I can't but agree that trading on Chinese cryptocurrency exchanges entails substantial risks for foreign traders. Not need to remind you that their government is as unpredictable as a ricocheting bullet. So, if you feel confident enough to entrust your crypto to a centralized exchange like this, please don't complain if one day you will wake up to a message that your trading account had been blocked for no apparent reason.
I don't understand why people complain so much about Bithumb, as if all other cryptocurrency exchanges are totally trouble-free. Excuse me, but I have been dealing with such terrible platforms, where support and customer service had been virtually non-existent, that Bithumb looks like an absolutely normal trading space, compared to the mess that I had to endure. I have a small deposit there that allows me to trade some exotic coins, and everything has been running well so far.
I have found out about BitUBU only recently, but my fellow traders, who have already given this exchange a try, were moderately satisfied. The platform provides for an abundance of trading options like the usual stop trading, futures trading, and even algorithmic trading. I like the fact that there are more than 10 ways to deposit funds onto the exchange, though the fees are slightly higher than I expected.
I am not sure why, but the South Korean cryptocurrency exchanges have been extremely unreliable and ignorant of foreign customers lately. Maybe it has something to do with regulations or massive hacks - I don't really follow the crypto news from Asia - but Bithumb has been a huge disappointment for me. The exchange that promised so much, came up with so little. Their lax security is really annoying, and worrying, of course. Bithumb has been hacked before and will be hacked again sooner or later.
As I see it, the industry is currently developing in a way that leads to the demise of the majority of altcoins and cryptocurrency exchanges that simply don't meet the necessary standards of security, efficiency, and, in case of cryptocurrencies, the ability to showcase sustainable gains. It is like the survival of the strongest in the crypto space right now. And I doubt that BitForex would be able to survive the competition in the long run. This platform is just too dull and unreliable, if not to say shady.
I have been using Huobi during a certain period of my trading career, and I can say with all certainty that is was an exceptional experience. I had a couple of instances when the platform interface had unexpectedly defaulted to the Chinese language, which was a bit annoying. The range of crypto assets and tradable pairs is quite broad with 88 pairs for ETH alone, and more than 280 listed currencies. I saw the rumors circling around about Huobi being allegedly involved in wash trading, but that would be its only flaw.
For the last several months, I have been hopping from one crypto exchange to another, in search of a perfect combination of low fees, user-friendly interface, responsive support, and trouble-free withdrawals. From my experience, BitMex doesn't satisfy at least two to these demands: the fees are around the industry standard, but certainly not tailored for small-time traders; the support is very slow as it took them around 70 hours to respond to the ticket I had created.
When it comes to Binance, it was love at first sight for me, if that doesn't sound too cheesy. Anyway, I have entered this space in 2017, when the so-called cryptocraze had just begun getting into gears. Binance was the first cryptocurrency exchange I have registered with; Bitcoin was worth around $3K at that time. Back then, I was just a nascent trader, but my intuition, and the lack of greed, allowed me to ride the "green" wave up till it hit $18K, and then sell my BTC for a substantial profit, just before it all went crumbling. I've been loyal to Binance ever since.
We now have a sequel in the thriller called "How scammy is BiteBTC?" At first, the entire community of traders was roaring about the fact the BiteBTC withheld the majority of withdrawals. Now it turns out that this exchange has rebranded to Fedlio and starts gathering new fools, who believe that the fact that the platform was allegedly acquired by some Seychelles Commercial Bank would make BiteBTC less of a scammer.
I tried to withdraw my $3k they say that transaction is complete but won't provide transaction details like hash. I never received my withdrawal. I started a claim with reclaim crypto by *** but they need more users to proceed with my case. If you got scammed by tagz and they owe you money start a claim against them! It's free! (they take a part of your recovered crypto if successful)
Biggest scam exchange in History, they refuse withdrawals, they ban accounts without any reason, they never respond to support tickets. i'm willing to handle all the expenses for lawyers if anyone of you would like to join me in this.
Suddenly, BitForex turned out to be among Top 10 cryptocurrency exchanges on Coinmarketcap by adjusted volume. I liked this place before, though I haven't been trading there quite often because our firm prefers another platform. But whenever I have some free time and money, I go to BitForex to get some gains. I like everything about it, the fees, the user interface, and its overall functionality. Please let me know if you think that this platform has some flaws.
I have come across some negative feedback about Huobi Global regarding the fact that the provider is domiciled in China, the support ignores the non-Chinese users and such. I wouldn't argue that these instances couldn't have occurred, but judging from my experience as a trader on Huobi Global, the exchange works seamlessly. In two years, I haven't come across any signs of incompetence, system malfunctions or withdrawal hiccups. So, when reading the complaints about Huobi Global, remember that there are many people who are satisfied with this exchange.
