small crypto exchanges and hacks

[KryptoBull]

I think is very risky to trade on small exchanges especially with large capital. I will advice that trading on small CEX exchanges should be with small capital because the can easily go insolvent.
I have an experience with a small CEX exchange few months ago where almost every users had complained of withdrawal issues but the keep promising users that everything was fine. As a long time user with some of these CEX exchanges, i wrote them several times about my withdrawal issues and even indicated that the exchange could go insolvent because users are stranded on withdrawals predicaments, unfortunately they deleted my KCY information and stopped replying my mails.
As at today, the small exchanges has crashed, worst still, I have not withdrawal my coins, though very small, but I was mindful to that fact that they will definitely crash. The most funny part after crash was that i have to complete KYC again to withdraw my tokens even when it is obvious that everything is not working

Many small CEXs are conducting loud promotional campaigns to attract users, but I usually skip them to prioritize the safety of my assets. I don't want to encounter the same problems as you; they're really troublesome and time-consuming.

Binance, Bybit, OKX... we have plenty of more reputable options with better liquidity, more trading pairs, and more exciting services. There's no reason for us to risk it with small and less-known CEXs. I might consider using them in the future if they become more established.

[New Ranger]

Binance, Bybit, OKX... we have plenty of more reputable options with better liquidity, more trading pairs, and more exciting services. There's no reason for us to risk it with small and less-known CEXs. I might consider using them in the future if they become more established.

That's why big platforms are getting bigger because they prioritize the security of their users but they still have the drawback that the custody of our money is still in their hands.

[TomPluz]

There's no reason for us to risk it with small and less-known CEXs. I might consider using them in the future if they become more established.

In the past, I only went to small CEXs whenever a certain coin/token I want to sell can only be done with them otherwise I always prefer bigger exchanges because I am assuming they are more invested with security measures and if ever they can be hacked there are safety nets laid down to protect the users or the victims. Smaller exchanges should do some partnerships with many new projects that their coins/tokens be exclusively initially available to be traded only in their platforms and then slowly invest with security measures so as to gain the trust and confidence of cryptocurrency users and traders.

[Bobcrypto]

Binance, Bybit, OKX... we have plenty of more reputable options with better liquidity, more trading pairs, and more exciting services. There's no reason for us to risk it with small and less-known CEXs. I might consider using them in the future if they become more established.

That's why big platforms are getting bigger because they prioritize the security of their users but they still have the drawback that the custody of our money is still in their hands.

Small exchanges are very risky, many of them don't have FAQ or even listen to users advise. I have used some small exchanges because of certain rewards, however many smaller exchanges lack consistency, and trading activities. I think most small exchanges are not likely to improve on their community growth because low capital for ING and promotions, and as we know, without large number of users, many of these small exchanges may become insolvent due to poor revenue generated.
It is important to that note big Cex exchanges spend much money to get what they wanted over times. They are constantly running promotions and marketing activities to compete with each others and remain a top exchange globally.

[rdluffy]

In the past, I only went to small CEXs whenever a certain coin/token I want to sell can only be done with them otherwise I always prefer bigger exchanges because I am assuming they are more invested with security measures and if ever they can be hacked there are safety nets laid down to protect the users or the victims. Smaller exchanges should do some partnerships with many new projects that their coins/tokens be exclusively initially available to be traded only in their platforms and then slowly invest with security measures so as to gain the trust and confidence of cryptocurrency users and traders.

Exactly
Many here are younger and don't remember what it was like in the past

Today we have many exchanges, dex, aggregators, various networks etc, but a few years ago we had to go to small exchanges to trade very new coins or those with little marketcap
I remember Cryptopia and TradeOgre, which I used a lot when I was mining unknown coins.
You could make good money that way

It was expensive to get out of the exchange with BTC and many of us used LTC, XRP, XMR etc hahaha