A tip for choosing the exchange.

[fastrabbit]

Exchanges establish their own fees. The fees are different not only between exchanges but sometimes between different trading pairs on the same exchange. Use a free service like Switchain to compare rates between a few different exchanges for each individual transaction.

There are custodial and non-custodial exchanges. Put simply, the first ones hold onto your assets that you leave with them which is what makes it vulnerable. Once it's hacked there's nothing you can do but watch. Non-custodial ones only hold your assets for the time necessary to complete the exchange.

Hope this helped.

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[Renaldi blackspadeteam]

yes, every Cryptocurrency exchange sets its own costs, and you are right there are some vulnerable and cracked cryptocurrency exchanges, for example cryptocurrency exchanges in Japan that have recently been hacked,

[karungbitcoin]

Good exchange is exchange that operated more than 2 or 3 years and they has good reputation, never get any hack and comply with the regulation in the country their located. I used Bittrex and Poloniex more than 2 years and i have balance in that exchange also since 2 years and untill now that my balance is safe. So this both exchanges is one of the best exchanges.

[taiwww]

I guess due to this mess we have the exchanges with lot of new added features where they are offering their own coins for us to use as fees. If you use them for paying the trading fees or withdrawal fees then you literally get flat 50% off on your fees. Thus it makes the life simpler that way.

I guess there are many more exchangers like this, for example recently I have seen lunch of new exchanger called as TowerX Exchanger which is giving you huge benefits of holding their coins as well as paying the fees with it. You get flat 50% off on all your fees. I guess its pretty good isn't it.

[Tytanowy Janusz]

For investors (long term traders) trading fees are unnoticable. They are noticable for daytraders/ short term traders. But for them there are thing that are dozen times more important (like liquidity, spread, trust, interface, sharpness (time from creating order to beeing it anable to fulfill by other trader - simply if i create order and its on market 10 s after, then i cancell it and i have money 20 seconds after - its not for daytrader)

So this tool is useless. Trading fees are not the only factor in choosing exchange.

I have 1 feature of good trading platform. Its name has to be Binance. That the best option for regular trading. Its sharp, without fake trades, has great interface, its secured the most. Binance help even users with hacked API kays. It also has highest volume (lowest spread) and very low trading fees. I've used at liest 10 exchanges (just to utilize shitcoins that i had for free). Noone was even close to binance. And none of new trading platforms will ever get close to binance because every new one will have volume close to 0 (huge spread). To convince me to switch from binance it must mature, get good reputation, survive few hackers attack without loosing coins and get massive volume. I dont think that it is possible in less than year.

[darthmaul]

I guess fees are not only the concern the crypto currency exchanges what should be more concerning is security and safety of the funds that we are trading over them. Now at any point we will always be holding more than 1000 USD over the exchanger with different coins and tokens. Thus it must be a secure exchanger and we better not be victim of hacks and leaks that keeps happening these days.
For me it doesnt matter if the fees are 0.1% or 0.05% by using their tokens because thats just tiny fraction of the what we are trading and thus it should not be very concerning for us at all. Thats just my thought regarding the crypto currency exchangers.

[jrrsparkles]

Pick the exchange where the trading fee will be based on the percentage which can be helpful for the people who are trading with low capital and also choose the exchange where the withdrawal fee is less fee because there are many exchanges like Hitbtc have flat withdrawal fees for each coins.

[danherbias07]

Cheaper transaction fees.
They should really try to implement this to every exchange out there.
People already knew how risky it is to leave your funds in an exchange so why not give them the benefit of going in and out without hurting much from the fees.
There is still profit there, specially you are helping miners with it.
But with huge fees? They are forced to stay and when sh1t happens they cannot even get out that easily.

[bitcoin31]

This is good comparison about fees of exvhanges site. We looking different for exchanges site and for sure we have favorite exchanges site and this tips maybe is useful to other people like newbie who starting trading.

[Rose119]

Exchanges establish their own fees. The fees are different not only between exchanges but sometimes between different trading pairs on the same exchange. Use a free service like Switchain to compare rates between a few different exchanges for each individual transaction.

