Watch Out for Trend of Running Away by Small Exchanges!

Cryptocurrency trading is rife with profits and pitfalls. Some small exchanges summarized and presented herein have planned to run away because of the turmoil of the market and the stronger regulation recently.

Hotbit: The exchange claims that its users in some regions cannot trade and top up via their accounts due to its adherence to rules and regulations in these areas. Clients have complained that Hotbit has induced users to make deposits by sharing trading plans and tactics and made withdrawals unavailable.

BiKi: The exchange has ceased to provide its users in certain regions with services, including contracts, over-the-counter (OTC) trading, and leverage, coupled with the removal of some trading pairs and the cessation of related recharge operations. Clients have complained that BiKi has manipulated users accounts.

Monster: The exchange claims that the access to IP in some regions is ceased because of its abidance by related rules and regulations. Clients have complained about Monster as a pyramid scheme.

Excuses for exchanges above-mentioned to run away are seemingly reasonable. Yet in fact, they are recently established, featuring ineffective regulation at present.

Great changes in exchanges will happen in 2021 after turmoil, causing more small exchanges to run away. However, this is good news as investors turn to major and famous exchanges, which can step up the standardization of the market. In addition, you are well recommended to withdraw as early as you can to prevent yourself from losses.

As a reminder, WikiBit is ready to help you search the qualifications and reputation of projects in a bid to protect you from hidden dangers in this risky industry!