Bitcoin Forum

Guys, do you have any suggestion about how one exchange can gain trust into traders. It will be appreciated!

And do you know any crypto communities for Ethereum, exchanges, blockchain where I can talk more about our decentralized platform

--> https://weidex.market/   :)

Trust is earned and it needed time.
So if a new exchange wants to gain user trust, they must have some sort of accountability and again it takes times to prove it.


but if some exchange wants to get noticed, be different and needed by people using it. Offer something new and benefit the user.
Takes a looks at binance for example, they enter the market at the right time, before a bull run and we at the time in a phase of ICO mania. They offer a referral which many influencer begin to promote their exchange, also many people want to trade over there because they listed a hot new ICO, unlike their counterpart, poloniex and bittrex who takes a conservative approach on listing policy, don't forget a problem with their withdrawal. People just want to exit that legacy exchange.

I think to be a high reputable exchange, you need to create a community first. Well, the more active community you have, the better reputable you will gain. Also, you need to care everyone and make sure to fix any issue as soon as possible.

I think, you can talk about ethereum and decentralized stuffs here as we all know this forum is the biggest crypto community forum.

I am trading only several exchanges that I select very carefully. First of all, I need a big amount of trading pairs, secondly I need to know that this exchange is actively working on security improvements. The last but not least, I want to see great trading volumes.

This forum itself is the largest community to talk about ethereum, exchanges and dexes so if you are serious about anything you should post and discuss to get answers here and also posting links will not help as it is usually considered as spam. Regarding trusted exchanges just check top 10 to 20 exchanges on cmc and you will find the best exchanges.

Okay bud, I got your point of view. But firstly, we are DEX, not CEX like Binance for example and secondly we as a decentralized exchange offer much more security like fully transparent, the user has full control of their assets, also no user information or details is required and there are no sign up restrictions for new users. We also have referral system (20% of your referee's trading fees). If you go and check out our platform be kind to give a feedback what you like and what you don't, what more can we offer to people.  Thanks in advance :)

Yeah but the main problem about great trading volumes is that first there should be traders. So this is what we strive for now. Exchange is ON, traders is what we look for to try our platform, tell us what they like and what they don't. Every opinion will be appreciated! We just getting started.

Appreciate your opinion. I'm not going to spam the link everywhere is just that this topic has a place to put it in. Anyway, I see your point of view and this is what we do, making discussions and eventually get feedback. We have what to offer to people, we just need to go above the water with some active traders who will make the first step and trust us. 

An exchange will be trusted if it meets the users criteria however we have different criteria in regards with this matter, I'm would like to share my criteria so you can have an idea as well:

* Secured
* Fast and reliable
* Legal
* Contact support 24/7
* Only legitimate coins are listed
* KYC/AML verification
* No trading fees
* Low minimum withdrawal fee/amount
* Active social media or group chat
* Bonuses and activities where you can earn
* Good ambiance

so far here are the things I'm looking on exchange but we all know that the time is needed as well in order for an exchange to gain trust also a transparency with the project and the exchange itself is important and fairness as well, no bots and fake pumps and dumps.

how is it that you have a decentralized platform but still you are receiving fees from the user's trades? i can't make sense of how that works in a "decentralized" design. i would appreciate it if you explained it here.

Yeah I know you guys running DEX, I just use Binance as a prime example because they stood out so much and one of the top exchange right now. Take a look at IDEX, a few weeks ago they accomplished to become number one used DEX, beating etherdelta after all these years. Mainly because of the improved UI they offer. Etherdelta has a first mover advantage and their competitor take advantage of their weakness, suck interface. Yeah you got my point.

https://medium.com/idex/idex-q1-update-layer-2-scaling-sidechain-e9491234e3d8 (https://medium.com/idex/idex-q1-update-layer-2-scaling-sidechain-e9491234e3d8)

I just skimmed your site, I found your UI slicker and clean comparing to other DEX that a +
You have a gas price options another +
I still don't test your exchange though, my only main concern was the minimum trade size per order, as a bounty hunter myself, I often find my token can't be processed at IDEX because it does not meet with the minimal requirement. It will be nice to lower the req to like 0.05-0.09 or something. I know it's dust size to some people but yeah it's nice have a lower order or something.

