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I've been trading on this site for about a week. It does indeed have dozens of cryptocurrencies, many more than any other site I've seen. That's good and bad.
by waterlesscloud 13y ago
I've been trading on this site for about a week. It does indeed have dozens of cryptocurrencies, many more than any other site I've seen.
That's good and bad. It's good to have a marketplace for them all. Nothing wrong with offering a place sell whatever. It's bad in that the vast majority of them are junk coins and will die in short order.
You shouldn't even consider trading in this world of alt-coins unless you know what you're doing. You should research each of them thoroughly and do your due diligence. You stand a very good chance of losing most of your investment in this sort of market.
They're really like pink sheet stocks, which I traded back a decade or so ago. I enjoyed that world, with its community of traders researching tiny, tiny, TINY companies to invest in. But like Pink Sheets, altcoins are the very definition of high risk. Even worse than pink sheets, altcoins are wholly unregulated and some may be outright scams.
As for the site itself, it's had some serious growing pains the last few days. Nearly unusable at times, and last night entire order books were somehow wiped, which caused some confusion and some VERY sharp changes in price.
I think the founder is making a legitimate attempt at things, he may or may not be up to it.
I'm having fun, and making a bit of money, but I can't recommend anyone else try it just yet.