What do you need in A Cryptocurrency Exchange ?!

[Whosdaddy]

Hey everyone,
for all crypto traders , what do you think we need most in a crypto exchange ! right now there are thousands of them but how can you choose which one you trade on ? and what existing exchanges lack of ?

Honestly, volume is king in any exchange whatsoever. If the exchange has a decent volume that is not wash trading or fake volume then I am in.

I used to use cryptsy before they got "hacked" and left, then I started using poloniex because that was honestly the best place after cryptsy was gone and they had multiple coins and decent volume at the time, then bittrex came out and they were the best so I started using them and then binance is now the king in volume and everyone is using them so we are making a decent trading there. So, wherever gets more famous and gets all the volume I will be using that website.

[1714305136]

1714305136

[1714305136]

1714305136

[1714305136]

1714305136

[1714305136]

1714305136

[1714305136]

1714305136

[1714305136]

1714305136

[hridoyb]

Most of the people use binance and bittrex  for short or long time trade because it's fully secured, huge volume,24/7 support, and Instant deposit and withdrawal. You can find many exchangers but i am using this exchanger last 2 years and hope you will be satisfied for using this exchanger and also suggest this exchanger. Most of the people faced problem for delay deposit and withdrawal and low volume and support system are very poor but bittrex and binance and also kucoin is the best exchanger for me.

[sheenshane]

Security is the first thing we have to consider in Cryptocurrency exchange. As the startup companies of the exchange industry in cryptocurrency started/initiated the instant deposit and withdrawal, I think it is doing well in the present.

Supports are also the one thing to consider, questions and complain, improvements and technical support is really needed for people to enjoy the market better. There is a lot of people from the traditional stock exchange who are interested in joining our industry but the matter that hinders them is the confusions. Compared to us, much of them aren't really understanding the exchange and wanted to ask from the
specialist but since cryptocurrency industry doesn't have 24/7 support, that makes them say no.

[oegarod]

Security is the first thing we have to consider in Cryptocurrency exchange. As the startup companies of the exchange industry in cryptocurrency started/initiated the instant deposit and withdrawal, I think it is doing well in the present.

Supports are also the one thing to consider, questions and complain, improvements and technical support is really needed for people to enjoy the market better. There is a lot of people from the traditional stock exchange who are interested in joining our industry but the matter that hinders them is the confusions. Compared to us, much of them aren't really understanding the exchange and wanted to ask from the
specialist but since cryptocurrency industry doesn't have 24/7 support, that makes them say no.

Security is much preferred, however we keep it secure there were hacks around. Few of which were the recent hacks that took place with the centralized exchanges. Same time there are account frozen in the decentralized exchanges. Both has got complications. When luck stands as an opponent to us fighting hard it is impossible to avoid losses. This is common even with exchanges, gambling, trading and even on holding.

[icecube45]

I think what is needed for crypto exchanges is security. Because security is the main thing that is needed, it is useful to keep assets from being lost and avoid hacking. In addition, 24/7 support and privacy are also the most needed things. 24/7 support helps if there are problems in trade and privacy I'm sure many people choose to keep their privacy safer. Besides that, it depends on each person who uses it.

[@prashant]

Privacy and security is the most crucial thing in any exchanges then optimisation and trading benefits is plus.those exchange which give minimum regulations and restrictions and provide better service will be more often used.if you take the example of binance they have taken all the users requirements and competed with major exchange to become major exchange.

[greeklogos]

No need to look further, we have big exchanges with high liquidity so no need to look for more. I personally use binance, bittrex and hitbtc.

I list some though these are common things that we should look up to.

• Privacy
• Security
• Liquidity
• 24/7 support
• Instant deposit and withdrawal

To this list I would just add low taxes for exchanging, deposited and withdrawing. That's also important term for every user. Honestly, I check the price for taxes at first, before to register on an exchanger. Luckily this info is available on almost every exchanger without registration.

[richcorner100]

I need exchange that give insurance for fund of all user, because many times already crypto exchange get hacked , and the last case is Cryptopia. But Cryptopia did not have good support and the platform did not online for more than 2 week. All trader and investor want to have full of security and insurance for their money in that platform.

[Timmzzy]

indeed there are so many exchanges nowadays, and I prefer to exchange large volumes, and I really like investing in ethereum.

That's a good requirement but I believe security and 24/7 service centre should also be the most important as of the volume in the Exhcange that can be looked up on. We won't like to hook up in missing our funds.

