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End of the Road for CoinExchange?

This may be turbulent times for the Altcoin trading platform, CoinExchange.io as it is shutting down soonest. The bane of CoinExchange is traceable to financial limitations as it has struggled in the past to gain popularity and acceptance among crypto-traders who would rather go for big names like Kraken, Bittrex, Binance, Coinbase, and Bitfinex.

 

A release made by the platform affirmed the decision of closure of the exchange. It disclosed the reason for the closure is a conclusion being reached by the management and not based on security reasons or any other.

 

It also disclosed the deadline for all trading, investments, and deposits to be October 15, 2019. The exchange implored its users to stop all investment and trading activities on its platform immediately.

 

However, withdrawals will still be possible until December 1st, 2019.

 

The site will still be available up to this time. The Exchange, however, advised its users to pull out their funds latest this date. It, however, expressed optimistic hope of a comeback if the situation in the market changes.

 

Goodbye CoinExchange

Coin Exchange had struggled in the past to gain popularity and acceptance among crypto traders who would rather go for big names like Kraken, Bittrex, Binance, Coinbase, and Bitfinex. This was a major challenge it faced from the onset. CoinExchange, however, had the volume to its advantage as it offered plenty of Altcoins on its platform, but this wasn’t appealing enough as it was mystique with an air of ambiguity. The market situation, however, forced it to throw in the towel as it seems to be running short of financial profit. Altcoins are facing market volatility at the moment.

 

Closure Not Due to Regulatory Concerns

Though the shutting down of CoinExhange.io is coming at such a memorable period for the crypto space, recall that 2018 and 2019 were eventful years in the crypto space. However there may be a price hike soonest but if that isn’t the case, crypto startups like CoinExchange receive the short end of the stick.

 

It is sad to say goodbye but the good news however is the reason for the closure being a conclusion reached by the management and not based on security reasons, theft or any other. CoinExchange, however, expressed optimistic hope of a comeback if the situation in the market changes, but if and when?.

 

December 1st, 2019: Last day for withdrawals

Users are to note the stipulated dates already been released by CoinExchange. The deadline for all trading investments and deposits is 15th October 2019. The exchange implored its users to stop all investment and trading activities on its platform immediately.

 

Withdrawals will still be possible until December 1st, 2019. The site will still be available up to this time. The Exchange is giving its users time to pull out their funds latest this date in other to avoid a total lose out.

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      Azeez Mustapha is a technical analyst with many years trading experience in the stock exchange and crypto markets. He has broad experience in forex trading, coaching, and funds management.