Like any other cryptocurrency exchange, Bibox has its pros and cons. When it comes to pros, I would highlight the fact that this platform was developed by the people who also stood behind such well-known exchanges as OKCoin and Huobi Global. The trading experience is seamless and hassle-free. However, there had been some problems concerning deposits on Bibox. I was trying to deposit some ETH to my Bibox account, a seemingly easy process, though it had turned into a nightmare for me. After waiting idly for 24 hours for my ETH to arrive, I have contacted the support, but was put in a queue of 5000 people. In short, I saw the crypto in my account only a week later.
A few months go I added 20 bucks to bitubu and bought the exchange token ubu. The coin took of and now my coins were worth 550, so I sold and tried to withdraw my money. It has been 10 days and no response from bitubu customer service. There is no transaction id it just says accepted.
BitMEX is definitely not a beginner-friendly cryptocurrency exchange. The interface of the trading deck is much too complicated for a trader who has only begun learning the difference between the 200-day moving average and 20-day moving average, and understand how to use them for technical analysis. Such a trader would be absolutely confused by the abundance of tools and settings in BitMEX's TradingView. On the positive side, BitMEX provides an opportunity to trade crypto/fiat pair - USD being the fiat currency.
I remember when Bibox was only about to be launched, the team promised that it would be super innovative trading vehicle with incorporated AI technology. In the result, Bibox turned out to be a total clone of Binance, both in terms of functionality and design. Even the daily withdrawal limit for unverified users is the same - 2 BTC. The only thing that’s good about Bibox is it’s slightly smaller withdrawal fee of 0.0004 BTC.
I wonder when the majority of cryptocurrency traders have become so snobbish with regard to platforms like CoinBene. I totally understand the need for top-notch service, but you guys must give people behind CoinBene, and other exchanges, a break because they had created a trading environment that is sufficiently safe and efficient. Certainly, there is a lot of work to be done on the part of CoinBene, but they remain one of the best in the industry when it comes to fees.
Chinese or not, Bibox has probably the lowest fees among all top exchanges in the industry. I am trading with a moderate amount of my own money, so fees play a very important role in my strategy. So, after giving it some consideration, I have registered on Bibox and began trading. No issues so far, and I am more than satisfied with what Bibox charges, even compared to the likes of Binance.
I don't know if it just me, or does it happens to many people, but the support team of Huobi Global is as ignorant towards me as it gets. I have been trying to reach them for days regarding problems with the ETH withdrawal from my account, but just got the usual, "We'll get back to you as soon as possible with a solution." It took them ages to resolve this issue and reply to me. I suspect that there is some kind of discrimination of non-Asian users is going on at Huobi Global, though I wouldn't want to spread conspiracy theories.
The thing I like about BitMax is its extensive list of available cryptocurrency pairs, compared to other midsized platforms. Currently, there are more than 60 active markets, which is great for those who want to engage in tranquil trading, without the whales coming to the platform and messing the price action up. Although, BitMax is not suitable for the trading approach called scalping because of its relatively high taker/maker fee of 0.04%.
I don't get the whole fuss about the Asian cryptocurrency exchanges. Sure, they are more focused on the target audience (Asian traders), but at the same time, offer really lucrative fees. Take EXX, for instance. Sure, some users might not feel at home there, or even say that they are being discriminated against (what a bunch of nonsense). But the real trader should think about profits first, and give EXX the due credit for imposing very merciful fees. If you don't get it, then change the occupation.
Virtuse exchange is a scam, beware! I had some hope for Virtuse, but apparently it is a scam. The site functions well and sucks you in. However, if you try to withdraw your funds, they do not send it to you. They send it to themselves and who knows where else. Trace through where it goes. In the end, it does not go to the proper destination. At least $50 went to the exchange, but none went to my wallet. Don't know where the rest went. They do not respond to support tickets. They do not respond to their built in chat. They do not respond to Tweets. Today, the exchange took all funds and all digital assets. Do not use this site!
I began my trading path on Binance, being attracted by its marketing campaign. Everything was fine, but I am the type of person who's always looking for something new, a better deal. One day, I have stumbled upon CoinBene and found out that their fees are even lower than the ones charged by Binance. 0.05% trading fee on CoinBene, if paid in platform's native token CONI, definitely trumps Binance's 0.75%, paid with BNB. One doesn't have to be a rocket scientist to figure out what I did next.
My funds disappeared, and I can not contact anyone, no support, am not sure if they have technical issues or just a scam.
If you aren't trading significant amounts of crypto - for instance, if your trading balance doesn't exceed $20 thousand - then you would be a fool to ignore Bibox since it has a very favorable fee structure. After Binance had reduced its trading fee discount by 25%, cutting it down from 50% to 25%, I have moved a substantial part of my trading portfolio to Bibox. After a couple of months of trading, I can say that I am 95% satisfied.
They are not sending my money out, no response when I try to contact them.
|Exchange||Volume change, 24h|