Cryptsy Review


WARNING!
THERE CURRENTLY IS A LAWSUIT AGAINST CRYPTSY!
BE VERY CAUTIOUS IF YOU DECIDE TO DO BUSINESS WITH THEM!

—>READ MORE HERE

 

crypsty

Cryptsy is the main exchange for so called “altcoins” such as litecoin, namecoin, peercoin, primecoin, feathercoin, terracoin, quark, doge and over 100 others are traded at cryptsy. At the moment there are no USD markets(USD markets are coming soon, you can verify your account now) in the meantime all  coins are traded for bitcoin . There is also a litecoin market so you can buy namecoins with litecoin or buy namecoins with bitcoins, for example.

Ease of use
Allthough there have been a lot of improvments, the site is kind of slow. Sometimes there are bugs, and some markets do not work correctly. On the good side there is an “auto sell” function. That means that as soon as coins are deposted they are sold, this can be usefull for miners that want to sell asap.

Security
Cryptsy has a 2FA system that you have to use to log in. They were vaunarble to the heartbleed security breech as were a few other exchanges. Cryptsy did a good job patching it up and being transparent about the issue.

Trust

DUE TO CURRENT LAWSUIT AGAINST CRYPTSY WE CAN NOT FULLY TRUST THEM AND THEY MAY BE SUJECT TO HAVING FUNDS SEIZED!
Cryptsy is based in the USA and complys with all current regulations. We know who runs the site, however since the site itself seems unstable at times it is hard to fully trust. Allthough some people claim that the exchange has stolen funds in the past the problem is more complex. They have has technical issues and shown that people have the wrong ammount of a coin in there account. Somtimes this is Cryptsy´s fault sometimes there are issues with the block chain of an altcoin. What has happened is that people were unable to withdraw or see their balance for days sometimes, they did get their coins in the end but maybe they were not worth as much. With Cryptsy it is less about trusing if they are solvent and more about trusting if they have their trade engine and website in order. Cryptsy looks like they are coming through with their promise of adding USD markets. The accusations of lost coins, and unanswered supoort tickets continue to grow. How Cryptsy handled the deletion of the “PENNIES” marketplace (Pennies is an altcoin) was at least “questionable”, many claim that they just took their coins. We do  not recommed that you keep a large ammount of coins at cryptsy.

Anonymous
Right now all you need is an email address. If you want to trade on the upcoming USD markets you will need a varified account.


Day Trading

This site was made for day trading. You can place a market or limit order. Overall the site is good for day trading the only negative thing are those damn bugs.

Ease of use: A-
Security: A-
Trust: B+
Anonymous: Yes possible* Not for USD Markets
Day Trading: A
Altcoins: A++ Yes, TONS


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