what are the things to consider when looking for a good exchange?

[Insufficient]

I am a trader or at least that is how i see myself. I trade on binance, okex, idex, mercatox, bittrex, houbi and some other exchange. Lately i notice a lot of new crypto exchange popping here and there. And as much as i know and safe guard my password and secure my account with 2fa, I am still curious of the factors other traders consider when they are signing up on a new exchange. Would love to know some of your key factors so i might look into those too.

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[Bitcoin_Arena]

Personally I look at
1. Security : The most important of all since we are dealing with money. Security has to be tight and exchange has to have a swift response in case of any attacks or attempts to hack

2. Popularity: Much more popular exchanges are my preference since they have a large community around them. The larger the community, the easier it is to spot scam... Less popular exchanges can easily scam and exit with your money.

3. Team and Support: is the team transparent? Is the support swift and helpful? You don't wanna get stuck with some issue and there is no one to help you urgently

4: Trading Fees and Withdrawal Charges: I prefer exchange with less trading fees and withdraw charges plus incentives like Binance has with BNB and Kucoin has with Kucoin shares.

5: Third-party Mobile apps: These make trading easier on the go. Some exchanges have lagging websites but the mobile apps are smooth to trade with. i have traded so far with the Kucoin, Huobi, Binance and Okex apps. Very smooth and nice experience

[Insufficient]

Personally I look at
1. Security : The most important of all since we are dealing with money. Security has to be tight and exchange has to have a swift response incase of any attacts

2. Popularity: Much more popular exchanges are my preferance since they have a large community around them. The larger the community, the easier it is to spot scam... Less popular exchanges can easily scam and exit with your money.

3. Team and Support: is the team transparent? Is the support swift and helpful? You don't wanna get stick with some issue and there is no one to help you urgently

4: Trading Fees and Withdrawal Charges: I prefer exchange with less trading fees and withdraw charges plus incentives like Binance has with BN and Kucoin has with Kucoin shares.

5: Third-party Mobile apps: These make trading easier on the go. Some exchanges have laggy websites but the mobile apps are some to trade with. J have so far like the Kucoin, Huobi, Binance and Okex apps

Thank you so much for sharing. It really can be a bit overwhelming sometimes to keep signing up to new exchanges. I will definitely consider all your tips and recommendation. So elaborate and clear. thank you for taking the time to answer me. There are obvious pointers but often times with my busy life and chart watching i tendcto forget about some of those. Truly appreciate you.

[Bitcoin_Arena]

Thank you so much for sharing. It really can be a bit overwhelming sometimes to keep signing up to new exchanges. I will definitely consider all your tips and recommendation. So elaborate and clear. thank you for taking the time to answer me. There are obvious pointers but often times with my busy life and chart watching i tendcto forget about some of those. Truly appreciate you.

Its pleasure to help you. We are out here to help each other in whatever way. Happy trading  

[totality_ai]

As a crypto software developer, I look at everything from the user perspective.

1. The user needs to be in complete control of funds. Once the coins are on the exchange, it's too late to try to secure them.

2. The user needs a frictionless  transaction experience. People are tired of multi-step verification.

3. The user needs a way to share in the profits. There are enough fees being generated to spread the revenue fairly.

[harizen]

Basically you are pointing to those numbers of new exchanges that popped out somewhere.

I will just consider using them once my token got listed there and will wait first for feedbacks by other users on that token group. And after hearing a bit of "good" feedbacks I will personally test the waters and the rest will be history. But take note that we must used our common sense to see that a new exchange is a sh*t or not.

2. Popularity: Much more popular exchanges are my preference since they have a large community around them. The larger the community, the easier it is to spot scam... Less popular exchanges can easily scam and exit with your money.

Since it's new, most of them are not popular yet. Up to others if they will wait for it to become "popular".

5: Third-party Mobile apps: These make trading easier on the go. Some exchanges have lagging websites but the mobile apps are smooth to trade with. i have traded so far with the Kucoin, Huobi, Binance and Okex apps. Very smooth and nice experience

Since again, they are new. Implementation of their mobile app version is not present during their first phase in most of the cases.

[hermankoles]

what I searched first for the new exchange on Google or another big forum was how much the problem arose from the exchange platform, if many forums and other articles stated that I would leave it scam. but if they only discuss technical issues in the exchange I will consider it.

[Insufficient]

As a crypto software developer, I look at everything from the user perspective.

1. The user needs to be in complete control of funds. Once the coins are on the exchange, it's too late to try to secure them.

2. The user needs a frictionless  transaction experience. People are tired of multi-step verification.

3. The user needs a way to share in the profits. There are enough fees being generated to spread the revenue fairly.

Good pointers! Really helpful. Not every exchange offers "share" in the profits. I wish every exchange would be required to do so in the future. Appreciate you and your time for sharing, Thank you

[hugeblack]

Daily trading volume: maybe It’s the key to the trade-off between those platforms. You can use some sites like https://coinmarketcap.com/exchanges/volume/24-hour/

Technical support as I can not access the private keys for those currencies. Slow technical support is a negative indicator for choosing the platform.

Evaluation of the platform and related problems: Whenever there are a lot of unresolved problems related to the platform whenever avoided.
The rest of the things can be ignored.

[jossiel]

I don't pay attention to the new exchanges unless there's a coin that I hold and its listed to that new exchange. But that's not all, I'll check if the volume there is quite good but if its totally zero, why would I'll waste my time trading there?

