Major Problems in Cryptocurrency Exchanges - Encrybit Survey Revealed

in cryptocurrency •  7 months ago


Security is the main concern for any crypto trader or investor while trading on an exchange platform. This is because cryptocurrency exchanges are still being hacked. Apart from security, there are many other concerns troubling the trader and it’s necessary to understand those major issues. Do you want to know what are they?

We at Encrybit conducted an online survey to gather the trader’s opinion on issues faced and expectations from a cryptocurrency exchange with an aim to develop the people’s exchange. Majority of the traders are concerned about the security of their crypto on exchanges. Do you agree with this?

Let’s see what other real-time cryptocurrency trading problems are:

• 40% of participants said that security is a major concern.
• 37% said high trading fees are the chief hurdle.
• 36% mentioned lack of liquidity as a concern.
• 33% of the participants say that unethical response time from exchange support team on issues like account suspension, 2fa issues, withdraw and deposit information, missing funds while trading.
• 22% complained about a lack of crypto pairs hindering good quality trading options.
• 21% said current exchanges are not user-friendly and have a non-interactive platform user-interface.
• 18% are upset with high withdrawal fees.
• 9% opted for nothing and a few had no idea about the issues on the trading platform.

That’s not all, we have received other statistical data from a partner organization as well. know more interesting stuff about unveiled from the survey results here.

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