exchanges Why i think the exchanges are a trap

[scorpiali 5626]

On 3/20/2020 at 1:53 PM, Ngetpa said:

Not all the exchange site is a trap. It depends about if the site is legit or not. And assets should only be put or moved into it if you tend to sell your coins.

Yes all are the same we should search fir our exchange before, the majority of exchange have now the cold wallet and any one should move her coins to the trading wallet to trade them

[Thekingcallme 1975]

Yes, your words are true, there are some platforms and exchanges are a trap, but for the big platforms they cannot do that because they are very popular and they have a good income already and do not need to steal their clients

[malik6314193 5449]

Yes i agree with your point. As we see every year one of top 100 exchange do scam with their users and stole their money. As now extstock exchange is doing with their users. That's the reason people didn't want to invest in crypto world.

[nykas 2812]

Keeping big amounts of money is dangerous even on big and popular exchanges, because they always can be hacked and your money can be lost, so you should to keep crypto on hardware wallet 

[Soaib khan 1035]

I don't believe in any kind of centralized cryptocurrency exchange because as we have seen so many scam so I  personally lose more than $400 of cryptocurrency just because of hacking of cryptocurrency exchange 

[magd 5231]

I do not agree with you because I dealt with a lot of platforms and exchanges, which were sincere in the transfers and withdrawals, which provide a lot of fees as well, but we must choose reliable exchanges in order to fall into the trap of fraudulent sites

[Calvinpriva 17296]

If we will think deep according to your information's i think we will see truth like 50% of what you said. But we should remember this, exchanges are a place to trade our coins and then withdraw them to a wallet. We can face many things if we will use exchanges as wallets for a long time.

[Ridam 7455]

Yes bro bad incident have been happened with exchanges in past but considering all as trap wouldn't be nice. That's why you shouldn't keep all your fund in exchanges or in single online wallet. And for our safety we should work on reputed exchanges at least they are more secured than new exchanges.

[Raqeebzy 6456]

On 10/18/2019 at 6:25 PM, Keith700 said:

Since a few years there have been several disappearances of important exchanges such as Mt Gox or Cryptsy

Actually, Mt Gox didn't just actually disappear, it was hacked by a Russian hacker where up to 600,000BTC was reportedly stolen and Mt Gox holding a large percentage of bitcoin transactions, it really affected bitcoin value then. All in all, it comes back to the campaign that keeping a large number of Crypto on exchanges should be avoided, we have seen enough scerenios.

[guatazoo 7150]

Sure sometimes the exchanges can be used as the trap to scam people, that they will allow trading and withdrawing as usual, but after three years they can make the self hack in order to close the platform for the reason of being hacked. 

[MrGox 880]

On 5/15/2020 at 6:23 PM, malik6314193 said:

Yes i agree with your point. As we see every year one of top 100 exchange do scam with their users and stole their money. As now extstock exchange is doing with their users. That's the reason people didn't want to invest in crypto world.

You are right my dear, there are a lot of exchanges and more than that most of them are just scammed and don't trusted by none. But we must prefer top rank exchanges, like trusted Coinbase or something else. 

[Zaino34 0]

You are right, we must not place large sums of money in the platforms and not make them our portfolios of currencies, and we must only keep the sums that we trade in because these platforms may be penetrated and we may lose our money because of that

[ponijandu 0]

You think so because have less knowledge of technical analysis and fundamental analysis .

With the help of thse two everyone can earn big money from exchanges.

Then u will never blam exchanges.

[valvaltv 252]

I understand you and your concerns. But didn't you think that exchanges are more profitable for people to trade and trust the exchange? After all, then the exchange will earn much more money at a distance. All serious crypto projects strive for trust.

On 19.10.2019 at 00:25, Keith700 said:

Since a few years there have been several disappearances of important exchanges such as Mt Gox or Cryptsy.
Placing high amounts of money on exchanges is usually very tempting for ambitious people or high esteem for fiat money in exchange.
They are a trap because they can put any excuse at the time of taking out the money or their policy becomes very pedantic, it is like a kind of social but closed circle, certain people have lived that as a condition of putting their money against the ropes, It is better to put a small amount on exchanges that do not affect your pocket, each exchange is a world so choose a good one.

 

[guatazoo 7150]

Of course some of the exchanges are really trap exchanges, when they launch the exchange first they must work as legit in order to got really investors, but when whales start using the exchange, there is where they run. 

[cooperallch 349]

It is recommended that you do not save your money on exchanges, but if you cannot at least keep it in a safe exchange, many exchanges can apply a scam when you least expect it

[raking 50]

A wallet is the best choice if you don't trust the exchange. I think the big exchanges are more risky as you say.

[Abdulrahman3 1252]

Their idea is the same as the idea of banks, they deal honestly for some years, and after they have gained a good number of customers they declare their bankruptcy, and if the customer goes to complain to the government, he finds a large number of customers who have submitted complaints that are useless because the owner of the platform or the bank escaped and took the money.

[Shadi29 871]

My dear friend at the beginning Thank you for your information, everyone of us is always looking to keep the money safe from thieves and scammers, and to be honest that collecting money makes people covet your money so do not leave all your money on the stock exchange and make sure to withdraw every small amount before it swells And it becomes coveted for thieves

[Mohamedryad 287]

Not all of them are gimmicks, but there are some platforms that could be like that. You have to be a smart person and know how to differentiate them. It's great and it will help you. 

[Cleaner 2549]

There are many exchange sites in the crypto world. But not all exchange sites are good.  Many exchange sites are scammed.  So we need to stay away from scam exchange sites.  We can choose binance, huobi, kucoin, yobit exchange sites

[teebasas 3018]

We have different points of view, but for me, exchange is not a trap, but rather a means of achieving goals when you have a good chance to exchange with others. When a good opportunity to trade presents itself, don't pass it up.