Bitcoin Forum

Lets say in theory someone is creating a bitcoin/altcoin trading website/app.

What would make it perfect? How could it better than the sites we already have?

The only features it needs are those of a good trading website.  It needs the graphs/charts, information about everything being traded and its importance, low fees, a nice layout and design (like Poloniex) and margin trading.

More importantly though, it needs to be reliable.  A good UI is worthless if it doesn't actually work.

Poloniex is one of the very good trading platforms. Many people have used it. Besides that ploniex also provides features that are very complete compared to other existing trading platform today.

I don't think there will be a perfect Trading Website/App. It needs to have some room for improvement of course, but you can make an ideal Website/App for users :) Just go to the trading platforms, make some research and compare. I think that's the best way you can do to seek what user likes and dislikes about the platform which you can use in building your own.

Fast FIX API.

This is my theory, let's say in trade we need a lot of analyzation to get a prediction which containing high accuracy.

let try to look at the exchange site, in there the possible thing for you to get the sentiment data for your trading just through the troll box.

My guess will be perfect if we are able to make our sentiment data about our investment.

The latest discussion, news, rumour, mathematics and technical argue. All of them are parts of the sentiment data.

Exchange site is not offering a lot of the data to make a sentiment data for your investment or speculation.

Personally I have never used a app for the trading purpose, in my view localbitcoins gives the best trading solution. The advantage it has got over other trading platforms is​ convenience and the different options available for buying selling and exchanging of bitcoin.

the only way it becomes perfect if you write it for yourself and have your programming tool at hand to debug and improve it each time you encounter a bug or each time you think of something new. all the rest of them are either hard to trust or too expensive to even start to think about buying them :)

also if there were some trading APP that were free and open source that would have been cool.

I would actually love to see an app as I mostly do all my work on mobile and the current interface of mobile isn't good at all. If suppose there would be an i want it to be of a established and trusted exchange like yobit , bitfinex , etc. Because in the past i have seen lot of scams through apps in a different field.

This is really a better question for which I was looking .
Since I wondered for many exchage site but no one have Thier app so that we can handle them easily .
Here in my opinion a exchage site should be handleable through mobile laptop and tablet ( I am through every platform) .
Since the Poloniex like many exchage have better thing of the ideas for the trading but Thier sites are not responsive for mobile .
So better is thing that make them simple for mobile also because users of mobile are more then PC or laptop .

There is no perfect trading website. All the trading website right now looks good to me.

However, to have a good trading website that a lot of traders/investors will used, you need to be open up for suggestions that will make trading website "perfect" in your customers eye. For one, graph needs to be accurate in real time because some of us are using it to make decision on whether to sell of buy. Also, a good API that will facilitate information sharing including real time price or even trade execution. This is some of the thing I have right now. Goodluck.

there are so many different little to big things that needs to be considered. the first one is the pricing, these things are never good and are never cheap.
then if it is a website, can it run it 24/7 reliably or will it have downtime leading to me missing chances.
another thing, off the top of my mind, is the strategies that i can run with the app/site. does it have already strategies, or can it add scripts and most importantly is the user interface.

If you'd actually want to develop such a site, I'd like to contribute to the trading API.

Remember Cryptsy? Avoid anything that looks like that, that site had one of the worst designs out there. Oh yeah and they ran away with funds...
No seriously, anything that just has a decent UI, like Poloniex or even Bitrex is fine by me. Innovation isn't really needed for trading websites imo, they just have to be reliable.

I am honestly thinking of owning a new innovative cryptocurency exchange. I am thinking about a platform which will be dealing with off-chain transactions so that users will get rid of delay occurs due to confirmation. I am just giving overview as I am concerned about my unique feature.

Well, it would be somehow decentralized in the sense that we wouldn't have withdrawal problems ever. Some exchanges have fiat withdraw problems.

@beerlover: all exchanges with wallets for the users have no delay?

off-chain transaction = trusting third parties aka centralization => nobody will trust or use it.
it is the question of pros and cons in my opinion.
sending and receiving cryptocurrencies to your own wallet that you control private keys of but accept the delays, which are not a big deal, for example a 10 minute on average confirmation for bitcoin if you have a decent fee of 0.0004BTC.
VS
trusting a third party to do the off-chain (bank like) transactions and pay even higher fees (like bank) (because who are we kidding who will offer an off-chain service free of charge!) and risk them running away like many exchanges did.

