Personal Finance

What crypto services do you trust?

  • Last Updated:
  • Dec 4th, 2019 7:20 pm
[OP]
Newbie
Nov 30, 2019
1 posts
1 upvote

What crypto services do you trust?

This question is of particular concern to me, especially after the recent news about the theft of $50 million from Upbit. I mainly use bittrex.com and freewallet.org. What services do you trust?
12 replies
Deal Addict
User avatar
May 28, 2006
1008 posts
92 upvotes
Toronto
yetiho wrote:
Dec 1st, 2019 12:11 pm
This question is of particular concern to me, especially after the recent news about the theft of $50 million from Upbit. I mainly use bittrex.com and freewallet.org. What services do you trust?
Shakepay is a good Canadian platform for buying Bitcoin
Heatware/HoFo upon request
Deal Addict
Jan 2, 2015
1408 posts
438 upvotes
Toronto, ON
Not your keys, not your coins.

Cryptocurrency is, IMO, a failed experiment. It was supposed to have technology deal with trust issues, but that doesn't work when people continue to use centralized exchanges. Cryptocurrency is confusing and complicated enough that many users end up losing coins by themselves, without the "assistance" of a con artist. Getting fiat money into the system is hard, because either you have to prove who you are (eliminating the secrecy that many crypto fans are obsessed with) or you have to deposit the money into an account in Panama or Poland and pretend it's a real estate transaction... then act shocked (shocked!) when the "payment processor" runs away with your cash. Cryptocurrency is unregulated or barely regulated, attracting anti-government types, who will then turn to the government for help when they get ripped off.

The technology works. Unfortunately, scammers love being able to get money from you without a way to trace it. Exchanges love doing "fake trades". Scammers literally mock their victims (slightly NSFW), and so forth.
Newbie
User avatar
Feb 16, 2014
80 posts
30 upvotes
yetiho wrote:
Dec 1st, 2019 12:11 pm
This question is of particular concern to me, especially after the recent news about the theft of $50 million from Upbit. I mainly use bittrex.com and freewallet.org. What services do you trust?
QuadrigaCX
Last edited by b33zlebub on Dec 2nd, 2019 9:18 pm, edited 1 time in total.
Deal Fanatic
Mar 10, 2005
7850 posts
2212 upvotes
Shakepay
"Leaders who don't listen will eventually be surrounded by people who have nothing to say"
Newbie
Feb 18, 2019
74 posts
61 upvotes
b33zlebub wrote:
Dec 2nd, 2019 6:47 pm
QuadrigaCX
Face With Tears Of Joy.
I'll give another vote to ShakePay for buying BTC / ETH (which is what it's meant for). It's fast and they are super friendly.
I wouldn't be leaving coins in ANY exchange though.
Sr. Member
User avatar
Dec 21, 2007
652 posts
160 upvotes
Scarborough
The whole point of crypto is to not have it held by a bank or other entity. Unless you are day trading, there is zero reason to keep any of it on an exchange. Buy a hardware wallet or use paper wallets.
I am the Stig's brother's cousin's friend's former roommate.
Deal Addict
Jan 10, 2017
1214 posts
541 upvotes
GTA
I use coinberry for buying, storage is preferred in a personal wallet. If the money is being kept with a third-party, its only there for a short amount of time.
Information Security Analyst
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Thread
Newbie
May 17, 2017
3 posts
1 upvote
Toronto
Says everyone who didn't buy at $9 and it's now at $9K.

Like every financial gamble, spend what you are prepared to loose. I use BitBuy.ca. I don't really trust any exchange, but at least they tell you to move your crypto to your own wallet instead of leaving it on the exchange.

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