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Author Topic: How to pick the best cryptocurrency exchange?  (Read 389 times)
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August 09, 2018, 02:49:46 PM
 #21

my pick source is from coinmarketcap rated exchange like binance it's very trusted and safe also daily volume high there is ni manipulation

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August 09, 2018, 02:49:57 PM
 #22

In my opinion, maybe now there are many cryptocurrency exchanges available, but in my opinion, if you want to choose the best exchange and choose the best, you have to know the level of security, the level and type of security mechanism used by exchanges is very important to ensure that your coins are safe.

Examples of good security practices carried out by exchanges include:

Maintain deposits in cold storage; this means your coins are stored safely offline, outside the range of hackers

Availability of 2 factor authentication options (2FA); 2FA increases the security of your account

Email encryption and verification; for each transaction there will be an email sent to your account to confirm the transaction
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August 09, 2018, 02:59:03 PM
 #23

I prefer the exchange that has cheap transaction fees. coibene and idex are not major exchanges, but the transaction fees are cheap.

but, I also like bitfinex, even though transaction fees are expensive, but every altcoin listed on bitfinex always grows well.

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August 09, 2018, 03:11:49 PM
 #24

I would like to know which is the best cryptocurrency exchange. I am currently using bittrex but it doesn't have much coins listed in it. Which are the other good alternatives?

It generally depends on which coins you want to use on the exchanges. In my opinion, every coin has its own good exchanges and bad exchanges.
You just have to make a comparison of the coins you have on the exchanges that are listed.

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August 09, 2018, 03:13:55 PM
 #25

I would like to know which is the best cryptocurrency exchange. I am currently using bittrex but it doesn't have much coins listed in it. Which are the other good alternatives?
You can go to coinmarketcap and find all the cryptocurrency exchanges . Some exchanges have very very high withdrawl fees like Hitbtc , some has low withdrawl fee but not trusted like Idax , Mercatox but not so trusted. Some has huge volume but not so user friendly like gate.io , bittrex , hitbtc. And now most exchanges give rewards to users. According to these factors you can check the suitable exchange for you. But my favourite exchanges are BINANCE and KUCOIN. I use mostly these two , and if any currency not listed in these two then find in coinmarketcap in which exchange they are listed and then find the most suitable one for me . Again some exchanges needs kyc for trading , normal withdrawl , try to avoid these exchanges also. And always activate google authentication of the exchange you use more.

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August 09, 2018, 03:14:22 PM
 #26

Different coin or token with different exchange, one can not really select that this exchange is the best except the token or coin u wanted to exchange is listed there. But so far so good some exchange has been rated has first class exchange. They are: kucoin, binance, hitbtc etc. But there ate lot of new exchange that are also one of the best.
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August 09, 2018, 03:15:46 PM
 #27

Now there are many good exchanges. I think everything depends on the tasks and goals of the use of crypto-exchange.

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August 09, 2018, 03:15:54 PM
 #28

I see a lot of people are "rating" exchanges on the amount of Alt coins that are supported and I think that should be your last concern, when you are rating an exchange. Any exchange can list 1000s of Alt coins, but it is the volume that are traded and the security measures that are applied that count the most.

You need maximum trade volumes for competitive prices and also for successful trades. It will not help you, if you place a buy/sell order and you have to wait 3 weeks to fulfill that order, because of a lack of trading volume.  Roll Eyes

Do proper research and look for exchanges with good security measures. <You want your coins to be safe, whilst it is on those exchanges>

Correct. And if this is what we will be talking about here then better put this thread on the trading discussion.
This aint about bitcoin anymore or about the exchange for bitcoin.
He is looking for something that will have a lot of altcoins inside. Maybe altcoin section could also be a better idea to where this should be.

Just do not go HitBtc or Yobit. Those have bad reputations underneath. We dont see it much here but there have been blogs and reports.

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August 09, 2018, 03:20:03 PM
 #29

Before comparing fees make sure the exchanges you are considering are:

1. In your country
2. Legally licensed businesses

If they are not, then you are taking a huge risk and have ZERO legal recourse if they just decide to keep your money. In bitcoin there is no protection other than what YOU do. There is no police department that will help you. You are on your own unless they have a business license. In that case the police will help you.

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August 09, 2018, 03:59:46 PM
 #30

I think that it is not very difficult to pick the best cryptocurrency exchanges, as their numbers are only a few. Bittrex and Binance and Kucoin have been doing very well over the past six months, so you can pick these.

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August 09, 2018, 04:03:05 PM
 #31

I would like to know which is the best cryptocurrency exchange. I am currently using bittrex but it doesn't have much coins listed in it. Which are the other good alternatives?


