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Author Topic: What attracts you to a good crypto exchange?  (Read 36554 times)
FinanceX (OP)
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August 28, 2018, 03:59:28 AM
 #1

Although there are obvious benefits to using certain crypto exchanges over others such as high liquidity and the ability to use your fiat currency (not so difficult for those USD holders), but what other factors attract you to a crypto exchange?

crypto-futures
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August 28, 2018, 06:42:02 AM
 #2

Although there are obvious benefits to using certain crypto exchanges over others such as high liquidity and the ability to use your fiat currency (not so difficult for those USD holders), but what other factors attract you to a crypto exchange?
Depending on where you are in the world there might not be many options. If you are spoiled for choice you can pick the one with the lowest fees, that supports your fiat and where you can cash out as quick as possible. I would rather use an automatic trading system than an OTC exchange because I feel it is safer.
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August 28, 2018, 07:02:43 AM
 #3

easy to find coins
FinanceX (OP)
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August 28, 2018, 07:04:57 AM
 #4

Although there are obvious benefits to using certain crypto exchanges over others such as high liquidity and the ability to use your fiat currency (not so difficult for those USD holders), but what other factors attract you to a crypto exchange?
Depending on where you are in the world there might not be many options. If you are spoiled for choice you can pick the one with the lowest fees, that supports your fiat and where you can cash out as quick as possible. I would rather use an automatic trading system than an OTC exchange because I feel it is safer.
Fiat is very important as traders often ahve to go through 2 exchanges to purchase any coin other than BTC. There are serious profits to be made on altcoins but you want to be able to cash-out directly. Fiat-to-altcoin trading pairs are amazing if the liquidity can be kept high Smiley

FinanceX (OP)
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August 28, 2018, 07:06:27 AM
 #5

easy to find coins
Do you mean having a large selection of coins? Some exchanges accept any coin which is annoying

crypto-futures
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August 28, 2018, 07:09:38 AM
 #6

Although there are obvious benefits to using certain crypto exchanges over others such as high liquidity and the ability to use your fiat currency (not so difficult for those USD holders), but what other factors attract you to a crypto exchange?
Depending on where you are in the world there might not be many options. If you are spoiled for choice you can pick the one with the lowest fees, that supports your fiat and where you can cash out as quick as possible. I would rather use an automatic trading system than an OTC exchange because I feel it is safer.
Fiat is very important as traders often ahve to go through 2 exchanges to purchase any coin other than BTC. There are serious profits to be made on altcoins but you want to be able to cash-out directly. Fiat-to-altcoin trading pairs are amazing if the liquidity can be kept high Smiley
It's also waaaay more fun on real-time automatic trading platforms  Grin
Tulanpa
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August 28, 2018, 07:14:58 AM
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Sincerely before I do use exchange without considering any factors. But of recent, I discovered I need consider the charges both deposit and withdraw.
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August 28, 2018, 07:19:30 AM
 #8

The confidence that wherever theres a problem, a support will come to save the day.
The communication is very important to me and that's how I'm gaining trust to these exchanges.
If the exchange is well known to have a very poor support that discourages us right?
So that factor isn't only important to me but to everyone for sure.


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nicecrypto
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August 28, 2018, 07:21:45 AM
 #9

Although there are obvious benefits to using certain crypto exchanges over others such as high liquidity and the ability to use your fiat currency (not so difficult for those USD holders), but what other factors attract you to a crypto exchange?
Depending on where you are in the world there might not be many options. If you are spoiled for choice you can pick the one with the lowest fees, that supports your fiat and where you can cash out as quick as possible. I would rather use an automatic trading system than an OTC exchange because I feel it is safer.
Fiat is very important as traders often ahve to go through 2 exchanges to purchase any coin other than BTC. There are serious profits to be made on altcoins but you want to be able to cash-out directly. Fiat-to-altcoin trading pairs are amazing if the liquidity can be kept high Smiley

