Cryptsy reputable? I'm considering getting Verified on cryptsy.

[m3110w]

Hi All,

I have a basic account with Cryptsy. I'm considering submitting my ID documents to get Verified on Cryptsy for low amount, occasional transactions in various altcoins and USD. I do not plan on keeping any significant amount in Cryptsy. I just plan to deposit, then do my trades, then quickly withdraw most or all of my currency.

Does Cryptsy have a good reputation? Anyone one get burned by Cryptsy? Any relevant links?

Thanks for helping a newbie,

Advait

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[xstr8guy]

Cryptsy seems to be one of the most stable/reputable altcoin exchanges at the moment. I've used them for quite some time and have never had any significant issues.

But as with any exchange, NEVER leave your coins in for any length of time. Make your trades and immediately withdraw to your own wallet. Exchanges disappear/get hacked/go bankrupt with alarming frequency. Bitstamp, Bter, Gox, Mintpal, Paybase (lol)... the list goes on. And it's probably only a matter of time before this happens to Cryptsy. But for the moment, Cryptsy seems to rock-solid.

[finnile]

Yes Cryptsy is very reputable . Also they are based in the US I think, so that is better than exchanges based in other countries .

[m3110w]

Hello xstr8guy and finnile,

Excellent, thanks for the info. I'll get Verified on Cryptsy and do some quick in and out trades. I did some research and it looks like Cryptsy had some problems in their beginning but now it seems they're OK.

It says that Cryptsy is incorporated in Belize and I'm sure the Belize crypto-currency laws are fully state-of-the-art.     

Also says its managed in USA.

In any case I plan to do only quick trades and never keep any significant assets there.

Thanks!

Advait

[ajaxmoor]

Since you are just looking to trade for low amounts, you should be fine on other exchanges like Bittrex as well. They usually have more trading for someone who would like to day trade.

[m3110w]

Since you are just looking to trade for low amounts, you should be fine on other exchanges like Bittrex as well. They usually have more trading for someone who would like to day trade.

Thanks. I went ahead and registered with Bittrex and will check them out with some small quick trades. I don't plan on doing any day trading (there are much more fun ways to throw my money away). I'm a newbie so I'm just walking up the crypto currency learning curve and absorbing the basics. In the future I may do some research and figure out which currencies to hold for long term investment using my play money.

Cheers,

Advait