Bitcoin Forum

Hello to all,
we are currently working on an exchange, they should be out this month.
We are currently registered in Estonia and have applied for a FIAT licence.

are there any features you'd like to see on exchange?
Thank you.

Try to look on whats been currently offered by Binance. Im not saying that you should mimic them but at least try your best to give out the same service that they are currently giving or e even going better ahead of them but this wont really be that simple which is normal since exchange market is quite saturated already.Just one more thing which your exchange shouldnt really have that strictly imposed KYC or else you do know on what would happen the same on others exchange that becomes heavily regulated which these platforms drop significantly on the rankings or popularity.

I'm glad that more and more businesses are looking into licensing options and AFAIK Estonia is the most crypto-friendly european country. The crypto space needs more regulated businesses into it, but boundaries are needed so that the decentralization and freedom principles of cryptocurrencies are not broken.

Regarding the features I'd like to see:

• Conditional Order Types
• Leverage if possible
• Webiste design and user interface - very important
• Fast execution - again very important

I'm guessing that you are launching a centralized exchange. I don't know if there are still features that hasn't been covered by existing exchanges but maybe try to become an exchange that doesn't fake volume.  

I second this. I would like to see new exchanges that could actually compete with the likes of Binance, Huobi, and other major exchanges as well but it's getting harder for them to do that now. Most traders aren't really looking for new exchanges anymore and one reason for that is trust issues.

They're applying for FIAT license which suggests they will be imposing strict KYC to comply with regulations.

+1

Take the idea of imposing KYC but there's also a limit or option for your users not to comply. In return, the withdrawal limits and other features will be limited to them.

Fee is also of consideration. Many traders want a reliable exchange with low fees but don't sacrifice the quality customer service.

I'm sure everything is properly set up now since its inception is coming near.

I know you are already aware of some of the customer's criteria in choosing an exchange. No way you will just operate it if the exchange is not 100% ready.

Wait for feedbacks once we saw the exchange. We want to see its features first.

Copytrading, so we can follow algo’s and make money basically 😎

The exchange is coming this month and yet you just asked now what other features anyone wants to see?

Should ask it a long time ago for preparations. :)

Maybe faster approval of KYC submissions. Customers want a quick update regarding the status of their KYC rather than hanging for weeks so I think this will be your advantage.

I don't know if this is possible or if there is a way to do it.I want a kind of function where you can set an order with a buy and sell price at the same time. Once the buy order fills, it automatically creates a sell order for the token with the already set sell price. I'm not sure if it's possible with bots, but implementatng it officially in an exchange would be okay.

This is probably a set of features that work better on a dedicated exchange, but what I love most about trading is P2P, so if there were a separate section in the exchange that also allowed you to find traders and deal directly, with the exchange only dealing as an escrow (like Localbitcoins), that would be cool.

And margin loaning. Like what Poloniex used to offer (or still does, but no demand any longer). Hard to create demand though, unless you make it completely fee-less.

A good exchange in my opinion should have the following features if not more, what the above people suggested:

1. A responsive support system
2. Quick notification system for downtimes, new coins/markets listing, new features.
3. A UI that is easy on both PC and Smartphones. Having an App is secondary for me, though others may want it.
4. Coupons, referral system and incentives to keep the traders happy from time to time especially the loyal traders and maybe the ones from bitcointalk.;D
5. A liquid market would be great but it takes time to get one.
6. KYC will probably come in once at a time and because some criminals attempt to launder money from tainted sources and so on. So that will happen but I hope you can keep it aside for legitimate users.

Some users have suggested leverage, but I feel it is being way overdone by bigger exchanges and for a new exchange like yours which is being developed, this should be a late goal once the exchange itself is functional.

Why binance become popular due to that one of its features where having that 2btc daily limit for unverified accounts which i highly believe that its more than enough for most users.

Typical features of a good exchange is having a good support, good ui and ux plus low fees which is a usual norm. Lots of exchanges tried to dethrone and competition is high.

It's nice to have new exchanges, so it gives a lot of choices for trading places.I will give input for features i want like to see on
exchange is free coin, instant buy / sell, favorite coin,btc pair, eth pair, and stop loss. And please remove the KYC procedure.
Hopefully the features I want are realized In the exchanges, I'm waiting for the good news for launching the exchanges.
I hope a lot of promos and give away when launching exchanges.

