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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 282 times)
shulio
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February 15, 2018, 09:18:54 AM
 #41

I will check the security, fee amount and the exchanges reputation around the traders. Also the daily trade volume is also important.

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Jekbolt
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February 15, 2018, 09:33:04 AM
 #42

I will check the security, fee amount and the exchanges reputation around the traders. Also the daily trade volume is also important.

How do you check daily trade volume? You believe to the figures stated by an Exchange or use some other sources?

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shulio
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February 15, 2018, 02:17:12 PM
 #43

I check the daily trade volume from the exchanges trade screens. Other sources, like coinmarketcap, are taking the info from exchanges over api, so they are much the same.

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February 15, 2018, 09:28:58 PM
 #44

I check the daily trade volume from the exchanges trade screens. Other sources, like coinmarketcap, are taking the info from exchanges over api, so they are much the same.

Thanks for advise!

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February 17, 2018, 06:07:13 AM
 #45

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

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That’s true, you’re right. And when choosing an exchanger (especially newbies) should choose an exchanger with a good reputation online and not new exchangers that are yet to have reputation, cause they are taking a very big risk of losing their money. Crypto-favorable country of exchange's registration is one other thing that is quite good to be aware, but not really, cause all exchangers are not the same.

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February 17, 2018, 09:57:31 AM
 #46

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

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That’s true, you’re right. And when choosing an exchanger (especially newbies) should choose an exchanger with a good reputation online and not new exchangers that are yet to have reputation, cause they are taking a very big risk of losing their money. Crypto-favorable country of exchange's registration is one other thing that is quite good to be aware, but not really, cause all exchangers are not the same.

It's interesting question: how newbies choosing an exchange for trading. Actually not for trading but for buying.

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holtzmann
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February 19, 2018, 09:47:27 AM
 #47

I would like to vote for the security, reliable reputation and ease of use.These criteria are essential and important for any exchange user, in my opinion. I'd name also the lowest fees and quality support as  great bonuses to add when choosing the best exchange amongst secure,reputable and user-friendly.
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February 19, 2018, 10:52:27 AM
 #48

I do not think the eight choices above will be the foundation of option for some people. I care about the platform that has a large user base, has its Altcoin platform. There are many potential altcoin and trading platforms based on that.

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February 19, 2018, 12:17:31 PM
 #49

High degree of security is must for all sites dealt on currencies. Need to save from hackers. All expect best price to exchange. That has to be considered. Customer support should be in place to have an interaction on issues felt. The sites should be designed to have user friendly features. As said, positive feedback and reviews should be received from the users. This gives the sign of all aspects.

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February 19, 2018, 02:34:48 PM
 #50

I do not think the eight choices above will be the foundation of option for some people. I care about the platform that has a large user base, has its Altcoin platform. There are many potential altcoin and trading platforms based on that.

Having a lot of altcoins listed is not always a good exchange. Take the example as our very close EtherDelta where every ether shittoken gets listed the moment its unlocked. The site had problems recently and users ended up putting their private keys in a impersonating site. Thus losing their tokens and their ethereum.

Decentralized exchanges are far from safe. I would prefer to do KYC and trade on a centralized exchange. However I hope that in future decentralized exchanges become more popular than now and more safer.

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February 19, 2018, 02:46:30 PM
 #51

I do not think the eight choices above will be the foundation of option for some people. I care about the platform that has a large user base, has its Altcoin platform. There are many potential altcoin and trading platforms based on that.

Having a lot of altcoins listed is not always a good exchange. Take the example as our very close EtherDelta where every ether shittoken gets listed the moment its unlocked. The site had problems recently and users ended up putting their private keys in a impersonating site. Thus losing their tokens and their ethereum.

Decentralized exchanges are far from safe. I would prefer to do KYC and trade on a centralized exchange. However I hope that in future decentralized exchanges become more popular than now and more safer.