For the volume problem you need some marketing, in the form of your CEO being vocal on Twitter, trading contest, airdrop etc.

One thing that you can do is probably just add tokens that isn't added anywhere else. That will give you a kickstart knowing that those users who wants to buy and some wants to dump are trying to find ways. I don't have any idea if its that easy though but maybe an IOU will do. Of course this may not sound good but it doesn't hurt the exchange as long as you add the token once its already okay to add.

Yes there is logic in the smart contract and on every trade, part of the fees are going to given Ethereum address.
The taxes are transparent and fixed, so no one could manipulate or deceive the traders.

To build trust is need a long time and only after people will use a exchange, and exchange will work as is supossed to then people will gain trust and after more and more people will use it.

You can make it a little faster to be known with such as promotion, event or doing some campaign on this forum like another project. Because usually I see that's what they do to reach more people.

It is not easy to build trust from the people, and the only thing we can do is by giving them the best services so they can start to believe us.
It will need time to gain their trust, but once they trust us, we can get more benefits from them.
Unfortunately, I don't know the other community because I don't search too much and I only know about this forum. Maybe you can search with Google, and I am sure you will found so many communities in out there.
Maybe you need to promote your exchange using social media and give something useful for your members so they will try to use your exchange to trade.
After you get so many people using your site, you need to gives the best services to them because the members mean everything.

Well they are many ways to gain trust from traders, but this is a step by step means and don't happen overnight, the exchange will have to earn the trust of the traders. One of the way they can earn the trust of traders on the exchange is by having a very user friendly platform and also a great support team that are always ready to attend to the users anytime they lay a complaint, this is one reason I am so much in love with binance team because they don't joke with all what I have mentioned and it built confidence.

I don't believe you are asking about any exchanges or community platform. You are trying to promote your exchange. But if you're really looking at the help about community. The greatest community in here don't look out...

The first thing I always look out for is the level of the exchange in terms of security and to know how authentic they trading volume is because most of the exchange give fake volumes and that can lead to traders making wrong choice of exchange.

Today there are a host of platforms to choose from, but not all exchanges are created equal. This list is based on user reviews as well as a host of other criteria such as user-friendliness, accessibility, fees, and security.

Gaining trust is not a day job, is what you need to work for. So for a particular exchange to gain people's trust, they need to show they are trustworthy and show all the crypto communities the reasons they believed people should trust them.

The only suggestion is that let your work, your push and dedication speak for you, it is not really easy to gain the trust of users, especially in a market where we have so many other companies doing the same thing, but you can still make your own way, the market is too big for everyone to make it in their own space.

So if you want to gain my trust, you must first have a very good platform interface, your site must be very users friendly, you should be able to offer me lots of bonuses and discounts on my trade, your site must be highly secured to protect my investment or trade, and finally you should try and have volume on your exchange overtime that will keep your project running.

We don't have high volume, but we keep on trying give new traders the very best. Thanks for your comprehensive answer!

You can start with a promotion such us signature campaign and I believe signature campaign which pay with BTC will give a lot of feedback to your exchange compared you promoting it through bounty campaign.

For me, signature campaign is the best to build up a trust from many people, an interesting offer in your service is good but if you rely on it I guess many people will ignore it.

You can explain here on this forum, I believe this forum is one of the biggest member of cryptocurrency, most investors cryptocurrency must have an account on this forum.
 

You need to introduce your project first and you can do that by having an effective marketing tool.
One good marketing is by running a signature campaign, the poster above me is right, we have a lot of members in the forum and you will create awareness here if you do so. Also, if you like you can advertise here in the forum, more exposure the better.

Trust is something I do not do on anything. common you are on the internet and you are here to take the risk, of course, that doesn't mean you can invest your money on any site you look. you need to research the market and try all type of markets at least once. because if you walk with the crowd they will fail to recognize a rising market but your own disicions are important. and at the end time is a very important aspect as exchanges have to handle diffrent situations and that will show how to collaborate and helpful their teams are.

