Is Bitflyer a Scam?
Many people, especially those who have lost access to their funds for months, will probably say that yes, Bitflyer is a scam. A more cautious approach would involve using the term “potentially fraudulent” to describe their behavior. Either way, the fact remains that choosing this particular cryptocurrency exchange would be a sub-optimal approach.
Are Bitflyer’s Problems Caused by Incompetence Rather Than Malice?
That is a distinct possibility and for reasons which pertain to intellectual honesty, that possibility cannot and should not be discounter. Perhaps most issues are simply caused by incompetence but as mentioned previously, this distinction is of little importance to the average consumer.
The only aspect that matters is that for the reasons outlined on Bitflyer.Sucks and on many other venues, this exchange should be avoided. Why work with a company that is either malicious in its intentions or incompetent when there are so many good alternatives out there?
Which Cryptocurrency Exchanges Does Bitflyer.Sucks Endorse?
None. Endorsing one cryptocurrency exchange or another might cast doubts as to the motivation behind launching this project, with some individuals potentially choosing to manufacture theories such as this being a project that is secretly backed by competitors.
To alleviate such concerns right from the beginning, it is a firm policy on Bitflyer.Sucks to never recommend or even refer to specific alternatives. It is ultimately the responsibility of each and every visitor to conduct research independently before making a final choice.
As per the via negativa principle, Bitflyer.Sucks is here to tell you about an exchange that should be avoided. This helps visitors conduct proper research but is in no means a substitute.
How Should Proper Research Be Conducted?
There is no “one size fits all” approach, all it ultimately takes is patience. From performing a few simple searches on Google to reading about exchanges on platforms such as Reddit, the sky is the limit when it comes to possibilities.
Compile a list of exchanges and then analyze them one at a time. Once again, as per the via negativa principle, eliminate an exchange from the equation once you identify enough causes for concern. This process should, in the end, enable you to compile a short list of exchanges that are actually legitimate.