.

[Findingnemo]

This is always been the case but doesnt mean that all new exchangers are on the same bracket because there are really legit ones but doesnt really get that much attention or support due to very high competition in exchange market but those are still capable on giving out the same service.This is why there are people who do really try out to these new platforms but talking on the obvious side then
you can really spot out an exchange which is poorly made or just simply copied other exchange templates or design but most of the time, if you are just that wise then better not to bother yourself
and always stick out on which one is the current top rank in exchanges and make use of it.

everyone has to start from zero, even Binance was new when it was launched and it it literally new compared to other old reputed exchange bust still why it got the top place among preferred option, just because they never tried to make profits initially they wanted to build their brand and make more people to use their service so any new exchange with good intention will not be hide anything if they do then people will skip them.

[hulla]

Even if a new exchange got good reviews you shouldn't have to trust them for huge amount, why you want to run off with a new one when there are lot of exchanges have millions in trading volume. but none of the exchange is safe to hold your coins for too long.

I don't use new exchange, old exchanges with higher reputation is recommended, right now Binance is still a major cryptocurrency exchange to its legal and safety it is the most reliable exchange. There are some good exchanges that are available but you must be careful before choosing.

New and old exchange site are the same and what make them different is there liquidity, users, trading volume, trust, security, reputation,  community support level but none of them is ever safe which the reason why people are advised not to keep huge coins on the exchange site. However, new exchange are the most worse and my advise to people is to never use an exchange site they did trust or that look suspicious.

Any exchange which doesn't have good reputation in the recent times should be avoided and it always lacks on most of the new exchange or they will simply shill for their exchange with paid reviews so wait for some time to know their real identity when an exchange is newly launched.

This is always been the case but doesnt mean that all new exchangers are on the same bracket because there are really legit ones but doesnt really get that much attention or support due to very high competition in exchange market but those are still capable on giving out the same service.This is why there are people who do really try out to these new platforms but talking on the obvious side then
you can really spot out an exchange which is poorly made or just simply copied other exchange templates or design but most of the time, if you are just that wise then better not to bother yourself
and always stick out on which one is the current top rank in exchanges and make use of it.

Well said mate and that's what I'm trying to point out when i said the old and new exchange are the same cause i have used an exchange site which is not popular, their activities are fast than some popular exchange site. Nonetheless, crypto traders/enthusiasts and investors need to understand that it's not advisable to keep huge coins on exchange no matter the SAFU introduced by an exchange site

[TheUltraElite]

It is a really important matter for traders. There are also many new cryptocurrency exchanges, But all of them are not safe for trade.

Often it is not a need that makes the person join and use an exchange. It is compulsion because they own a shitcoin that didnt get listed on a older well known exchange and got listed somewhere less known who again want new users to sign up and thus a low listing fee. That is a a part of the deal that the project owners often do to make sure they can list the coin at the earliest.

The bounty hunters are also taking the risk of using these exchanges and they are being forced to use them in a sense. But it all comes back down to hunting for the worthless coins. If they stop doing that, this useless trail of frustration will stop.

[Wulan]

None of the exchanges are safe.

None.

It doesn't matter if it is new or old. All of them are unsafe. Even binance leaked people's KYC documents before. There isn't a safe exchange. It is just waiting its turn to get hacked. If you don't want to be the sucker, don't keep your coins on exchanges.

Really, maybe I don't really understand if it's like you said because I'm still new, but if this is really happening from now on maybe I will follow the advice you gave but if I put it in my wallet whether it's the same or not, and if you may ask where you keep your coins maybe I will also use the same wallet as you so I can feel calm.

[dunfida]

It is a really important matter for traders. There are also many new cryptocurrency exchanges, But all of them are not safe for trade.

Often it is not a need that makes the person join and use an exchange. It is compulsion because they own a shitcoin that didnt get listed on a older well known exchange and got listed somewhere less known who again want new users to sign up and thus a low listing fee. That is a a part of the deal that the project owners often do to make sure they can list the coin at the earliest.

The bounty hunters are also taking the risk of using these exchanges and they are being forced to use them in a sense. But it all comes back down to hunting for the worthless coins. If they stop doing that, this useless trail of frustration will stop.

Hunters shouldnt really took some blame because the one that should really be stopped is to those people who are still trying to invest or support kind of projects.
If there were no supporters then these things will eventually die and there wont really be new exchanges that do pops out.I agree to the point that people wont
really have any other choice but to deal with newly launched exchanges or not popular because they have coins that need to sell off- no matter what its reputation
as long they can able to sell then that what matter most.