In this forum you can find everything you are looking for. If you want to advertise your exchange, you should take steps to attract attention. You need to explore what the majority needs most.

The trust of traders in one of the exchanges is the convenience of making transactions. The site does not often cause problems or trouble, because it will make the traders saturated and upset. I often experience that. It would be more if the exchange uses Know Your Customer (KYC), because that would make it more sterile and not misused. Please correct my opinion.

Getting every required qualities of a good decentralized platform is good
Get everything in place it’s better, but still you need a product to list on your exchange and drive up the entire volume and reputation of your platform

Trust is probably one of the only things that you can buy with money and you have to earn it by proving yourself. There is nothing you can do to gain more trust from investors other than doing your normal job at the highest capacity. Trust is built in time, if you do everything right and fair and you respect your investors then you should have no problem.

I think that trust is earned over time, and that confidence is ranked in Coinmarketcap because most experts look for the page to see the top, if you are not there, you will hardly have confidence in the traders.

You can search for many communities that you can pay to get good publicity with a lot of traffic and an excellent marketing team, but one of the things you can never neglect is the support team.

Today many traders complain a lot because support is not fast, also an important issue to take into account is that you must be very careful with security, you can not allow being hacked.

There are many Level 1 Exchanges, which handle large amounts in terms of money, to win the trust of the traders, you must attract the whales that are causing the necessary chaos, and with this, you must be very Pending arbitration, do not leave or neglect because you can be fined or prohibited.

Trust is earned by providing good service to your customers. And as an exchange, you can take the example on how Binance is responsive to their customer but since you're not a centralized one there must be something else that you can offer. For the other communities that you may want to know, is this forum isn't enough for your expansion?

If not, look for reddit/sub-reddit communities if you are longing to advertise your dex.

How can you gain trust, when all your bounty hunters are complaining about the payment to their token rewards, had a lot of friends I've recommended promoting your bounty, but they end up getting nothing til now and all you are announcing is after the IEO where there is no guaranty when is this going to happen.

Reputation is being earned and we couldn't gain trust by just promoting or endorsing a certain exchange.
Gaining trust would take time but one wrong mistake and traders would avoid a certain exchange.
Good services and affordable fees is what every traders are looking for. Good trading volume and security should be obtained.

Binance is a genius in marketing. They know the current situations of the market, introduced some innovations, push their brand well into the cryptocurrency marketplace, chosen to be pro-active, and then they now are harvesting the fruits of their labor. We must really be under the era of the Chinese so that the top exchange is under Chinese and even bitcoin mining and its hardware are in the hands of the Chinese and most of the bitcoin right now are being held by Chinese (am just assuming this statement). Getting into the market and staying are not easy feats that is why with all the many start-ups being introduced from time to time only a very few can be alive 2 years from now. My suggestion is to always look for a niche of this big market and start offering your better services to that market and once you are successful in there that is the time to expand.

We are a decentralized exchange, it is all about security and transparency! If we put KYC there will be the same security, but less privacy. If there is KYC that means having to disclose your activities to the authorities, or risk having your identity stolen.

Trust is earned by keeping to your words, transparency, no hidden transaction charges, and having good security structure in place. Most crypto users want an exchange where their funds are safe and secured.  Keep their funds safe and you have win their trust

Exchanges are one thing, other are communities around some cryptos. Neo subreddit is one of the most active crypto group in whole crypto world. For me it's like being part of something bigger. And if we add to this good relations between community and developers (for example FuturoCoin, where devs are reacting on owners voices and improving their coin to better suit for situation on the market, like in case of new masternode update) then we can have something similar for exchange communities, or even better

Its very hard thing to do, trust is earned through time not in a day or week. Firstly work on your 24/7 support, your live chat supports/admins should be friendly, active and have the experienced to do this work. Then you can start to market your exchange, do some campaigns, trading competitions and giveaways or airdrops to caught the attention of the community.