Maybe I can make a list to you:
1. Have many coins in your exchange site.
2. Have 2 option for the member for the KYC, like what Binance did.
3. 24/7 support system so members who have a problem can get handled by your team/staff.
4. Have a high speed to trade because we will be sad if the trade will get delay.
5. Mobile friendly access.
6. Have a faucet to get free coin ;D ( I am joking)
7. Don't use big fees to withdraw, or trade ;)

But maybe you can find out by yourself with visiting other big exchanges in out there like Binance, Poloniex, Kucoin, Bittrex, Bitmex, Okex, etc.

maybe copytrading is a good option because i never saw any crypto exchange that has this feature

Majority of traders are always preferring a good services like these:
1] High liquidity and buying limits --> it should have a good volume.
2] Work almost in all countries
3] Fast and easy withdrawals
4] Security set up is a must
and soon... I would like to have you this link and review the exchanges reviews, https://www.buybitcoinworldwide.com/exchanges/
Good luck with your new project.

There has to be someone out there who can think about creating an exchange, updated enough to see there are tons of coins not added in any exchange. If he can add those tokens, I think he can promote his exchange quickly to bounty hunters out there who wants to sell their tokens.  Marketing an exchange to make people register and use the exchange is the hard part so instead of focusing more to a feature which you know you can add later, try focus more on how to make your exchange known to users.

In my own preferences I would like to have an exchange that is:

*Low fees in withdrawing my funds and Low fees in making a trade.
*Notification with regards to my coins I used to trade.
*Mobile friendly or having an app so I can monitor my trade more convenient.
*The number of altcoins availability in the platform.
* Good looking UI design and responsive website.
*Active support system.
*News section
*Security must put in consideration as well

I'd like the idea of knowing first what the users preferability in a choosing exchange because this will improve the platform.

Yes, There's a couple of features which I would like to be on your exchange that I haven't seen on other exchange (I'm not sure since I don't use all exchanges).

Firstly, Immediately after I enter a trade. Say I buy a token now, I want to set a dual order that would trigger if:
i. A stop loss

ii. I'm studying at the moment and don't have all the time in the world to be a full time trader. Others are not trading due to one reason or another (some have jobs etc) If you can add a feature that I can set a limit order to sell at a specific price. Now, I want both orders to be live and will trigger only whichever condition is met first.

Right now, I can only set limit orders or stop loss orders but not both. I'd be glad if such feature is available as It'll help. I don't have all the time in the world to keep minute by minute track of my trades.

Profit is the major basis what everyone looks in the exchanges, i wish such kind of information need to be there...
Stop loss is one of the best option i love always to see in the exchanges.
I wish bitrex needs to be comes with the android application.

a page that dedicated to the trader to see how much profit he made while trading a certain coin is will be good for the trader.
but for me, the more important thing is the withdrawal fee should be lower and each withdrawal should be fast

Yes, that feature made for users that don't want to send KYC. And that's what exactly what most of the users want, everyone isn't the big whale trader that needs huge limits. The competition is given and that's the next thing that the exchange op is trying to build.

If those good features can be found on his exchange and being trusted takes time. So it takes patience on his side and it's up to him if he can bear with those consequences at the beginning.

-most importantly, a robust order matching engine that performs under stress without lag.
-advanced order types: one-cancels-the-other (OCO) and both limit stop/market stop orders. i dunno why it's so hard to find OCO these days!
-an option to trade without KYC verification---hopefully this is possible for those who don't transfer fiat. even if withdrawals are limited to $500/day or something.
-i sure miss my transferable btc-e codes! (https://bitcoin.stackexchange.com/questions/17362/what-is-btc-e-code) selling codes like this for cash was an awesome way to withdraw money.

- exchanges can be used in all languages to make it easier for users.
- Low withdrawal fees with a fast process
- always provide the best service if there is a problem with the user.
As for the additions that will follow if the exchange you are working on has been active.

- support mobile web view
- android & apple mobile apps
- chat room, private chat with another user, CS chat
- realtime pop up price notification alert

especially do not use BOT customer support, it wont help user

the basic function exchange I think of course you already know it covers the whole trade suport all type device all people has provided many suggestions ,other functions we certainly want to see something new from an exchange whatever is most important to attract the interest of traders or investors so that your market patterns and volume getting crowded bigger
we want most is security and well unexpected bonuses from your website other promotions or advertisements to be will more famous :)

I want an exchange that has an exchange feature between currencies of several countries, a combination of crypto and forex, I also hope you provide a complete indicator feature because I like technical analysis, I hope your site also has a software application like MT4, Besides having an attractive appearance, access is also very light.

I just want proper support.... it's one of the reasons I hardly ever use an actual spot exchange anymore, but only smaller local exchanging services where I can get in touch with support in a matter of minutes.

