Quote from: 81AleksandrKra on November 14, 2019, 07:51:58 PM

Quote from: its-a-me-mario on November 07, 2019, 11:19:57 PM

Alright moving past the fact that this post is an obvious not-so-subtle advertisement for Coinsbit...

Everyone makes the mistake of using a smaller exchange, and everyone eventually gets burned. Hacks, exit scams, liquidity problems, you name it. Don't trust your money with small unknown exchanges.

Personally, I stick to exchanges that:

are based in the US
are registered with FinCEN as an MSB
don't report fake volume
have a long-running history of being reputable (or at least have never gone down or experienced a noteworthy security issue)

Being registered as an MSB is huge. It not only shows they're serious about being compliant w/regulatory concerns, but MSBs are required to do a lot of practices that help protect consumers and prevent money laundering and other nonsense.

We've all seen the Bitwise report on fake volume by now. Don't trust your money with an exchange that is gaming its own order books, you're the pawn who loses in this game. You can see the list of exchanges that don't game their order books here https://www.bitcointradevolume.com/.

So really if you're in the US your only reliable options (IMO) are:

Coinbase
Coinbase Pro
Gemini
Kraken
Bittrex
ItBit
Bitflyer
Binance US

On the one hand, you speak correctly. Using small exchanges is fraught with risks. But on the other hand, we remember stories about such exchanges as MtGox, BTC-e ... Therefore, there is no reason to believe Binance and not to believe Coinsbit.

Mt Gox was run by a guy who had no history of running any sort of exchange or fintech company. Binance's CZ was former CTO of OKCoin, there is absolutely no comparison here.