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?

Postby porter » 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: 96
Joined: Thu Apr 06, 2017 10:48 am

Re: What are some drawbacks related to Bitcoin exchange?

Postby hendo » 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: 112
Joined: Wed May 03, 2017 7:38 am

Re: What are some drawbacks related to Bitcoin exchange?

Postby paranoidGlitch » Wed Sep 13, 2017 10:25 am

exchanges play as a third party in transactions cz they are indirectly owning your bitcoins.

pual
Posts: 48
Joined: Tue Sep 05, 2017 5:59 am

Re: What are some drawbacks related to Bitcoin exchange?

Postby pual » Wed Sep 13, 2017 10:25 am

exchanges are very vulnerable to hackers' attacks.

phil
Posts: 82
Joined: Thu Apr 06, 2017 8:52 am

Re: What are some drawbacks related to Bitcoin exchange?

Postby phil » Wed Sep 13, 2017 10:26 am

most of the exchanges provides you with low privacy.

Ray
Posts: 76
Joined: Sat Apr 08, 2017 8:23 am

Re: What are some drawbacks related to Bitcoin exchange?

Postby Ray » Wed Sep 13, 2017 10:26 am

there are exchanges that have high fees.

reebrilliant
Posts: 97
Joined: Wed Apr 26, 2017 8:37 am

Re: What are some drawbacks related to Bitcoin exchange?

Postby reebrilliant » 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: 66
Joined: Sat Apr 08, 2017 6:13 am

Re: What are some drawbacks related to Bitcoin exchange?

Postby Reyes » 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: 58
Joined: Fri Apr 07, 2017 10:44 am

Re: What are some drawbacks related to Bitcoin exchange?

Postby Reynolds » Wed Sep 13, 2017 10:29 am

the exchanges don't have very high level of security.

richardson
Posts: 42
Joined: Fri Apr 07, 2017 5:54 am

Re: What are some drawbacks related to Bitcoin exchange?

Postby richardson » Wed Sep 13, 2017 10:30 am

some of the top exchanges are very slow.

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