[Mondinic]

Been on crypto for 4 years and I know how risky to trade unknown or new trading exchange, A lot of trading exchange was suddenly closed and some got hack by anonymous hacker. I like to hear everyones thoughts about this.


Thank you

That is why I am reluctant to exchange to a new exchange other than in some of the top exchanges, because besides needing information I also need to research first so that nothing unexpected happens later, so even though there is a new exchange that appears and the fee is cheap, I still use the exchange that I trust until now because I can already ensure its own security.

[rodskee]

Been on crypto for 4 years and I know how risky to trade unknown or new trading exchange, A lot of trading exchange was suddenly closed and some got hack by anonymous hacker. I like to hear everyones thoughts about this.


Thank you

That is why I am reluctant to exchange to a new exchange other than in some of the top exchanges, because besides needing information I also need to research first so that nothing unexpected happens later, so even though there is a new exchange that appears and the fee is cheap, I still use the exchange that I trust until now because I can already ensure its own security.

It's important to do your deeper research before using any exchange both new and old exchange needs to be assess
as there's always possibilities that you may encounter problems.
Traders who do their homework always have smoother transactions, they enjoy the trade without worrying of anything
in order to enjoy things like that, best to work with your knowledge
in terms of knowing every information about the exchange that you are planning to use.


Keep in mind that research gives you proper understanding, you'll be able to pick the right place for your investment
without any hesitations to deal with the exchange.

[nelson4lov]

That is why I am reluctant to exchange to a new exchange other than in some of the top exchanges, because besides needing information I also need to research first so that nothing unexpected happens later, so even though there is a new exchange that appears and the fee is cheap, I still use the exchange that I trust until now because I can already ensure its own security.

Security is a very serious matter to be taken under careful consideration. I understand why you're hesitant to try out new exchanges. I do too. There's an old saying that the devil you know is better than the angel you don't know. Existing exchanges might have their flaws but they've proved themselves at least. For instance, Binance has one of the best security as an exchange but they were hacked at some point (although funds were safu) In my opinion, Its better to stick with exchanges who have been around for years that go after new, shiny exchanges.

[Mondinic]

Been on crypto for 4 years and I know how risky to trade unknown or new trading exchange, A lot of trading exchange was suddenly closed and some got hack by anonymous hacker. I like to hear everyones thoughts about this.


Thank you

That is why I am reluctant to exchange to a new exchange other than in some of the top exchanges, because besides needing information I also need to research first so that nothing unexpected happens later, so even though there is a new exchange that appears and the fee is cheap, I still use the exchange that I trust until now because I can already ensure its own security.

It's important to do your deeper research before using any exchange both new and old exchange needs to be assess
as there's always possibilities that you may encounter problems.
Traders who do their homework always have smoother transactions, they enjoy the trade without worrying of anything
in order to enjoy things like that, best to work with your knowledge
in terms of knowing every information about the exchange that you are planning to use.


Keep in mind that research gives you proper understanding, you'll be able to pick the right place for your investment
without any hesitations to deal with the exchange.

yeah that's what I mean if only following the wishes and not researching deeper is just a dead end,
because of this I wrestle at home to find out what is the best to transact because before the thing that is not wanted to happen I already got the basic information so no need to worry about fraud even if it's just basic but it's also important for me,
it's really better to think of an earlier plan for better results.


and it is true that reliable research is also very much needed for future investment without the need to think about the exchange.

That is why I am reluctant to exchange to a new exchange other than in some of the top exchanges, because besides needing information I also need to research first so that nothing unexpected happens later, so even though there is a new exchange that appears and the fee is cheap, I still use the exchange that I trust until now because I can already ensure its own security.

Security is a very serious matter to be taken under careful consideration. I understand why you're hesitant to try out new exchanges. I do too. There's an old saying that the devil you know is better than the angel you don't know. Existing exchanges might have their flaws but they've proved themselves at least. For instance, Binance has one of the best security as an exchange but they were hacked at some point (although funds were safu) In my opinion, Its better to stick with exchanges who have been around for years that go after new, shiny exchanges.

I really agree with the parable that you listed, but even though they have proven to their safety but there are still those who can break through no matter how small, and also I'm sure because of that problem they began to tighten their security but hackers may also have a way that even better in hacking, and therefore I still hold fast to the choice I chose until now.

