Exchanges are even worse than banks.
They are basically companies/banks without any government support. If they go bankrupt, you are fucked. If they steal from you, you are fucked.
I don't even trust banks in my country. How can you put your life savings in an exchange which is located in somewhere far away from your country and which you don't know anything about?
Now you have to find a good lawyer and i don't think there will be anything left from that 20k$ when everything is over. That's it if you can't solve your problem with the customer support.
Exchanges can randomly seize the suspicious money from the users. Suspicious to who? How? Nobody knows.
They are basically companies/banks without any government support. If they go bankrupt, you are fucked. If they steal from you, you are fucked.
I don't even trust banks in my country. How can you put your life savings in an exchange which is located in somewhere far away from your country and which you don't know anything about?
Now you have to find a good lawyer and i don't think there will be anything left from that 20k$ when everything is over. That's it if you can't solve your problem with the customer support.
Exchanges can randomly seize the suspicious money from the users. Suspicious to who? How? Nobody knows.
good point. there only few exchangers who are financial licensed but Kraken is NOT one of them. The people must be brainwashed or child to use a such company. a financial licensed company has a real office, real contacts, they have bonds as guarantee for losses, audits and so on.
it's beyond any imagination how someone can use Kraken, BTC-e , Bitfinex, Poloniex and others like them. Use a financial licensed exchanger !!!