I think what I can recommend to you is bittrex, poloniex, c-cex, those exchange sites
are good and it has no bad record or any controversies issues.

Off-chain transactions are already happening within exchanges and I believe it helps saving time and fees. I guess it is novaexchnage, they are having facility to send cryptocurrencies to other members using their chat-ID/username itself. Xapo to Xapo and coinbase to coinbase transactions are instant with zero fees for transacting.

I can understand your idea and I am not seeing any exchange deals this way. If my understandings are correct, for real time example faucets are already using this concept, right ?

I think what I can recommend to you is bittrex, poloniex, c-cex, those exchange sites
are good and it has no bad record or any controversies issues.

The best sites for me are:

Poloniex - They are one of the best trading site and they are doing their best to maintain their reputation and they always maintaining good amount of coins and only limited based on their activeness.

Bittrex - Most of the new legit coins are getting here which give you advantage to buy it on an early age.

Yobit - A lot of coins to choose from, if you know how the whales move then you are going to make a lot of profit.

We can debate on the 'features' an exchange should have, but what makes an exchange 'perfect' is the trust issue. One really has to have that confidence in the exchange that it would not be involved in insider trading, won't run away with their money etc.

Another requirement would be decentralisation.

If there is something that establishes a transparency between users and exchange to establish this trust and if it can be decentralised, it will be a near-perfect scenario.

From my POV, the problem with decentralization is speed and fairness. How do you give all the users the same offers/prices at the same time?

I agree with your list and description. So far,Poloniex is good and neat to trade. Very many traders and transaction are fast,just be very careful and vigilant because you may lost very fast too. Bittrex, I like it because many big traders also, and the the one that I like is that it has no trollbox, whales and speculators cannot dictate nor induced FUD.

Of course, I understand your choice in terms of Poloniex. Of course this exchange deserves the understanding and approval of users. But I do not understand why people do not sing such circumstances that occurred on Bitfinex. Because I'm not the only one who was shocked by what was happening last summer.

Yes to those site; bittrex and poloniex have a lot of whales on their site and that is why it is good to trade on them because you can ride the waves of the whales in every coin and if you jump to the right time then you will earn profit because this past few weeks the price of the altcoins goes up pretty high and now they are dumping and that is a good buying opportunity because after the price of bitcoin goes down, the whales will start to play again.

In my opinion, it is already beginning. Really you are right. Today for the last month and Bitcoin began to grow. It is necessary to expect a very large collapse in prices on currency exchanges with respect to Bitcoin.

Yes we should be prepared for the price dump of bitcoin because the price got so high and people who bought their bitcoin at a low price still are still holding their coin until now and it is a threat for the bitcoin price because the price can collapse anytime and if it happen then we should buy the dumps and replace them in holding bitcoin for long term.

And this, as always, was to be expected. Only such an action can be expected not from the simple user who keeps coins in his possession, here are the large whales that manipulate the number of coins in the market make it possible to Buy more at a cheap price and sell at the highest price. I think soon you need to wait for the collapse.

If there is a pump then there is dump, that is how the market works so we don't need to be feel comfortable that the price will not go down because anything can happen and the price is very profitable to sell for early investors and that is what we should be prepared because if a dump occurs then it will be a big dump.

I do not understand how you can not worry about the price and cost of Bitcoin. Of course, if I bought Bitcoin even at a price several times lower than today, my excitement is not broken if the price falls. Even up to $ 1000. But the desire to make money on the price or the difference in the price of Bitcoin makes you worry.

For me, the perfect trading website is no other than Poloniex. Poloniex background is good which is interesting for traders. You're money is so secured in this site because once you are AFK it will automatically logout. The cryptocurrencies also in this site is legit thats why it has only small amount of cryptocurrencies and also its not delayed price which is the same on coinmarketcap price.

But their push API is far from complete...   >:(

There is no really a perfect site or an application on trading. Because you could used all if you want to. The success of your trading will depend on how you will manage it. If you have an old application in trading you can also earn by putting dedication and hard work. And just remember the basis aspect on trading so you can trade in a good way. You do not need to find a perfect application or site you will just need to choose one and do your best ti make it perfect and to earn more.

You got it right. You don't need a perfect trading site to trade because its useless if you don't know how to use a trading site properly in a first place. For me the top trading sites is working great for me and I don't need a perfect one.