O.K. First, full disclosure. I was one of the idiots who lost cryptocurrency to Cryptsy. It seemed legitimate to me at the time but in hindsight very small to no transaction fees should have been a warning sign. Also, long delays and problems making immediate withdrawals should have been a sign also but I bought the constant "maintenance" excuse from Cryptsy.
When I have to use a centralized exchange now I use Poloniex. However, there are decentralized peer-to-peer alternatives for cryptocurrency exchange such as openbazaar. Also, when trading ethereum tokens a "trustless" smart contract dapp such as etherdelta or forkdelta minimizes the risk of scam or fraud to near zero (as long as you are using the right contract addresses).
O.K. First, full disclosure. I was one of the idiots who lost cryptocurrency to Cryptsy. It seemed legitimate to me at the time but in hindsight very small to no transaction fees should have been a warning sign. Also, long delays and problems making immediate withdrawals should have been a sign also but I bought the constant "maintenance" excuse from Cryptsy.
When I have to use a centralized exchange now I use Poloniex. However, there are decentralized peer-to-peer alternatives for cryptocurrency exchange such as openbazaar. Also, when trading ethereum tokens a "trustless" smart contract dapp such as etherdelta or forkdelta minimizes the risk of scam or fraud to near zero (as long as you are using the right contract addresses).
Thanks... for letting me know. I used Poloniex before. Looking forward to a better decentralised exchange in the future.