The security shall always go number one concern but don't trust it completely to the exchange. Be a responsible trader not only with your trades but together along the way you keep your records. We are also the one that must be liable and vigilant to it though the number one concern should really go first. But considering what's good now is easy, if you'll just echo with the crowd.

[Xiroartoni]

I am a trader or at least that is how i see myself. I trade on binance, okex, idex, mercatox, bittrex, houbi and some other exchange. Lately i notice a lot of new crypto exchange popping here and there. And as much as i know and safe guard my password and secure my account with 2fa, I am still curious of the factors other traders consider when they are signing up on a new exchange. Would love to know some of your key factors so i might look into those too.

here everything is quite simple. Every self-respecting trader is looking for an exchange with a minimum withdrawal percentage, because all profit is considered as a percentage. That's the first thing to look at. The second thing I would like to draw attention to is the stability of the exchange. Not pleasant, when the exchange is often spent on technical work. This is very inconvenient and often leads to partial loss of funds. Third, you should look at the trading volume of a coin. This will allow you to quickly sell the coin in case of negative news or urgent need for money. There are still a lot of criteria for the selection of exchanges, but they are mostly individual. I hope you've already figured it out and are happy to share it with others)

[gamechangers]

Firstly, note that it is not advisable to leave your cryptocurrency on any exchanges for long regardless of the perceived level of security. They may be hacked. What I do mainly is to check the review of the exchange from users. I get a lot of feedbacks doing this. All I need to know about security, customer care etc will be revealed.

[Insufficient]

Basically you are pointing to those numbers of new exchanges that popped out somewhere.

I will just consider using them once my token got listed there and will wait first for feedbacks by other users on that token group. And after hearing a bit of "good" feedbacks I will personally test the waters and the rest will be history. But take note that we must used our common sense to see that a new exchange is a sh*t or not

2. Popularity: Much more popular exchanges are my preference since they have a large community around them. The larger the community, the easier it is to spot scam... Less popular exchanges can easily scam and exit with your money.

Since it's new, most of them are not popular yet. Up to others if they will wait for it to become "popular".

5: Third-party Mobile apps: These make trading easier on the go. Some exchanges have lagging websites but the mobile apps are smooth to trade with. i have traded so far with the Kucoin, Huobi, Binance and Okex apps. Very smooth and nice experience

Since again, they are new. Implementation of their mobile app version is not present during their first phase in most of the cases.

I also sign up for a new exchange when my coin is only listed there but almost every exchange require personal info and i must admit there are times when i would just deposit my coin and opt not to trade that very same day simply because i dont think the price is not reasonable yet. Thank you for sharing your insights. I always appreciate people taking their time to help. Cheers!

[Insufficient]

Firstly, note that it is not advisable to leave your cryptocurrency on any exchanges for long regardless of the perceived level of security. They may be hacked. What I do mainly is to check the review of the exchange from users. I get a lot of feedbacks doing this. All I need to know about security, customer care etc will be revealed.

Thank you! I also do that sometimes, I will keep that in mind next time before considering signing up on a new exchange  users are the most reliable when it comes to an exchange and platforms experience.

[selardkinley]

I am a trader or at least that is how i see myself. I trade on binance, okex, idex, mercatox, bittrex, houbi and some other exchange. Lately i notice a lot of new crypto exchange popping here and there. And as much as i know and safe guard my password and secure my account with 2fa, I am still curious of the factors other traders consider when they are signing up on a new exchange. Would love to know some of your key factors so i might look into those too.

Since you have already got all those exchanges why still looking for me? And by the way you’re trading on too much exchanges, if I were you, two or three is enough cause there is no need to be trading a lot of exchanges. Just choose the one that suits you better and works for you, the one you’re very sure is reliable. If you’re trading with many you will be confusing yourself. And if you keep on jumping from one exchange to the other you might end up on an exchange that will turn out later to be scam and lose your money.

[Work4cryptos]

I don't pay attention to the new exchanges unless there's a coin that I hold and its listed to that new exchange. But that's not all, I'll check if the volume there is quite good but if its totally zero, why would I'll waste my time trading there?

The security shall always go number one concern but don't trust it completely to the exchange. Be a responsible trader not only with your trades but together along the way you keep your records. We are also the one that must be liable and vigilant to it though the number one concern should really go first. But considering what's good now is easy, if you'll just echo with the crowd.

Yes you’re right, it’s not good to pay attention to all as long as you’ve got the tested and trusted ones. The only time one can choose to go for another exchange is when they are holding and they find out that it is listed on a new site which they would like to trade. And before you go for that new exchange, it’s best to make a lot of research about them and even read reviews online about them before considering it as an option.

[Shafiqul Islam]

Good exchanges are always popular and most secure. I consider which exchange is better, exchange has more security systems, otp systems, Kyc security systems, popular, volume and market position etc.

[recklessMe]

The reputation and security are important issues to consider when choosing the exchange. For traders, the number of supported cryptocurrencies, payment methods, and liquidity also play a significant role. For me, margin trading offered by CEX (https://cex.io/margin-trading) is a critical issue. I know there are not many exchanges that provide this service today.

[jems]

I can't be said to be a great trader because I only do it occasionally. Even so there are several factors that I have always noticed before choosing an exchange to trade and the main factor is the volume of trading on the exchange. If the exchange has a large trading volume, I think there are many people who believe in the exchange so that they can provide a plus for newcomers, and the second is security.

[pedangrusak]

security services for me are the main thing because this is the key so that my crypto assets are safe and if it's safe, I won't worry about trading. The exchange must have a maximum level of security, attractive sales volume and also provide complaints available 24 hours.