[D3m1r4wanti]

I need exchange that give insurance for fund of all user, because many times already crypto exchange get hacked , and the last case is Cryptopia. But Cryptopia did not have good support and the platform did not online for more than 2 week. All trader and investor want to have full of security and insurance for their money in that platform.

the desire that I really support and actually everyone also wants it, besides security I also want that an exchanger can provide insurance on the assets we have when our assets are lost due to something like hacking or so on.

[Timmzzy]

some of the natural things I want and I expect on an exchange are:
1. security guarantee
2. Low withdrawal fees
3. 24-hour admin service

Your number two is quiet welcoming but when it's in the aspects of when market is bad won't it affect their fee in transaction because I think this can hook up in the network and keeping you in pending.

[Ararbermas]

Hey everyone,
for all crypto traders , what do you think we need most in a crypto exchange ! right now there are thousands of them but how can you choose which one you trade on ? and what existing exchanges lack of ?

actually mostly exchange nowadays had the same strategy with some classified exchange site around the internet  just to convince more traders as well.

So if you see this stuff on some exchange site don't easily fall on it. ( Privacy./ Security./ Liquidity ) Which is seek for specific information first including the ratings itself. Because that's  the only way to determine easily the good exchange site .  Or  choose those provably fair and the most popular exchange IMO to prevent such issues.

[Polar91]

Hey everyone,
for all crypto traders , what do you think we need most in a crypto exchange ! right now there are thousands of them but how can you choose which one you trade on ? and what existing exchanges lack of ?

Stop loss. Most of cryptocurrency exchange doesn't have it. Thus, more traders are losing too much when big whales dumped the market. In choosing which exchanger to use, since most of them have same features, I choose the one which doesn't lagging.

[Thanasis]

Security to our funds and high trading volume is the thing most important when picking up a platform for trading and other features like much trading pairs,decentralized platform may increase the priority but for now most exchange will have BTC,ETH and a stable coin for trading pairs.

[marcous]

In addition to the previously mentioned security and easy deposit and withdrawal transactions, of course, Exchange that doesn't use BOT is a good criterion and good choice for traders. Considering the existence of BOT is very annoying I guess.

[kalstarzz]

for me most exchanges have occupied what I need. but if I can fulfill it I need a notification when there will be a coin or token that will do a scam.

[malikusama]

No need to look further, we have big exchanges with high liquidity so no need to look for more. I personally use binance, bittrex and hitbtc.

I list some though these are common things that we should look up to.

• Privacy
• Security
• Liquidity
• 24/7 support
• Instant deposit and withdrawal

The bolded option seems to be a rare find in exchanges nowadays. Yes, they may have customer support service but most of them take days or even weeks to respond in an urgent query. Some may have live chat available, but pre-generated text is what greets me most of the time whenever I have something to ask. I am yet to find and exchange with an exceptional customer service that really replies within the day and actually resolves my problem on their platform whenever I need it.

It's hard to response the queries within a day when there are numerous users.  
Even the top listed exchanges can't respond timely because they have to process bulk of requests regularly.

24/7 support(query response) will be great if any exchange implement it in future but it's not necessary if the exchange is trusted, secure and have high liquidity.

[omonuyak]

I do prefer transparent , security and decentraliziation.  If and exchange can be Build on the foregoing I think I will seriously like it.  The security of the exchange platforms is very important and we can see how much has been lose through hack on exchange in the past because of lack of security.

[Pig_CCreate]

Something that wasn't mentioned yet is that the exchanges need to support your local currency if you plan to withdraw or deposit into the exchange. For example, Coinbase has a breakdown of the countries that is supports and what is possible for those currencies: https://www.coinbase.com/global

If you want to transact in let's say Mexico Pesos, then you are limited by a much smaller subset of exchanges that can be used. While most of the major FIAT currencies are supported, there is a huge demographic that most crypto exchanges haven't supported yet.

[LUCKMCFLY]

I recommend the top 5 Top Exchanges, but you must make sure that at least you have the opportunity to trade in Margin Trade, and that you have the option of placing yourself in a Stop Loss and Take Profit position at the same time, I think that only Bitfinex is the one who owns it, the only thing is that they ask you to enter 10k, either USD or the equivalent in cryptocurrencies, otherwise, you decide which Exchange is best suited to the type of trading you want to do.