You can find hundreds of tips on the best cryptocurrency exchange in the market, but you’ll hardly find any list of the worst cryptocurrency exchange or the exchange you should never put your money in. These exchanges are shady. They hide in plain sight and run away with your money seamlessly.
Worst Cryptocurrency Exchanges to Invest in
1. Paxful Cryptocurrency Exchange
Users around the industry have made angry reports about Paxful scamming them. Some claim that the cryptocurrency trading exchange is governed by a corrupt CEO who rips people off stealing their accounts from them. Some others have complained that the traders on Paxful scam each other and do not interfere in bogus deals. Please, stay safe by staying far away from Paxful.
2. Bitcoin Platinum
This is a scam cryptocurrency exchange that was allegedly developed as a prank by a teenager in South Korea. The platform claims to have a hard fork of Bitcoin core, and it has caused a lot of controversy in the system. Sources say that those behind the Bitcoin Platinum exchange spread propaganda about a hard fork of Bitcoin that isn’t in existence to reduce the price of Bitcoin.
Many other exchanges aren’t outright scams but aren’t trustworthy either. Make sure that you stick to only exchanges that have good reputations. Check out our list of the top exchanges for trading bitcoins, Ethereum and Litecoin. These exchanges don’t secure your coins in a cold wallet; they give you peace of mind.
Make sure that the exchange you choose allows you to purchase Bitcoins without verification. When you invest anonymously, you safeguard yourself more against theft. Also, go for exchanges that have 2-factor authentication enabled to help you secure your account even more.
Listen to cryptocurrency news daily, to stay aware of what is happening in the industry. You will learn the real reasons behind price crash and other details. An informed person will be less likely to fall for a scam.