Post
Topic
Board Trading Discussion
Re: What are the disadvantages of cryptocurrency exchanges?
by
iv4n
on 02/03/2019, 15:25:12 UTC
Every day the popularity of cryptocurrencies is increasing. Millions of people – traders, politicians, financiers, analysts-follow the dynamics of their rates. However, nowadays, the use of digital assets is difficult. Even the purchase and exchange of cryptocurrencies are associated with problems - currency rates on different platforms are very different, and a solid commission is charged when withdrawing funds.
I first selected the no KYC requirement because this is my best concern when I want to register on an exchange, I rather split my coin between different exchange and trade within the limit set by this exchanges than to carry out a KYC process which is also the main reason crypto was created to fight against.

I also selected low trading fees because most exchange has hilarious trading fees and I believe a DEX with a very low trading fee would be nice.

Over the time we all have to do kyc, to verify somewhere if we wish to continue with using their service. I avoid doing that, like you I split my amount and I trade on several exchanges. Exchanges are working under a law of the country where they are registered, I don`t think it`s disadvantage, for some it is, but it`s more like a minor obstacle. Who from us doesn`t like low trading fees, it`s sure advantage for traders.