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

[vaynkayde]

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?

[Yamane_Keto]

Trust is gained through experience, support team, available trading options and platform features. Although gaining trust is easy, losing trust is quick, so if I find someone complaining about problems with the platform or difficulties in withdrawing, I will withdraw my balance immediately.

[Plaguedeath]

What do you mean? what are those events?

I think that participating launchpool in big centralized exchanges is enough, no need to unnecessary risk to invest in small and unknown centralized exchanges. Centralized exchanges are prone getting hacked, there have been so many small centralized exchanges got hacked and bankrupt, big centralized exchanges carrying the same risk, but the change is lower.

[Nwada001]

The events they create are for the purpose of raising awareness; the more people who participate in that event, the more news about them will spread. That's how they will reach more people, and what they are about to launch will be discussed even before they finally launch.
 
And if they are ever going to have a token for the exchange, using it to reward those who participate in that event can also be a means to increase the number of token holders.
 
As for trust, I don't go for new exchanges just like that unless they are the only choice I have; if not, I need to see them prove their worth by reading through the reviews of those who might have honestly used them.

What do you mean? what are those events?

I guess it should be events like cryptodrop, airdrop, contest, shilling or any kind of activity that can help them gain awareness.

[SquirrelJulietGarden]

Do you use emerging cryptocurrency exchanges? What are your thoughts on trusting these smaller exchanges?

New or old exchanges, if they are centralized exchanges, they are risky platforms to use and store your cryptocurrency on their platforms. Because "not your keys, not your coins" and you should never keep your money in online accounts.

Exchange graveyards can be an extra source to help you understand risk of centralized exchanges.

Additionally, some of these exchanges host events where we can earn altcoins. What do you think about such events?

It should only be at bottom of your priority when using a centralized exchange. Safety of your money, private keys, KYC and privacy, before thinking of earnings through their Welcome programs or whatever programs that are executed simply to get new users.

[Ndabagi01]

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?

New exchanges can be enticing with a lot of features and attractive offers and benefits you can gain for them if you trade with them, but just know that they’re all means of advertising and the main reason is to get plenty of customers trading with them. The main aim for to trust them is their long time trust and security features enabled on them and the developers of the exchange. Just know that an exchange can’t be trusted fully no matter how good their security features can be. Not your keys, not your coins; so don’t be so confidence in leaving your money there as a saving option for your coins.

[Die_empty]

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?

Every big exchange started small, so there is no need to underestimate them. But these exchanges will have to build their reputation for them to be trusted. They would have to operate the exchange in a manner that their customer will be satisfied with the services they offer. But I can risk using their services if they offer some good discount or packages. But I wouldn't deposit a huge amount because I don't fully trust them. This amount will be what I can be able to lose in case anything goes wrong.

Some of these exchanges can give out airdrops which can be profitable. Others can offer the opportunity for customers to claim some coins through competition or otherwise. But these promotions shouldn't entice you to use these exchanges because they could be bait. They can use these strategies to attract enough customers and later scam them through some means such as rug pulling.

[Stalker22]

When it comes to crypto exchanges, theres always some risk involved, no matter the size.  How much risk you wanna take on depends on your personal preference.  For me, I tend to stick to the bigger more established exchanges that have been around for a while.  Yeah, some of the smaller ones might offer fancy bonuses or whatever to get you to sign up.  but you gotta wonder if they really have the infrastructure and track record to keep your funds safe.

As for those crypto giveaway things or earn free altcoins promos, Id be real suspicious of those.  Some shady exchanges try to reel you in with the promise of easy money, when really they just want you to deposit funds so they can take the money and run.  So yeah if something sounds too good to be true, it always pays to do your homework and make sure an exchange is legit before sending them anything.

[Ambatman]

I won't say I'm paranoid in nature but
I don't like been the first finding out that something is bad.
The altcoins given isn't worth the security of your funds
Don't sacrifice returns for security
You can only use something you can access
 
Just get your coins from a reputable DEX and move to a secured open sourced Non custodial wallet or if possible get a cold wallet if capable.

Besides I think it would be better to move this to the Altcoin section. 

[AmoreJaz]

When it comes to crypto exchanges, theres always some risk involved, no matter the size.  How much risk you wanna take on depends on your personal preference.  For me, I tend to stick to the bigger more established exchanges that have been around for a while.  Yeah, some of the smaller ones might offer fancy bonuses or whatever to get you to sign up.  but you gotta wonder if they really have the infrastructure and track record to keep your funds safe.

As for those crypto giveaway things or earn free altcoins promos, Id be real suspicious of those.  Some shady exchanges try to reel you in with the promise of easy money, when really they just want you to deposit funds so they can take the money and run.  So yeah if something sounds too good to be true, it always pays to do your homework and make sure an exchange is legit before sending them anything.

Even reputable exchanges can be a victim of hacking, hence, you should always secure your funds and transfer it to your own wallet whenever you have no more transactions with them. It is understandable if you are still actively trading, however, when you finished it, better secure your funds and transfer it as soon as possible. Sophisticated hacking tools are always at disposal of these fraudsters.

[PrivacyG]

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 would stay away from unknown Centralized Exchanges.  There is such a long history of small Exchanges that went extinct, Scammed their Customers or were sketchy generally that I am convinced it is better to not earn those few Cents and keep myself sane than earn some Shit Coins that end up worthless anyway and be robbed too.

Events where you can earn Altcoins.  It reminds me of those Exchanges which host such Events and the Market goes plain insane for a few minutes, the smart guys earn their Fortune, the rest of the people lose it all and then the Coin is forgotten.

Or those Events through which they earn something off you.  To the point where you are probably better off earning Money off Surveys or selling your own information over the Black Market and putting the Money in Bitcoin.  If you really want to get something stripped off you for a few Cents, do it.  I would not touch it.

[Wiwo]

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.