That's due to phishing, and not a problem with the original exchange. No exchange can save users from being foolish and clicking on phishing ads on Google.

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February 19, 2018, 03:40:55 PM
 #52

I would like to vote for the security, reliable reputation and ease of use.These criteria are essential and important for any exchange user, in my opinion. I'd name also the lowest fees and quality support as  great bonuses to add when choosing the best exchange amongst secure,reputable and user-friendly.
These are also my choice when choosing crypto exchange; reliable reputation with positive clients feedback and ofcourse the security. Yes security are very important for an exchange for a better processed in when using the exchange. There are many factors to consider because for us not lose any single amount when we have funds in the exchange.

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February 20, 2018, 10:33:00 PM
 #53

The same poll but published by me on the another up-thread show slightly different results-) it's interesting...

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February 20, 2018, 10:36:54 PM
 #54

Even though it is not fast .
we just need security on putting our coin on a Exchanger  so we dont have to
worry about it

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February 20, 2018, 10:55:12 PM
 #55



How, for example, do you check the reputation of an Exchange? Are you just asking on btk or use some other sources?

Google the name of the exchange + "scam". When people have problems they post about it on reddit or in forums like this - and it will come up in the search results with "name-of-exchange scam".

Read all those posts to see what the problem is. Sometimes it's obvious that it's user error and they're just blaming the exchange because they don't want to admit they cocked up. But other times, they highlight serious problems with teh exchange. Look in particular for difficulties in withdrawing funds.

There will always be people with problems, doesn't matter the exchange. 50% of the people investing in crypto is a bit dumb.

The most important thing to look for is that you can withdraw your funds when you want, have 2FA, low exchange fees and liquidity. Binance is one of the best exchanges right now, I also like Kucoin, but there are some DEX trying to highlight.
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February 21, 2018, 01:45:06 AM
 #56

I will check the security, fee amount and the exchanges reputation around the traders. Also the daily trade volume is also important.

How do you check daily trade volume? You believe to the figures stated by an Exchange or use some other sources?
To be trusted or not I think daily volume doesn't really affect. unless you are an active trader of course a large daily volume will be much needed
the reputation of an exchange must also be checked, certainly to avoid cheating, fraud and scam from these sites.
customer support is friendly and fast response is also very needed, sometimes technical problems come at any time right?
cheap fees on trading and withdraw is also very necessary lol

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February 22, 2018, 06:48:26 AM
 #57

I will check the security, fee amount and the exchanges reputation around the traders. Also the daily trade volume is also important.

How do you check daily trade volume? You believe to the figures stated by an Exchange or use some other sources?
To be trusted or not I think daily volume doesn't really affect. unless you are an active trader of course a large daily volume will be much needed
the reputation of an exchange must also be checked, certainly to avoid cheating, fraud and scam from these sites.
customer support is friendly and fast response is also very needed, sometimes technical problems come at any time right?
cheap fees on trading and withdraw is also very necessary lol

Someone likes Kraken exchange support. Yes,, they are good but waiting 15 days for 3 sentences reply!! and then again 14 days and again - stupid support! IS it so hard to hire 100500 support agents from Philippines?

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February 22, 2018, 07:15:30 AM
 #58

For me the top priority to be able to choose Exchange for commerce is security, because crypto is anonymously so when lost it can not be retrieved so the security of the commercial site must be true. good to ensure the safety of the property of investors. Next comes features such as low transaction fees, reputation in the community, good investor support. There are some criteria that I usually choose to trade.

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February 23, 2018, 06:19:59 AM
 #59

For me the top priority to be able to choose Exchange for commerce is security, because crypto is anonymously so when lost it can not be retrieved so the security of the commercial site must be true. good to ensure the safety of the property of investors. Next comes features such as low transaction fees, reputation in the community, good investor support. There are some criteria that I usually choose to trade.

Do you prefer to use one or many exchanges? If many then how many?

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