Post
Topic
Board Economics
Re: Why can't we have a good cryptocurrency exchange?
by
BlueStackz
on 15/05/2019, 09:18:40 UTC
Ima be blunt, based on the fact that loads of people are still without exchanging trade pairs because the likes of binance and such have decided to close deposits indefinitely (gcse computer science and business for us teaches how to develop disaster recovery regimes) so the fact that high profit exchanges can't do it is just off.

Most of these exchanges do stuff with customers money too while on there especially if they haven't withdrawn for a long time. Coinbase, poloniex, bitmex and binance I believe will all be susceptible to this, as well as bitfinex who have already proven how great their money management strategies are (I luckily only had a dollar on there at the time of that hack)...
We have lots of big exchanges in the market which Binance is still the best of them, and for the fact that they are being subjected to hacking doesn’t really warrant that we term them bad exchanges, they have their security in place but there is never a system that doesn’t have that little loop holes.

It is just unfortunate that Binance loop hole created a very big mess for them which they are trying to strategically clear off to protect their coin from being dumped, which is why they place deposit and withdraw suspension on their user’s account, they just need few more times to handle these security issue and they will open up the platform again.