don't pay attention to the spread... there are actually plenty of willing buyers and sellers it's just reasonable orders don't last long on orderbook or just don't show up on orderbook... 
what i like about fybsg is there's this element of bargaining involved... try putting up bids slightly closer to asks and see what happens and vice versa... about itbit i totally agree even i myself being local resident keep running into issues with this exchange so i'm not surprised about your experience with them...i also find their fees totally ridiculous..
ive actually tried using the local ones fybsg localbitcoins coinbase yada yada. i dont have an analysis but honestly i thought the spreads werent quite right. or then when i bought. you can do a quick comparison with the ask prices on foreign exchanges, less fees etc, and im pretty sure you can still get a better deal not buying from local.
itbit takes too long (my deposits couldnt get through, and other administrative hassles), bitstamp account verification process was extremely frustrating for me, by far bitfinex is the fastest (cash deposits took about two days to get through), least hassle, fees are prob also the lowest. not to mention the swaps are useful features.
what i like about fybsg is there's this element of bargaining involved... try putting up bids slightly closer to asks and see what happens and vice versa... about itbit i totally agree even i myself being local resident keep running into issues with this exchange so i'm not surprised about your experience with them...i also find their fees totally ridiculous.. he probably just glanced through and made conclusions... lol.. anyway both exchanges offer good liquidity however there are cons and pros in that. itbit offers better liquidity but only because it's entirely driven by market maker model which means supply of coins will vanish as soon as prices start dropping and market maker pulls off to avoid losses, i don't know about you but i prefer to trade in market condition driven environment.. so forget about buying cheap coins in times of panic sells itbit is not that place. It also offers one of the most inadequate and unresponsive support which can take a day or two before replying. now the worst part about itbit is they lock in your coins for 24hrs before you're able to withdraw so i think that's kinda dictatorial and a big no no to me... on the other hand fybsg has lesser volume yet has more dispersed buyers and sellers of various backgrounds that naturally respond to market conditions and have no maker taker driven greed. Besides you can always get instant reply from its founder and i can withdraw my coins in minutes and get withdrawals in a day time... so fybsg wins hands down for me... btw i also have account on bitfinex..
Have u used it?
Someone on this thread says they are doing market making and faking the orders.
+ 1 bitfinex
spreads on the local sites are quite ridiculous
spreads on the local sites are quite ridiculous
Have u used it?
Someone on this thread says they are doing market making and faking the orders.
ive actually tried using the local ones fybsg localbitcoins coinbase yada yada. i dont have an analysis but honestly i thought the spreads werent quite right. or then when i bought. you can do a quick comparison with the ask prices on foreign exchanges, less fees etc, and im pretty sure you can still get a better deal not buying from local.
itbit takes too long (my deposits couldnt get through, and other administrative hassles), bitstamp account verification process was extremely frustrating for me, by far bitfinex is the fastest (cash deposits took about two days to get through), least hassle, fees are prob also the lowest. not to mention the swaps are useful features.