What Are Your Thoughts on Emerging Cryptocurrency Exchanges and Their Events?

[Wexnident]

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Pretty sure the altcoins isn't worth the risk of using their new exchanges lol. Not to mention that even big exchanges themselves afaik host similar types of events, if not the same (not that I participated in any of them). In addition, you should prefer reputable exchanges to new ones regardless of the amount of giveaways they do. It's REALLY normal for some shitcoins to be given out thinking that it was priced at X amount but turns out it was actually Y amount at the time you'd received it lol.

If you wanted to earn some altcoins, there's probably a bunch of airdrops and events out there that don't involve storing your money in their exchange.

[Agbamoni]

I won't call them smaller exchanges just because they are new exchanges and people do not know their services at first instance. What i have realized within a few years is that these new exchanges are revolutionizing the experience of centralized exchanges. There are enhancements in securities and adding of new feature that can attract more users to their exchanges. At the end of the day what's important is that your coins are safe, the transaction moves smoothly, and customer support works perfectly. If the exchange does not fully perform all these functions without interruption, then it is safe to use. The added events and features that are included in these new exchanges are ideas that was added by the team to improve on the things that users can do with cex other than the primary feature. It also provides a chance for users to earn some free tokens and make some bugs by participating in the exchange events.

[Z-tight]

Do you use emerging cryptocurrency exchanges? What are your thoughts on trusting these smaller exchanges? Additionally, some of these exchanges host events where we can earn altcoins. What do you think about such events?

I don't trust any centralized exchange, not to mention new ones. New and smaller exchanges are riskier, even for trading, older centralized exchanges may be okay for trading, but neither of them is recommended to store your funds.

Is a platform that uses cold vault reliable in this regard?

A centralized exchange isn't going to help your store all of your money in cold storage, they make more money through fractional reserve, so your money is risked in one investment or the other. They also have to store part of it in a hot wallet, where it is easily accessible. Don't deceive yourself, your funds is only safe in your own self custody, buy a hardware wallet or set up an airgapped wallet yourself, that way you are sure of your own security.

[jaberwock]

Do you use emerging cryptocurrency exchanges? What are your thoughts on trusting these smaller exchanges? Additionally, some of these exchanges host events where we can earn altcoins. What do you think about such events?

I have a local exchange that I use and most times I receive notified on when I made some extra coins in rewards when I do transaction on the chain, some of the rewards value may be low but then their offer such rewards to keep tester and user on the network, and since the exchange have some level of reputation within the people, it help such coins to gain popularity among the exchange users.

So once there is a trust level already established with those exchange, whatever program they bring our should be taken as somewhat support for those projects and to help the general cryptocurrency space to grow.

That's nice to hear. They are only local but they are generous, though I guess this is their way in attempts of becoming one of the popular exchanges not only in your own locality but also in the whole world because they might also support other countries aside from yours and they might have plans to expand their operations in the future.

You mentioned tester there and the first thing that came into my mind is they are still new in the space. Let's only hope that even they became established, they will still retain their earn or rewards programs to their customers. They shouldn't think that it's only a waste of money but in fact, it helps them to retain their old customers and as well as gain new ones.

[Dr.Bitcoin_Strange]

Those events that're being hosted by those new exchanges are only for one common reason, which is to attract customers. Because they are newly emerging exchanges, they want to make sure they adopt any marketing strategy that can help them gain publicity, and I just want to let people using those exchanges be smart enough not to trust any centralized exchange by storing their coins on that exchange.

 Most of this already existing or old exchange once performed lots of events too when they were coming up. I still remember that I won a $10 deposit bonus on Binance Exchange, and I also won more than $20 for trading on their future market and some other events they did that I didn't win. Those events are a normal marketing strategy, but they don't guarantee that you should store your asset on the exchange. Remember, "not your key, not your coin."

[mirakal]

The reason is that they wanted people to know that they exist and are ready to provide services to the community. Of course, we can say they are small due to their trade volume, but they can be bigger when they gain trust and popularity among us (users). In fact, some exchanges pay influencers to promote their sites. It was a good and effective strategy to attract users. 

The growing number of exchanges promotes fair services, and those sites that can give customers satisfaction will gain trust. It is a very important thing that they have to get in order to survive the tough market competition. 

[Easteregg69]

Do you use emerging cryptocurrency exchanges? What are your thoughts on trusting these smaller exchanges? Additionally, some of these exchanges host events where we can earn altcoins. What do you think about such events?

Man. It's often patchwork that suddenly becomes business. Treat it like that.

You have to learn to go in with a dollar and check it out.

You know what I did last time someone paid me in dollars? I went straight to the bank with it. It was real dollars btw.

Cheers.