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Question: Choose and evaluate 4 (four) most influencing parameters for you, when you decide, what exchange to use for trading.
1. Crypto-favorable country of Exchange's registration - 2 (2.9%)
2. High degree of security - 20 (29%)
3. Fast and excellent customer support - 10 (14.5%)
4. Reliable reputation and positive clients feedbacks - 10 (14.5%)
5. The lowest fees - 11 (15.9%)
6. Ability to buy/sell at best prices - 10 (14.5%)
7. Availability of margin or/and derivatives trading - 1 (1.4%)
8. Ease of use - 5 (7.2%)
Total Voters: 23

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Author Topic: How to Choose Crypto Exchanges. Vote!  (Read 321 times)
fokinlipat
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February 14, 2018, 02:32:10 PM
 #21

Hello crypto enthusiasts!

I have drafted a topic summarizing (with your help) all types of existing and upcoming crypto exchanges: https://bitcointalk.org/index.php?topic=2918431.0

Now, to make that information even more usable, through evaluating each type of exchange,
let's consider the primary concerns of traders (us). That info will also help current and future Exchanges to fit our (traders) needs.

By voting on that topic kindly choose 4 (four) most influencing parameters for you, when you decide, what exchange to use for trading.


Here are the list of parameters and short explanations:


1. Crypto-favorable country of Exchange's registration
Means a comparatively low risk of exchange closure by regulators.
 

2. High degree of security
Means cold storage of crypto, 2FA, perfect protection of clients private data and funds.
 

3. Fast and excellent customer support


4. Solid reputation and positive clients feedbacks


5. The lowest fees on the market
Means the lowest total cost of trading: including deposit fee, trade fees, withdrawal fee and best limits policy.


6. Ability to buy/sell at best prices
Means an abundance of trading pairs, liquidity, real-time & not-fake auctions leading to most transparent prices.


7. Availability of margin or/and derivatives trading


8. Ease of use
Means a quite simple interface of an exchange.


Vote to make the crypto world more attractive for you and newcomers!

I do not like the fact that there is huge difference in buy/sell prices in almost all the exchanges in my country. It is hard to make a profit there unless you are investing for longer duration I hope new exchanges open there so that we have better features.
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Dany44
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February 14, 2018, 02:43:39 PM
 #22

An exchange should have no third-party service to hold users’ funds

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February 14, 2018, 02:55:04 PM
 #23

An exchange should have no third-party service to hold users’ funds

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What do mean? who are those third parties? Banks (holding an exchange's fiat on its accounts)?
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February 14, 2018, 03:08:31 PM
Merited by Kakmakr (1)
 #24

Fast and excellent customer support is one of my highest requirements, because I have dealt with Coinbase and their shitty

support. High degree of security is my highest priority, because I have also been a victim of an exchange that got hacked.

The other requirements is also important, but these two are not negotiable. Some exchanges are just bad and should be

avoided at all cost.  Angry

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belyaevi
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February 14, 2018, 03:25:15 PM
 #25

I choose mainly on one basis- how long the exchange has been in business. I do not want to risk my money with a new exchange which may run away with my money. Also, old exchanges have competitive fees.
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February 14, 2018, 05:04:17 PM
 #26

Fast and excellent customer support is one of my highest requirements, because I have dealt with Coinbase and their shitty

support. High degree of security is my highest priority, because I have also been a victim of an exchange that got hacked.

The other requirements is also important, but these two are not negotiable. Some exchanges are just bad and should be

avoided at all cost.  Angry

How exactly you check the security of the exchange, which going to use as a channel of trading?
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February 14, 2018, 06:57:04 PM
 #27

I choose exchanges which have less restrictions related to KYC. Also, most will say that we should prefer old exchanges but I think they charge higher fees.
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February 14, 2018, 07:02:38 PM
 #28

For me I often choose an exchange which has good trading volume, great number of coin and token can be able to trade on these exchange and the support team is active all the time. Beside I often have to go outside so many times in a day so I can't bring my laptop with me all the time so I often choose exchange that has trading app on mobile that why I'm using Binance exchange atm.

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February 14, 2018, 11:15:03 PM
 #29

who else doesn't want a highly secured exchange? though i think it's there non existing, even how hard the security is, hackers will still find a way to steal. We are too vulnerable from attacks since there is a lot of money in this market.

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Pattart
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February 14, 2018, 11:41:26 PM
 #30

Fast and excellent customer support is one of my highest requirements, because I have dealt with Coinbase and their shitty

support. High degree of security is my highest priority, because I have also been a victim of an exchange that got hacked.

The other requirements is also important, but these two are not negotiable. Some exchanges are just bad and should be

avoided at all cost.  Angry
Thats true, I think customer support is one of the most important things. because whenever a problem on the exchange site could happen and of course you will ask for help on customers support right. look for cs that are active and friendly. not like poloniex who is idling all my ticket until several weeks without any response. it's very annoying you know. I know they have a lot of problems but they do not provide any response including no press conf on twitter or anywhere.
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February 15, 2018, 12:28:03 AM
 #31

who else doesn't want a highly secured exchange? though i think it's there non existing, even how hard the security is, hackers will still find a way to steal. We are too vulnerable from attacks since there is a lot of money in this market.

