If an exchange is not honest there are a number of ways thay users can be burned by high trading fees, low liquidity, making it difficult to withdraw funds, or even disappearing in an exit scam.
Remember: your private keys to your funds are your power. Once you send those funds to an exchange you are 100% trusting them with your funds, many unregulated exchanges have no insurance and you have no recourse if they pull a MtGox and go belly up.
All the above have over 50M 24h BTC trading volume on a given pair and i wonder if someone has experience with them.
Next thing that would be interesting is how everybody is cashing out? I personally never cashed out anything so far, but of course at some point this is unavoidable. So what exchange are you guys using for cash out?
great topic-important I think
I have signed up for many accounts as I had to for availability of the trading pairs that I was purchasing. many of these accounts are otherwise superfluous.
a couple of favourites of course are Binance & Bittrex.
the useful ones for obscure coins to purchase when freshly minted would be:
Stocks Exchange (has to get the prize for “most improved”) but it was terribly slow to show deposits in it’s early days
Cryptopia of course- the exchange people love to hate
I have used many others but so seldom that I have no comment
there is just one exchange that I would issue a warning against ever using.
I discovered Yobit when I was interested in arbitrage and so sent available funds from other accounts to Yobit to take advantage of a 'discounted price" however after buying the coin I discovered that the wallet “is under maintenance” and I cannot withdraw my coins . then I look further and find this is the case with most all the coins traded there.
basically they hold your funds hostage -the situation hasn’t changed in over six months - support tickets are answered with passing blame to the coins developers not updating the wallet. I’ve spoken with the developers and they claim that they are just ignored and want to take the exchange to court. good luck prosecuting an exchange in Russia.
search online finds similar claims. google ‘Yobit scam’ brings up many similar reviews