What are some drawbacks related to Bitcoin exchange?

porter
Posts: 7
Joined: Fri Apr 07, 2017 12:00 pm

What are some drawbacks related to Bitcoin exchange?

Mon Apr 24, 2017 7:44 am

As Bitcoin exchange is a revolution in economic structures of the world. What are some drawbacks related to Bitcoin exchange?
hendo
Posts: 173
Joined: Thu Apr 06, 2017 10:48 am

Re: What are some drawbacks related to Bitcoin exchange?

Mon Apr 24, 2017 10:33 am

Bitcoin is a relatively new currency. some issues that are being linked with this currency are:
- low acceptance in the financial matters
- Instability - the prices are highly volatile
- Lots of imperfect features that need to be upgraded, etc.
paranoidGlitch
Posts: 256
Joined: Wed May 03, 2017 7:38 am

Re: What are some drawbacks related to Bitcoin exchange?

Wed Sep 13, 2017 10:25 am

exchanges play as a third party in transactions cz they are indirectly owning your bitcoins.
pual
Posts: 116
Joined: Tue Sep 05, 2017 5:59 am

Re: What are some drawbacks related to Bitcoin exchange?

Wed Sep 13, 2017 10:25 am

exchanges are very vulnerable to hackers' attacks.
phil
Posts: 168
Joined: Thu Apr 06, 2017 8:52 am

Re: What are some drawbacks related to Bitcoin exchange?

Wed Sep 13, 2017 10:26 am

most of the exchanges provides you with low privacy.
Ray
Posts: 147
Joined: Sat Apr 08, 2017 8:23 am

Re: What are some drawbacks related to Bitcoin exchange?

Wed Sep 13, 2017 10:26 am

there are exchanges that have high fees.
reebrilliant
Posts: 208
Joined: Wed Apr 26, 2017 8:37 am

Re: What are some drawbacks related to Bitcoin exchange?

Wed Sep 13, 2017 10:27 am

the client doesn't knows the private key of his wallet instead exchange has it. Which implies that your bitcoins are in someone else custody.
Reyes
Posts: 131
Joined: Sat Apr 08, 2017 6:13 am

Re: What are some drawbacks related to Bitcoin exchange?

Wed Sep 13, 2017 10:28 am

exchanges don't provide you any refunds in the case of losing bitcoins through some unknown means.
Reynolds
Posts: 129
Joined: Fri Apr 07, 2017 10:44 am

Re: What are some drawbacks related to Bitcoin exchange?

Wed Sep 13, 2017 10:29 am

the exchanges don't have very high level of security.
richardson
Posts: 108
Joined: Fri Apr 07, 2017 5:54 am

Re: What are some drawbacks related to Bitcoin exchange?

Wed Sep 13, 2017 10:30 am

some of the top exchanges are very slow.
rivera
Posts: 140
Joined: Fri Apr 07, 2017 5:45 am

Re: What are some drawbacks related to Bitcoin exchange?

Wed Sep 13, 2017 10:31 am

a bad interface can also be a drawback of exchanges.
robb
Posts: 110
Joined: Sat Apr 08, 2017 11:25 am

Re: What are some drawbacks related to Bitcoin exchange?

Wed Sep 13, 2017 10:31 am

some of the exchanges have very low limits of bitcoin purchases.
dragonmax
Posts: 212
Joined: Wed Apr 26, 2017 8:56 am

Re: What are some drawbacks related to Bitcoin exchange?

Thu Sep 14, 2017 7:13 am

There is no central bank for bitcoin.
truelegend
Posts: 134
Joined: Tue Sep 05, 2017 7:48 am

Re: What are some drawbacks related to Bitcoin exchange?

Thu Sep 14, 2017 7:14 am

Hacker mostly hack from exchange sits because it is easy to make fraud on that side.
dynastyQB
Posts: 204
Joined: Wed May 03, 2017 7:17 am

Re: What are some drawbacks related to Bitcoin exchange?

Thu Sep 14, 2017 7:14 am

Transaction cannot reverse for any reason.
evilzero
Posts: 199
Joined: Wed May 03, 2017 7:20 am

Re: What are some drawbacks related to Bitcoin exchange?

