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

[rijaljun]

What is certain in my opinion the main factor in choosing an exchange is considering the security and also the popularity or volume of trade. And besides that I usually also consider transaction and withdrawal fees.

Security? Well, that's great. But how would you consider that? Do you have something to share with me? like an example between two exchanges in this regard so that I can examine and compare other exchanges and be able to put security under my considerations.

[anshui]

The things to consider in new exchange varies upon the kind of platform you want to use , but few things remains inevitable that are

1. security like 2FA, google auth and other

2. How the website looks , like live feeds and all

3 .  what exactly it is offering in terms of advantages , like low fees, etc

4. Who are its Competetors

5 . You can simple put a small amount or you can simply go for small investment and trades , and then see if its good for you , and how support staff is helping you .

6 For P2P trades you can visit coinbaazar.com , LBC, also if you looking for centralized exchanges you can check who is available in your location.

[iv4n]

Look what pairs do you need, look for promotion, to get something more from your trading, look fees for trading and withdrawing. In the end you need to sum it up, how much you invested. how much you spent for fees, profit you made, and in the end to calculate what is clean profit, on a side from your investment.
Good exchange always have some nice promotion, good exchange have law fees and in possibility to lower them even more. For good exchange you don`t need to do KYC, it`s how I look on question what is good exchange.

[MIner1448]

For me, the most important thing is security and the real volume of trading on the exchange, most often the majority of exchanges overestimate the volume of trading for the rating, I pass by such exchange.

[ImineU]

Most definitely security.

Look what has happened in New Zealand.

https://btcmanager.com/grant-thornton-bankrupt-new-zealand-bitcoin-exchange-cryptopia-4-million-liability/?q=/grant-thornton-bankrupt-new-zealand-bitcoin-exchange-cryptopia-4-million-liability/&


Read the fine details folks.

[ricardobs]

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.

Well I think reputation covers everything. If an exchange is popular and has a good reputation, then there is no need for you going about and doing a research about it, though I was a bit disappointed at Binance on what happened this year, their exchange getting hacked or I don't even know if that's just a story they came up with but whatever it is, it was very disappointing. Anyway, there are still a lot of exchanges that has good reputation and are popular as well. There is Coinbase, though there are people who don't like them due to regulation. There are still others as well. A lot of people will tell you to check out their level of security, you only know what they let you know and that's it. Unless you will be looking for an exchange that has 2fa, if that's what you consider security.

[roosbit]

 For me what I look for in an exchange especially centralized ones
1. Good reputation in the public domain
2. Less to no deposit/withdraws experienced by customers
3. Fees are easily accessible
4. Clean and easy to use user interface
5. Minimum trades allowed should be visible and known before funding own account
6. If kyc is needed atleast below a certain amount one should use the exchange

And the obvious good support, good security etc

[darasinmi4show]

Good exchange are loaded with features as follows:
1. Centralise, 2. Good volume, 3. Scam free, 4 easy to deposits and withdrawn,  with all this features mentioned above I can say that an exchange is good

[Mahanton]

Good exchange are loaded with features as follows:
1. Centralise, 2. Good volume, 3. Scam free, 4 easy to deposits and withdrawn,  with all this features mentioned above I can say that an exchange is good

Scam free? There no exchange that do guarantee full safety yet all things are hackable.

Centralized? Typical thing on most exchangers existed as of this moment.

High Volume? With this indicator alone you will able to know on which exchange been trusted or been used
by crypto community which signifies a good exchange on end.

[FUD Expert]

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.

Too bad that even the 2fa security feature is not even enough to protect us from hackers on our Binance account. I have huge expectations on the exchange and all the things I consider looking for a good exchange is already there but that incident change my mind. So now, the first thing I will consider is that it should never been hacked in its entire operation.

[Nellayar]

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.

These are all effective way and really helpful for newbies to know how a certain exchange differ from another. Due to the thousands of exchange that exists today, we have to be careful in selecting the best exchange that will fit to our necessity. If you just entering your assets to a certain exchange, you are just losing your capital and time.

[ice18]

Good exchanges also has a good reputation based from the trader or user community this includes no scam accusations, no hacking incidents, no malicious activities like funds disappearing, best security practices applied and most of all a good exchange has a huge volume which may satisfy a buyer or a seller to make transactions faster and easier and more convenient.   

[fourpiece]

The exchange should be popular and must be on the top exchange on coinmarketcap, and thier platform must be user friendly for all the traders, otp eveytime you login on your account to prevent unknown sign in.

[bitcoinisbest]

For me, the most important thing is security and the real volume of trading on the exchange, most often the majority of exchanges overestimate the volume of trading for the rating, I pass by such exchange.

Very important points you said and also along with it we would be looking is history as how long the exchange exists and did it faced any issue in between and how was is it resolved. Are the customers overall happy with the exchange and does it offer quick support reply to the tickets raised by customers

[Indamuck]

Good exchanges also has a good reputation based from the trader or user community this includes no scam accusations, no hacking incidents, no malicious activities like funds disappearing, best security practices applied and most of all a good exchange has a huge volume which may satisfy a buyer or a seller to make transactions faster and easier and more convenient.   

Even exchanges with a good reputation have been "hacked: and stolen money from their customers.  No matter how reputable an exchange is the coins aren't truly yours unless you hold the private keys yourself. 

[buwaytress]

Even exchanges with a good reputation have been "hacked: and stolen money from their customers.  No matter how reputable an exchange is the coins aren't truly yours unless you hold the private keys yourself. 

One might even almost say that even an exchange with a shitty reputation, yet somehow finds a way to let people keep custody of their own private keys (without ever needing to share ownership with anyone else), should get first pick over a reputable exchange.

Besides, reputations are only as good as their last good/bad action.

Although, cryptopia really seems to have survived more than its fair share of bad reputation events cause people keep coming back to every new version born from the ashes of the last.

[Moshaid]

Security should be one primary focus although no exchange has maximum guarantee of safe funds that's why it's always to store your funds in your wallet. Also one has to consider past users experience because most exchange out there has bad users experience which leads to lost of funds amongst others. To add to this is the support channel, if an exchange takes a week or more to reply a customer complaint, then such user has to see that as a bad sign.

[SirLancelot]

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.

Like seriously, why do you all newbies like to stress yourselves?? The worst part of it all is that you can't even do the research. Asking what's the best ways to know a good exchanges doesn't help you in any way. Okay I have seen some people mention security, so how the heck are you going to know the level of security of any site when you don't even work there?? That's funny seriously. Instead of all these stress, you should just go for the popular exchanges. There is coinbase and there is binance, so no need for all these questions. Just go for the popular exchanges and you will be safe, these ones are not going to mess with you cause they care a lot about their reputation.

[Bezobraznike]

   I am not an active trader. Better to say I'm a holder. But it happens when I need to exchange my coins.
In such case I look on the fee which an exchanger takes, as for the exchange as for cashing out. Those two things I look first when I need the exchanger.

[diazepam666]

While you're looking for good exchanges you need to do some research. In the basis of volume, circulation, security, wide usage and liquidity. Nowadays exchanges are getting frame because of their community fame.
If the have a strong community, they are ready to put their money in the the new IEO whichever coming from that exchanges.
Best exchanges as my knowledge,
Binance
Bitrex
Bitmax
Etherdelta
Cryptopia