I get why it's not feasible for large spot exchanges to offer support within a time frame of 15-60 minutes, but it doesn't need to take days or in some cases weeks either, especially with how volatile this market has always been.

Waiting a few days to solve deposit/withdrawal problems is literally something that can make you lose out on thousands of dollars in value because you can't do anything with them.

This is more like a suggestion for your business rather than just a function for your exchange. Why not take advantage of your market that instead of having just an exchange you should also offer up an integrated wallet app for your clients similar to what Coinbase is doing which has both an exchange and a wallet app for their customers. Wallet integration for your exchange will also be a good feature to have if you want to give convenience and several options for your customers to send in or cash out money from both platforms.

1. Lower Fees
2. More agility in withdrawals and deposits
3.Phone and email service
4. Profit Sharing
5. Acceptance of notes other than the dollar.
6.Something I trust leaving my money on the platform
7. A contract or something that would guarantee me at least part of my money in case of a hacker attack.

Most traders want a
- flat rate for withdrawal fee but won't compromise the service.
- real-time customer service.
- interface not laggy even on the mobile view.
- interface shouldn't too complicated to navigate especially for newbies.


Hopefully that can happen however as far as I know, that somehow isn't covered by the insurance of the exchange site not unless the entire site gets hacked.

I think to have some advanced order feature that would be fast and could function without delay under high pressure of requires. Then fast and expert customer service that you don't have to wait for days to solve the issues. Also flat withdrawal rate would be nice to have.

He should make even more better if he would really plan to get some marketshare.Building reputation and trust is the hardest part
into a business where you dont even sure if you would able to get the support and sympathy of the public but well just do the right things
and mind off anytime on what people really wants because they would normally recognize it once they found it out into your exchange.

Op did not come back after posting this maybe he is not interested in the opinion. All information was listed above and I think there is no reason to extend discussion or else locking this thread is a good idea I think.

In addition, it should have customer support 24/7 because the staff is very important and having a quick response from simple queries will give traders appreciations.

I didn't talk about customer service because in my mind this must be the basics a company should provide to customers. This in exchange should be taken very seriously because customers are usually from different countries, with many different time zones.

In this case I think just having enough low fees might be something interesting, and besides of course about good service. There are many exchanges that are still slow in terms of handling every problem because the piled up tickets are something that is annoying for me because I have experienced it until I waited a few days just to get a clear answer. Maybe that will be the main problem, regarding the speed of withdrawal and other speeds I think every exchange has prioritized that.

Volume
Low fees
Anonimity ( this wont be possible since you applied for a fiat license :)

Ping me for telegram advertisements :)

This should be noted, Those who don't want a KYC can use it but with limit in their withdrawal amount, there should be ways to do KYC per limit to obtain, like selfie first, then unlocked certain limit, then ID, address depending on what only their customer want to reveal. Plus way to convert in fiat depending on what location their are like what local wallets have.

For me it's simple. If a site or service even HAS the option of KYC, then I tell myself, be prepared one day to be asked for KYC. If you aren't willing to ever verify yourself or know you can't do it at all, then simply don't sign up. Exchanges, casinos, etc. They're all the same. If they have the option, they will exercise it sooner or later.

I agree to this. every traders, dream this to happen. may of exchanges had a huge charges on withdrawal and we experience some of delay's. imagine we pay for higher fee and they didn't improve the faster transaction. and I experience this sometimes of top 5 exchanges, but they working to improve because of users feedback. I hope they make their own searching before users experience it. that's a common thing happen everytime I trade. including those new exchanges.

im pretty sure that they them selve have found out and verify that speed issue just before they open thier exchange the first time but they cant do 100 percent patch to make the speed fast because other factors can also contribute on the delays like the number of users/trader and the price of cryptos . both users and price can change or increase makes the platform or their service lagging behind

My current favorite Exchanger right now is Binance and i think may are supporting this exchange so better look up and consider features that they have.

There's no question that binance is the crowd favorite here since we all know that they are safe for now but the OP is questioning people here on what would be the feature you like for there exchange so maybe stay with the topic and be straight forward for answering.

Anyways for OP I like the voting system,Airdrop closet(For new token/coin who wish to run an airdrop in your exchange) and also the integration of market cap of all altcoins listed on your exchange.

i like new exchanges with new approaches. for me there are 2 classics but very important news ;D first of all there is 2FA for security and 2. there has to be a FIAT interface. only that makes sure that new people in the crypto environment can join without much effort.