Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Crypto Exchanges => Topic started by: Zed0X on October 02, 2019, 06:44:06 PM
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They used to be one of the exchanges that I trade with but the continuous decline of users and coin/token listing has forced them to shutdown. The possible reason for the decline is the high listing and withdrawal fees they charged . They blame the market condition but I think they failed to adjust with the changes in the crypto exchange markets. If ever you still have coins or tokens there, better withdraw it now.
It is with great regret that we must inform the community that the board of directors of CoinExchange.io has decided to close down the exchange.
This is purely a business decision and there has not been a security breach or any other type of incident. Unfortunately it is no longer economically viable for us to continue offering market services. The costs of providing the required level of security and support now outweigh our earnings.
Trading and deposits will be suspended on the 15th of October 2019. Please cease any deposit and trade activity as soon as possible.
The website and withdrawals will remain operational until the 1st of December 2019. We ask that you please remove all funds by this date.
It has been a fantastic journey and we have enjoyed playing a part in the crypto currency space. We thank everyone that has traded or listed a currency with us.
So sadly it is goodbye for now however we may return in the future if market conditions change.
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I heard about it today, but i have never traded in this exchange. I think there are still too many exchanges in the cryptos world.
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Another victim of the long bear market huh? This exchange has been here for a while but I wonder why they were unable to outgrow the likes of Yobit who has been accused many times of pumps and dumps? I guess they failed to innovate and maybe remained greedy. They have not seen the influx of new exchanges that offers the same or better services than them but with less or even zero fees. As a trader, who would not want a decent exchange with lower fees?
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In think that the long bear is not good reason for them to even plan to shut down. The best practices for modern exchanges to keep operating in recent time is constant adjustment to certain policies to meet the demand or desires of their customers world wide. I think if some of these strict policies are not properly addressed, exchange will begin to loose ground and force to close because new exchanges are coming with much more attractive offers to their customers. For example, transaction fees/ traing fees.