Concerns About the Future of the Cryptocurrency Exchange Cryptsy Continue

6 Jan


In the last few months things with the crypto currency exchange Cryptsy haven’t been good at all, there have been a lot of complains from users that they cannot withdraw their coins and the support is not responding to them for days or solving their issues at all. Updates from Cryptsy regarding issues and user complaints haven’t been good either with mostly some reports claiming that the problems are caused by various technical issues. Users however are still reporting that they are not able to withdraw coins, mostly BTC, but others as well in either large or small amounts and thus concerns are rising about the future of the exchange. There are already speculations that Cryptsy is following in the footsteps of MtGox and it is just a matter of time before everything falls down. The exchange is reporting that the last 24 hour volume is about 264 BTC, so apparently quite a few users are still using it, but we would still advice you to try to get your coins out of the exchange if you have not initiated withdraws yet while you still might actually get something out. Some users had more success converting BTCs to other crypto coins and then withdrawing altocoins instead of directly withdrawing in Bitcoin, so you might try using multiple currencies and in multiple transactions to move any coins you might have in Cryptsy. We have not personally used Cryptsy for quite some time as there have been a lot of other more user friendly and problem free altcoin exchanges available for a while already…

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1 Response to Concerns About the Future of the Cryptocurrency Exchange Cryptsy Continue


January 12th, 2016 at 23:41

Cryptsy has always had software issues, people have complain about this for years. LOL

I think the new verified tiers on withdrawals is the real issue they needed to introduce to do Fait Crypto Trading has been the real issue.

I used document and passport pictures that were accepted at every other exchange, but Cryptsy refused to accept them. Not sure what standard they required on pictures for accounts that are nearly 4 years old, but there entire verified account process seems to have been a huge screw up! They must have had huge amounts of old customers bemused by the mess up on verified accounts. Now, a lot of customer who use to deposit and exchange their cryptos can barely use the exchange, because their withdrawal tiers are ridiculous low.

There support staff must, are probably struggling with huge increase in support tickets. LOL

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