I am a Forex trader who learn't about the cryptocurrency phenomenon late in the game in my opinion.
Exciting, new, not really regulated by governments, free to own and use anonymously by all from anywhere around the free and not so free world, highly profitable and gaining respect worldwide. This is the hype that sucked me in like a vacuum cleaner into these beasts called Bitcoin, Ethereum, Litecoin, Embercoin etc. etc. etc.
Nobody warned me about the chaos and treachery that was ahead. Everybody is so busy with their own greedy ambitions to own a piece of the cryptocurrency craze that no-one seems to have the time to STOP and really tell about their real experiences in acquiring these highly sought after commodities.
Well here's the real deal. From here onwards I will tell you what I and a few others are experiencing right now in some of the most popular currency Exchanges. The truth will set you free OR prevent you from going crazy or broke overnight.
BE WARNED!! - If you live in a fairy land do not read any further. Continue basking in the sea of make-believe.
At the time of writing this article I am personally awaiting word of the status of a withdrawal transaction I have been attempting to have completed since Oct 12th 2017 and it is now Saturday Oct 14 local Caribbean time. I have had no response from the admin of an exchange called Cryptopia. Not a word to tell me where my money is or how long I would have to wait. This is the TRUTH.
Now tell me this... if you went to a bank and deposited your money with said bank, then came back the next day to withdraw some or all of your money, only to be told NOTHING. No customer service representative to say "sir/madam we apologise for the delay, we will be with you shortly". You are just left standing in the bank waiting and waiting. You see the staff leave and the bank closed with you and your money still inside it... how would you feel, what would you think? - That is nothing so keep reading... There are others worse off than me.
I could have kept my mouth shut like most people but what help is that to any newbies caught up in the euphoria of owning cryptocurrencies?
Message to Exchanges: We are your customers dammit. Stop seeing us as Moths stupidly attracted to your Flame Offerings!
(Public usernames shown below as examples)
Meet ezekiel615 - Apparently he/she withdrew a fairly large amount of Nexus on 9/21 and have not yet gotten it
Meet ugge - Apparently he/she has a similar problem. Support ticket created, but still got no answer.
Meet obbamind - Apparently he/she sent spread coin(spr) 2 days ago (Oct 11 2017) from crip to bitrex. Now begging for help!
The list goes on and on and on...
If I am Telling Lies I will Give Any of You who are reading this $100 USD in Bitcoin Right Now!!... Just send me your address.
But that won't be necessary right because this is the stone cold Truth.
Now it is quite possible the above mentioned issues may be resolved and I do really hope so but the issue here is the quality of service which is nothing short of horribly lacking and totally unprofessional. If this is the kind of thing that is seen as normal and wide spread across the cryptocurrency world then I am sorry to say it but EXPECT HEAVY GOVERNMENT REGULATION at some point soon. This kind of thing will give customers reasons to complain to the moon to respective governments and eventually lead to the one thing which is so proudly touted as one of the best things about cryptos (No Heavy Government Regulations).
Get ready because at this rate it is coming Fast!
Here are some other links to the Truth listed below:
https://www.cnbc.com/2017/08/30/bitcoin-is-surging-in-price-and-popularity-but-so-are-the-complaints.html
Look at the complaints in this CNBC report of Fabio Maffioli, Jan Sommer and Jonny Douglas Smith.http://www.newsbtc.com/2017/08/30/coinbase-users-complain-issues-shortcomings/
I could go on with this list but I have to go and eat my lunch. Thanks for reading!
Please up-vote and spread the word.