Binance is one of the good exchange for trading. Actually Binance is better than bittrex. Lowest trading fee and most of the coin listed in this exchange. Better try this

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August 09, 2018, 04:38:22 PM
 #32

coinmarketcap.com is the main source where you can see where the toggle is better than this or that token! There are also correct links to exchanges and exchangers! there and you will find the best price for your crypto coins!

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August 09, 2018, 04:49:58 PM
 #33

The best exchange that i use so far i will say it is binance for centralise exchange if you are referring to decentralise idex and etherdelta is a good exchange to use.

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August 09, 2018, 04:52:26 PM
 #34

Check their names on coin market cap , u can go through their website and read one or two things how secure ur fund is with them , u can also read users review about them online , but don't keep any coin u are not ready to trade in an exchange acc
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August 09, 2018, 04:55:01 PM
 #35

The most important parameters for choosing a crypto-exchange are reputation and reliability. The matter is that stock exchanges have been subjected to attacks by hackers. There were cases of closing stock exchanges due to theft of funds. The fraud by owners is possible too. Therefore, exchanges under the jurisdiction of the United States, Japan, China, South Korea, and other countries, where they are somehow regulated by the state, are considered to be the most reliable ones.
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August 10, 2018, 06:26:01 AM
 #36

I would like to know which is the best cryptocurrency exchange. I am currently using bittrex but it doesn't have much coins listed in it. Which are the other good alternatives?
The number one suggestion would binance as you can see and it has been proven that this exchange is one of the best and reached the top for few months.

Idex is also a good one for ETH/ERC20 tokens. What type of coins you prefer to trade?

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August 10, 2018, 06:36:44 AM
 #37

I recommend livecoinwatch.com which unlike coinmarketcap also includes KRW (Korean Wan) Volume. The exchanges with the highest volume or if you prefer a DEX (Decentralized Exchange) which is more decentralized and private. Also some new altcoins may only be on smaller exchanges, and not the big high volume exchanges (yet), which means if there are certain altcoins you want to invest in, then you may have to register on certain exchanges.

I always recommend that once you buy coins on an exchange, pull them into a local wallet, backup, encrypt, then backup again (somewhere external like cloud storage). The reason for this is 1) Exchanges often purge trade history and can sometimes delist altcoins b) That way you own the private keys, which is more secure 3) If coins ever go through a fork or swap of some kind, although it can be easier sometimes on an exchange, if you hold the privat keys you can deal with the swap or fork in your own time, rather then having to concerned with how the exchange handles it.

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August 10, 2018, 06:44:46 AM
 #38

In my opinion, maybe now there are many cryptocurrency exchanges available, but in my opinion, if you want to choose the best exchange and choose the best, you have to know the level of security, the level and type of security mechanism used by exchanges is very important to ensure that your coins are safe.

Examples of good security practices carried out by exchanges include:

Maintain deposits in cold storage; this means your coins are stored safely offline, outside the range of hackers

Availability of 2 factor authentication options (2FA); 2FA increases the security of your account

Email encryption and verification; for each transaction there will be an email sent to your account to confirm the transaction

Security is my no. 1 priority so I completely agree with you: it is really important to check the security mechanism used by the exchange.
And I think that 2FA is a must!

Also, recently I was reading some article regarding the passwords and how are they stored in the database: it shocked me when I figured out that a lot of services (not just strictly cryptocurrency exchanges) are just storing the passwords in the plain text and do not use hashing. :O

Anyhow, choose the exchange based on your preferences and needs but keep in mind that should definitely focus on security aspects as well.
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August 10, 2018, 03:25:06 PM
 #39

I think there is no such thing as the best exchange, but there is the one that is most suitable for you. In order to detetmine which is the most suitable for you, You have to consider many factors, such as transaction fee, transaction volume, prices, markets, etc.
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August 10, 2018, 03:53:23 PM
 #40

but it is the volume that are traded and the security measures that are applied that count the most.

Volume is a good thing to consider when choosing an exchange but also at the same time it shouldn't be the only thing you consider. there are exchanges that have high volume but are the worst. for instance Yobit reports ridiculously high volumes for some coins but if you look at the orderbook there is no possible way it can have that much volume.

I was more thinking about the regulated exchanges with high volumes. I know back in the day, some of these Chinese exchanges did the exact same thing, because they competed with other local exchanges and they inflated the trading volumes, but I think those problems have been mostly solved with some oversight from some of these governments.

Obviously this will not be my only criteria, but certainly one of the more important ones.  Grin

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