Been able to trade directly to my country fiat would be one of my obvious first choices cos as already mentioned, trading through different exchanges/platform before been able to get the Alts you want, cost some additional fees.  
FinanceX (OP)
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August 28, 2018, 07:28:19 AM
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Although there are obvious benefits to using certain crypto exchanges over others such as high liquidity and the ability to use your fiat currency (not so difficult for those USD holders), but what other factors attract you to a crypto exchange?
Depending on where you are in the world there might not be many options. If you are spoiled for choice you can pick the one with the lowest fees, that supports your fiat and where you can cash out as quick as possible. I would rather use an automatic trading system than an OTC exchange because I feel it is safer.
Fiat is very important as traders often ahve to go through 2 exchanges to purchase any coin other than BTC. There are serious profits to be made on altcoins but you want to be able to cash-out directly. Fiat-to-altcoin trading pairs are amazing if the liquidity can be kept high Smiley

Been able to trade directly to my country fiat would be one of my obvious first choices cos as already mentioned, trading through different exchanges/platform before been able to get the Alts you want, cost some additional fees.  
Yes, the main problem would be that of liquidity, but if the altcoin is already established and popular there will be enough traffic trading with that fiat. Obviously, it also depends on the fiat and how many people trade with it Smiley

FinanceX (OP)
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August 28, 2018, 07:29:45 AM
 #11

The confidence that wherever theres a problem, a support will come to save the day.
The communication is very important to me and that's how I'm gaining trust to these exchanges.
If the exchange is well known to have a very poor support that discourages us right?
So that factor isn't only important to me but to everyone for sure.
When exchanges claim they have 24/7 support and you don't hear back from them for days, traders instantly lose confidence. They are holding your assets. They need to be able to reply quickly.

crypto-futures
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August 28, 2018, 07:49:41 AM
 #12

You have to be careful introducing fiat. Countries with a large population of traders definitely need their fiat with altcoin trading pairs. It makes for a much more interesting market when altcoins fortune isn't determined by that of Bitcoin and it gives educated traders more options.
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August 28, 2018, 08:01:28 AM
 #13

There is another reason for me to trade in exchange except support fiat trading pair, like low fees, reputation, volume, fast response from the support, etc.
Luxury331
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August 28, 2018, 08:04:17 AM
 #14

To trade well in cryptocurrency world you will need to do this in a very good exchanger so this is very important. One of those benefits that can attract you to a good exchanger is the volume and the market demand and a good market price
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August 28, 2018, 08:04:43 AM
 #15

I look out for liquidity, more number of good coins/tokens, easy withdrawals and deposits with low fee. more number of coins so that i could switch them easily without having to convert them back to eth/btc and then send it to another exchange and then buy the coins I want. It saves time and transaction fee too. Of course if loss limit is there then that's a bonus.
FinanceX (OP)
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August 28, 2018, 08:08:28 AM
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I look out for liquidity, more number of good coins/tokens, easy withdrawals and deposits with low fee. more number of coins so that i could switch them easily without having to convert them back to eth/btc and then send it to another exchange and then buy the coins I want. It saves time and transaction fee too. Of course if loss limit is there then that's a bonus.
In my opinion, there should be no fee to withdraw coins from an exchange and send them somewhere else. Exchanges should trust their platform enough to keep traders coins there, or perhaps that's the point. They know their exchange is inferior.

Kramblerty
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August 28, 2018, 08:11:30 AM
 #17

Although there are obvious benefits to using certain crypto exchanges over others such as high liquidity and the ability to use your fiat currency (not so difficult for those USD holders), but what other factors attract you to a crypto exchange?

The most important factors attracting users to an exchange are:

- Quick support service
- Security of funds
- marginal trading
- high liquidity
vladuch1
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August 28, 2018, 08:34:24 AM
 #18

To trade well in cryptocurrency world you will need to do this in a very good exchanger so this is very important. One of those benefits that can attract you to a good exchanger is the volume and the market demand and a good market price
Yes, you have the right volume of bidding and demand really have a decisive factor. I always trade in popular exchanges that offer a good price and have a large amount of trades.
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August 28, 2018, 08:40:11 AM
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A good reputation and high level of security are a must along with decent customer support, low fees and fast deposits and withdrawals (competitions to win a sports car are optional)

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August 28, 2018, 08:50:37 AM
 #20

For me a good cryptocurrency exchange must has good and enthusiastic support team, low fee and fast transaction, fast deposit and withdraw. It also must have automated withdraw, only use manual withdraw for big amount.
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