I’ve been exploring Cyptocurrencies for a while now and I’ve been using Bittrex and Poloniex. These are the platforms recommended to me by friends who have been trading BTC for a long time already.
But recently, my cousin decided to venture into crypto exchange. (I’m thrilled! Don’t get me wrong! ) It’s always nice to talk about this with someone I know. It’s just that he keeps on mentioning Cryptopia and that I should use it to trade. I haven’t heard much about it before so I’m still unsure
Do you guys have any experience using Cryptopia before? Do they have easy deposit and withdrawals? I just also wanna make sure that my cousin isn’t falling for a scam or something.
You guys are amazing! Thank youuuu!
Personally, I’ve heard it from time to time but nothing in particular stands out in my mind about them.
I’d recommend to go with an exchange that has been tested and proven to work fine.
In my case I use bitstamp for withdrawals but trade on HitBTC. This is because the banks in the country I am risiding have an issue with the crypto-to-fiat currency transfers and so far bitstamp has been working without an issue.
And i prefer that platform because it’s simple to use and has a lot of alts along with all the major currencies.
I agree with @bradley79 about using more reliable exchanges. But as far as I know there are really a lot of alts on cryptopia. I was interested in cryptopia before because RaiBlocks (XRB) was only available there.
This is also what I had in mind. I told him about it but he seems to be so sure of Cryptopia. This is why I had to consult you guys. I’ll look more into those platforms but by any chance, do you know whether these work well in the Philippines too?
Hmm. Okay. How did you hear of them? And why did you not push through with using them? Huhu.
Sorry guys for having so many questions. I just really love the enthusiasm my cousin is displaying and I want the best for him.
Here’s a list from which you can pick crypto exchanges.
Pick a number (10 for example) and do a research on them.
A spreadsheet works best for me.
Compare features, pairs availabe, deposit & withdrawal + trading fees, user feedback and check their support/forum pages to see if there are issues.
Contact the support and ask all the questions, compare the answers, reply speeds and then test with the minimum deposit/withdrawals to test if they really work as advertised.
Wow! Thanks for the very detailed instructions @bradley79! I’ll even share this with my cousin!
As I said, the platforms I use now are just recommendations. I think it would be interesting to kinda take the harder path and really dig more about them on my own.
I use Bittrex and Binance and I have a hard time monitoring those 2 accounts. I feel that it’s going to be so hard to trade in 3 exchanges. Also, XRB is now on Binance.
Hmm. I could just imagine how difficult it would be. Good thing this research would mostly be for my cousin. I just wanna try to help him out too.
You know what? I even told him to visit BP cause I’m gonna be asking you guys about Cryptopia. Hey kuya!!! If you’re reading this, take notes.
I hope your cousin didn’t sign up with Crypopia because they got hacked recently, and apparently the staff watched for five days people’s investments being drained without doing anything about it. Hackers made off with 16 million USD.
OH WOW. That’s huge. We haven’t talked about it, but I really hope he didn’t sign up with them. Oh my.
Me too. I really hope he invested elsewhere. Unfortunately no one investing in cryptocurrencies is safe from such events, it seems.
Yeah. But cryptocurrencies have been around for a while now. I mean, you’d think they’d be more cautious of these things, right? Huhu.
It’s a shitcoin pump and dump exchange, they recently got robbed (hacked). They do have easy deposits and withdrawals but so do most other crypto exchanges.
For altcoin trading, Binance is the best for me. For leveraged margin trading Bitmex is the best (unless you’re from the US, they don’t allow US clients anymore).
Most crypto exchanges don’t have cold storage so don’t keep your money in the exchange, take it back to the wallet once you’re done trading.
Hello @muratbey! It’s my first time seeing you here. Welcome! How long have you been into cryptos? Have there been movements in the past few months?
I’m new here (and learning Forex as well). It’s the bear market in bitcoin, not much action these days. I’ve been trading bitcoin for a year, I expect it to bottom out sometime around may or june.
An update on the situation with Cryptopia – the exchange has suspended all services and will be liquidated, the company announced in a statement.
The liquidation will be supervised by the consultancy and audit firm Grant Thornton New Zealand, the local subsidiary of Grant Thornton International.
In January crypto currency investors, who had wallets with Cryptopia lost assets for more then 16 million USD, including more that 3,5 million worth of Ethereum coins after a hacker attack.
Oh wow. That was fast. I wonder why this happened when crypto seems to have been making a comeback recently? Huhuhu. I asked my cousin about this before and he said that his friends signed up but he wasn’t able to join them cause he needed to use the money somewhere else. Looks like it was a blessing in disguise!
Thanks for the update btw, @mlawson71!
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