[maydna]

Been on crypto for 4 years and I know how risky to trade unknown or new trading exchange, A lot of trading exchange was suddenly closed and some got hack by anonymous hacker. I like to hear everyones thoughts about this.
Thank you

So you know that it is risky to trade on the unknown or new trading exchanges. I think we don't have to try the new exchanges if we are not sure how good their security to protect their members, and it is better to stay at the exchanges that we already used to trade. But that is not guaranteed because we already knew that the old exchange, which has good security, could also get hacked. After all, the hacker will try to find the bugs on every exchange. That will make the exchange need to stay alert from the hacker. Protecting the account will not just the exchange jobs, but we also need to secure our account, so we can prevent the hacker from penetrating our account.

[Lordhermes]

No, no new crypto exchange is safe now, it's an advise to stick to old exchange like Bittrex, Kucoin, Okex, Hitbtc and many more old exchanges.
Many new exchanges nowadays are full of scammers, exercising low and unexecution of trade orders. Exchanges like exmarkets, p2pb2b, and numerous new exchanges, they have nothing to offer to users persuading users to sign up for bonus that can be withdrawn. New exchanges aren't best now.

[Findingnemo]

Community reviews are always important which we choose trading because we can't simply send our money to new exchanges which they launched recently. It is always good to trade in old exchange which they are actively sending withdrawals on time without any problems. Review very important when choosing an exchange for trading.

But don't look for the reviews on some random websites, go to public forum and read the reviews from previous users because many websites give positive reviews for money and people also offering services to for positive reviews for good chunk of money.

[target]

It is somehow true when they say none of the exchange is safe. There are lots of things that can happen when you trade your coins not necessarily that the exchange will shut down all of a sudden with your coins on their wallets. Some were hacked like Gox.

No, no new crypto exchange is safe now, it's an advise to stick to old exchange like Bittrex, Kucoin, Okex, Hitbtc and many more old exchanges.
Many new exchanges nowadays are full of scammers, exercising low and unexecution of trade orders. Exchanges like exmarkets, p2pb2b, and numerous new exchanges, they have nothing to offer to users persuading users to sign up for bonus that can be withdrawn. New exchanges aren't best now.

Even that old ones can one day snap and take all your coins with them. One exchange that I still used today despite the accusations is yobit and its still not mandatory to send my documents to them. Its still good to use.

[TheUltraElite]

But don't look for the reviews on some random websites, go to public forum and read the reviews from previous users because many websites give positive reviews for money and people also offering services to for positive reviews for good chunk of money.

Absolutely no argument there. We have seen how badly shills get hired to promote sites and it makes the marketing unhealthy but it works in pulling in a lot of new traffic and noobs to the site. It is good for the exchange but can possibly be bad for the trader. Instead using the exchange and checking whether you can trust them yourself is the better way to go. One might find an exchange very useful which another person might not be happy with.

Again the risk of scam exchanges is there but they quickly get called out and are forced to shut down, but some people get scammed.

[leea-1334]

Absolutely no argument there. We have seen how badly shills get hired to promote sites and it makes the marketing unhealthy but it works in pulling in a lot of new traffic and noobs to the site. It is good for the exchange but can possibly be bad for the trader. Instead using the exchange and checking whether you can trust them yourself is the better way to go. One might find an exchange very useful which another person might not be happy with.

Again the risk of scam exchanges is there but they quickly get called out and are forced to shut down, but some people get scammed.

Traffic that will give absolutely zero value to the site. In the end, it is wasted effort and wasted resources. But projects cannot be patient and cannot see the long term view so we end up where we always are,,, Short cuts and dead ends.

Stick to the reputable exchanges. The few savings and benefits from new exchanges are not worth it!

[rozak]

Been on crypto for 4 years and I know how risky to trade unknown or new trading exchange, A lot of trading exchange was suddenly closed and some got hack by anonymous hacker. I like to hear everyones thoughts about this.


Thank you

don't judge it too bad bro, if you want to trade safely and comfortably choose an exchange that is considered top-top or that is widely known in addition to safe as far as I know it usually has good security, I usually pass through exchanges on forkdelta and until now I thankful for not having met such a thing.
 

[bct_ail]

No. No (centralized) exchange is safe. They can be hacked, they can do an exit scam, anyone from the staff can sell data like personal data from KYC and so on. Even etherdelta wasn't immune against a hack. The best thing is to leave your coins as short as possible on the exchange.