Bitcoin Forum

There is a Korean exchange whose airdrop campaigns MemberPass is working on. I think they have a great model with transaction fee mining. I believe this type of exchanges will be around.

My question is where do the quality traders hang out? What motivates you to join a new exchange?

Everyone could really be possibly a quality trader but the hard thing on this initial phase on how you would able to drive traders to such exchange and trade off a particular coin.
There are lots of criterias to considered first before making any trading activity.

1. Popularity of the Exchange
2. Trust
3. Volume of the coin
4. Fees

For luring in potential traders then you should set a competition just like on other traditional projects when it do list out on exchangers.

Nothing will motivate me to switch from binance to any other new exchange.

Binance is:
fastest - sharp interface. Orders are on market instantly
Best support - telegrams in close to 30 languages with instant replay from admin
best secured - it even have special system to lock suspicious trades that in last year save custommers coins twice.
higher volume (lower spread)- and its real volume. On other exchanges like Lbank Ubex, Bitforex 90% of trades are fake.
Low fees - 0.075% with bnb.

All other exchanges has looong way to binance. Every new exchange is untradable due to no volume (all volume is made by fake trade) what gives huge spread and untechnical/unecomomical movements.

Maybe there at their home trading. You can't find good quality traders moving around outside. They could probably studying their next move at home.

What is a close 2nd for you?

https://coinmarketcap.com/rankings/exchanges/
List of exchanges listed by trading volume. I love binance.

Lbank is scam exchange. Its realy hard to find real trade there. Most of their trades are fake just to boost trading volume on coinmarketcap. I also dont like their withdrawal policy. They had 200$ withdrawal fee for withdrawing USDT. 200$. Trade commision dasnt look important now?

Huobi is not sharp enought. 20 secons - Thats how much time it needs for simple operation like this:

1- creating order
2- beeing able to cancel it
3- having money unlocked for another order
4- creating another order
For binance its like as fast as you can click.

For daytrading it might not be enought. Also its interface is no as good as binance is.  But i trade there sometimes coins that are not listed on binance.

Bithumb Interface is soo bad. I didnt tried it because I dont trust it due to very high differences in prices between other exchanges. If noone is arbitraging it something must stink. And im talking abount alt/btc.

Bitfinex I dont use it due to lots of fud related with theter. In my opinion there is small chance that it might be next mtgox (rumors do not come from nowhere)

Bit-z - fake trades - just like Lbank

CoinBene - its alwais a mistery if ill be able to log in.

Okex might be good but i didnt test it by myself. As second best i've tested is huobi but okex might be better.

What takes me to join new exchange are the tokens that be listed and where I have invested on that ICO. I usually don't do trading on new exchange but if the token I have should be traded in that new platform then so be it.

For me the motivation is what security has the exchange got to provide for my little funds in the custody of the exchange. Secondly, I like an exchange that provides me an ease of navigation on its platform. Also, an exchange with high trading volume is a catch for me. I don't want to endorse any particular one but you can peruse exchanges on coinmarketcap.com to see who has what.

I stay with what I preferred. I do not go jumping into different trading websites just because of a hype. I might take a peek but never stayed. Most of them will be run by bots after some time.

Manual trading gave me a lot of profits by now. Trying to look at what is happening every minute or hour and trt to make sense out of it. It is a hard job monitoring it 24 hours  but it will be worth it.

Recently I sold something at a double price in digifinex then I got out. Now it wont go back to the price that I have sold it.
Sometimes it is better to be early than wait for it to be swarmed by bots.

finding quality trades comes from experience, and we must lose much money to gain experience then only we will know which is a trap and scam and which is good

I agree with you and may I add with number 5. Great customer support "ease of transaction dealing with exchange". Being fast to respond on problems with  deposit and withdrawals is a plus for an exchange, if they resolve uickly.  I prioritize with big volume turn out also  being processed or traded as it may equates to many trader and popular also. Fees is also another thing.

I guess to each its own, if your comfortable to one exchange then you go for it, no need to tell others what should be a better fit because everyone is very different.

As for the Korean exchange, we will have to see, if they offer is good as compare to others then sooner or later traders will flock to that exchange, no doubt about it.

Motivation might not be the right term for me when making a decision to test out a new exchange.

First of all, I will used them because of specific reason that some coins on my portfolio will be listed there. No way I will just try a new exchange without any reason or will consider those if some strong hype circulates about that exchange.


