The majority of users currently experiences various difficulties, while working with cryptocurrency exchanges. One of the most common issues is the difficulty of user information verification. Among other issues, the market lacks an integrated service with optimal work conditions. The quotations may be profitable on one exchange today, but tomorrow they'll be profitable on another exchange. For that reason, users must create accounts on several cryptocurrency exchanges. Registration on each service requires going through a complicated and time-consuming verification process. Therefore, if you register on several different platforms, the process may take months.
Cryptocurrency exchangers offering intermediary services of purchasing digital currencies, under a so-called simplified scheme, have recently become very common. However, these services have one large disadvantage: they charge a high commission for each transaction. For example, you'll usually have to pay at least 10% of the cryptocurrency price, when performing a transaction. These services do not provide any official cryptocurrency quotations and don't allow you to view the current cryptocurrency exchange rates in real time. They only display sale and purchase prices for digital currencies, that include the 10% extra charge.
Another significant problem is crediting and withdrawing funds from a cryptocurrency exchange. This process is often complicated and costly. Commissions for any kind of transaction can be 5% or more. Since it's impossible to transfer or withdraw funds directly, it is necessary to use third party payment systems, which also charge commissions. They must deal with disadvantageous exchange rates and other obstacles due to the existing regulations for international funds transfers. These issues lead to major inconveniences and difficulties when working with cryptocurrencies.