There are custodial and non-custodial exchanges. Put simply, the first ones hold onto your assets that you leave with them which is what makes it vulnerable. Once it's hacked there's nothing you can do but watch. Non-custodial ones only hold your assets for the time necessary to complete the exchange.

Hope this helped.

That's nice to share this, it's very useful to all newcomers here in forum to get an idea for choosing about in exchange site. Actually, there are many popular exchange site that we can use like bittrex, binance and poloniex etc. Just be careful to used it, study first on how to used it.

[bit-freedom]

Thanks for the tips. IMO, reputation of exchanges and trading volumes are important apart from trading fees. It is good to weigh these factors when choosing an exchange.

[guoyu78]

Good exchange is exchange that operated more than 2 or 3 years and they has good reputation, never get any hack and comply with the regulation in the country their located. I used Bittrex and Poloniex more than 2 years and i have balance in that exchange also since 2 years and untill now that my balance is safe. So this both exchanges is one of the best exchanges.

Necessarily does not have to be more than 2 or 3 years, but most of the time, there is always something that comes with reputation and for an old exchange that has been doing well, it is normal for traders and investors to want to tend to that area.

Moreover, if we are to be looking at years, I am sure HitBTC has been on for quite some years now, and if we really are to judge based on that, I am sure you will definitely know the answer to give in terms of using HitBTC or the likes of Yobit.

There are new exchanges that are building good reputations, have a nice platform, very good fee and a nice support, and as far as I am concerned, as long as you know the exchange is compliant to a regulatory body and all these things are in place, then there is nothing stopping you as a trader from using such e.g. the likes of binance and Kucoin.

[Reid]

Exchanges establish their own fees. The fees are different not only between exchanges but sometimes between different trading pairs on the same exchange. Use a free service like Switchain to compare rates between a few different exchanges for each individual transaction.

There are custodial and non-custodial exchanges. Put simply, the first ones hold onto your assets that you leave with them which is what makes it vulnerable. Once it's hacked there's nothing you can do but watch. Non-custodial ones only hold your assets for the time necessary to complete the exchange.

Hope this helped.

And mostly what happens is they stay in the exchange to avoid the large transaction fees.
The problem is they will get something out of your trade and then they will take another from your withdrawal.
Miners fee + others. Can't they just change it into dynamic mode? One of the questions I have been trying to look for answers.

Another is like HitBtc which is a robbery. Deposit fees. Ergh. That is just too much if you add the payment that you will have to do from all that little move you made. 

[Slow death]

For investors (long term traders) trading fees are unnoticable. They are noticable for daytraders/ short term traders. But for them there are thing that are dozen times more important (like liquidity, spread, trust, interface, sharpness (time from creating order to beeing it anable to fulfill by other trader - simply if i create order and its on market 10 s after, then i cancell it and i have money 20 seconds after - its not for daytrader)

So this tool is useless. Trading fees are not the only factor in choosing exchange.

I have 1 feature of good trading platform. Its name has to be Binance. That the best option for regular trading. Its sharp, without fake trades, has great interface, its secured the most. Binance help even users with hacked API kays. It also has highest volume (lowest spread) and very low trading fees. I've used at liest 10 exchanges (just to utilize shitcoins that i had for free). Noone was even close to binance. And none of new trading platforms will ever get close to binance because every new one will have volume close to 0 (huge spread). To convince me to switch from binance it must mature, get good reputation, survive few hackers attack without loosing coins and get massive volume. I dont think that it is possible in less than year.

I totally agree and I hope that more people read your post and realize that a good exchange should have all that you mentioned in your post.


OP, I do not think you should worry too much about the fees that are charged, but worry about the things that @Tytanowy Janusz mentioned. Imagine that one day you use yobit because the yobit bastards would be charging very low fees, but at the time you withdraw your coins do not get in your wallet and yobit support ignores you for years. in the end it was not a good decision to use yobit

[coinplus]

In as much as fee is one major factor for trading and choosing an exchange, most especially for high volume traders, I would still not say it should be the only criteria to choosing an exchange. There are so many exchanges out there, and you really want to be sure, you are not ending up with the wrong one all in the name of looking for lower fees.