They are everywhere. :)

I see their tools, as long easy to use and always up date that's the first sign to join. Second I see their services, if they can fix and finish my transaction/ problems on time that's become reason to keep stay. I never see how much their members, fees or bonus. I see their quality because using them I want to change my life. Just take challenge to join and see what happen, can accept stay make bigger problems leave.

I just wanted to answer you based on the perspective how I am selecting any exchange. Only the availability of a new coin is the core reason to choose a new exchange. After the news of one new coin/token gets listing out into an exchange, I go for search to find out what are the exchanges are available for that particular new asset.

When two or more exchanges are available for the particular new asset, I will be choosing the most popular one rather than going for a new one. I'm always afraid of clearing KYC. It is kind of allergic to myself as I value my privacy more than exposing myself to them for the sake of withdrawing few dollars.

Honestly, I never bother about what are the trading fees and what are the extra features on exchange is offering. Because I'm not the continuous trader only to convert my new assets into btc/eth/ltc, I need for exchanges.

There are a lot of factors that lure traders to an exchange, ranging from the security of funds on the exchange, low fees, and volume. Some other lures could be freebies and some trading competition.

only trustworthiness is important for me in an exchange and nothing else. their platform can be the worst thing among the other exchanges but if I could trust the exchange with my money then that would be enough for me to choose that exchange instead of better designed exchanges that are not trustworthy.

it is a matter of money and its safety. I am honestly tired of all these good looking exchanges which are trusted until the day they take your money and run away: Mt Gox, Cryptsy, Bittrex, C-cex, Bitfinex,... they all were good exchanges, with good support, low fees, high volumes, lots of coins listed,... but they all scammed.

Trust is the most important as you said but due to high spread you are loosing money with every trade. If you are daytrading and you have 1 % spread after 100 trades you give away 100% of your porfolio (if you didnt cover it by your earnings you are zeroed just like after exchange hack - add high fees to it and you are zerowed in 50 trades. And 50 trades are achivable in 1 day while daytrading). Comare it with 0.1 % spread.

If your are buying for lifetime hodl trust might be the only factor but hodl investors most often decides to hold token outside of exchanges. So you have to have so much bud luck to transer coins to exchange at same time it gets hacked.

Quality traders usually standby on those exchange where they can assure that there funds are safe and can easily transfer anytime they want to make a transaction/s. If that exchange will have a better security, high volume in marketcap and many good coins available for trading , then there's no reason for traders not to create an account in that exchange. Iit is uniqueness from other exchange platforms and it's legitimacy  can attract a trader's  attention.

Recently I started trading on a new velvet.exchange, there are no innovations there, I just liked the integration of the best trading solutions.

There are large number of trading sites are available on internet and you can make transactions with a trust like we can buy and sell coins from online exchanges and they have a good trust of the users on daily basis they do a millions of transactions and for their smooth operations trust is important and traders are good because in every situation they earn their commission for transaction.

how put fake order in exchange ?

These days the top bitcoin exchanges are either Bitmex and Binance mostly. The rest like Poloniex or Bittrex are dying off due to the KYC regulations.

And Bitmex has a trollbox where you can chat with other traders if you want. You can also post your active positions, and total realized and unrealized profits. So if someone is a good trader they can show proof.

However they are mostly very new traders who hang out on the trollbox and most of them take bad trades and end up getting Rekt. So basically you need to do your own due diligence before you follow others trades.

I am not clear about your question. Are you looking for quality traders or quality exchange? If you want to find quality exchange then better option is CMC. Check there whice one is top. And obviously quality exchange is equal to quality traders also. To be honest it's mostly depend on volume. If total volume is good means this exchange is good. It's not very difficult to find which one is quality exchange and most of quality trader are there that's why exchange will call quality. I think for easy mode you can use Binance since they have mobile apps. Currently Binance on rank#3. You can check here all exchange rank and volume. https://coinmarketcap.com/exchanges/volume/24-hour/all/

The crypto market is not what you think. There are no quality investors here. There are only traders and marketers. Quality investors you mistakenly think are manipulators. :D

I guess traders do not run for exchange because of its popularity i think what they look for exchange is the alternative coins they want. Not all exchange contains high potential coins that would be a contender on the market. Although trust is given and to be consider on an exchange the need of great coins is essential rather than just mere trading different coins. Where do traders hang out? i guess they are on high capitalized markets.