Thu Sep 14, 2017 7:15 am

Supply is not manipulated by any government.
shinedown
Posts: 81
Joined: Wed May 03, 2017 7:23 am

Re: What are some drawbacks related to Bitcoin exchange?

Thu Sep 14, 2017 7:15 am

Supply is not manipulated by any government.
walton12
Posts: 140
Joined: Wed May 03, 2017 7:24 am

Re: What are some drawbacks related to Bitcoin exchange?

Thu Sep 14, 2017 7:16 am

Most chance of fraud
myloman
Posts: 103
Joined: Wed May 03, 2017 7:26 am

Re: What are some drawbacks related to Bitcoin exchange?

Thu Sep 14, 2017 7:16 am

Have to keep in touch with the market.
adolchristin
Posts: 105
Joined: Wed May 03, 2017 7:28 am

Re: What are some drawbacks related to Bitcoin exchange?

Thu Sep 14, 2017 7:17 am

Yes you have to keep in touch with market otherwise you can get in loss.
azimiballer
Posts: 171
Joined: Wed May 03, 2017 7:31 am

Re: What are some drawbacks related to Bitcoin exchange?

Thu Sep 14, 2017 7:17 am

Pay for any new transaction.
chrome47
Posts: 108
Joined: Wed May 03, 2017 7:33 am

Re: What are some drawbacks related to Bitcoin exchange?

Thu Sep 14, 2017 7:17 am

Yes In exchange site you have to pay for any new transaction.
Kennedy
Posts: 149
Joined: Fri Apr 07, 2017 12:55 pm

Re: What are some drawbacks related to Bitcoin exchange?

Tue Sep 19, 2017 6:31 am

There are many drawbacks of bitcoin exchange.
kevin
Posts: 147
Joined: Thu Apr 06, 2017 8:09 am

Re: What are some drawbacks related to Bitcoin exchange?

Tue Sep 19, 2017 6:32 am

Bitcoin exchange is not secure as you think.
lahm
Posts: 243
Joined: Wed Apr 19, 2017 7:28 am

Re: What are some drawbacks related to Bitcoin exchange?

Tue Sep 19, 2017 6:32 am

Hackers mostly attack on bitcoin exchange sites because at exchange site it is easy to hack on market.
laws
Posts: 129
Joined: Sat Apr 08, 2017 10:35 am

Re: What are some drawbacks related to Bitcoin exchange?

Tue Sep 19, 2017 6:33 am

You don’t have your bitcoin in exchange you just have a address of transaction which is paid.
lucas
Posts: 129
Joined: Thu Apr 06, 2017 8:45 am

Re: What are some drawbacks related to Bitcoin exchange?

Tue Sep 19, 2017 6:34 am

Yes in exchange u don't have ur bitcoin just the transaction address and you have to pay each new transaction because the it will expire after one transaction.
Ningergy
Posts: 139
Joined: Thu Apr 27, 2017 5:19 am

Re: What are some drawbacks related to Bitcoin exchange?

Tue Sep 19, 2017 6:34 am

Bitcoin Valuation Fluctuates is the big drawback if the person is busy and don't check the valuation then at any time price will fall and a big loss.
natasha
Posts: 143
Joined: Thu Apr 06, 2017 7:46 am

Re: What are some drawbacks related to Bitcoin exchange?

Tue Sep 19, 2017 6:34 am

Value Fluctuates in very short time.
nicholas
Posts: 127
Joined: Thu Apr 06, 2017 8:45 am

Re: What are some drawbacks related to Bitcoin exchange?

Tue Sep 19, 2017 6:35 am

No Buyer Protection is also a drawback
nishines
Posts: 200
Joined: Wed Apr 26, 2017 8:53 am

Re: What are some drawbacks related to Bitcoin exchange?

Tue Sep 19, 2017 6:35 am

Risk of Unknown Technical Flaws
Ortiz
Posts: 168
Joined: Fri Apr 07, 2017 11:17 am

Re: What are some drawbacks related to Bitcoin exchange?

Tue Sep 19, 2017 6:36 am

No Valuation Guarantee

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