What do you need in A Cryptocurrency Exchange ?!

[mikyadel]

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 ?

[1714248055]

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[1714248055]

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[1714248055]

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[1714248055]

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[Crypto Girl]

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

[rodel caling]

eeeeeeeeeeeeeeeeeeeee

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

Yeah binance bittrex hitbtc that's (3) three exchange is the most popular as of now and I included poloniex is also one of the most oldest trusted exchange with low transaction fees with strong private keys for the security of the users i am not promoting poloniex or any exchange but base on my own experience i give my own best for those people want to know is the best all about in trading.

[mikyadel]

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

How can you measure this criteria , how can you be sure of their privacy and their security as all exchanges promise that then they get hacked !!
Also,what about other features you are looking for that if implemented you would consider using in a new exchange ?

[ongkok87]

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

How can you measure this criteria , how can you be sure of their privacy and their security as all exchanges promise that then they get hacked !!
Also,what about other features you are looking for that if implemented you would consider using in a new exchange ?

but for all the exchanges it is very strong to hack into security. but it can be hacked and it depends on the person using it if I think. because all of that can be cracked depending on how we use it ourselves

[dothebeats]

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.

[NeuroticFish]

After the main things already written are met, some nice additions can be low fees, margin trading, lending and, why not, web wallets and debit cards.
Audit for the funds / cold wallets is another interesting thing. Maybe insurance too.

[butka]

Nobody mentioned it, so I'm going to:

What we need when it comes to crypto exchanges is a good Decentralized Exchange (DEX).

All the large centralized exchanges suffer from similar problems, even if they may have good liquidity. So, the crypto space urgently needs some good DEXs. The logic is simple: Decentralized currencies <--> Decentralized Exchanges.

[Slow death]

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 ?

are many questions and the answer is almost the same, I will speak from my point of view:

- The exchange should not have an anonymous owner

- The exchange must have physical office

- The exchange must have at least some phone number in case some customer has a serious problem, the exchange solves the problem of their customers by talking to them on the phone

I would add regulation, if an exchange is regulated, inspected periodically by the government, then another good point that we can consider to use this exchange

[mikyadel]

After the main things already written are met, some nice additions can be low fees, margin trading, lending and, why not, web wallets and debit cards.
Audit for the funds / cold wallets is another interesting thing. Maybe insurance too.

these features are already available in many exchanges ! insurance over customer's funds u mean ? it's interesting

Nobody mentioned it, so I'm going to:

What we need when it comes to crypto exchanges is a good Decentralized Exchange (DEX).

All the large centralized exchanges suffer from similar problems, even if they may have good liquidity. So, the crypto space urgently needs some good DEXs. The logic is simple: Decentralized currencies <--> Decentralized Exchanges.

yea,i was looking for someone to talk about the integration of blockchain technology in the crypto exchange as it's the essence of them ! so aside from liquity what are u looking for in a decentralized exchange giving their limitation when it comes to trading ?

[davinchi]

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 ?

They are a lot of things I need in an exchange, but what I need the most is security. We have again and again of how funds are being stolen from exchange which don't just affect the owners of this exchange but also the users. I think exchange owners should pay developers whose work is just to make sure that there is no hack in the system, and if possible try to call a client because processing any transaction of huge amount.

[timmydakolo2]

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 ?

Exchangers with good liquidations and as well with, good coin that has good volume I believe binance is there for everyone who is into trading and binance can even be handled by an newbies.

[timmydakolo2]

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

This is a good outline of what and Exchanger really need to acquire and also the trading fees and withdraw fees should not be higher.

[mrdeposit]

Security is definitely the most important factor or if money is stolen, it would be fair to refund it from their frozen balance.
Secondly, it may be decentralization. So managing our exchange wallet with private key is fair. Exchange is like a prison, ''restrictive''.

[Ains_sama]

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

[leowonderful]

My ideal exchange has the following features:

Multiple security options like 2FA available to combat hackers, block new IPs from logging in, etc. Plenty of sites email me when a login's been detected from a new IP, but a number of the ones I am registered on don't actually require you to authorize the login through a link on the email.

Must have a physical location. Most but not all exchanges that don't have physical locations are scams, especially newer ones.

Liquidity

Good support for whenever things go wrong like deposits, trades, etc.

Reasonable withdrawal fees and trading fees. I typically don't do lots of small withdrawals from exchanges so fees aren't usually a problem for me, but the fees add up over time. Some sites also have pretty high trade fees, which most people don't initially notice when signing up for an exchange.

[harizen]

Hey everyone,
...and what existing exchanges lack of ?

Lack of employees especially the global exchanges.

I understand that global exchanges does support several countries so responding to concerns might take time. But at some of the cases, especially the major ones, it takes several days or weeks and some of the reasons are; investigating and checking. Isn't it mandatory that if a company will set up a global exchange and quiet reached the status of being one of the reputable exchange, there should be an upgrade of supporting staff.

Here in our local exchange, the famous and most used in our country, support will respond in less than 24 hours. The support volume is way lower of course compare to global exchanges but their employees are not that much but still can handle it (I think around 500 reports per day based on my known person who works there). I know global exchanges can do this too since they are committed globally.

[fibrolit]

Each of us has its own criteria for choosing an exchange. If I want to exchange some little-known token obtained in the bounty,I go to a decentralized exchange.If I have a huge balance sheet,most likely I will choose a huge exchange and a trading pair with a turnover of several tens of millions of dollars a day. There is not enough exchange in the Fiat necessary for my country.

[Razerglass]

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

For privacy it is logical to use decentralized exchanges than blindly believing to big centralized exchanges.
Security is still main issue and i am really scared after the leak of data that contains hashed emails,passwords,secret questions on coinmama.
Liquidity will increase after bear market.
Support is necessary and big exchanges should implement the system for emergency cases.
I prefer to wait for 3 days if theme is about crypto to fiat transactions.

[Clark05]

Im looking for exchanges site who are have support daily and the security is very secure and the features will be updated everymonth and the withdrawals is instant and the deposited is only takes only 1 confirmation to use it and also the withdrawa fees and I think if that cryptocurrency exchanges site have that for surr most trader will be register and trade to them and Binance is the most perfect example for that who are the most trusted and popular exchanges site in crypto community.