It is important to check the reputation of each exchange in terms of security, support and some other relevant things which includes fee as these should be the criteria you will be putting all together to know where you want to be trading. Like many people here, based on listing of one trading-pair, I am forced to sign up with an exchange. At those times, just checking with coinmarketcap and finding that coin's all exchange are the few steps being followed before signing up with an exchange.

[Iykecolyno]

Security of funds should be paramount in selecting an exchange, hence I go with known and well established exchanges, then other important factors should be about the fees, both trading and withdrawal, volume, trade pairs and quick responses to user issues. Then am fine

[JosefinaCrane]

There are no sure shot tips that can guide you for selecting the best in the industry. One can surely conduct proper research before finalizing a deal. You can read articles on the internet and get guidelines from people who are already involved in trading on various exchanges. Some of the basic tips that you should consider before opting an exchange are mentioned below:-

Security:- An exchange must be equipped with high-security features ensuring the excellent safety of the funds of their traders.

Supports Multiple Cryptocurrencies:- As we all know that there is not just one cryptocurrency format known as bitcoin, but there are a lot of other cryptocurrencies in the market. You need to check whether the cryptocurrency you want to deal with is being traded on the exchange.

Liquidity:- It is necessary that the exchange offers sufficient liquidity and trading volume to help ensure your transaction is quick and easy.

Fees:- This is the most critical factor to be considered. You need to make sure that the fees that are charged by the exchange are not very high. At the same time, you do have to see that you are not selecting an exchange that charges very less or nominal fees, because if you pay next to nothing in transaction fees and then you might lose your funds to a potential hacker's attack. So always prioritize security over fees.

Location:- It is one of the factors which is neglected the most. The location of your selected exchange will dictate the regulations it will have to comply with.

The tips as mentioned above are being taken from a blog found online. To know more about the tips mentioned in the blog, you can visit the following URL:- https://medium.com/@ibinex/key-features-to-be-considered-before-choosing-a-crypto-exchange-b628a718e812

[beerlover]

mostly what happens is they stay in the exchange to avoid the large transaction fees.
The problem is they will get something out of your trade and then they will take another from your withdrawal.
Miners fee + others. Can't they just change it into dynamic mode? One of the questions I have been trying to look for answers.

Another is like HitBtc which is a robbery. Deposit fees. Ergh. That is just too much if you add the payment that you will have to do from all that little move you made. 

Even if we are listing exchanges, HitBTC should not even be counted among. This is an exchange that is engaged in day light robbery like you said, no support, not even a good platform to trade on, several attempt to keep stealing users fund and so much more and I still wonder why people still make use of this exchange by the way.

Normally, we should expect that exchanges will always tend to make a whole lot for themselves, and even though we may want to see something dynamic, they are in it for the business of rendering service and bills got to be paid, isn't it ? However, being lenient with the fees is one thing that we should clamor on, and for what it is worth, we have seen exchanges like Binance doing a great job so far.

[1Referee]

Even if we are listing exchanges, HitBTC should not even be counted among. This is an exchange that is engaged in day light robbery like you said, no support, not even a good platform to trade on, several attempt to keep stealing users fund and so much more and I still wonder why people still make use of this exchange by the way.

People (mainly noobs) these days look for exchanges with soft to no verification policies, and exchanges that continue to list utter shitcoins. Hitbtc checks all noob-requirement boxes, and for that reason it managed to grow out to where it is right now. I think it's safe to say that 7 out of 10 exchanges are straight garbage and operating illegally due them not having the required licenses and registrations.

In the end, can we really blame some of these exchanges for being absolute scam holes? It's people's fault to use these exchanges with how much information there is available to read into before signing up. The noobs using these exchanges make sure they they act as the demand needed by these exchanges to exist. Without noob demand there won't be any scam exchange. It's that simple.

People really need to start looking at themselves and acknowledge how they are the reason exchanges as Yobit and Hitbtc are still a thing today.

[Premooooo]

Go to coinmarketcap anf find some good exchanges for suited for you. Because top 10 in coinmarketcap is so nice and legit if you choose in for your trading work.