Cryptocurrency exchanges play a crucial role in the world of Bitcoin and altcoins. Despite their centralized nature contradicting everything cryptocurrency stands for, these platforms facilitate access to this new form of money. Not all exchanges are getting the best of feedback regarding their business operations, however. When it comes to HitBTC, the recent findings by Coinfirm seem to confirm people’s worst fears.
Potential Liquidity Issues are a Problem
On the surface, all cryptocurrency exchanges look healthy enough. They generate plenty of trading volume and serve hundreds, if not thousands of customers each. There would be no reason to think anything is wrong behind the scenes. For HitBTC, it seems there are serious questions regarding the company’s liquidity and reserves. So much even that the figures are not adding up, according to what Coinfirm has discovered so far.
As is always the case when this type of information becomes public knowledge, it is important to keep a level head. While Coinfirm claims the…