Do such things like:
-  cold storage of crypto,
- 2FA,
- perfect protection of clients private data
- not taking clients' fiat at all

would be a good protection?
Ranly123
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February 15, 2018, 01:47:05 AM
 #32

Hello crypto enthusiasts!

I have drafted a topic summarizing (with your help) all types of existing and upcoming crypto exchanges: https://bitcointalk.org/index.php?topic=2918431.0

Now, to make that information even more usable, through evaluating each type of exchange,
let's consider the primary concerns of traders (us). That info will also help current and future Exchanges to fit our (traders) needs.

By voting on that topic kindly choose 4 (four) most influencing parameters for you, when you decide, what exchange to use for trading.


Here are the list of parameters and short explanations:


1. Crypto-favorable country of Exchange's registration
Means a comparatively low risk of exchange closure by regulators.
 

2. High degree of security
Means cold storage of crypto, 2FA, perfect protection of clients private data and funds.
 

3. Fast and excellent customer support


4. Solid reputation and positive clients feedbacks


5. The lowest fees on the market
Means the lowest total cost of trading: including deposit fee, trade fees, withdrawal fee and best limits policy.


6. Ability to buy/sell at best prices
Means an abundance of trading pairs, liquidity, real-time & not-fake auctions leading to most transparent prices.


7. Availability of margin or/and derivatives trading


8. Ease of use
Means a quite simple interface of an exchange.


Vote to make the crypto world more attractive for you and newcomers!

If i were to choose which crypto exchange would i prefer, i will choose the lowest transaction fees. It would be better because we can save dollars in those fees and cryptocurrency means earnings in such a way that you can also save.

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February 15, 2018, 02:22:21 AM
 #33

I think the higher level of security and lowest fees is an admirable one to choose an good exchange. My best exchange is poloniex, bittrex, cryptopia and binance they are so far the exchange in terms of high level of security. But when it comes to low fees I guess Kucoin and Cryptopia are the best.
pinkflower
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February 15, 2018, 03:50:55 AM
 #34

Fast and excellent customer support is one of my highest requirements, because I have dealt with Coinbase and their shitty

support. High degree of security is my highest priority, because I have also been a victim of an exchange that got hacked.

The other requirements is also important, but these two are not negotiable. Some exchanges are just bad and should be

avoided at all cost.  Angry

But name one cryptocurrency exchange that had an excellent customer support lol. I think theres none, except for BTCe, which turned out to be a part of a money laundering scheme.
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February 15, 2018, 06:58:18 AM
 #35

Fast and excellent customer support is one of my highest requirements, because I have dealt with Coinbase and their shitty

support. High degree of security is my highest priority, because I have also been a victim of an exchange that got hacked.

The other requirements is also important, but these two are not negotiable. Some exchanges are just bad and should be

avoided at all cost.  Angry

But name one cryptocurrency exchange that had an excellent customer support lol. I think theres none, except for BTCe, which turned out to be a part of a money laundering scheme.

People replying that support is one of the most important issues - it means that they are suffering now from the bad support experience. I want to say that this feature is not easily predictable BEFORE you start use one or another exchange.
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February 15, 2018, 07:53:39 AM
 #36

The highest level of securities and lowest fees is an admirable one to choose an good exchange.
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February 15, 2018, 07:57:01 AM
 #37

The best to choose is the highest security and the lowest fees that its
TheUltraElite
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February 15, 2018, 08:26:00 AM
 #38

I choose exchanges which have less restrictions related to KYC. Also, most will say that we should prefer old exchanges but I think they charge higher fees.

However do you know that why exchanges implement a KYC system? It is because money-laundering occurs in every financial sector and crypto is the one that has been used in a shady manner because of its (pseudo)-anonymous nature for many types of scams including credit/debit cards and fraudulent activity. Thus the KYC gives the exchange an idea of the trader and about the income of the person so that they can correlate the trades to be feasible or not.

Fees is another thing. However most popular exchanges have nominal fees unless of course you are dumping shittokens for few satoshis.

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ronics
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February 15, 2018, 08:43:53 AM
 #39

 Smiley my best security is that its great way to choose an exchange because we all know fraud and possibility for the lost crypto when it goes up I should not mention that our wallet is getting compromised. The lowest fee is just fine on the traders day but most of us will really ask for myself that an exchanger gain is just right at the cover of the cost of an operations actually look and combine at zero payout.just let's make my wonder where everyone has gain money to cover their cost .while good and quick response from customer support is also a good way to measure their response for problem solving until now .I think in a few should have the kind of capability to provide a support.
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February 15, 2018, 09:07:43 AM
 #40

I voted for Crypto-favourable country,High degree of security, lowest fees and ability to buy/sell at best prices. However, I think the most important influencing parameter for me is the high degree of security feature. There is no point having those other parameters only to have the exchange hacked and people's fund are then stolen!.
I vote also the ame way you do,it is very important that our wallets must have the best security .,and it has the low  of fees.
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