Do you have a plan to make an exchange? If so, you can learn more to all exchange problem that has been happened till now. Such as at this time when the Binance exchange has hacked then you must find a way how your exchange cannot be scammed. You have to try to make an exchange that has different with other exchange, either in security side, fee side or legality side. If you can fulfill some of these factors then I'll bet there are many user that comes to your exchange and use it until the new exchange who has new feature appear.

Actually, if it is only making the community not so difficult, what is difficult here is that maintaining the community that we have made is very difficult, because in the community the participants' thoughts will obviously be different and not all of them want to stay with us if we cannot benefit for them.

To gain trust the best thing you can do is to be transparent, people are aware of the scams going around the market and hence the market is in a recovery phase it is certain that people will come up with new ideas to make easy money and scam innocent users of their hard earned money.
The market has seen enough scams and hence it is not that easy to built trust unless you are transparent about the developers and the team behind it.

Sorry you don’t just pop out from nowhere and expect people to trust, you will have to earn the trust and you earn trust by doing what you’re meant to do, and it is not easy. The main crypto community is this bitcointalk, other communities /forum are not as active as this one and they don’t have a lot of members. Just go to altcoins section and you will see an Ethereum section, you can also discuss about Ethereum on altcoin discussion section of the forum. There are sections for everything in this forum. What you’re trying to do is not as simple as you might be seeing it, you also need to run a promotion . Just study others and see how they we’re able to get things done.

I think it took a long time because the Exchange must have very good security. And of course, they must be able to work hard in promotions so that they can be known to many people. I think now many investors are investing in safe and popular markets. This certainly has a very large Crypto community and they must be able to improve security well.

Well, KYC is not bad to also add to the site but it should be made optional, and For a start, it will really not be a wise idea to start with KYC, as this may discourage a lot of people who would have trusted your service, since right now, we have so many users that detest KYC, so you can use that one to your own advantage first to gather the necessary volume before imposing the use of KYC.

That is why people will always refer to Binance as a very string exchange because they have all the strategy, what they did with their KYC was to have level for it, so the system accommodates those that does not want to do KYC but limits their operation, while it gives unlimited access to those with KYC.

It is indeed not easy to get trust and it requires struggle, each exchange must be able to meet the targeted volume and that is real. Security also needs to be considered for the guarantee of the community, KYC can also be applied to be more transparent even though many are opposed.

few dex already implemented a KYC, like cryptobridge and maybe idex?

I think it's a good idea to have a grace period like what cryptobridge do. So people can choose whether they want to remain or get out. Just don't suddenly force people to do KYC and locked out people fund who refuse to do so. Give people some warning period or something.

The main purpose of the trust system is preventing the scam in my opinion. Trust system is not moderated but Theymos can change this rule if required. Other crypto communities are not as popular as Bitcointalk forum and the related subReddit is full of questions about the forum.

For getting interest of traders exchanges should introduce various campaigns and should distribute various giveaways and airdrops,bitcointalk is good forum for discussion .

I think one of the most essential features of a crypto exchange should be trust, discipline, transparency, investment security etc. If you can give investment security and transparency, you can attract most traders and investors. But most of exchanges claim that they provide investment security and offer some types of incentive schemes. Considering these factors, an exchange should be different from the common exchanges. If you are different, offer unique incentive schemes and provide investment security, you are sure to grow.

The fact is that bitcointalk is a good forum for discussion, as you said.  Then, proceeding from But this forum is a concentration of interesting people in the field of cryptocurrency, as well as professional traders and investors.  therefore, it is very beneficial to use bitcointalk as an advertisement for various projects.  Of course, a new development concept implies a greater degree of use of trading platforms, both for advertising and for selling and buying various goods, but you need to use different methods to spread information about cryptocurrency and new projects.

This is why we have lots of scam exchanges too now because they believe they can buy people over by introducing mouthwatering offers that will win the heart of the users, it is not their giveaway that we really want or whatever gift they want to attach, that is just secondary.

The primary and basic thing we need is a system that one can rely on, a system that will not produce shit projects and will not be easily to be compromised, because some exchange that are listing bad projects, I see them as ones that has compromised and sold their right to fraudsters. Once they are reliable, volume will definitely come, and then they can now use these entire gifts to continue to sustain their users.