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BTC-E has been seen by the Bitcoin community as "shady" for years. People have always recommend others to avoid using it. It was rumored to be an easy place to

by mrb 9y ago

BTC-E has been seen by the Bitcoin community as "shady" for years. People have always recommend others to avoid using it. It was rumored to be an easy place to sell stolen Bitcoins. It has always offered strangely convoluted pathways to transfer fiat to financial institutions (see http://bitcoinworldwide.net/how-to-deposit-money-into-btc-e http://bitcoinworldwide.net/how-to-deposit-money-into-btc-e). I'm glad BTC-E finally got taken down. I am not surprised it was involved in illegal activities. One less shady Bitcoin company. Now the top 12 or so volume-ranked Bitcoin exchanges listed at https://cryptowat.ch https://cryptowat.ch are perfectly legitimate trustworthy companies. The ones I'm not sure about are CEX.IO and Luno (not saying they aren't trustworthy, I just don't know them that well) and, well, Bitsquare which as a decentralized exchange is bound to have some shady participants.

Dolores12 9y ago
Any cryptocoin exchanger is involved in criminal activity, because criminals have to sell their stolen coins as fast as possible. And you find out that you were a part of criminal activity only afterwards...
stepik777 9y ago
If you want to exchange cryptocurrency for USD then sure, those other exchanges are better. But not everyone wants USD.
strgrd 9y ago
> It has always offered strangely convoluted pathways to transfer fiat to financial institutions Your link is not evidence of "strange convolution." The reason there are so many steps/screenshots is because the payment service is in Russian, and the guide is designed for non-Russian speakers. Most people never dealt with fiat on BTC-e, and would use someone like Coinbase to fund the purchase of coins, and trade exclusively in crypto on BTC-e. > Now the top 12 or so volume-ranked Bitcoin exchanges listed at https://cryptowat.ch https://cryptowat.ch are perfectly legitimate trustworthy companies. BTC-e was number six on that list...

by mrb 9y ago

Dolores12 9y ago

Any cryptocoin exchanger is involved in criminal activity, because criminals have to sell their stolen coins as fast as possible. And you find out that you were a part of criminal activity only afterwards...

stepik777 9y ago

If you want to exchange cryptocurrency for USD then sure, those other exchanges are better. But not everyone wants USD.

strgrd 9y ago

> It has always offered strangely convoluted pathways to transfer fiat to financial institutions Your link is not evidence of "strange convolution." The reason there are so many steps/screenshots is because the payment service is in Russian, and the guide is designed for non-Russian speakers. Most people never dealt with fiat on BTC-e, and would use someone like Coinbase to fund the purchase of coins, and trade exclusively in crypto on BTC-e. > Now the top 12 or so volume-ranked Bitcoin exchanges listed at https://cryptowat.ch https://cryptowat.ch are perfectly legitimate trustworthy companies. BTC-e was number six on that list...